Artificial Intelligence
The Global Encoder Market size is expected to reach $4.8 billion by 2028, rising at a market growth of 9.1% CAGR during the forecast period
New York, Jan. 25, 2023 (GLOBE NEWSWIRE) — Reportlinker.com announces the release of the report “Global Encoder Market Size, Share & Industry Trends Analysis Report By Type, By Application, By Signal Type, By Technology, By Regional Outlook and Forecast, 2022 – 2028” – https://www.reportlinker.com/p06412033/?utm_source=GNW
More precisely, it measures the position, and from the position, in either a linear or rotating motion, direction, velocity, and acceleration can be calculated.
Different physical operating principles, communication protocols, outputs, and other factors contribute to encoders’ different functioning. All types of mechanical systems require encoders as essential components. They are prevalent in industrial environments where heavy gear completes delicate labor, repeated operations, or high-precision prototyping.
In addition, advanced electronics manufacturing, the automation industry, robotics, the healthcare industry, and other fields rely heavily on encoders. Although encoders have the same primary function of measuring motion and communicating feedback, their setups, capabilities, and uses differ significantly.
Machines employ encoders for motion control and motion feedback. In machinery across all industries, encoders are present. Plotters utilize encoders, packaging, robotics, conveying, sorting, automation, imaging, filling, and many other devices. They may have escaped your attention, but they do exist.
COVID-19 Impact Analysis
The COVID-19 pandemic had a significant negative influence on the encoder industry. Many countries have imposed and extended lockdowns, which has caused industry and manufacturing facilities worldwide to shut down due to crisis and a lack of labor. It is determined that the market experienced a decline between 2019 and 2020 after taking into account the opinions of numerous industry experts from different segments of the value chain, including OEMs, integrators, suppliers, end users, and distributors, as well as the financial results of other businesses in the encoder ecosystem.
Market Growth Factors
Rising Demand Across Businesses For Advanced Automation
Since encoders are used in automation to offer exact speed and direction to ensure that whichever motor is driving operates safely and smoothly, the requirement for automation by manufacturers throughout industries has been the primary demand driver for encoders. In order to avoid motor burnout or machine shutdown, accurate motor speed tracking provides optimal machine efficiency and operation. Encoders in automation, therefore, monitor machine energy and operating characteristics to assist increase overall equipment effectiveness (OEE). To properly control the robotic system, force detection and adjustment are crucial in various applications where the encoder is used.
Rising need for ai and machine learning-based solutions.
Artificial intelligence is used to build computers that perform tasks more effectively than people, enabling them to work around-the-clock under challenging conditions. As robots become more adept, businesses are adopting artificial intelligence in applications such as unmanned aerial drones, mobile robotics, digital twins, virtual assistants, machine learning, speech and image recognition, and other fields. Encoders also consume less energy when controlling and switching the rotor’s displacement. During the forecast period, market growth is expected to be supported by this rising AI adoption.
Market Restraining Factors
Mechanical malfunctions in severe settings are a hindrance.
Encoders are frequently employed in difficult settings, including those found in producing food and beverages, heavy equipment, specialty vehicles, energy production, the fabrication of medical devices, and wastewater treatment facilities. Solid particle or liquid contamination, mechanical bearing overload, and signal output failure are the leading causes of encoder failure in challenging situations. Any of these causes the encoder to stop working or the system to start acting strangely. As a result, the use of encoders may decrease in the years to come.
Type Outlook
Based on the type, the encoder market is classified into rotary and linear. In 2021, the rotary category dominated the encoder market with largest revenue share. These kinds of encoders are typically used when mechanical systems need to be controlled or monitored. Robotics, conveying, filling, the lift industry, cut-to-length applications, robotics, and motor feedback are just a few industries that frequently use encoders. The need for robotics and automated industrial machinery is driving growth in the market for rotary encoders.
Applications Outlook
Based on the applications, the encoder market is segmented into industrial, healthcare, power, food & beverage, automotive, consumer electronics, aerospace, printing, textile, and others. The healthcare sector showcased the significant revenue share in the encoder market in 2021. The demand for combining technical knowledge, skills, and experience with the latest technology is growing due to the healthcare sector’s digitization and the rising demand for medical experts. Encoders not only lower the possibility of medical errors and also support the creation of novel lab techniques.
Signal Type Outlook
Based on signal type, the encoder market is divided into incremental and absolute segments. In 2021, the incremental segment experienced the largest revenue share in the market. Incremental rotary encoders convert rotational movement into electrical impulses for even more high precision of automated systems. When rotation occurs, incremental encoders create alternating high and low pulses as opposed to absolute encoders, which measure the angle. These pulses may be used to determine the speed and direction of the spinning object.
Technology Outlook
Based on technology, the encoder market is classified into magnetic, optical, inductive, and others. In 2021, the encoder market’s magnetic category had the most significant revenue share. Magnetic field variations cause the magnetic encoder to detect rotational position information and convert it into electrical impulses for an output. A permanent magnet and a magnetic sensor are common parts of magnetic encoders. Magnetic encoders are used in applications that prioritize environmental durability, portability, lightweight, and exceptional dependability.
Regional Outlook
Based on geography, the encoder market is categorized in North America, Europe, Asia Pacific, and LAMEA. The Asia Pacific region had the largest revenue share in the encoder market in 2021. Expanding the encoder market in the Asia Pacific region is linked to the emergence of manufacturing and engineering hubs associated with various sectors. China, for example, has had rapid industrial development over the past two decades and has surpassed the US to become the world’s top manufacturer of manufactured products.
The major strategies followed by the market participants are Product Launches. Based on the Analysis presented in the Cardinal matrix; Sensata Technologies Holdings PLC and Fortive Corporation are the forerunners in the Encoder Market. Companies such as Renishaw PLC, Maxon Motor AG, and Fraba B.V. are some of the key innovators in Encoder Market.
The market research report covers the analysis of key stake holders of the market. Key companies profiled in the report include Renishaw PLC, Dr. Johannes Heidenhain GmbH, Fraba B.V., Sensata Technologies Holdings PLC, IFM Electronics GmbH, Mitutoyo Corporation, Pepperl + Fuchs Group, Fortive Corporation, Maxon Motor Ag, and Balluff GmbH.
Recent Strategies deployed in Encoder Market
Product Launches & Product Expansions
Nov-2022: Renishaw unveiled an addition to its ATOM DX encoder series, namely CENTRUM CSF40 metal rotary scale. The product contains innovative mounting and self-aligned feature that makes it easy and quick to install the assemble process and also remove the need for manual alignment of the encoder disc.
Jun-2021: Balluff introduced rotary encoders, used speed/rotary, movements or angular velocity, length, and positions that need to be recorded. These encoders convert mechanical movements into digital electric signals and different measuring principles would be used depending upon the application, such as optical encoders used in high resolution whereas magnetic encoders would be used in harsh environmental conditions.
May-2022: Pepperl+Fuchs launched the hollow shaft ENI90 Series Incremental Rotary Encoders. These rotary encoders with BlueBeam technology would provide maximum precision to any heavy-duty or standard application with rotational speeds of up to 6,000 rpm.
Apr-2022: Heidenhain introduces the revolutionary PressFit rotary encoders, which would provide a better solution for incorporating automated with a better solution for feedback devices. The new encoder series provide surrounding space for seal and cables as well as contains a unique compact design, that allows simple and fast mounting by press-fitting into a motor housing.
Jan-2021: Renishaw introduced FORTiS range of linear absolute encoders, with an aim to provide high resistance to the solid debris contaminants and ingress of liquids. The product provides a high level of repeatability, upgrades measurement performance, and minimize hysteresis.
Partnerships, Collaborations & Agreements
May-2020: Heidenhain Corp. announced the collaboration with Applied Motion Products Inc., a provider of high-precision motion control products. Under the collaboration, Applied Motion Products’ StepServo Integrated Motors and Heidenhain’s Renco encoders would be combined and provide an integrated motor design with closed-loop firmware and high-resolution incremental encoder.
Expansions
Jun-2021: Fraba Group expanded its business with the launch of UBITO and CREDEMUS, new business units. CREDEMUS would provide support and consulting services to mid-sized companies, interested in the adoption of mass customization manufacturing methodology and UBITO would serve energy harvesting, wireless transmission and magnetic sensing.
Scope of the Study
Market Segments covered in the Report:
By Type
• Rotary
• Linear
By Application
• Industrial
• Healthcare
• Power
• Food & Beverage
• Automotive
• Consumer Electronics
• Aerospace
• Printing
• Textile
• Others
By Signal Type
• Incremental
• Absolute
By Technology
• Magnetic
• Optical
• Inductive
• Others
By Geography
• North America
o US
o Canada
o Mexico
o Rest of North America
• Europe
o Germany
o UK
o France
o Russia
o Spain
o Italy
o Rest of Europe
• Asia Pacific
o China
o Japan
o India
o South Korea
o Singapore
o Malaysia
o Rest of Asia Pacific
• LAMEA
o Brazil
o Argentina
o UAE
o Saudi Arabia
o South Africa
o Nigeria
o Rest of LAMEA
Companies Profiled
• Renishaw PLC
• Dr. Johannes Heidenhain GmbH
• Fraba B.V.
• Sensata Technologies Holdings PLC
• IFM Electronics GmbH
• Mitutoyo Corporation
• Pepperl + Fuchs Group
• Fortive Corporation
• Maxon Motor Ag
• Balluff GmbH
Unique Offerings
• Exhaustive coverage
• Highest number of market tables and figures
• Subscription based model available
• Guaranteed best price
• Assured post sales research support with 10% customization free
Read the full report: https://www.reportlinker.com/p06412033/?utm_source=GNW
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ReportLinker is an award-winning market research solution. Reportlinker finds and organizes the latest industry data so you get all the market research you need – instantly, in one place.
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Artificial Intelligence
Identity Governance & Administration Market Projected to Reach $24.42 billion by 2030 – Exclusive Report by 360iResearch
PUNE, India, April 25, 2024 /PRNewswire/ — The report titled “Identity Governance & Administration Market by Component (Services, Solution), Modules (Access Certification & Compliance Control, Access Management, Identity Lifecycle Management), Organization Size, Deployment, Vertical – Global Forecast 2024-2030” is now available on 360iResearch.com’s offering, presents an analysis indicating that the market projected to grow from a size of $8.46 billion in 2023 to reach $24.42 billion by 2030, at a CAGR of 16.34% over the forecast period.
“Navigating Global Identity Governance With Key Strategies for Digital Security and Compliance”
Identity governance and administration (IGA) has emerged as a critical policy-driven approach aimed at fortifying digital identities within organizations, ensuring that proper access is provided to the right individuals for valid reasons. Across the globe, the demand for IGA solutions is on the rise, driven by the need to tackle sophisticated cyber threats, comply with stringent data protection laws, and adapt to the digitization wave sweeping through industries. Challenges include integrating these solutions with pre-existing IT frameworks, primarily in organizations reliant on legacy systems. The North American market, led by the United States and Canada, is at the forefront of this expansion, embracing technological advancements and stringent regulatory standards. Meanwhile, the Europe, Middle East, and Africa (EMEA) region is navigating its unique landscape, with the EU focusing heavily on compliance through GDPR and the Middle East and Africa gradually recognizing the value of digital security. The Asia-Pacific region is witnessing a significant uptrend in IGA solutions adoption, spurred by digital transformation initiatives and cybersecurity awareness, with China and India playing pivotal roles. This global perspective highlights the universal importance of IGA in today’s digital era, highlighting the critical balance between innovation, security, and regulatory compliance in safeguarding digital identities.
Download Sample Report @ https://www.360iresearch.com/library/intelligence/identity-governance-administration
“Navigating the New Normal With The Crucial Role of Identity Governance in Securing Hybrid Work Environments”
As businesses globally embrace the fusion of remote and traditional office work, the need for secure, hybrid workspaces becomes paramount. The shift toward flexible working models, accelerated by the COVID-19 pandemic, highlights the importance of cybersecurity and accessibility in ensuring operational continuity and a better work-life balance. Identity governance & administration (IGA) systems emerge as essential tools within this evolving work landscape. They enable organizations to manage digital identities and access rights effectively, safeguarding sensitive data against unauthorized access across diverse working environments. By ensuring that only credentialed employees can access critical information, regardless of their physical location, IGA solutions stand at the forefront of maintaining cybersecurity compliance and operational integrity. This development signifies a growing demand for robust identity governance frameworks, ensuring businesses remain resilient and secure in remote work and beyond.
“Elevating Security and Efficiency in Organizations through Specialized Identity Governance & Administration Services”
Managed and professional services provide organizations with the specialized expertise necessary for optimizing the performance and security of identity governance & administration (IGA) systems, eliminating the need for such in-depth knowledge internally. Businesses benefit from advanced skills that enhance system functionality and safeguard sensitive data by outsourcing specific IGA tasks. From the initial stages of integration and implementation, ensuring seamless incorporation with existing infrastructures, to ongoing support and maintenance for consistent system reliability and up-to-dateness, these services form the foundation of effective IGA strategies. Furthermore, training and consulting play a pivotal role, equipping companies with the understanding and capability to utilize their IGA systems to the fullest. IGA solution is a critical technological tool designed to streamline the management of user access rights across organizations, bolstering security, operational efficiency, and compliance with regulatory standards. This comprehensive approach to IGA facilitates a more secure, efficient, and compliant organizational environment, empowering businesses to focus on core objectives and ensure their data remains protected.
Request Analyst Support @ https://www.360iresearch.com/library/intelligence/identity-governance-administration
“International Business Machines Corporation at the Forefront of Identity Governance & Administration Market with a Strong 7.09% Market Share”
The key players in the Identity Governance & Administration Market include Broadcom, Inc., SAP SE, Oracle Corporation, Microsoft Corporation, International Business Machines Corporation, and others. These prominent players focus on strategies such as expansions, acquisitions, joint ventures, and developing new products to strengthen their market positions.
“Introducing ThinkMi: Revolutionizing Market Intelligence with AI-Powered Insights for the Identity Governance & Administration Market”
We proudly unveil ThinkMi, a cutting-edge AI product designed to transform how businesses interact with the Identity Governance & Administration Market. ThinkMi stands out as your premier market intelligence partner, delivering unparalleled insights with the power of artificial intelligence. Whether deciphering market trends or offering actionable intelligence, ThinkMi is engineered to provide precise, relevant answers to your most critical business questions. This revolutionary tool is more than just an information source; it’s a strategic asset that empowers your decision-making with up-to-the-minute data, ensuring you stay ahead in the fiercely competitive Identity Governance & Administration Market. Embrace the future of market analysis with ThinkMi, where informed decisions lead to remarkable growth.
Ask Question to ThinkMi @ https://app.360iresearch.com/library/intelligence/identity-governance-administration
“Dive into the Identity Governance & Administration Market Landscape: Explore 197 Pages of Insights, 654 Tables, and 26 Figures”
PrefaceResearch MethodologyExecutive SummaryMarket OverviewMarket InsightsIdentity Governance & Administration Market, by ComponentIdentity Governance & Administration Market, by ModulesIdentity Governance & Administration Market, by Organization SizeIdentity Governance & Administration Market, by DeploymentIdentity Governance & Administration Market, by VerticalAmericas Identity Governance & Administration MarketAsia-Pacific Identity Governance & Administration MarketEurope, Middle East & Africa Identity Governance & Administration MarketCompetitive LandscapeCompetitive PortfolioInquire Before Buying @ https://www.360iresearch.com/library/intelligence/identity-governance-administration
Related Reports:
Privileged Identity Management Market – Global Forecast 2024-2030Identity & Access Management Professional Services Market – Global Forecast 2024-2030Digital Identity Solutions Market – Global Forecast 2024-2030About 360iResearch
Founded in 2017, 360iResearch is a market research and business consulting company headquartered in India, with clients and focus markets spanning the globe.
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Artificial Intelligence
Enghouse Video Partners With SONIFI Health To Deliver Advanced Telehealth Solutions In Hospital Rooms
MARKHAM, ON, April 25, 2024 /PRNewswire/ — Enghouse Video, a global leader in cutting-edge video technology solutions, today announced its partnership with SONIFI Health, enhancing virtual care in hospital settings.
SONIFI Health is a leading U.S. healthcare technology company based in Sioux Falls, South Dakota. The new partnership leverages and integrates Enghouse Video room systems technology to support SONIFI Health’s commitment to expanding telehealth applications and system optimizations in hospital settings.
Enghouse’s VidyoRooms solution, a sophisticated video conferencing technology that combines both software and hardware solutions, has been fully integrated into SONIFI Health’s interactive TV systems. This integration provides up to 4K high-quality video conferencing, multi-party sessions and robust security features that ensure full compliance with healthcare regulations.
Enghouse Video offers an immersive telehealth platform to support collaborative interdisciplinary care, improved patient outcomes and cost savings. The platform is flexible and simple, delivering the reliability, interoperability, and scalability needed for today’s healthcare environment. A key strength of the partnership is its offering of back-end integrations like patient portals, medical devices, EMR, tele-sitting, remote patient observation and consultation.
“Hospitals can choose the telehealth partner that’s right for them, and we incorporate that solution with interactive TV,” said Brian Nido, SONIFI Health’s Vice President of Customer Success. “Using the hardware and systems they already have in patient rooms helps hospitals reduce costs and maximize the value of their existing investments, while benefiting both clinicians and patients.”
SONIFI Health and Enghouse Video continue to collaborate closely to further refine and enhance the telehealth solutions provided to healthcare facilities. This partnership reflects a shared commitment to leveraging technology to create smarter hospital rooms and improve patient care across the healthcare spectrum.
About Enghouse VideoEnghouse Video, part of the Enghouse Interactive division, is a subsidiary of Enghouse Systems Limited, a vertically focused software and services company traded on the Toronto Stock Exchange (TSX: ENGH). Through highly secure, scalable and flexible Cloud-based or On Prem services, we deliver one of the world’s highest quality and most innovative video platform to video-enable any application or idea. From advanced video conferencing and collaboration tools to state-of-art enterprise video management, Enghouse Video is a unique player in multiple markets, including telehealth. Learn more at www.enghousevideo.com, read our blog, or follow us on Twitter at @EnghouseVideo, on LinkedIn, and on Facebook.
About SONIFI HealthSONIFI Health provides market-leading interactive patient engagement technology proven to improve patient outcomes and staff productivity. The EHR-integrated platform is designed to enhance patient and family experiences while increasing staff satisfaction and organizations’ operational efficiencies. As part of SONIFI Solutions, Inc., the company annually supports more than 300 million end user experiences. Learn more at sonifihealth.com.
Enghouse Video Contact: Sylvain Awad, Director, Demand Generation, Enghouse Video, part of Enghouse Interactive Division, [email protected]
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Artificial Intelligence
Global Insurance Provider Selects 3CLogic to Streamline AI and Contact Center Capabilities with ServiceNow
Multinational Insurance Broker to deploy 3CLogic’s solution with ServiceNow’s Financial Service Operations (FSO) platform to streamline customer experiences.
ROCKVILLE, Md., April 25, 2024 /PRNewswire/ — 3CLogic, the leading Conversational AI and Contact Center solution for ServiceNow®, today announced its selection by a global insurance provider to replace its existing contact center infrastructure as part of a larger CX transformation effort. The strategic decision is designed to complement the organization’s use of ServiviceNow’s Financial Services Operations (FSO) offering leveraged across a number of its existing product lines including Customer Warranty Claims, Roadside Assistance, and Home Warranties.
Serving millions of customers worldwide with innovative insurance and protective products, the organization required a solution that would enhance its recent investment in the ServiceNow platform as it works to transform its end-to-end customer service operations. The deployment will incorporate several of 3CLogic’s AI-powered capabilities purpose-built for ServiceNow, including Conversational AI, Speech Analytics, and AI Performance & Coaching, along with integrated call transcriptions, convenient 2-way SMS, and ServiceNow-centralized contact center reporting.
“We continue to see enterprises eager to complement their existing investment in digital platforms, such as ServiceNow, with contact center features purpose-built to extend the workflows and features they already have and use,” explains Matt Durkin, VP of Global Sales at 3CLogic. “It’s no secret that organizations are already juggling too many systems, often with overlapping capabilities, which impacts ROI and operational efficiency. We’re proud to offer an alternative approach that helps simplify the technology stack while optimizing the overall operational costs and outcomes.”
Recently named to Constellation Research’s 2024 Shortlist for Digital Customer Service and Support, 3CLogic has seen global adoption of its solution by leading enterprises in healthcare, manufacturing, travel, retail, higher education, finance, non-profits, and Managed Service Providers across five continents. As a ServiceNow-certified Technology and Build partner with offerings available for ServiceNow’s IT Service Management, Customer Workflows, HR Service Delivery, and Source-to-Pay solutions, the company will be unveiling its latest set of capabilities at ServiceNow’s annual Knowledge 2024 event this May in Las Vegas.
For more information, please contact [email protected].
About 3CLogic3CLogic transforms customer and employee experiences with its leading Cloud Contact Center and AI solutions purpose-built to enhance today’s leading CRM and Customer Service Management platforms. Globally available and leveraged by the world’s leading brands, its offerings empower enterprise organizations with innovative features such as intelligent self-service, generative and Conversational AI, agent automation & coaching, and AI-powered sentiment analytics – all designed to lower operational costs, maximize ROI, and optimize each interaction across IT Service Desks, Customer Support, Sales or HR Services teams. For more information, please visit www.3clogic.com.
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