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

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