Encoders are electromechanical devices that convert motion into electronic pulses to determine position, velocity, or angle. They are used extensively in industrial equipment, motor vehicles, robotics, and automation applications. Growth in industrial automation and adoption across various end-use industries such as automotive, electronics, manufacturing, etc. is expected to drive the demand for encoders during the forecast period.
Market Dynamics:
The global encoder market is driven by increasing industrial automation across various industries. Growing demand for industrial robots and automated machinery in the manufacturing sector is a key driver. Moreover, increasing electronics production and adoption of automation in the automotive industry is supporting the market growth. However, the availability of alternatives, such as resolvers and higher initial costs of encoders, are some factors restraining the market growth. Development of encoders with additional capabilities to measure multiple parameters is expected to create new opportunities during the forecast period.
Key Features of the Study:
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