Encoder Market worth $4.3 billion by 2027 - Exclusive Report by MarketsandMarkets™
The growth of the market attributed to the growing adoption of industry 4.0 and rising need for high end automation across industries driving the encoder market.
- The growth of the market attributed to the growing adoption of industry 4.0 and rising need for high end automation across industries driving the encoder market.
- The absolute encoder determines the unique position of the value at every point of rotation by generating distinctive bit configurations.
- A magnetic encoder uses sensors to identify changes in magnetic fields from a rotating magnetized wheel and convert them into electrical signals.
- Asia Pacific dominated the encoder market and is expected to hold the same position during the forecast period.