Industrial Encoder Market 2024-2028
The industrial encoder market is forecasted to grow by USD 1.28 bn during 2023-2028, accelerating at a CAGR of 9.62% during the forecast period. The report on the industrial encoder market provides a holistic analysis, market size and forecast, trends, growth drivers, and challenges, as well as vendor analysis covering around 25 vendors.
The report offers an up-to-date analysis regarding the current market scenario, the latest trends and drivers, and the overall market environment. The market is driven by growing demand for material handling systems, rising demand due to easy mountability of encoders, and increased use of advanced technology equipment in industries.
Technavio's industrial encoder market is segmented as below:
By Type
- Optical encoder
- Magnetic encoder
By End-user
- Automotive
- Electronics
- Machine tools
- Others
By Geographical Landscape
- APAC
- North America
- Europe
- South America
- Middle East and Africa
This study identifies the growing interest in using drones across numerous applications as one of the prime reasons driving the industrial encoder market growth during the next few years. Also, increasing innovations in autonomous cars and advancement in communicating industries through IIoT will lead to sizable demand in the market.
The report on the industrial encoder market covers the following areas:
- Industrial encoder market sizing
- Industrial encoder market forecast
- Industrial encoder market industry analysis
The robust vendor analysis is designed to help clients improve their market position, and in line with this, this report provides a detailed analysis of several leading industrial encoder market vendors that include Baumer Holding AG, FAULHABER GROUP, Fortive Corp., Hans Turck GmbH and Co. KG, DR. JOHANNES HEIDENHAIN GmbH, ifm electronic gmbh, maxon motor AG, OMRON Corp., Pepperl and Fuchs SE, Pilz GmbH and Co. KG, Renishaw Plc, Rockwell Automation Inc., Sensata Technologies Inc., and SIKO GmbH. Also, the industrial encoder market analysis report includes information on upcoming trends and challenges that will influence market growth. This is to help companies strategize and leverage all forthcoming growth opportunities.
The study was conducted using an objective combination of primary and secondary information including inputs from key participants in the industry. The report contains a comprehensive market and vendor landscape in addition to an analysis of the key vendors.
The publisher presents a detailed picture of the market by way of study, synthesis, and summation of data from multiple sources through an analysis of key parameters such as profit, pricing, competition, and promotions. It presents various market facets by identifying the key industry influencers. The data presented is comprehensive, reliable, and a result of extensive research - both primary and secondary. The market research reports provide a complete competitive landscape and an in-depth vendor selection methodology and analysis using qualitative and quantitative research to forecast accurate market growth.