Encoder Market by Encoder Type (Linear and Rotary), Signal Type (Incremental, Absolute), Technology (Optical, Magnetic, Inductive), Application (Automotive, Consumer Electronics, Industrial, Power) and Region - Global Forecast to 2027

Encoder Market by Encoder Type (Linear and Rotary), Signal Type (Incremental, Absolute), Technology (Optical, Magnetic, Inductive), Application (Automotive, Consumer Electronics, Industrial, Power) and Region - Global Forecast to 2027

The encoder market is projected to grow from USD 2.7 billion in 2022 to USD 4.3 billion in 2027; it is expected to grow at a CAGR of 9.7% during the forecasted period. Rising need for high-end automation across industries, expansion of the automotive markets driving the encoder market growth and rising government initiatives to boost industrial automation provinding opportunities for endcoder market.

""Rotary encoders expected to register larger market share during the forecast period”

Rotary encoders are that can be magnetic or non-magnetic in nature used to measure or converts the angular position, rotations, or motion of the shaft into the analog or digital signals. The rotary encoders are reliable, accurate, and compact in size, and comes with integrated electronics. The rotary encoder is used in various applications for controlling and monitoring of mechanical system . For instance, the rotary encoder is used in robotics, optomechanical mice, industrial control, consumer electronics, healthcare, etc. Increasing demand for automation in various industries is expected to boost the growth of the rotary encoders market.

“Consumer Electronics application is expected to register highest CAGR during the forecast period.”

The market for consumer electronics is expected to witness significant growth during the forecast period. In consumer electronics, the encoder is used in office equipment such as PC-based scanning equipment, printers, copiers, answering machines, and scanners For instance, the encoder is used to control the operation of the ink head of the inkjet printer which enables the print head to apply the image to a precisely controlled location on the object. The use of the encoder in the printer helps to print beautifully and accurately. Similarly, it is also used to control the rotating drum that moves the paper in the printer. The growth of encoder in cosumner electronics application is due to the expanding residential sector, supportive government initiatives, and large presence of consumer electronics manufacturers.

“Market in Asia Pacific to grow at highest CAGR during the forecast period”

In 2021, Asia Pacific accounted highest market share of the encoder market. The regional market here has been segmented into China, Japan, India, South Korea, and Rest of Asia Pacific. The increase in number of manufacturing &engineering hubs related to various industries are the reasons for growth of encoder market in the Asia Pacific region. Furthermore, automotive and consumer electronics industries are supporting the growth of the encoder market in the region. For instance, the Government of China has placed strategic emphasis on plug-in hybrid EV and pure EV while promoting the adoption of energy-efficient hybrid vehicles, which has witnessed an increase in demand over the years. Similarly, in Japan. rapid movement toward “Society 5.0,” an ultra-smart society that is completely connected through IoT, Big Data, AI, and other technologies to improve the quality of life, has actively created a window of opportunities for the encoder market.

Major players profiled in this report are as follows: Renishaw plc (UK), HEIDENHAIN (Germany), FRABA B.V. (The Netherlands), Sensata Technologies Holding plc (US), ifm electronics gmbh (Germany), Mitutoyo Corporation (Japan), Pepperl+Fuchs SE (Germany), Fortive (US), maxon motor ag (switzerland), Balluff Inc. (Germany). Pilz GmbH & Co. KG (Germany), Tamagawa Seiki Co., Ltd. (Japan), FAULHABER Group (Germany), Baumer Group (Switzerland), Koyo Electronics Industries Co., Ltd. (Japan), Schneider Electric SE (France), Omron Corporation (Japan), Rockwell Automation, Inc. (US), SICK AG (Germany), Hengstler GmbH (Germany), Kubler Group (Germany), Elap srl (Italy), SIKO GmbH (Germany), Nemicon Corporation (Japan), and Gurley Precision Instruments (Japan).

Research Coverage

This research report categorizes the encoder market on the basis of type, signal type, technology, application, and region. The report describes the major drivers, restraints, challenges, and opportunities pertaining to the encoder market and forecasts the same till 2027. Apart from these, the report also consists of leadership mapping and analysis of all the companies included in the encoder ecosystem.

Key Benefits of Buying the Report:

The report will help market leaders/new entrants in this market with information on the closest approximations of the revenue numbers for the overall encoder market and the subsegments. This report will help stakeholders understand the competitive landscape and gain more insights to better position their businesses and plan suitable go-to-market strategies. The report also helps stakeholders understand the pulse of the market and provides them with information on key market drivers, restraints, challenges, and opportunities.