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Report Overview
2023
Base Year
2018-2023
Historical Year
2024-2032
Forecast Year
Flourishing Robotics Industry Aiding the Growth of Encoder Industry
Encoders are used widely in many industries to facilitate production and ensure precision. They are used in the flourishing food and beverage industry for filling, conveying, motor feedback, x-y positioning, and registration mark timing, among others, which is aiding the market growth. Encoders are also used to implement the Internet of things (IoT) to receive both position and information; consequently, catalysing the market growth. Moreover, the increasing use of computer numerical control (CNC) machines is also catalysing the encoder industry. The robust growth of the robotics industry and the extensive use of encoders in it are further propelling the market growth. Increasing research and development (R&D) in computing and technologies have enabled the maintenance and installation of robots easier and cost-effective, consequently augmenting the market growth for encoders.
Additionally, encoders are extensively used to ensure the precision of the automated machines such as automated guided vehicles (AGC) or autonomous mobile robot (AMR) for various functions such as redundancy, lift control, steering assembly, and drive motors. The use of encoders to determine position, speed, count, and direction is further augmenting the market growth for encoders. The rising production and surging popularity of automated cars also account for the growth of the encoder industry. Encoders are increasingly used to improve consumer experience by providing real-time speed, rotational positional information, and acceleration, further fuelling the market growth.
Encoder Market Report Snapshots
*While we strive to always give you current and accurate information, the numbers depicted on the website are indicative and may differ from the actual numbers in the main report. At Expert Market Research, we aim to bring you the latest insights and trends in the market. Using our analyses and forecasts, stakeholders can understand the market dynamics, navigate challenges, and capitalize on opportunities to make data-driven strategic decisions.*
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Key Questions Answered in the Report
In 2024, the global encoder market attained a value of nearly USD 2.42 billion.
The market is projected to grow at a CAGR of 8% between 2025 and 2034.
The market is estimated to witness a healthy growth in the forecast period of 2025-2034 to reach nearly USD 4.83 billion by 2034.
The rising use of encoders to ensure precision in various end-use sectors, the increasing utilisation of computer numerical control (CNC) machines, the growth of the robotics sector, and the surging trend of automation in the manufacturing sector are the major drivers of the market.
The key trends guiding the market include the surging popularity of automated cars, the digitisation of the healthcare sector, and the rising demand for encoders in precise portable medical devices.
The major regions in the market are North America, Latin America, the Middle East and Africa, Europe, and the Asia Pacific.
The major types of encoder include rotary encoder and linear encoder.
The various technologies of encoder are optical, magnetic, and photoelectric, among others.
The leading end uses of encoder are automotive, electronics, textile, printing machinery, industrial, and pharmaceuticals, among others.
The major players in the market are OMRON Corporation, Schneider Electric, Rockwell Automation, Inc., Panasonic Corporation, Sensata Technologies, Inc., and Baumer Group, among others.
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