"Increasing Demand of Consumer Electronic Globally to Ensure Rapid Growth for Encoders Market"
Globally, the Encoders market is expected to grow with a CAGR of 11.9% during the forecast period from 2019 to 2027. Encoders are defined small circuit or electronic devices that are used to convert analog signals into digital signals. The encoders are generally used for controlling or tracking various motion parameters such as direction, distance, position or rate. There are two types of encoders namely rotative and linear encoders, which are used as per the requirement and application.
Encoders allows the industry to locate the position of any object and the angle of placement of a piece of equipment to receive the desired results. The main objective of the encoders is to offers speed in operation, accuracy in workflow and have an appropriate process control. The increase in demand of consumer electronics such as laptops, PCs, scanners, printers and others are driving the encoder market as encoders are widely used in these systems. Furthermore, technological advancements have resulted in increasing adoption of advanced encoder in various industrial applications. This increasing demand is fueling the growth of the encoder market across the globe.
Market Synopsis
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"Encoders with Automotive Industry in Its End User Segment Continue Dominating the Market"
In 2018, the overall encoders market was dominated by the automotive industry contributing to a significant percent of the total revenue generated worldwide. The segment growth is backed by the consistent automobile sector growth and penetration of electric vehicles. Moreover, growing emphasis of vendors on technological advancement in automotive industry is also supporting the growth of the market. Additionally, the small size, weight of encoders and their ability to work with high rotational inertia, which makes them more suitable for applications, that requires high acceleration and deceleration rates drives the encoder market.
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"North America Dominates the Market by Region"
Encoders market is led by North America accounting for more than 1/3rd of the total market revenue generated worldwide. The region also enjoys the presence of various major players including Rockwell Automation Inc., Honeywell International Inc., Dynapar Corporation and others. The increasing demand for fast and controlled processing in the automobile industry electronic industry, and in manufacturing industry is another factor contributing to market growth. Nevertheless, Asia Pacific region is projected to emerge as the fastest growing market due to ever-growing automobiles and consumer electronics sectors in the region.
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Some of the prominent players operating in the Encoders market include Honeywell International, Omron Corporation, Schneider Electric, Panasonic Corporation, Rockwell Automation Inc., Baumer Group, BEI Sensors, FAULHABER Drive Systems, Dynapar Corporation, Pepperl+Fuchs International, Maxon Motor ag, and Hengstler GmbH.
Historical & Forecast Period
This research report presents the analysis of each segment from 2017 to 2027 considering 2018 as the base year for the research. Compounded Annual Growth Rate (CAGR) for each respective segment calculated for the forecast period from 2019 to 2027.
Report Scope by Segments
The Encoders market report provides market size and estimates based on market dynamics and key trends observed in the industry. The report provides a holistic view of global Encoders market based on technology, type, end-user, and geography. Key segments covered in the report are as follows:
| ATTRIBUTE |
DETAILS |
| Research Period |
2017-2027 |
| Base Year |
2018 |
| Forecast Period |
2019-2027 |
| Historical Year |
2017 |
| Unit |
USD Billion |
| Segmentation |
Technology Segment (2017–2027; US$ Bn)
• Optical
• Magnetic
• Photoelectric
• Others
|
|
End-User Segment (2017–2027; US$ Bn)
• Automotive
• Electronics
• Textile & Printing Machinery
• Others
|
|
Type (2017–2027; US$ Bn)
• Rotary Encoder
• Linear Encoder
• Others
|
|
Geography Segment (2017–2027; US$ Bn)
• North America (U.S., Rest of North America)
• Europe (U.K., Germany, France, Rest of Europe)
• Asia Pacific (China, Japan, India, Rest of Asia Pacific)
• Rest of the World (Middle East & Africa, Latin America)
|
Key questions answered in this report
- What was the market size of Encoders in 2018 and forecast up to 2027?
- Which is the largest regional market of encoders for automotive industry?
- What are the major trends followed in Encoders market across different regions?
- Who are the key Encoders companies leading the market?
- What are the key strategies adopted by the leading Encoders companies in market?
