Global Encoders Market is valued approximately USD 1.5 billion in 2018 and is anticipated to grow with a healthy growth rate of more than 8.60% over the forecast period 2019-2026. Encoders is a process or device used to convert data from one format to another. For instance, in position sensing, an encoder is a mechanism that can detect and convert mechanical motion to digital or analog coded output signal. Encoder specially measures position, while acceleration velocity, and direction can be derived from position in either rotary or linear movement. Different functionality of encoders comes from different physical principles of function, communication protocols, outputs, etc. Growing need for high-end automation across industries coupled with industry 4.0 are key driving factors of market growth. Further, increasing demand for artificial intelligence-based systems and upcoming technologies in automotive industry is expected to create significant growth opportunity in the market over the forecast period. However, varying international regulations impedes the growth of the market over the forecast period of 2019-2026.
The regional analysis of global Encoders market is considered for the key regions such as Asia Pacific, North America, Europe, Latin America and Rest of the World. North America is the leading/significant region across the world in terms of market share owing to the growing adoption of automotive techniques and robotics in manufacturing plants. Whereas, Asia-Pacific is also anticipated to exhibit highest growth rate / CAGR over the forecast period 2019-2026. Factors such as increasing manufacturing facilities, growth in automotive industry would create lucrative growth prospects for the Encoders market across Asia-Pacific region.
Major market player included in this report are:
Rockwell Corporation Inc.
IFM Electronic GmbH
Maxon Motor Ag
The objective of the study is to define market sizes of different segments & countries in recent years and to forecast the values to the coming eight years. The report is designed to incorporate both qualitative and quantitative aspects of the industry within each of the regions and countries involved in the study. Furthermore, the report also caters the detailed information about the crucial aspects such as driving factors & challenges which will define the future growth of the market. Additionally, the report shall also incorporate available opportunities in micro markets for stakeholders to invest along with the detailed analysis of competitive landscape and product offerings of key players. The detailed segments and sub-segment of the market are explained below:
By Technology Type:
By End use:
Food & beverages
Others (power and mining)
Rest of the World
Furthermore, years considered for the study are as follows:
Historical year – 2016, 2017
Base year – 2018
Forecast period – 2019 to 2026
Target Audience of the Global Encoders Market in Market Study:
Key Consulting Companies & Advisors
Large, medium-sized, and small enterprises
Value-Added Resellers (VARs)
Third-party knowledge providers