Global encoder market was valued at around $ 1.6 billion in 2019 and is projected to reach $ 2.4 billion by 2025. Anticipated growth in the market can be attributed to the growing demand for industrialization and automation coupled with the implementation of Industry 4.0.The market is expected to witness robust growth during the forecast period owing to increasing penetration of sophisticated automation equipment in industries such as automotive, electronics, etc. An encoder is a sensor of mechanical motion that interprets information and converts it into a code while possessing the capacity to convert that code back to its source. As an electro-mechanical device, an encoder is able to provide motion control system users with information concerning position, velocity and direction. In addition to this, the ability of encoders to provide real-time data is aiding the industries to bring accuracy in workflow, enhance operational speed and ease process control. Consequently, the high productivity solutions offered by encoders is going to propel the growth of the global encoders market through 2025.
The global encoder market has been categorized into type, technology, end user industry and region. Based on type, the market is segmented into rotary encoder and linear encoder. The rotary encoder segment is expected to dominate the market during the forecast period due to their widespread adoption in industrial and commercial designs owing to their high durability and performance. Based on technology, the global encoder market is categorized into optical, magnetic, and others. Among them, the optical technology-based encoders are anticipated to witness the highest growth through 2025 as they are widely being used in automation in the industrial, textile, paper, rubber, plastic, wood, metal, and consumer electronics industries.
In terms of End-user Industry, the global encoder market can be categorized into industrial, consumer electronics, textiles, automobile, packaging, food & beverages, & others. The industrial and consumer electronics end user segments are expected to be leading the market owing to rapidly growing adoption of upcoming technologies such as robotics, drones, automation & smart manufacturing, etc.
Asia Pacific is expected to dominate the global encoder market through 2025, followed by North America. Significant growth in industrial, consumer electronics, automotive & textile industries and adoption of Industry 4.0 will propel the demand for encoders in in Asia Pacific region during the forecast period. However, the global economic slowdown and spread of COVID-19 pandemic poses a major threat for the global encoder market in the near future.
Some of the major players operating in the global encoder market include Omron Automation, Rockwell Automation, Sensata Technologies, Baumer Group, Dynapar Corporation, Faulhader Group, Posital-Fraba Inc., Heidenhain GmbH, Elco Industrie Automation GmbH and Maxon Motor Ag. Leading companies are increasingly focusing on new product launches to gain a larger share in the global encoder market.
Years considered for this report:
Historical Years: 2015-2018
Base Year: 2019
Estimated Year: 2020
Forecast Period: 2021–2025
Objective of the Study:
- To outline, classify and estimate the global encoder market on the basis of type, technology, end user industry and regional distribution.
- To study and forecast the global market size of the encoder market
- To project the size of encoder market, in terms of value, with respect to key types such as rotary encoder, linear encoder.
- To understand the regional market structure of encoder market, the global encoder market is segmented in five regions, namely – Asia-Pacific, North America, Europe, Middle East & Africa and South America and forecast the market size.
- To identify the detailed information about the prime factors affecting the global encoder market.
- To evaluate competitor pricing, average market selling prices and margins in the global encoder market.
- To examine competitive developments such as expansions, innovative product modifications, new entrants in the global encoder market.
- To strategically profile the leading players in the market which are involved in the manufacturing and supply of encoder worldwide.
TechSci Research performed both primary as well as exhaustive secondary research for this study. Initially, TechSci Research sourced a list of leading encoder manufacturers across the globe. Subsequently, TechSci Research conducted primary research surveys with the identified companies. While interviewing, the company personnel were also enquired about their key products, manufacturing plant locations, prices of products and competitors. Through this technique, TechSci Research was able to include the manufacturers which could not be identified due to the limitations of secondary research. TechSci Research analyzed the types, technologies, end user industries, distribution network and regional presence of all major encoder manufacturers across the globe.
TechSci Research calculated the market size for global encoder using a bottom-up approach, where manufacturers’ value sales data for standard type of encoder was recorded and forecast for the future years. TechSci Research sourced these values from industry experts and company representatives and externally validated through analyzing historical sales data of respective manufacturers to arrive at the overall market size. Various secondary sources, secondary sources directories, databases, company annual reports, white papers, investor presentations and financial reports were also used by the TechSci Research.
Key Target Audience:
- Encoder manufacturers, suppliers and other stakeholders
- Trade Associations, organizations, forums and alliances related to encoder market
- Government bodies such as regulating authorities and policy makers
- Market research and consulting firms
The study is useful in providing answers to several critical questions that are important for the industry stakeholders such as encoder manufacturers, distributors and dealers, customers, and policy makers about which market segments should be targeted over the coming years (next two to five years) in order to strategize investments and capitalize on the growth of the market segment.
In this report, the global encoder market has been segmented into the following categories in addition to the industry trends which have also been detailed below:
- Global Encoder Market, By Type:
o Rotary Encoder
o Linear Encoder
- Global Encoder Market, By Technology:
- Global Encoder Market, By End User Industry:
o Consumer Electronics
o Food & Beverage
- Global Encoder Market, By Geography:
_ South Korea
_ Rest of Asia Pacific
o North America
_ United States
_ Rest of North America
_ Rest of Europe
o Middle East & Africa
_ Saudi Arabia
_ South Africa
_ Rest of Middle East & Africa
o South America
_ Rest of South America
Company Profiles: Detailed analysis of the major companies present in global encoder market.
With the given market data, TechSci Research offers customizations according a company’s specific needs. The following customization options are available for the report:
- Detailed analysis and profiling of additional market players (up to five).
Profit Margin Analysis
- Profit margin analysis in case of direct and indirect sales channel.