"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.

"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.

"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.

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 study report represents analysis of each segment from 2022 to 2032 considering 2023 as the base year. Compounded Annual Growth Rate (CAGR) for each of the respective segments estimated for the forecast period of 2024 to 2032.

The current report comprises of quantitative market estimations for each micro market for every geographical region and qualitative market analysis such as micro and macro environment analysis, market trends, competitive intelligence, segment analysis, porters five force model, top winning strategies, top investment markets, emerging trends and technological analysis, case studies, strategic conclusions and recommendations and other key market insights.

Research Methodology

The complete research study was conducted in three phases, namely: secondary research, primary research, and expert panel review. key data point that enables the estimation of Encoders market are as follows:

• Research and development budgets of manufacturers and government spending
• Revenues of key companies in the market segment
• Number of end users and consumption volume, price and value.
• Geographical revenues generate by countries considered in the report
• Micro and macro environment factors that are currently influencing the Encoders market and their expected impact during the forecast period.

Market forecast was performed through proprietary software that analyzes various qualitative and quantitative factors. Growth rate and CAGR were estimated through intensive secondary and primary research. Data triangulation across various data points provides accuracy across various analyzed market segments in the report. Application of both top down and bottom-up approach for validation of market estimation assures logical, methodical and mathematical consistency of the quantitative data.

Key questions answered in this report

• What are the key micro and macro environmental factors that are impacting the growth of Encoders market?
• What are the key investment pockets with respect to product segments and geographies currently and during the forecast period?
• Estimated forecast and market projections up to 2032.
• Which segment accounts for the fastest CAGR during the forecast period?
• Which market segment holds a larger market share and why?
• Are low and middle-income economies investing in the Encoders market?
• Which is the largest regional market for Encoders market?
• What are the market trends and dynamics in emerging markets such as Asia Pacific, Latin America, and Middle East & Africa?
• Which are the key trends driving Encoders market growth?
• Who are the key competitors and what are their key strategies to enhance their market presence in the Encoders market worldwide?