Encoder Market to Reach $ 2.4 Billion by 2025
Growing demand for advanced
automation equipment and emerging need for accuracy in industrial sector are some
key factors driving global encoder market
According to TechSci Research report, “Global Encoder Market By Type, By Technology,
By End User Industry, By Region, Competition, Forecast & Opportunities,
2025”, the global encoder market is projected to grow from around $ 1.6 billion in 2019 to $ 2.4 billion by 2025 due to increasing industrialization & automation across various
industries, globally. The use of industrial robots in various manufacturing
industries across the globe will drastically change the market for encoders. The
encoder market, in terms of type, is categorized into rotary & linear, with
the rotary encoder segment expected to
dominate the market during the forecast period due to their widespread adoption
in industrial and commercial designs on account of their durability and excellent
performance.
In terms of technology, the encoder market is
categorized into optical, magnetic, and others. Among them, the optical
technology encoder segment is anticipated to witness the fastest growth and
continue its dominance until 2025 as they are being widely used in automation
in the industrial, textile, paper, rubber, plastic, wood, metal, and consumer
electronics industries. Nevertheless, the magnetic segment is also expected grow
as it is cost effective as compared to optical.
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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 end user segment is expected to dominate the market due to rapidly increasing
adoption of emerging technologies such as robotics, drones, automation &
smart manufacturing. However,
the spread of COVID-19 pandemic and its huge economic impact across the globe
poses a major challenge for the market players operating in the global encoder market.
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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, Heidenhain GmbH, Elco Industrie Automation
GmbH and Maxon Motor Ag. “Rising
industrial automation & adoption of robots in manufacturing industries is
anticipated to propel the global encoder market in the coming years. With the
use of latest technology such as last-mile delivery service robots and high end
automated drones, the global encoder market is expected to witness decent
growth over the course of next five years.”, said Mr. Karan Chechi, Research
Director with TechSci Research, a research based global management consulting
firm.
“Global Encoder Market By
Type, By Technology, By End User Industry, By Region, Competition, Forecast
& Opportunities, 2025”
has analyzed the potential of encoder market across the globe, and provides
statistics and information on market sizes, shares and trends. The report will suffice in
providing the intending clients with cutting-edge market intelligence and help
them in taking sound investment decisions. Besides, the report also identifies
and analyzes emerging trends along with essential drivers and key challenges
faced by the global encoder market.
Contact:
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