Strong Growth Projected for Global Encoder Market: Sales Expected to Reach US$ 4.8 Billion by 2033, with a CAGR of 7.6% | Future Market Insights, Inc.

NEWARK, DE / ACCESSWIRE / May 30, 2023 / Over the anticipated period, the encoder market is anticipated to register a CAGR of 7.6%. The estimated value of encoder sales is US$ 2.3 billion in 2023 and US$ 4.8 billion in 2033.

The encoder market is expanding as a result of the rising demand for encoders from a variety of end-use industries. Including the automotive, electronics, textile, and printing machines sectors. The market expansion for encoders is being fueled by the increased awareness of safety and security measures.

Encoder Technology Advances Revolutionising Data Processing for Improved Performance and Efficiency. Encoder Market to Hit US$ 4.8 billion by 2033 | Report by Future Market Insights, Inc.

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Rising Interest in Robotics and Automation

The encoder market is primarily driven by the growing use of automation and robotics in a variety of industries. For these systems to function smoothly and efficiently, encoders are crucial parts that provide exact and accurate data on location, speed, and direction.

Modernization of Industrial and Manufacturing Processes

Industries including manufacturing, automotive, and aerospace are always looking for ways to streamline their operations and increase efficiency. For optimization, mistake detection, and quality control in various operations. Encoders are essential for monitoring and managing motion. This factor surges the encoder market growth.

Machine Learning and Artificial Intelligence Integration

Encoders give enormous opportunities when used with artificial intelligence and machine learning technology. Predictive maintenance, anomaly detection, and machine performance optimization are all made possible by AI-powered encoders' ability to analyze and interpret data in real time.

Penetration of Developing Nations

Encoder demand is rising across a variety of industries as emerging nations continue to advance and industrialize. Encoder manufacturers have a lot of opportunities to enter new markets thanks to the growth of the infrastructure, manufacturing, and energy sectors in these areas.

Growth in the Aerospace and Defence Industries

Encoders are needed for a variety of applications in the aerospace and defense sectors, such as satellite location, missile guidance systems, and aircraft navigation. These industries are seeing an increase in investment, which presents the potential for encoders with improved precision, dependability, and durability.

Environmental Difficulties

Encoders are frequently subjected to challenging conditions such as high temperatures, humidity, dust, and vibrations. These circumstances may affect the encoders' functionality and durability, resulting in reliability difficulties and higher maintenance needs. Manufacturers may be constrained by the difficulty of creating encoders that can endure such harsh conditions.

High Initial Outlay

Encoders can be expensive up front, particularly high-precision and sophisticated types. Cost-conscious consumers or industries with limited resources may be put off by this expense, which prevents their adoption and market expansion.

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Regional Dynamics in the Global Encoder Industry

Due to the existence of well-established businesses including manufacturing, automotive, aerospace, and robotics, North America is a mature market. Due to the use of automation and continued technical improvements, the region receives steady demand. The development of driverless vehicles, healthcare applications, and the presence of significant encoder producers all support market growth.

Due to the increase in manufacturing operations, industrial automation, and the existence of emerging economies, the Asia Pacific region is a market that is quickly expanding. Strong electronics, automotive, and robotics industries in nations like China, Japan, and South Korea are significant market growth contributors. The demand for encoders is increased by rising infrastructure development and smart city initiatives.

Key Takeaways

• North American encoder market to acquire a market share of 26.9% from 2023 to 2033.
• European encoder business to grab a market share of 19.7% between 2023 and 2033.
• The United Kingdom's encoder business registered a CAGR of 6.8% during the forecast period.
• India's encoder industry to expand at a CAGR of 7.9% between 2023 and 2033.
• China's encoder industry to record a CAGR of 8.4% from 2023 to 2033.
• Absolute encoder segment by product category to hold a market share of 58.3% during the forecast period.
• Absolute rotary encoder segment by position signal category to hold a market share of 55.2% during the forecast period.

Competitive Landscape

The encoder market is dominated by numerous encoder manufacturers, including Omron Corporation, Honeywell, Heidenhain GmbH, Baumer Group, and Posital Fraba Inc. The ability to create high volumes of encoders, a crucial component in ensuring improved profits and economies of scale in the sensor business, is provided by the companies' advantage of a sizable customer base.

Strong brands are associated with high performance; established encoder manufacturers are anticipated to have an advantage. The level of competitive rivalry can likely remain strong due to their market dominance and capacity to provide cutting-edge items.

Recent Breakthroughs

• Rockwell Automation Inc. purchased CUBIC

With this acquisition, the company hopes to expand its offering of cutting-edge intelligent motor control solutions.

• Authorization Received From POSITAL for ATEX/IECEx

The ATEX/IECEx criteria for Category 3 electrical equipment were authorized for the explosion-proof IXARC rotary encoders from POSITAL in March 2022. These instruments are ideal for usage in Zone 2 and Zone 22 situations (potential exposure to hazardous levels of explosive gases and flammable dust). This includes chemical factories, carpentry shops, and grain handling facilities.

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Key Players

• OMRON Corporation
• Baumer Electric AG
• Schneider Electric
• Panasonic Corporation
• Renishaw plc
• Honeywell International, Inc.
• Rockwell Automation, Inc.
• Dynapar
• Fraba B.V.
• Wachendorff Automation GmbH & Co. KG
• Fenac Engineering
• Heidenhain Corporation
• Mitutoyo Corporation
• TE Connectivity
• BEI Sensors

Encoder Industry Segmentation

By Type:

• Linear Encoders
• Rotary Encoders

By Position Signal:

• Absolute Encoders
• Incremental Encoders

By Sensing Technology:

• Optical Sensing Encoders
• Magnetic Sensing Encoders
• Capacitive Encoders
• Inductive Encoders

By Application:

• Automotive
• Consumer Electronics
• Aerospace & Defense
• Healthcare & Medical Devices
• Industrial
• Others

By Region:

• North America
• Latin America
• Europe
• East Asia
• South Asia and the Pacific
• The Middle East and Africa

Table of Content

1. Executive Summary

1.1. Global Market Outlook

1.2. Demand-side Trends

1.3. Supply-side Trends

1.4. Technology Roadmap Analysis

1.5. Analysis and Recommendations

2. Market Overview

2.1. Market Coverage / Taxonomy

2.2. Market Definition / Scope / Limitations

3. Market Background

3.1. Market Dynamics

3.1.1. Drivers

3.1.2. Restraints

3.1.3. Opportunity

3.1.4. Trends

3.2. Scenario Forecast

3.2.1. Demand in Optimistic Scenario

3.2.2. Demand in Likely Scenario

3.2.3. Demand in Conservative Scenario

3.3. Opportunity Map Analysis

3.4. Investment Feasibility Matrix

3.5. PESTLE and Porter's Analysis

3.6. Regulatory Landscape

3.6.1. By Key Regions

3.6.2. By Key Countries

3.7. Regional Parent Market Outlook

4. Global Market Analysis 2018 to 2022 and Forecast, 2023 to 2033

4.1. Historical Market Size Value (US$ Million) Analysis, 2018 to 2022

4.2. Current and Future Market Size Value (US$ Million) Projections, 2023 to 2033

4.2.1. Y-o-Y Growth Trend Analysis

4.2.2. Absolute $ Opportunity Analysis

5. Global Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Type

Complete TOC: https://www.futuremarketinsights.com/toc/rep-gb-7696

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