Portland, OR, Oct. 18, 2022 (GLOBE NEWSWIRE) -- According to the report published by Allied Market Research, the global encoder market generated $2.3 billion in 2021, and is projected to reach $5.1 billion by 2031, growing at a CAGR of 8.4% from 2022 to 2031.The report offers a detailed analysis of the top winning strategies, evolving market trends, market size and estimations, value chain, key investment pockets, drivers & opportunities, competitive landscape and regional landscape. The report is a useful source of information for new entrants, shareholders, frontrunners and shareholders in introducing necessary strategies for the future and taking essential steps to significantly strengthen and heighten their position in the market.

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Report Coverage and Details:

Report CoverageDetails
Forecast Period2022­–2031
Base Year2021
Market Size in 2021$2.3 billion
Market Size in 2031$5.1 billion
CAGR8.4%
No. of Pages in Report266
Segments CoveredType, Technology, Industry Vertical, and Region.
DriversIncrease in the adoption of encoders for communication between controls & monitoring of machines
Surge in need for high-end automation across industries
OpportunitiesGrowth in the popularity of artificial intelligence-based systems
Persistent technological advancements
RestrainsVariations in international regulations

COVID-19 Scenario:

The report offers detailed segmentation of the global encoder market based on type, technology, industry vertical, and region. The report provides a comprehensive analysis of every segment and their respective sub-segment with the help of graphical and tabular representation. This analysis can essentially help market players, investors, and new entrants in determining and devising strategies based on fastest growing segments and highest revenue generation that is mentioned in the report.

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Based on type, the rotary segment held the largest market share in 2021, holding more than three-fifths of the global encoder market share, and is expected to maintain its leadership status during the forecast period. In addition, the same segment is expected to cite the fastest CAGR of 8.64% during the forecast period. The report also analyses other segments such as linear.

Based on technology, the optical segment held the dominating market share in 2021, holding more than two-fifths of the global encoder market share. The magnetic segment, on the other hand, is expected to maintain its leadership status during the forecast period. In addition, the same segment is expected to cite the fastest CAGR of 10.85%.

Based on industry vertical, the industrial segment held the largest market share in 2021, holding more than two-fifths of the global encoder market share, and is expected to maintain its leadership status during the forecast period. In addition, the same segment is expected to cite the fastest CAGR of 9.71% during the forecast period. The report also analyses other segments such as Healthcare, Printing Machinery, Textile, and others.

Based on region, the market across Asia-Pacific region held the dominating the global encoder market share in 2021, holding more than two-fifths of the global market share, and is expected to maintain its leadership status during the forecast period. In addition, the same region is expected to cite the fastest CAGR of 9.16% during the forecast period. The report also analyses other regions such as North America, Europe, and LAMEA.

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The key players analysed in the global encoder market report include Alps Alpine Co., Ltd., Bourns, Inc., Broadcom Inc., CUI Devices, Dynapar, ELCO Holding, Fenace Auto Ltd., FRABA B.V., Grayhill Inc., HEIDENHAIN, Omron Corporation, Panasonic Corporation, Rockwell Automation, Inc., Schneider Electric, Sensata Technologies, Inc., TE Connectivity, and TT Electronics Plc.

The report analyzes these key players in the global encoder market. These market players have made effective use of strategies such as joint ventures, collaborations, expansion, new product launches, partnerships, and others to maximize their foothold and prowess in the industry. The report is helpful in analyzing recent developments, product portfolio, business performance and operating segments by prominent players in the market. 

Key Benefits For Stakeholders:

Encoder Market Key Segments:
By Type:

By Technology:

By Industry Vertical:

By Region:

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