Encoder Market Size and Growth
The encoder market has been witnessing significant growth due to the increasing demand for automation and precision control across various industries. Encoders, which convert motion into electrical signals, play a vital role in applications such as robotics, industrial automation, and automotive manufacturing. In 2023, the global encoder market was valued at USD 2.7 billion and is projected to reach USD 4.5 billion by 2028, growing at a CAGR of 10.1%
Companies Covered : (Covid-19 Impact Covered)
• Heidenhain
• Renishaw
• TE Connectivity
• Rockwell Automation
• Honeywell
These companies are focusing on developing advanced encoders with higher resolution, reliability, and compatibility with various industrial systems.
Encoder Market Segmentation
By Application
Robotics
Automotive
Product
Rotary Encoders
Linear Encoders
Encoder Market Growth 2024-2030
$ X Billion USD
Market Size (USD)
