Product Code: TIPTE100000522
The encoder market size is expected to reach US$ 6.21 billion by 2031 from 2.81 billion in 2023, at an estimated CAGR of 10.4% from 2023 to 2031.
By Geography the Encoder market is segmented into North America, Europe, Asia Pacific, Middle East and Africa, and South and Central America. In 2023, the Asia Pacific regions is growing with a significant growth rate. The encoder market in APAC is segmented into China, India, Japan, Australia, South Korea, and the Rest of APAC. Rising demand for advanced manufacturing technologies such as computerized numerical control (CNC) machines drives the encoder market. Encoders are commonly employed in closed-loop control systems of CNC machines to ensure precise movement and positioning during machining operations. They translate mechanical action into electrical signals that are processed by the CNC controller, allowing the machine to make precise cuts and motions in accordance with programmed instructions. Numerous industries across the globe are adopting CNC machines to automate their production lines, which increases the adoption of encoders to ensure precise movement and positioning of machines. For instance, according to Piran Advanced Composites data published in May 2024, CNC machines are highly used in aerospace, automotive, marine, medical, and renewable energy sectors to automate manufacturing processes. Encoder CNC machine's ability to detect and correct errors, minimizing downtime and improving overall production efficiency. Without encoders, CNC machines struggle to deliver the high levels of precision and reliability demanded in modern manufacturing processes.
According to ANYbotics AG data, the government of Singapore organized the SPRINT Robotics APAC Summit to create awareness of the premier inspection and maintenance of robots and the benefits of using robots for automating industrial processes. The adoption of robots among industries surges the requirement of encoders to provide exact control of motors and actuators, allowing the robot to complete tasks with high precision. Thus, increasing awareness related to benefits offered by industrial robots and government initiatives toward the adoption of robots is fueling the market in APAC.
The Encoder market analysis has been carried out by considering the following segments: Type and Technology.
Based on type the global encoder market is segmented into linear and rotary. Rotary encoders provide feedback on the movement of a rotating object or equipment, such as a motor shaft, robotics, and machinery where rotational motion control is crucial. This type of encoder translates the moving shaft's angular position into an analog or digital output signal, allowing a control system to determine the shaft's position or speed. Rotary encoders can have shafts or consist of the thru-bore encoder design, which supports direct installation on top of a rotating shaft such as a motor. Thru-bore encoders are available in a variety of diameters and have clamp or set screw mounting options, making the device ideal for use in machine design applications. Flanges are used to place the encoder and prevent it from rotating together with the moving shaft.
Moreover, factor such as rise in demand from automotive industry and surge in product development by manufacturers propel the encoder market growth. Also, emerging usage of encoders in medical and healthcare devices is expected to bring new encoder market trends in the coming years.
Based on technology the global encoder market is segmented into optical, magnetic, inductive, and others. Optical encoders are the most precise of all sensor technologies. A rotary optical encoder comprises a light source, such as an LED, and a revolving disk with a pattern of opaque lines and alternating translucent slots. As the disk rotates, light flows through the translucent slot and is detected by a photosensor located on the opposite side. The photosensor provides a sinusoidal electrical signal in response to the presence of light observed in the translucent slots and the absence of light from the opaque lines. An electrical circuit then turns the sinusoidal signal into a square wave signal, which is made up of high and low pulses. These pulses are transmitted to a control circuit, which can count the pulses as the encoder rotates, allowing it to detect the location of the spinning shaft or perform an action based on movement or position. These encoders are often used in clean areas such as laboratories, semiconductor production, and other industries requiring precision.
Asahi Kasei Microdevices Corp, Vishay Intertechnology Inc, Sick AG, Honeywell International Inc, ROHM Co Ltd, Allegro MicroSystems Inc, Autonics Corporation, On Semiconductor Corp, Texas Instruments Inc, Analog Devices Inc, Microchip Technology Inc, STMicroelectronics NV, Broadcom Inc, OMRON Corp, and Panasonic Holdings Corp are among the key players profiled in the encoder market report.
The Encoder market forecast is estimated on the basis of various secondary and primary research findings such as key company publications, association data, and databases. Exhaustive secondary research has been conducted using internal and external sources to obtain qualitative and quantitative information related to the Encoder market growth. The process also helps obtain an overview and forecast of the market with respect to all the market segments. Also, multiple primary interviews have been conducted with industry participants to validate the data and gain analytical insights. This process includes industry experts such as VPs, business development managers, market intelligence managers, and national sales managers, along with external consultants such as valuation experts, research analysts, and key opinion leaders, specializing in the Encoder market.
Table Of Contents
1. Introduction
- 1.1 The Insight Partners Research Report Guidance
- 1.2 Market Segmentation
2. Executive Summary
- 2.1 Key Insights
- 2.2 Market Attractiveness
3. Research Methodology
- 3.1 Secondary Research
- 3.2 Primary Research
- 3.2.1 Hypothesis formulation:
- 3.2.2 Macro-economic factor analysis:
- 3.2.3 Developing base number:
- 3.2.4 Data Triangulation:
- 3.2.5 Country level data:
4. Encoder Market Landscape
- 4.1 Overview
- 4.2 PEST Analysis
- 4.3 Encoder IC Company Mapping
- 4.3.1 Encoder IC Company Mapping
- 4.4 Ecosystem Analysis
- 4.4.1 List of Vendors in Value Chain
- 4.5 Encoder Market Share Analysis, 2023
- 4.6 Encoder Market - Product Mapping, By Category
- 4.6.1 Encoder Market - Product Mapping, By Category
5. Encoder Market - Key Market Dynamics
- 5.1 Encoder Market - Key Market Dynamics
- 5.2 Market Drivers
- 5.2.1 Rise in Demand from Automotive Industry
- 5.2.2 Surge in Product Development by Manufacturers
- 5.2.3 High Demand for Industrial Automation Solutions
- 5.3 Market Restraints
- 5.3.1 Availability of Substitute Products
- 5.4 Market Opportunities
- 5.4.1 Technological Advancements in Encoders
- 5.5 Future Trends
- 5.5.1 Emerging Usage of Encoders in Medical and Healthcare Devices
- 5.6 Impact of Drivers and Restraints:
6. Encoder Market - Global Market Analysis
- 6.1 Encoder Market Revenue (US$ Million), 2021-2031
- 6.2 Encoder Market Forecast Analysis
7. Encoder Market Analysis - by Type
- 7.1 Linear
- 7.1.1 Overview
- 7.1.2 Linear: Encoder Market - Revenue and Forecast to 2031 (US$ Million)
- 7.2 Rotary
- 7.2.1 Overview
- 7.2.2 Rotary: Encoder Market - Revenue and Forecast to 2031 (US$ Million)
8. Encoder Market Analysis - by Technology
- 8.1 Optical
- 8.1.1 Overview
- 8.1.2 Optical: Encoder Market - Revenue and Forecast to 2031 (US$ Million)
- 8.2 Magnetic
- 8.2.1 Overview
- 8.2.2 Magnetic: Encoder Market - Revenue and Forecast to 2031 (US$ Million)
- 8.3 Inductive
- 8.3.1 Overview
- 8.3.2 Inductive: Encoder Market - Revenue and Forecast to 2031 (US$ Million)
- 8.4 Others
- 8.4.1 Overview
- 8.4.2 Others: Encoder Market - Revenue and Forecast to 2031 (US$ Million)
9. Encoder Market - Geographical Analysis
- 9.1 Overview
- 9.2 North America
- 9.2.1 North America Encoder Market Overview
- 9.2.2 North America: Encoder Market - Revenue and Forecast to 2031 (US$ Million)
- 9.2.3 North America: Encoder Market Breakdown, by Type
- 9.2.3.1 North America: Encoder Market - Revenue and Forecast Analysis - by Type
- 9.2.4 North America: Encoder Market Breakdown, by Technology
- 9.2.4.1 North America: Encoder Market - Revenue and Forecast Analysis - by Technology
- 9.2.5 North America: Encoder Market - Revenue and Forecast Analysis - by Country
- 9.2.5.1 North America: Encoder Market - Revenue and Forecast Analysis - by Country
- 9.2.5.2 United States: Encoder Market - Revenue and Forecast to 2031 (US$ Million)
- 9.2.5.2.1 United States: Encoder Market Breakdown, by Type
- 9.2.5.2.2 United States: Encoder Market Breakdown, by Technology
- 9.2.5.3 Canada: Encoder Market - Revenue and Forecast to 2031 (US$ Million)
- 9.2.5.3.1 Canada: Encoder Market Breakdown, by Type
- 9.2.5.3.2 Canada: Encoder Market Breakdown, by Technology
- 9.2.5.4 Mexico: Encoder Market - Revenue and Forecast to 2031 (US$ Million)
- 9.2.5.4.1 Mexico: Encoder Market Breakdown, by Type
- 9.2.5.4.2 Mexico: Encoder Market Breakdown, by Technology
- 9.3 Europe
- 9.3.1 Europe Encoder Market Overview
- 9.3.2 Europe: Encoder Market - Revenue and Forecast to 2031 (US$ Million)
- 9.3.3 Europe: Encoder Market Breakdown, by Type
- 9.3.3.1 Europe: Encoder Market - Revenue and Forecast Analysis - by Type
- 9.3.4 Europe: Encoder Market Breakdown, by Technology
- 9.3.4.1 Europe: Encoder Market - Revenue and Forecast Analysis - by Technology
- 9.3.5 Europe: Encoder Market - Revenue and Forecast Analysis - by Country
- 9.3.5.1 Europe: Encoder Market - Revenue and Forecast Analysis - by Country
- 9.3.5.2 Germany: Encoder Market - Revenue and Forecast to 2031 (US$ Million)
- 9.3.5.2.1 Germany: Encoder Market Breakdown, by Type
- 9.3.5.2.2 Germany: Encoder Market Breakdown, by Technology
- 9.3.5.3 France: Encoder Market - Revenue and Forecast to 2031 (US$ Million)
- 9.3.5.3.1 France: Encoder Market Breakdown, by Type
- 9.3.5.3.2 France: Encoder Market Breakdown, by Technology
- 9.3.5.4 Italy: Encoder Market - Revenue and Forecast to 2031 (US$ Million)
- 9.3.5.4.1 Italy: Encoder Market Breakdown, by Type
- 9.3.5.4.2 Italy: Encoder Market Breakdown, by Technology
- 9.3.5.5 United Kingdom: Encoder Market - Revenue and Forecast to 2031 (US$ Million)
- 9.3.5.5.1 United Kingdom: Encoder Market Breakdown, by Type
- 9.3.5.5.2 United Kingdom: Encoder Market Breakdown, by Technology
- 9.3.5.6 Russia: Encoder Market - Revenue and Forecast to 2031 (US$ Million)
- 9.3.5.6.1 Russia: Encoder Market Breakdown, by Type
- 9.3.5.6.2 Russia: Encoder Market Breakdown, by Technology
- 9.3.5.7 Rest of Europe: Encoder Market - Revenue and Forecast to 2031 (US$ Million)
- 9.3.5.7.1 Rest of Europe: Encoder Market Breakdown, by Type
- 9.3.5.7.2 Rest of Europe: Encoder Market Breakdown, by Technology
- 9.4 Asia Pacific
- 9.4.1 Asia Pacific Encoder Market Overview
- 9.4.2 Asia Pacific: Encoder Market - Revenue and Forecast to 2031 (US$ Million)
- 9.4.3 Asia Pacific: Encoder Market Breakdown, by Type
- 9.4.3.1 Asia Pacific: Encoder Market - Revenue and Forecast Analysis - by Type
- 9.4.4 Asia Pacific: Encoder Market Breakdown, by Technology
- 9.4.4.1 Asia Pacific: Encoder Market - Revenue and Forecast Analysis - by Technology
- 9.4.5 Asia Pacific: Encoder Market - Revenue and Forecast Analysis - by Country
- 9.4.5.1 Asia Pacific: Encoder Market - Revenue and Forecast Analysis - by Country
- 9.4.5.2 China: Encoder Market - Revenue and Forecast to 2031 (US$ Million)
- 9.4.5.2.1 China: Encoder Market Breakdown, by Type
- 9.4.5.2.2 China: Encoder Market Breakdown, by Technology
- 9.4.5.3 Japan: Encoder Market - Revenue and Forecast to 2031 (US$ Million)
- 9.4.5.3.1 Japan: Encoder Market Breakdown, by Type
- 9.4.5.3.2 Japan: Encoder Market Breakdown, by Technology
- 9.4.5.4 India: Encoder Market - Revenue and Forecast to 2031 (US$ Million)
- 9.4.5.4.1 India: Encoder Market Breakdown, by Type
- 9.4.5.4.2 India: Encoder Market Breakdown, by Technology
- 9.4.5.5 South Korea: Encoder Market - Revenue and Forecast to 2031 (US$ Million)
- 9.4.5.5.1 South Korea: Encoder Market Breakdown, by Type
- 9.4.5.5.2 South Korea: Encoder Market Breakdown, by Technology
- 9.4.5.6 Australia: Encoder Market - Revenue and Forecast to 2031 (US$ Million)
- 9.4.5.6.1 Australia: Encoder Market Breakdown, by Type
- 9.4.5.6.2 Australia: Encoder Market Breakdown, by Technology
- 9.4.5.7 Rest of APAC: Encoder Market - Revenue and Forecast to 2031 (US$ Million)
- 9.4.5.7.1 Rest of APAC: Encoder Market Breakdown, by Type
- 9.4.5.7.2 Rest of APAC: Encoder Market Breakdown, by Technology
- 9.5 Middle East and Africa
- 9.5.1 Middle East and Africa Encoder Market Overview
- 9.5.2 Middle East and Africa: Encoder Market - Revenue and Forecast to 2031 (US$ Million)
- 9.5.3 Middle East and Africa: Encoder Market Breakdown, by Type
- 9.5.3.1 Middle East and Africa: Encoder Market - Revenue and Forecast Analysis - by Type
- 9.5.4 Middle East and Africa: Encoder Market Breakdown, by Technology
- 9.5.4.1 Middle East and Africa: Encoder Market - Revenue and Forecast Analysis - by Technology
- 9.5.5 Middle East and Africa: Encoder Market - Revenue and Forecast Analysis - by Country
- 9.5.5.1 Middle East and Africa: Encoder Market - Revenue and Forecast Analysis - by Country
- 9.5.5.2 United Arab Emirates: Encoder Market - Revenue and Forecast to 2031 (US$ Million)
- 9.5.5.2.1 United Arab Emirates: Encoder Market Breakdown, by Type
- 9.5.5.2.2 United Arab Emirates: Encoder Market Breakdown, by Technology
- 9.5.5.3 Saudi Arabia: Encoder Market - Revenue and Forecast to 2031 (US$ Million)
- 9.5.5.3.1 Saudi Arabia: Encoder Market Breakdown, by Type
- 9.5.5.3.2 Saudi Arabia: Encoder Market Breakdown, by Technology
- 9.5.5.4 South Africa: Encoder Market - Revenue and Forecast to 2031 (US$ Million)
- 9.5.5.4.1 South Africa: Encoder Market Breakdown, by Type
- 9.5.5.4.2 South Africa: Encoder Market Breakdown, by Technology
- 9.5.5.5 Rest of Middle East and Africa: Encoder Market - Revenue and Forecast to 2031 (US$ Million)
- 9.5.5.5.1 Rest of Middle East and Africa: Encoder Market Breakdown, by Type
- 9.5.5.5.2 Rest of Middle East and Africa: Encoder Market Breakdown, by Technology
- 9.6 South and Central America
- 9.6.1 South and Central America Encoder Market Overview
- 9.6.2 South and Central America: Encoder Market - Revenue and Forecast to 2031 (US$ Million)
- 9.6.3 South and Central America: Encoder Market Breakdown, by Type
- 9.6.3.1 South and Central America: Encoder Market - Revenue and Forecast Analysis - by Type
- 9.6.4 South and Central America: Encoder Market Breakdown, by Technology
- 9.6.4.1 South and Central America: Encoder Market - Revenue and Forecast Analysis - by Technology
- 9.6.5 South and Central America: Encoder Market - Revenue and Forecast Analysis - by Country
- 9.6.5.1 South and Central America: Encoder Market - Revenue and Forecast Analysis - by Country
- 9.6.5.2 Brazil: Encoder Market - Revenue and Forecast to 2031 (US$ Million)
- 9.6.5.2.1 Brazil: Encoder Market Breakdown, by Type
- 9.6.5.2.2 Brazil: Encoder Market Breakdown, by Technology
- 9.6.5.3 Argentina: Encoder Market - Revenue and Forecast to 2031 (US$ Million)
- 9.6.5.3.1 Argentina: Encoder Market Breakdown, by Type
- 9.6.5.3.2 Argentina: Encoder Market Breakdown, by Technology
- 9.6.5.4 Rest of South and Central America: Encoder Market - Revenue and Forecast to 2031 (US$ Million)
- 9.6.5.4.1 Rest of South and Central America: Encoder Market Breakdown, by Type
- 9.6.5.4.2 Rest of South and Central America: Encoder Market Breakdown, by Technology
10. Competitive Landscape
- 10.1 Heat Map Analysis by Key Players
- 10.2 Company Positioning & Concentration
11. Industry Landscape
- 11.1 Overview
- 11.2 Market Initiative
- 11.3 Merger and Acquisition
12. Company Profiles
- 12.1 Asahi Kasei Microdevices Corp
- 12.1.1 Key Facts
- 12.1.2 Business Description
- 12.1.3 Products and Services
- 12.1.4 Financial Overview
- 12.1.5 SWOT Analysis
- 12.1.6 Key Developments
- 12.2 Vishay Intertechnology Inc
- 12.2.1 Key Facts
- 12.2.2 Business Description
- 12.2.3 Products and Services
- 12.2.4 Financial Overview
- 12.2.5 SWOT Analysis
- 12.2.6 Key Developments
- 12.3 Sick AG
- 12.3.1 Key Facts
- 12.3.2 Business Description
- 12.3.3 Financial Overview
- 12.3.4 SWOT Analysis
- 12.3.5 Key Developments
- 12.4 Honeywell International Inc
- 12.4.1 Key Facts
- 12.4.2 Business Description
- 12.4.3 Products and Services
- 12.4.4 Financial Overview
- 12.4.5 SWOT Analysis
- 12.4.6 Key Developments
- 12.5 ROHM Co Ltd
- 12.5.1 Key Facts
- 12.5.2 Business Description
- 12.5.3 Products and Services
- 12.5.4 Financial Overview
- 12.5.5 SWOT Analysis
- 12.5.6 Key Developments
- 12.6 Allegro MicroSystems Inc
- 12.6.1 Key Facts
- 12.6.2 Business Description
- 12.6.3 Products and Services
- 12.6.4 Financial Overview
- 12.6.5 SWOT Analysis
- 12.6.6 Key Developments
- 12.7 Autonics Corporation
- 12.7.1 Key Facts
- 12.7.2 Business Description
- 12.7.3 Products and Services
- 12.7.4 Financial Overview
- 12.7.5 SWOT Analysis
- 12.7.6 Key Developments
- 12.8 On Semiconductor Corp
- 12.8.1 Key Facts
- 12.8.2 Business Description
- 12.8.3 Products and Services
- 12.8.4 Financial Overview
- 12.8.5 SWOT Analysis
- 12.8.6 Key Developments
- 12.9 Texas Instruments Inc
- 12.9.1 Key Facts
- 12.9.2 Business Description
- 12.9.3 Products and Services
- 12.9.4 Financial Overview
- 12.9.5 SWOT Analysis
- 12.9.6 Key Developments
- 12.10 Analog Devices Inc
- 12.10.1 Key Facts
- 12.10.2 Business Description
- 12.10.3 Products and Services
- 12.10.4 Financial Overview
- 12.10.5 SWOT Analysis
- 12.10.6 Key Developments
- 12.11 Microchip Technology Inc
- 12.11.1 Key Facts
- 12.11.2 Business Description
- 12.11.3 Products and Services
- 12.11.4 Financial Overview
- 12.11.5 SWOT Analysis
- 12.11.6 Key Developments
- 12.12 STMicroelectronics NV
- 12.12.1 Key Facts
- 12.12.2 Business Description
- 12.12.3 Products and Services
- 12.12.4 Financial Overview
- 12.12.5 SWOT Analysis
- 12.12.6 Key Developments
- 12.13 Broadcom Inc
- 12.13.1 Key Facts
- 12.13.2 Business Description
- 12.13.3 Products and Services
- 12.13.4 Financial Overview
- 12.13.5 SWOT Analysis
- 12.13.6 Key Developments
- 12.14 OMRON Corp
- 12.14.1 Key Facts
- 12.14.2 Business Description
- 12.14.3 Financial Overview
- 12.14.4 SWOT Analysis
- 12.14.5 Key Developments
- 12.15 Panasonic Holdings Corp
- 12.15.1 Key Facts
- 12.15.2 Business Description
- 12.15.3 Products and Services
- 12.15.4 Financial Overview
- 12.15.5 SWOT Analysis
- 12.15.6 Key Developments
13. Appendix
- 13.1 About The Insight Partners
- 13.2 Word Index