Encoder Market to Witness the Highest Growth in Asia Pacific Region

The encoder market is projected to grow from USD 2.7 billion in 2022 to USD 4.3 billion in 2027 at a CAGR of 9.7% from 2022 to 2027. The increasing demand for machine learning and artificial intelligence-based systems and innovative technologies in automotive and UAV industry are factors creating lucrative opportunities for the players in the encoder market.

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The rotary encoder segment is expected to grow at the highest CAGR during the forecast period. These rotary encoder converts the angular position, rotations, or motion of the shaft into the analog or digital signals. They are used in a wide range of applications here controlling and monitoring is required. These rotary encoder is reliable, accurate, and compact in size, and comes with integrated electronics. However, it is vulnerable to oil, dirt, and contaminants of dust.

The industrial segment held the largest share of the encoder market in 2021, and this trend is expected to continue during the forecast period. Encoders in industrial applications are used for linear measurement, registration of mark timing, web tensioning, backstop gauging, conveying, and filling. The most common application is providing feedback in motion control of electric motors. In the industrial sector, nearly half of the electricity consumed is used to power electric motors; the majority of these motors are equipped with encoders.

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The Asia Pacific market is expected to grow at the highest CAGR from 2022 to 2027. The growth of the encoder market in Asia Pacific is primarily attributed to the increasing number of manufacturing and engineering hubs related to various industries. Furthermore, the concept of autonomous, electric, and connected cars has fueled the growth of the automotive industry in Asia Pacific. China has been a potential market for all emerging technologies such as robotics and factory automation. The encoder market is likely to grow significantly in countries such as Taiwan and India, as these systems are perceived as key enablers of industry modernization.

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This release was published on openPR.