Encoder Market

Encoder Market by Encoder Type (Linear and Rotary), Signal Type (Incremental, Absolute), Technology (Optical, Magnetic, Inductive), Application (Automotive, Consumer Electronics, Industrial, Power) and Region - Global Forecast to 2027

Report Code: SE 7256 Nov, 2022, by marketsandmarkets.com

Encoder Market

Encoder Market And Top Companies

DYNAPAR

Dynapar Corporation is a subsidiary of Fortive—an electrical and electronics manufacturing group. The parent company offers its products through three business segments, namely, Intelligent Operating Solutions, Precision Technologies, and Advanced Healthcare Solutions, wherein Dynapar Corporation is a part of the precision technologies business segment. Dynapar offers a wide range of products and solutions, such as rotary encoders, resolvers, encoder accessories, condition monitoring, and condition monitoring applications. It offers various encoders through brands such as Dynapar, NorthStar, Harowe, and Hengstler. The company is associated with some of the Brand Standard Associations—ANSI, ASME, CSA Group, ISO, and others; Brand Communication Protocols—BiSS Interface, DeviceNet, Inetrbus, and Profibus; and Band Recognized Distributor Partners—AHTD, Fortive, DDC, Marathon, and Technosoft.

SENSATA TECHNOLOGIES

Sensata Technologies is a global industrial technology company and a pioneer in mission-critical sensors and controls. The company has a diverse product portfolio and has been catering to a wide range of verticals, such as aerospace & defense, energy, industrial, material handling, medical, motors, and professional food equipment. In 2018, Sensata manufactured and provided more than 47,000 products to its customers. The company operates through two major business segments—Performance Sensing and Sensing Solutions, wherein the encoders are part of the Sensing Solutions segment. The position sensors and encoders are marketed through brands such as Kavlico, BEI Sensors, and Newall. The rotary and linear encoders prove to have high quality, durability, accuracy, repeatability, reliability in tough environments, and competitive pricing. The company has a large presence across the globe, with business centers and manufacturing and sales sites located in 13 countries.

HEIDENHAIN

HEIDENHAIN is a pioneer in measurement control and drive system technologies. Major offerings of the company include linear encoders, angle encoders, rotary encoders, CNC controls, and digital readouts. These products are mainly used in high-precision machine tools as well as electric component manufacturing and distribution plants. Further, the company’s expertise in encoders has enabled it to automate production machines and systems and attain a prime position in the market. HEIDENHAIN provides its diverse product portfolio under the brands AMO, ETEL, IMT, LTN, NUMERIK JENA, RENCO, and RSF to most of the industries and applications, such as machine tools, automation, semiconductors, electronics, metrology, robotics, drive systems, medical technology, elevators, printing machines, structural health monitoring, and telescopes. The company has its sales agencies, service agencies, subsidiaries, as well as a distribution network. It has a cumulative of 30 subsidiaries and 40 distributors located across the globe. Additionally, its high emphasis on research and development has aided the company to focus mainly on innovation and development of advanced technologies.

Encoder Market and Top Applications

Consumer Electronics

Consumer electronics is one of the fastest-growing markets for encoders. In this industry, encoders are widely used in office equipment such as PC-based scanning equipment, printers, copiers, answering machines, and scanners. For instance, many industrial inkjet printing systems are equipped with a rotary encoder to track the motion of the object to be printed. This enables the print head to apply the image to a precisely controlled location on the object. Furthermore, an evident surge has been noticed in the use of encoders in APAC and North America for consumer electronics applications owing to the rapid adoption of new technologies and the presence of many consumer electronics giants, such as Apple (US), Samsung Electronics (South Korea), Huawei (China), Sony Corporation (Japan), HP Inc. (US)

Healthcare

Healthcare applications require high precision, where encoders play a vital role by accurate positioning. Applications such as robotic surgery, oncological radiation treatment, and laboratory analysis are all benefiting due to the advancements in encoder technology. Surgery robots that are surgeon-assist-based are being more widely accepted in the healthcare sector. Some surgery robots are required to have redundancy for motion control components, while others can drill and measure distances at the same time, making accuracy especially important. Besides, some of the other applications of encoders in the healthcare sector are ophthalmic laser treatment, dialysis, artificial respiration, physical therapy, and orthopedic rehab. Encoders play a vital role in laboratory analysis due to the presence of multiple machines that perform critical tasks where precise and accurate measurements of the position, speed, and motion are important.

Encoder Market By Top Encoder Type

Rotary Encoder

The increasing demand for automated industrial machines and robotics is driving the growth of the rotary encoders market. Rotary encoders are electromechanical devices used to measure the number of rotations, rotational angle, and rotational position of equipment. They are used for position sensing across various applications, for example, on motors paired with drives and automated machinery in consumer electronics, elevators, conveyor speed monitors, industrial machines, and robotics. They track the turning of motor shafts to generate a digital position and motion information. Whether incremental or absolute, magnetic, or optical, rotary encoders track motor shaft rotation to generate a digital position and motion information. Rotary encoders are used in a wide range of applications that require monitoring or control, or both, of mechanical systems, including industrial controls, robotics, photographic lenses, computer input devices, and rotating radar platforms.

[215 Pages Report] The encoder market is projected to grow from USD 2.7 billion in 2022 to USD 4.3 billion by 2027; it is expected to grow at a Compound Annual Growth Rate (CAGR) of 9.7% from 2022 to 2027.

The market growth is driven by factors including rising need for high-end automation across industries and rising expansion of automotive markets driving the encoder demand. Additionally, increasing demand for machine learning and artificial intelligence-based systems is expected to create growth opportunities during the forecast period. However, accuracy related errors and mechanical failures in harsh environment are challenging the market growth.

Encoder Market

Encoder Market Forecast to 2027

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Encoders Market Dynamics

DRIVERS: Rising need for high-end automation across industries.

As the adoption of automation is booming in all industry, the usage of encoders is also increasing for various applications. For instance, the encoders are used in linear measurement, web tensioning, registration mark timing, backstop gauging, filling, conveying, etc. Similarly, in industry half of the electricity is used to power the electric motors, therefore majority of these electric motors use encoders to monitor or control the functions of the motors. Furthermore, encoders are also used in robotics, whether it’s an articulating arm used in a manufacturing plant or in a guided robot, all these use encoders. These automated systems need effective speed and positioning feedback systems to function the operation with limited human assistance. Therefore, the encoder is used in various applications where force sensing and adjustment is very important to precisely control the robotic system.

RESTRAINT: Accuracy-related errors.

Encoders are at the heart of any closed-loop servo system and provide feedback to the controller, which uses this information to determine if the motor has reached the commanded position or velocity and encoder feedback is essential for the performance of many automation applications. Hence, encoder accuracy is essential for the proper operation of a closed-loop system. Accuracy is the difference between the true position (or speed) of the device being measured and the position (or speed) reported by the encoder. Several interacting parameters affect encoder accuracy. These include the width and spacing of lines on the encoder disk or units which might introduce a small error in the timing of the pulses generated by the encoder. Once an encoder is manufactured, the addition of more lines or patterns to the code disk is not possible. Inconsistent width and/or spacing lead to errors in the timing of the pulses. For absolute encoders, accuracy is influenced by the precision with which the pattern is placed on the code disk.

OPPORTUNITIES: Increasing demand for machine learning and artificial intelligence-based systems.

Across the world, traditional systems are shifting toward Industry 4.0, also known as the Fourth Industrial Revolution. Using machine learning and artificial intelligence, Industry 4.0 will allow physical equipment or machines to communicate with control systems and act autonomously. For instance, customers return a defective product with a scratch or a food item past its expiration date. Defects can hurt a brand or retailer’s credibility in an era when maintaining consumer trust is critical. Therefore, many organizations have embraced artificial intelligence (AI) and automation to speed up supply chains, increase inventory and order accuracy, and improve quality control.

CHALLENGES: Mechanical failures in harsh environments.

Encoders are commonly used in harsh or challenging environments, such as food/beverage processing, heavy equipment industry, specialty vehicle manufacturing, energy generation, medical device manufacturing, and wastewater treatment facilities. In harsh environments, encoder failure is caused by solid particulate or liquid contamination, mechanical bearing overload, and signal output failure. As a result of any of these, the encoder ceases to operate, or the system operates erratically. Similarly, encoders are mostly come in contact with particulates such as sand, salt, small wood chips, or dust particles. These particulates enter the encoders and block the optical processing which results in failure of the device. Even industrial encoders with high IP rating will not withstand in such contamination for long. Therefore, use of encoder in harsh environment such as meeting moisture, extreme temperature, salt spray, chemical and vibration above limit results in encoder failure.

Absolute Encoder segment is expected to register highest CAGR during the forecast period

Absolute rotary encoders measure the actual position of the device/product by generating a stream of unique digital codes (instead of pulses) that represent the encoder’s actual position. They provide unique position values as soon as they are switched on by scanning the position of a coded element. Simialry, absolute linear encoders produce a digital output that signifies the unit’s actual position. These encoders assign a unique digital value to each position, which allows them to maintain precise position information, even in case of a power cut. Renishaw plc (UK), Fortive (Dynapar Corporation) (US), FRABA B.V. (The Netherlands), Sensata Technologies Holding plc (US), are some of the key players offer and develop absolute encoder.

Industrial application is expected to hold largest market share 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. For instance, encoders are used specifically in robotics for determining motion position, controlling joint position, measuring linear extension, and providing gripper & finger feedback and force feedback. Typical applications of robots in industries include welding, painting, assembly, picking and placing for printed circuit boards, packaging and labeling, palletizing, product inspection, and testing of high endurance, speed, and precision. Furthermore, these encoders are used in heavy duty to light duty applications. In the heavy-duty applications, the encoder has to operate in high temperature with particulates, moisture, contaminants and under shock of vibration whereas in light duty application, the encoder is used in consumer facing applications where conditions are under controlled like temperature, vibration, moisture, etc. Therefore, the encoder offers excellent speed and positioning performance with temperature resistance and reliable shock resistance. Thus, the increase in the adoption of robotics and factory automation is expected to fuel the demand for encoders in the industrial application segment.

Asia Pacific to grow at the highest CAGR during the forecast period

The increase in manufacturing and engineering hubs related to various industries attributed to the growth of the encoder market in theAsia pacific region. Countries Like, China has witnessed tremendous industrial growth for the past two decades and has overtaken the US to become the world’s largest producer of manufactured goods. The country is a hub for electronics & semiconductor components and the largest manufacturer of commercial vehicles. Furthermore, rapid economic growth and the emergence of numerous small- and medium-scale enterprises are contributing to the increasing demand for low-end MFPs in China, leading to the growth of the encoder market. South Korean robotic shipment ranked third globally, and the country has the highest density of industrial robots in the world. The automakers in Korea have adopted many robots, which help manufacture electric and hybrid vehicle batteries. The adoption of robotics and automation in the manufacturing industry boosting the demand of encoder in the country

Encoder Market by Region

Encoder Market by Region

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Key Market Players

Renishaw plc (UK), HEIDENHAIN (Germany), FRABA B.V. (The Netherlands), Sensata Technologies Holding plc (US), ifm electronics gmbh (Germany), Mitutoyo Corporation (Japan), Pepperl+Fuchs SE (Germany), Fortive (US), maxon motor ag (switzerland), Balluff Inc. (Germany). Pilz GmbH & Co. KG (Germany), Tamagawa Seiki Co., Ltd. (Japan), FAULHABER Group (Germany), Baumer Group (Switzerland), Koyo Electronics Industries Co., Ltd. (Japan), Schneider Electric SE (France), Omron Corporation (Japan), Rockwell Automation, Inc. (US), SICK AG (Germany), Hengstler GmbH (Germany), Kubler Group (Germany), Elap srl (Italy), SIKO GmbH (Germany), Nemicon Corporation (Japan), and Gurley Precision Instruments (Japan).

Encoders Market Report Scope :

Report Metric

Details

Market Size Value in 2022 USD 2.7 Billion
Revenue Forecast in 2027 USD 4.3 Billion
Growth Rate  9.7%

Market Size Available for Years

2018–2027

Base Year

2021

Forecast Period

2022–2027

Units

Value (USD Billion/Million)

 

Segments Covered

  • By Encoder Type,
  • By Signal Type,
  • By Technology, and
  • By Application

Regions Covered

North America, Europe, Asia Pacific and RoW

 

Companies Covered

  • Renishaw plc (UK),
  • HEIDENHAIN (Germany),
  • FRABA B.V. (The Netherlands),
  • Sensata Technologies Holding plc (US),
  • ifm electronics gmbh (Germany),
  • Mitutoyo Corporation (Japan),
  • Pepperl+Fuchs SE (Germany),
  • Fortive (US),
  • maxon motor ag (switzerland),
  • Balluff Inc.

Encoder Market Highlights

This research report categorizes the encoder market by frequency type, type, industry, and region.

Aspect

Details

By Encoder Type:

  • Rotary
  • Linear

By Signal Type:

  • Incremental
  • Absolute

By Technology:

  • Magnetic
  • Optical
  • Inductive
  • Others

By Application:

  • Industrial 
  • Healthcare
  • Consumer Electronics
  • Automotive
  • Power
  • Food & Beverages
  • Aerospace
  • Printing
  • Textiles
  • Others

By Region:

  • North America
  • Europe
  • Asia Pacific (APAC)
  • Rest of the World (RoW

Recent Developments in Encoders Industry

  • In May 2022, Pepperl+Fuchs launched the hollow shaft ENI90 series incremental rotary encoder. These rotary encoders are compact and robust bring maximum precision to any standard or heavy-duty application and withstand with rotational speed of up to 6,000 rpm.
  • In November 2021, Baumer launched new bearingless encoder EB200E which is designed in a way that it can be integrated on any axis without complex adaptation if the mechanics. The encoder is first in class smart incremental encoder with IO-Link which provides speed monitoring function and replaces additional hardware components.
  • In July 2021, Balluff Inc has launched rotary encoders used wherever speed/rotary movements or angular velocity, length and positions need to be recorded. These encoders convert the mechanical movements into digital electrical signals.
  • In June 2021, Balluff Inc. launched the BML SF2 magnetic safety encoder system for applications like in special machine building for cutting and forming machines.

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TABLE OF CONTENTS

1 INTRODUCTION (Page No. - 28)
    1.1 STUDY OBJECTIVES
    1.2 MARKET DEFINITION AND SCOPE
           1.2.1 INCLUSIONS & EXCLUSIONS
    1.3 STUDY SCOPE
           1.3.1 MARKETS COVERED
                    FIGURE 1 ENCODER MARKET SEGMENTATION
           1.3.2 GEOGRAPHIC SCOPE
                    FIGURE 2 ENCODER MARKET: REGIONAL SCOPE
           1.3.3 YEARS CONSIDERED
    1.4 CURRENCY CONSIDERED
    1.5 UNITS CONSIDERED
    1.6 LIMITATIONS
    1.7 STAKEHOLDERS
    1.8 SUMMARY OF CHANGES

2 RESEARCH METHODOLOGY (Page No. - 33)
    2.1 RESEARCH DATA
           FIGURE 3 ENCODER MARKET: RESEARCH DESIGN
    2.2 SECONDARY & PRIMARY RESEARCH
           2.2.1 SECONDARY DATA
                    2.2.1.1 Key data from secondary sources
           2.2.2 PRIMARY DATA
                    2.2.2.1 Primary interviews with experts
                    2.2.2.2 Key data from primary sources
                    2.2.2.3 Key industry insights
                    2.2.2.4 Breakdown of primaries
    2.3 MARKET SIZE ESTIMATION
           FIGURE 4 MARKET SIZE ESTIMATION METHODOLOGY: APPROACH (SUPPLY SIDE): REVENUE OF PRODUCTS/SOLUTIONS/SERVICES IN ENCODER MARKET
           2.3.1 BOTTOM-UP APPROACH
                    2.3.1.1 Approach to arrive at market share by bottom-up analysis (demand side)
                               FIGURE 5 ENCODER MARKET: BOTTOM-UP APPROACH
           2.3.2 TOP-DOWN APPROACH
                    2.3.2.1 Approach to arrive at market share by top-down analysis (supply side)
                               FIGURE 6 ENCODER MARKET: TOP-DOWN APPROACH
    2.4 MARKET BREAKDOWN AND DATA TRIANGULATION
           FIGURE 7 DATA TRIANGULATION
    2.5 RESEARCH ASSUMPTIONS

3 EXECUTIVE SUMMARY (Page No. - 43)
    FIGURE 8 INDUSTRIAL APPLICATIONS TO DOMINATE MARKET DURING FORECAST PERIOD
    FIGURE 9 ROTARY ENCODER SEGMENT TO ACCOUNT FOR LARGER SHARE DURING FORECAST PERIOD
    FIGURE 10 MAGNETIC TECHNOLOGY SEGMENT TO DOMINATE MARKET DURING FORECAST PERIOD
    FIGURE 11 ASIA PACIFIC TO REGISTER HIGHEST CAGR DURING FORECAST PERIOD

4 PREMIUM INSIGHTS (Page No. - 46)
    4.1 ATTRACTIVE GROWTH OPPORTUNITIES FOR PLAYERS IN ENCODER MARKET
           FIGURE 12 INCREASING MANUFACTURING & ENGINEERING HUBS WORLDWIDE TO DRIVE MARKET
    4.2 ENCODER MARKET, BY ENCODER TYPE
           FIGURE 13 ROTARY ENCODER SEGMENT TO REGISTER HIGHER CAGR BETWEEN 2022 AND 2027
    4.3 ENCODER MARKET, BY SIGNAL TYPE
           FIGURE 14 INCREMENTAL ENCODER TO ACCOUNT FOR LARGER SHARE DURING FORECAST PERIOD
    4.4 ENCODER MARKET IN ASIA PACIFIC, BY APPLICATION AND COUNTRY
           FIGURE 15 INDUSTRIAL SEGMENT TO ACCOUNT FOR LARGEST SHARE IN ASIA PACIFIC REGION DURING FORECAST PERIOD
    4.5 ENCODER MARKET, BY COUNTRY
           FIGURE 16 CHINA TO ACCOUNT FOR HIGHEST CAGR DURING FORECAST PERIOD

5 MARKET OVERVIEW (Page No. - 49)
    5.1 INTRODUCTION
    5.2 MARKET DYNAMICS
           FIGURE 17 ENCODER MARKET: DRIVERS, RESTRAINTS, OPPORTUNITIES, AND CHALLENGES
           5.2.1 DRIVERS
                    5.2.1.1 Rising need for high-end automation across industries
                    5.2.1.2 Growing adoption of Industry 4.0
                               FIGURE 18 ANNUAL INSTALLATION OF INDUSTRIAL ROBOTS
                    5.2.1.3 Growing expansion of automotive markets worldwide
                               FIGURE 19 ENCODER MARKET: IMPACT ANALYSIS OF DRIVERS
           5.2.2 RESTRAINTS
                    5.2.2.1 Accuracy-related errors
                    5.2.2.2 Variations in international regulations
                               FIGURE 20 ENCODERS MARKET: IMPACT ANALYSIS OF RESTRAINTS
           5.2.3 OPPORTUNITIES
                    5.2.3.1 Rising government initiatives to boost industrial automation
                               TABLE 1 INVESTMENTS IN INDUSTRIAL AUTOMATION PROVIDED THROUGH GOVERNMENT INITIATIVES
                    5.2.3.2 Increasing demand for machine learning and artificial intelligence-based systems
                    5.2.3.3 Innovative technologies in automotive and UAV industries
                               FIGURE 21 ENCODER MARKET: IMPACT ANALYSIS OF OPPORTUNITIES
           5.2.4 CHALLENGES
                    5.2.4.1 Mechanical failure in harsh environments
           FIGURE 22 ENCODER MARKET: IMPACT ANALYSIS OF CHALLENGES
    5.3 VALUE CHAIN ANALYSIS
           FIGURE 23 ENCODER MARKET: VALUE CHAIN ANALYSIS
    5.4 ECOSYSTEM ANALYSIS
           FIGURE 24 ENCODER MARKET: ECOSYSTEM ANALYSIS
           TABLE 2 ENCODER MARKET ECOSYSTEM
    5.5 PRICING ANALYSIS
           TABLE 3 INDICATIVE PRICES OF ENCODERS
           5.5.1 AVERAGE SELLING PRICE OF ENCODER TYPES OFFERED BY KEY PLAYERS
                    FIGURE 25 AVERAGE SELLING PRICE OF ENCODER TYPES OFFERED BY KEY PLAYERS
                    TABLE 4 AVERAGE SELLING PRICE OF SIGNAL TYPE ENCODERS OFFERED BY KEY PLAYERS (USD)
                    TABLE 5 AVERAGE SELLING PRICE OF ENCODER TYPES OFFERED BY KEY PLAYERS (USD)
    5.6 TRENDS/DISRUPTIONS IMPACTING CUSTOMERS’ BUSINESSES
           FIGURE 26 REVENUE SHIFT AND NEW REVENUE POCKETS FOR PLAYERS IN ENCODERS MARKET
    5.7 TECHNOLOGY ANALYSIS
           5.7.1 IMPACT OF IIOT ON ENCODER INDUSTRIES
           5.7.2 RISE OF COLLABORATIVE & AGV ROBOTS
    5.8 PORTER’S FIVE FORCES ANALYSIS
           TABLE 6 ENCODER MARKET: PORTER’S FIVE FORCES ANALYSIS
    5.9 KEY STAKEHOLDERS AND BUYING CRITERIA
           5.9.1 KEY STAKEHOLDERS IN BUYING PROCESS
                    FIGURE 27 ENCODER MARKET: INFLUENCE OF STAKEHOLDERS ON BUYING PROCESS FOR TOP THREE APPLICATIONS
                    TABLE 7 ENCODER MARKET: INFLUENCE OF STAKEHOLDERS ON BUYING PROCESS FOR TOP THREE APPLICATIONS
           5.9.2 BUYING CRITERIA
                    FIGURE 28 ENCODER MARKET: KEY BUYING CRITERIA FOR TOP THREE APPLICATIONS
                    TABLE 8 KEY BUYING CRITERIA FOR TOP THREE APPLICATIONS
    5.10 CASE STUDIES
           TABLE 9 SAM-JEONG AUTOMATION INCORPORATED RENISHAW’S INCREMENTAL ENCODER TO ACHIEVE ACCURACY
           TABLE 10 PAL ROBOTICS INTEGRATED ENCODERS INTO ROBOTIC TECHNOLOGY
           TABLE 11 SCODIX ULTRA CHOSE RENISHAW’S TONIC INCREMENTAL ENCODER SYSTEM TO ACHIEVE HIGH-QUALITY PRINTING
    5.11 TRADE ANALYSIS
           FIGURE 29 IMPORT DATA, BY COUNTRY, 2017–2021 (USD MILLION)
           FIGURE 30 EXPORT DATA, BY COUNTRY, 2017–2021 (USD MILLION)
    5.12 PATENT ANALYSIS
           FIGURE 31 TOP 10 COMPANIES WITH HIGHEST NUMBER OF PATENT APPLICATIONS IN LAST 10 YEARS
           TABLE 12 TOP 20 PATENT OWNERS IN LAST 10 YEARS (US)
           FIGURE 32 NUMBER OF PATENTS GRANTED PER YEAR FROM 2012 TO 2021
           TABLE 13 ENCODER MARKET: KEY PATENTS, 2020–2021
    5.13 KEY CONFERENCES & EVENTS, 2022–2023
           TABLE 14 ENCODER MARKET: KEY CONFERENCES & EVENTS
    5.14 REGULATORY BODIES, GOVERNMENT AGENCIES, AND OTHER ORGANIZATIONS
           TABLE 15 NORTH AMERICA: REGULATORY BODIES, GOVERNMENT AGENCIES, AND OTHER ORGANIZATIONS
           TABLE 16 EUROPE: REGULATORY BODIES, GOVERNMENT AGENCIES, AND OTHER ORGANIZATIONS
           TABLE 17 ASIA PACIFIC: REGULATORY BODIES, GOVERNMENT AGENCIES, AND OTHER ORGANIZATIONS
           TABLE 18 ROW: REGULATORY BODIES, GOVERNMENT AGENCIES, AND OTHER ORGANIZATIONS
           5.14.1 STANDARDS
                    TABLE 19 STANDARDS FOR ENCODER MARKET

6 ENCODER MARKET, BY ENCODER TYPE (Page No. - 76)
    6.1 INTRODUCTION
           FIGURE 33 ROTARY ENCODER SEGMENT TO ACCOUNT FOR LARGEST SHARE DURING FORECAST PERIOD
           TABLE 20 ENCODER MARKET, BY ENCODER TYPE, 2018–2021 (USD MILLION)
           TABLE 21 ENCODER MARKET, BY ENCODER TYPE, 2022–2027 (USD MILLION)
           TABLE 22 ENCODER MARKET, BY ENCODER TYPE, 2018–2021 (MILLION UNITS)
           TABLE 23 ENCODER MARKET, BY ENCODER TYPE, 2022–2027 (MILLION UNITS)
    6.2 ROTARY ENCODER
           6.2.1 CONVERTS ANGULAR POSITIONING OF A ROTATING SHAFT INTO ANALOG/DIGITAL SIGNALS
                    TABLE 24 ROTARY ENCODER MARKET, BY SIGNAL TYPE, 2018–2021 (USD MILLION)
                    TABLE 25 ROTARY ENCODER MARKET, BY SIGNAL TYPE, 2022–2027 (USD MILLION)
                    TABLE 26 ROTARY ENCODER MARKET, BY TECHNOLOGY, 2018–2021 (USD MILLION)
                    TABLE 27 ROTARY ENCODER MARKET, BY TECHNOLOGY, 2022–2027 (USD MILLION)
                    TABLE 28 ROTARY ENCODER MARKET, BY APPLICATION, 2018–2021 (USD MILLION)
                    TABLE 29 ROTARY ENCODER MARKET, BY APPLICATION, 2022–2027 (USD MILLION)
    6.3 LINEAR ENCODER
           6.3.1 MEASURES POSITION BY SENDING FEEDBACK TO CONTROL SYSTEM
                    TABLE 30 LINEAR ENCODER MARKET, BY SIGNAL TYPE, 2018–2021 (USD MILLION)
                    TABLE 31 LINEAR ENCODER MARKET, BY SIGNAL TYPE, 2022–2027 (USD MILLION)
                    TABLE 32 LINEAR ENCODER MARKET, BY TECHNOLOGY, 2018–2021 (USD MILLION)
                    TABLE 33 LINEAR ENCODER MARKET, BY TECHNOLOGY, 2022–2027 (USD MILLION)
                    TABLE 34 LINEAR ENCODER MARKET, BY APPLICATION, 2018–2021 (USD MILLION)
                    TABLE 35 LINEAR ENCODER MARKET, BY APPLICATION, 2022–2027 (USD MILLION)

7 ENCODER MARKET, BY SIGNAL TYPE (Page No. - 84)
    7.1 INTRODUCTION
           FIGURE 34 INCREMENTAL ENCODER SEGMENT TO ACCOUNT FOR LARGEST SHARE DURING FORECAST PERIOD
           TABLE 36 ENCODER MARKET, BY SIGNAL TYPE, 2018–2021 (USD MILLION)
           TABLE 37 ENCODER MARKET, BY SIGNAL TYPE, 2022–2027 (USD MILLION)
           TABLE 38 ENCODER MARKET, BY SIGNAL TYPE, 2018–2021 (MILLION UNITS)
           TABLE 39 ENCODER MARKET, BY SIGNAL TYPE, 2022–2027 (MILLION UNITS)
    7.2 INCREMENTAL ENCODER
           7.2.1 SIMPLIFIED HARDWARE AND FLEXIBLE FUNCTIONALITY TO DRIVE MARKET
                    TABLE 40 INCREMENTAL ENCODER MARKET, BY ENCODER TYPE, 2018–2021 (USD MILLION)
                    TABLE 41 INCREMENTAL ENCODER MARKET, BY ENCODER TYPE, 2022–2027 (USD MILLION)
    7.3 ABSOLUTE ENCODER
           7.3.1 RELIABLE MEASUREMENT PERFORMANCE TO DRIVE MARKET
                    TABLE 42 ABSOLUTE ENCODER MARKET, BY ENCODER TYPE, 2018–2021 (USD MILLION)
                    TABLE 43 ABSOLUTE ENCODER MARKET, BY ENCODER TYPE, 2022–2027 (USD MILLION)

8 ENCODER MARKET, BY TECHNOLOGY (Page No. - 89)
    8.1 INTRODUCTION
           FIGURE 35 MAGNETIC TECHNOLOGY SEGMENT TO DOMINATE MARKET DURING FORECAST PERIOD
           TABLE 44 ENCODER MARKET, BY TECHNOLOGY, 2018–2021 (USD MILLION)
           TABLE 45 ENCODER MARKET, BY TECHNOLOGY, 2022–2027 (USD MILLION)
           TABLE 46 ENCODER MARKET, BY TECHNOLOGY, 2018–2021 (MILLION UNITS)
           TABLE 47 ENCODER MARKET, BY TECHNOLOGY, 2022–2027 (MILLION UNITS)
    8.2 MAGNETIC ENCODER
           8.2.1 RELIABLE DIGITAL FEEDBACK IN HARSH ENVIRONMENTS TO DRIVE MARKET
                    TABLE 48 MAGNETIC TECHNOLOGY, BY ENCODER TYPE, 2018–2021 (USD MILLION)
                    TABLE 49 MAGNETIC TECHNOLOGY, BY ENCODER TYPE, 2022–2027 (USD MILLION)
    8.3 OPTICAL ENCODER
           8.3.1 ABILITY TO MONITOR AND CONTROL MECHANICAL SYSTEMS TO DRIVE UPTAKE
                    TABLE 50 OPTICAL TECHNOLOGY, BY ENCODER TYPE, 2018–2021 (USD MILLION)
                    TABLE 51 OPTICAL TECHNOLOGY, BY ENCODER TYPE, 2022–2027 (USD MILLION)
    8.4 INDUCTIVE ENCODER
           8.4.1 COMPACT DESIGN WITH HIGH ACCURACY TO DRIVE DEMAND
                    TABLE 52 INDUCTIVE TECHNOLOGY, BY ENCODER TYPE, 2018–2021 (USD MILLION)
                    TABLE 53 INDUCTIVE TECHNOLOGY, BY ENCODER TYPE, 2022–2027 (USD MILLION)
    8.5 OTHER TECHNOLOGIES
           TABLE 54 OTHER TECHNOLOGIES, BY ENCODER TYPE, 2018–2021 (USD MILLION)
           TABLE 55 OTHER TECHNOLOGIES, BY ENCODER TYPE, 2022–2027 (USD MILLION)

9 ENCODER MARKET, BY APPLICATION (Page No. - 96)
    9.1 INTRODUCTION
           FIGURE 36 INDUSTRIAL APPLICATION SEGMENT TO DOMINATE ENCODER MARKET DURING FORECAST PERIOD
           TABLE 56 ENCODER MARKET, BY APPLICATION, 2018–2021 (USD MILLION)
           TABLE 57 ENCODER MARKET, BY APPLICATION, 2022–2027 (USD MILLION)
           TABLE 58 ENCODER MARKET, BY APPLICATION, 2018–2021 (MILLION UNITS)
           TABLE 59 ENCODER MARKET, BY APPLICATION, 2022–2027 (MILLION UNITS)
    9.2 INDUSTRIAL
           9.2.1 INCREASING UTILIZATION OF ENCODERS IN ROBOTICS AND FACTORY AUTOMATION
                    TABLE 60 ENCODER MARKET FOR INDUSTRIAL APPLICATION, BY ENCODER TYPE, 2018–2021 (USD MILLION)
                    TABLE 61 ENCODER MARKET FOR INDUSTRIAL APPLICATION, BY ENCODER TYPE, 2022–2027 (USD MILLION)
                    TABLE 62 ENCODER MARKET FOR INDUSTRIAL APPLICATION, BY REGION, 2018–2021 (USD MILLION)
                    TABLE 63 ENCODER MARKET FOR INDUSTRIAL APPLICATION, BY REGION, 2022–2027 (USD MILLION)
    9.3 HEALTHCARE
           9.3.1 UTILIZATION OF SURGICAL ROBOTS IN HEALTHCARE APPLICATIONS TO DRIVE MARKET
                    TABLE 64 ENCODER MARKET FOR HEALTHCARE APPLICATION, BY ENCODER TYPE, 2018–2021 (USD MILLION)
                    TABLE 65 ENCODER MARKET FOR HEALTHCARE APPLICATION, BY ENCODER TYPE, 2022–2027 (USD MILLION)
                    TABLE 66 ENCODER MARKET FOR HEALTHCARE APPLICATION, BY REGION, 2018–2021 (USD MILLION)
                    TABLE 67 ENCODER MARKET FOR HEALTHCARE APPLICATION, BY REGION, 2022–2027 (USD MILLION)
    9.4 CONSUMER ELECTRONICS
           9.4.1 SURGE OF LINEAR MOTOR ENCODERS IN ELECTRICAL APPLIANCES TO DRIVE MARKET
                    TABLE 68 ENCODER MARKET FOR CONSUMER ELECTRONICS APPLICATION, BY ENCODER TYPE, 2018–2021 (USD MILLION)
                    TABLE 69 ENCODER MARKET FOR CONSUMER ELECTRONICS APPLICATION, BY ENCODER TYPE, 2022–2027 (USD MILLION)
                    TABLE 70 ENCODER MARKET FOR CONSUMER ELECTRONICS APPLICATION, BY REGION, 2018–2021 (USD MILLION)
                    TABLE 71 ENCODER MARKET FOR CONSUMER ELECTRONICS APPLICATION, BY REGION, 2022–2027 (USD MILLION)
    9.5 AUTOMOTIVE
           9.5.1 RISING INTEGRATION OF AUTOMATION IN AUTOMOBILES TO PROPEL GROWTH
                    TABLE 72 ENCODER MARKET FOR AUTOMOTIVE APPLICATION, BY ENCODER TYPE, 2018–2021 (USD MILLION)
                    TABLE 73 ENCODER MARKET FOR AUTOMOTIVE APPLICATION, BY ENCODER TYPE, 2022–2027 (USD MILLION)
                    TABLE 74 ENCODER MARKET FOR AUTOMOTIVE APPLICATION, BY REGION, 2018–2021 (USD MILLION)
                    TABLE 75 ENCODER MARKET FOR AUTOMOTIVE APPLICATION, BY REGION, 2022–2027 (USD MILLION)
    9.6 POWER
           9.6.1 INCREASING COMPLEXITIES IN SOLAR & WIND ENERGY APPLICATIONS TO DRIVE MARKET
                    TABLE 76 ENCODER MARKET FOR POWER APPLICATION, BY ENCODER TYPE, 2018–2021 (USD MILLION)
                    TABLE 77 ENCODER MARKET FOR POWER APPLICATION, BY ENCODER TYPE, 2022–2027 (USD MILLION)
                    TABLE 78 ENCODER MARKET FOR POWER APPLICATION, BY REGION, 2018–2021 (USD MILLION)
                    TABLE 79 ENCODER MARKET FOR POWER APPLICATION, BY REGION, 2022–2027 (USD MILLION)
    9.7 FOOD & BEVERAGE
           9.7.1 INTEGRATION OF IO-LINK TECHNOLOGY INTO ENCODERS TO DRIVE MARKET
                    TABLE 80 ENCODER MARKET FOR FOOD & BEVERAGE APPLICATION, BY ENCODER TYPE, 2018–2021 (USD MILLION)
                    TABLE 81 ENCODER MARKET FOR FOOD & BEVERAGE APPLICATION, BY ENCODER TYPE, 2022–2027 (USD MILLION)
                    TABLE 82 ENCODER MARKET FOR FOOD & BEVERAGE APPLICATION, BY REGION, 2018–2021 (USD MILLION)
                    TABLE 83 ENCODER MARKET FOR FOOD & BEVERAGE APPLICATION, BY REGION, 2022–2027 (USD MILLION)
    9.8 AEROSPACE
           9.8.1 PRECISION CONTROL TECHNOLOGY OF ENCODERS IN AIRBORNE PLANES TO PROPEL GROWTH
                    TABLE 84 ENCODER MARKET FOR AEROSPACE APPLICATION, BY ENCODER TYPE, 2018–2021 (USD MILLION)
                    TABLE 85 ENCODER MARKET FOR AEROSPACE APPLICATION, BY ENCODER TYPE, 2022–2027 (USD MILLION)
                    TABLE 86 ENCODER MARKET FOR AEROSPACE APPLICATION, BY REGION, 2018–2021 (USD MILLION)
                    TABLE 87 ENCODER MARKET FOR AEROSPACE APPLICATION, BY REGION, 2022–2027 (USD MILLION)
    9.9 PRINTING
           9.9.1 USE OF ROTARY ENCODERS IN PRINTING APPLICATIONS AND OFFICE EQUIPMENT TO DRIVE MARKET
                    TABLE 88 ENCODER MARKET FOR PRINTING APPLICATION, BY ENCODER TYPE, 2018–2021 (USD MILLION)
                    TABLE 89 ENCODER MARKET FOR PRINTING APPLICATION, BY ENCODER TYPE, 2022–2027 (USD MILLION)
                    TABLE 90 ENCODER MARKET FOR PRINTING APPLICATION, BY REGION, 2018–2021 (USD MILLION)
                    TABLE 91 ENCODER MARKET FOR PRINTING APPLICATION, BY REGION, 2022–2027 (USD MILLION)
    9.10 TEXTILE
           9.10.1 GROWING UTILIZATION OF ENCODERS IN WEAVING & KNITTING PROCESSES TO DRIVE MARKET
                    TABLE 92 ENCODER MARKET FOR TEXTILE APPLICATION, BY ENCODER TYPE, 2018–2021 (USD MILLION)
                    TABLE 93 ENCODER MARKET FOR TEXTILE APPLICATION, BY ENCODER TYPE, 2022–2027 (USD MILLION)
                    TABLE 94 ENCODER MARKET FOR TEXTILE APPLICATION, BY REGION, 2018–2021 (USD MILLION)
                    TABLE 95 ENCODER MARKET FOR TEXTILE APPLICATION, BY REGION, 2022–2027 (USD MILLION)
    9.11 OTHER APPLICATIONS
           TABLE 96 ENCODER MARKET FOR OTHER APPLICATIONS, BY ENCODER TYPE, 2018–2021 (USD MILLION)
           TABLE 97 ENCODER MARKET FOR OTHER APPLICATIONS, BY ENCODER TYPE, 2022–2027 (USD MILLION)
           TABLE 98 ENCODER MARKET FOR OTHER APPLICATIONS, BY REGION, 2018–2021 (USD MILLION)
           TABLE 99 ENCODER MARKET FOR OTHER APPLICATIONS, BY REGION, 2022–2027 (USD MILLION)

10 ENCODER MARKET, BY REGION (Page No. - 117)
     10.1 INTRODUCTION
             FIGURE 37 GEOGRAPHIC SNAPSHOT: ASIA PACIFIC MARKET TO ACCOUNT FOR HIGHEST CAGR DURING FORECAST PERIOD
             TABLE 100 ENCODER MARKET, BY REGION, 2018–2021 (USD MILLION)
             TABLE 101 ENCODER MARKET, BY REGION, 2022–2027 (USD MILLION)
             TABLE 102 ENCODER MARKET, BY REGION, 2018–2021 (MILLION UNITS)
             TABLE 103 ENCODER MARKET, BY REGION, 2022–2027 (MILLION UNITS)
     10.2 NORTH AMERICA
             FIGURE 38 NORTH AMERICA: ENCODER MARKET SNAPSHOT
             TABLE 104 NORTH AMERICA: ENCODER MARKET, BY COUNTRY, 2018–2021 (USD MILLION)
             TABLE 105 NORTH AMERICA: ENCODER MARKET, BY COUNTRY, 2022–2027 (USD MILLION)
             TABLE 106 NORTH AMERICA: ENCODER MARKET, BY APPLICATION, 2018–2021 (USD MILLION)
             TABLE 107 NORTH AMERICA: ENCODER MARKET, BY APPLICATION, 2022–2027 (USD MILLION)
             10.2.1 US
                        10.2.1.1 Large industrial base for consumer electronics and automotive manufacturing to drive market
             10.2.2 CANADA
                        10.2.2.1 Rising adoption of advanced technologies in aerospace industry to drive market
             10.2.3 MEXICO
                        10.2.3.1 Expanding consumer electronics industry to support market growth
     10.3 EUROPE
             FIGURE 39 EUROPE: ENCODER MARKET SNAPSHOT
             TABLE 108 EUROPE: ENCODER MARKET, BY COUNTRY, 2018–2021 (USD MILLION)
             TABLE 109 EUROPE: ENCODER MARKET, BY COUNTRY, 2022–2027 (USD MILLION)
             TABLE 110 EUROPE: ENCODER MARKET, BY APPLICATION, 2018–2021 (USD MILLION)
             TABLE 111 EUROPE: ENCODER MARKET, BY APPLICATION, 2022–2027 (USD MILLION)
             10.3.1 UK
                        10.3.1.1 Expanding manufacturing sector to drive uptake of encoders
             10.3.2 GERMANY
                        10.3.2.1 Growing use of robotics in automobiles to drive market
             10.3.3 FRANCE
                        10.3.3.1 Growing manufacturing & textile industries to drive demand for encoders
             10.3.4 REST OF EUROPE
     10.4 ASIA PACIFIC
             FIGURE 40 ASIA PACIFIC: ENCODER MARKET SNAPSHOT
             TABLE 112 ASIA PACIFIC: ENCODER MARKET, BY COUNTRY, 2018–2021 (USD MILLION)
             TABLE 113 ASIA PACIFIC: ENCODER MARKET, BY COUNTRY, 2022–2027 (USD MILLION)
             TABLE 114 ASIA PACIFIC: ENCODER MARKET, BY APPLICATION, 2018–2021 (USD MILLION)
             TABLE 115 ASIA PACIFIC: ENCODER MARKET, BY APPLICATION, 2022–2027 (USD MILLION)
             10.4.1 CHINA
                        10.4.1.1 Rising expansion of manufacturing & mining industries to drive market
             10.4.2 JAPAN
                        10.4.2.1 Rising demand for electric & hybrid vehicles in automotive industry to drive market
             10.4.3 SOUTH KOREA
                        10.4.3.1 Increasing technological advancements in consumer electronics to drive demand for encoders
             10.4.4 INDIA
                        10.4.4.1 Rising textile industry to drive market
             10.4.5 REST OF ASIA PACIFIC
     10.5 REST OF THE WORLD
             TABLE 116 REST OF THE WORLD: ENCODER MARKET, BY COUNTRY, 2018–2021 (USD MILLION)
             TABLE 117 REST OF THE WORLD: ENCODER MARKET, BY COUNTRY, 2022–2027 (USD MILLION)
             TABLE 118 REST OF THE WORLD: ENCODER MARKET, BY APPLICATION, 2018–2021 (USD MILLION)
             TABLE 119 REST OF THE WORLD: ENCODER MARKET, BY APPLICATION, 2022–2027 (USD MILLION)
             10.5.1 SOUTH AMERICA
                        10.5.1.1 Growing mining industry to fuel market growth
             10.5.2 MIDDLE EAST
                        10.5.2.1 Surge in automation to drive demand for encoders
             10.5.3 AFRICA
                        10.5.3.1 Rising manufacturing hub for automotive vehicles to drive market

11 COMPETITIVE LANDSCAPE (Page No. - 138)
     11.1 INTRODUCTION
     11.2 COMPANY REVENUE ANALYSIS
             FIGURE 41 ENCODER MARKET: REVENUE ANALYSIS OF TOP THREE PLAYERS, 2017–2021
     11.3 MARKET SHARE ANALYSIS, 2021
             TABLE 120 ENCODER MARKET: MARKET SHARE OF TOP FIVE PLAYERS, 2021
     11.4 COMPETITIVE EVALUATION QUADRANT, 2021
             11.4.1 STARS
             11.4.2 EMERGING LEADERS
             11.4.3 PERVASIVE PLAYERS
             11.4.4 PARTICIPANTS
                        FIGURE 42 ENCODER MARKET: COMPANY EVALUATION QUADRANT FOR KEY PLAYERS, 2021
             11.4.5 ENCODER MARKET: COMPANY FOOTPRINT
                        TABLE 121 COMPANY TYPE FOOTPRINT
                        TABLE 122 COMPANY APPLICATION FOOTPRINT
                        TABLE 123 COMPANY REGION FOOTPRINT
                        TABLE 124 COMPANY FOOTPRINT
     11.5 SMALL AND MEDIUM ENTERPRISES (SMES) EVALUATION MATRIX, 2021
             11.5.1 PROGRESSIVE COMPANIES
             11.5.2 RESPONSIVE COMPANIES
             11.5.3 DYNAMIC COMPANIES
             11.5.4 STARTING BLOCKS
                        FIGURE 43 ENCODER MARKET: SME EVALUATION QUADRANT, 2021
             11.5.5 STARTUPS/SMES EVALUATION MATRIX
                        TABLE 125 ENCODER MARKET: KEY STARTUPS/SMES
                        TABLE 126 ENCODER MARKET: COMPETITIVE BENCHMARKING OF KEY STARTUPS/SMES
     11.6 COMPETITIVE SITUATIONS AND TRENDS
             11.6.1 PRODUCT LAUNCHES & DEVELOPMENTS
                        TABLE 127 ENCODER MARKET: PRODUCT LAUNCHES & DEVELOPMENTS (MAY 2019–MAY 2022)
             11.6.2 DEALS
                        TABLE 128 ENCODER MARKET: DEALS
             11.6.3 OTHER DEVELOPMENTS
                        TABLE 129 ENCODER MARKET: OTHER DEVELOPMENTS (APRIL 2019–JULY 2022)

12 COMPANY PROFILES (Page No. - 158)
     12.1 KEY PLAYERS
(Business Overview, Products Offered, Recent Developments, and MnM View (Key strengths/Right to Win, Strategic Choices Made, and Weaknesses and Competitive Threats))* 
             12.1.1 SENSATA TECHNOLOGIES INC.
                        TABLE 130 SENSATA TECHNOLOGIES INC: COMPANY OVERVIEW
                        FIGURE 44 SENSATA TECHNOLOGIES INC: COMPANY SNAPSHOT
                        TABLE 131 SENSATA TECHNOLOGIES INC: PRODUCTS OFFERED
                        TABLE 132 SENSATA TECHNOLOGIES INC: PRODUCT LAUNCHES
                        TABLE 133 SENSATA TECHNOLOGIES INC: OTHER DEVELOPMENTS
             12.1.2 HEIDENHAIN
                        TABLE 134 HEIDENHAIN: COMPANY OVERVIEW
                        TABLE 135 HEIDENHAIN: PRODUCTS OFFERED
                        TABLE 136 HEIDENHAIN: PRODUCTS LAUNCHES
                        TABLE 137 HEIDENHAIN: OTHER DEVELOPMENTS
             12.1.3 FORTIVE (DYNAPAR CORPORATION)
                        TABLE 138 FORTIVE (DYNAPAR CORPORATION): COMPANY OVERVIEW
                        FIGURE 45 FORTIVE (DYNAPAR CORPORATION): COMPANY SNAPSHOT
                        TABLE 139 FORTIVE (DYNAPAR CORPORATION): PRODUCTS OFFERED
                        TABLE 140 FORTIVE (DYNAPAR CORPORATION): PRODUCT LAUNCHES
             12.1.4 RENISHAW PLC
                        TABLE 141 RENISHAW PLC: COMPANY OVERVIEW
                        FIGURE 46 RENISHAW PLC: COMPANY SNAPSHOT
                        TABLE 142 RENISHAW PLC: PRODUCTS OFFERED
                        TABLE 143 RENISHAW PLC: PRODUCTS LAUNCHES
             12.1.5 MITUTOYO CORPORATION
                        TABLE 144 MITUTOYO CORPORATION: COMPANY OVERVIEW
                        TABLE 145 MITUTOYO CORPORATION: PRODUCTS OFFERED
                        TABLE 146 MITUTOYO CORPORATION: OTHER DEVELOPMENTS
             12.1.6 FRABA B.V. (POSITAL FRABA)
                        TABLE 147 FRABA B.V. (POSITAL FRABA): COMPANY OVERVIEW
                        TABLE 148 FRABA B.V.: PRODUCTS OFFERED
                        TABLE 149 FRABA B.V.: PRODUCT LAUNCHES
                        TABLE 150 FRABA B.V.: DEALS
                        TABLE 151 FRABA B.V.: OTHER DEVELOPMENTS
             12.1.7 IFM ELECTRONIC GMBH
                        TABLE 152 IFM ELECTRONIC GMBH: COMPANY OVERVIEW
                        TABLE 153 IFM ELECTRONIC GMBH: PRODUCTS OFFERED
                        TABLE 154 IFM ELECTRONIC GMBH: OTHER DEVELOPMENTS
             12.1.8 PEPPERL+FUCHS SE
                        TABLE 155 PEPPERL+FUCHS SE: COMPANY OVERVIEW
                        TABLE 156 PEPPERL+FUCHS SE: PRODUCTS OFFERED
                        TABLE 157 PEPPERL+FUCHS SE: PRODUCT LAUNCHES
             12.1.9 MAXON MOTOR AG
                        TABLE 158 MAXON MOTOR AG: BUSINESS OVERVIEW
                        TABLE 159 MAXON MOTOR AG: PRODUCTS OFFERED
                        TABLE 160 MAXON MOTOR AG: PRODUCT LAUNCHES
                        TABLE 161 MAXON MOTOR AG: OTHER DEVELOPMENTS
             12.1.10 BALLUFF INC.
                        TABLE 162 BALLUFF INC: COMPANY OVERVIEW
                        TABLE 163 BALLUFF INC: PRODUCT OFFERED
                        TABLE 164 BALLUFF INC: PRODUCT LAUNCHES
                        TABLE 165 BALLUFF INC: OTHER DEVELOPMENTS
             12.1.11 PILZ GMBH & CO. KG
                        TABLE 166 PILZ GMBH & CO. KG: COMPANY OVERVIEW
                        TABLE 167 PILZ GMBH & CO. KG: PRODUCTS OFFERED
             12.1.12 TAMAGAWA SEIKI CO., LTD.
                        TABLE 168 TAMAGAWA SEIKI CO., LTD.: COMPANY OVERVIEW
                        TABLE 169 TAMAGAWA SEIKI CO., LTD.: PRODUCTS OFFERED
             12.1.13 FAULHABER GROUP
                        TABLE 170 FAULHABER GROUP: COMPANY OVERVIEW
                        TABLE 171 FAULHABER GROUP: PRODUCTS OFFERED
                        TABLE 172 FAULHABER GROUP: PRODUCT LAUNCHES
                        TABLE 173 FAULHABER GROUP: OTHER DEVELOPMENTS
             12.1.14 BAUMER GROUP
                        TABLE 174 BAUMER GROUP: COMPANY OVERVIEW
                        TABLE 175 BAUMER GROUP: PRODUCTS OFFERED
                        TABLE 176 BAUMER GROUP: PRODUCT LAUNCHES
                        TABLE 177 BAUMER GROUP: OTHER DEVELOPMENTS
             12.1.15 KOYO ELECTRONICS INDUSTRIES CO., LTD.
                         TABLE 178 KOYO ELECTRONICS INDUSTRIES CO., LTD: COMPANY OVERVIEW
                        TABLE 179 KOYO ELECTRONICS INDUSTRIES CO., LTD: PRODUCTS OFFERED
                        TABLE 180 KOYO ELECTRONICS INDUSTRIES CO., LTD: PRODUCT LAUNCHES
                        TABLE 181 KOYO ELECTRONICS INDUSTRIES CO., LTD: OTHER DEVELOPMENTS
     12.2 OTHER KEY PLAYERS
             12.2.1 SCHNEIDER ELECTRIC SE
             12.2.2 OMRON CORPORATION
             12.2.3 ROCKWELL AUTOMATION, INC.
             12.2.4 SICK AG
             12.2.5 HENGSTLER GMBH
             12.2.6 KÜBLER GROUP
             12.2.7 ELAP SRL
             12.2.8 SIKO GMBH
             12.2.9 NEMICON CORPORATION
             12.2.10 GURLEY PRECISION INSTRUMENTS
*Details on Business Overview, Products Offered, Recent Developments, and MnM View (Key strengths/Right to Win, Strategic Choices Made, and Weaknesses and Competitive Threats) might not be captured in case of unlisted companies. 

13 ADJACENT & RELATED MARKETS (Page No. - 201)
     13.1 INTRODUCTION
     13.2 LIMITATIONS
     13.3 POSITION SENSOR MARKET, BY APPLICATION
             13.3.1 INTRODUCTION
                        TABLE 182 POSITION SENSOR MARKET, BY APPLICATION, 2016–2019 (USD MILLION)
                        TABLE 183 POSITION SENSOR MARKET, BY APPLICATION, 2020–2025 (USD MILLION)
             13.3.2 MACHINE TOOLS
                        13.3.2.1 Use of position sensors in machine tools enables a higher degree of automation and versatility
                                     TABLE 184 POSITION SENSOR MARKET FOR MACHINE TOOLS, BY TYPE, 2016–2019 (USD MILLION)
                                     TABLE 185 POSITION SENSOR MARKET FOR MACHINE TOOLS, BY TYPE, 2020–2025 (USD MILLION)
             13.3.3 ROBOTICS
                        13.3.3.1 Position sensors provide meaningful information to controllers via electronic signals enabling robots to perform tasks efficiently
                                     TABLE 186 POSITION SENSOR MARKET FOR ROBOTICS, BY TYPE, 2016–2019 (USD MILLION)
                                     TABLE 187 POSITION SENSOR MARKET FOR ROBOTICS, BY TYPE, 2020–2025 (USD MILLION)
             13.3.4 MOTION SYSTEMS
                        13.3.4.1 Position sensors are used in motion systems to measure absolute or incremental displacement
                                     TABLE 188 POSITION SENSOR MARKET FOR MOTION SYSTEMS, BY TYPE, 2016–2019 (USD MILLION)
                                     TABLE 189 POSITION SENSOR MARKET FOR MOTION SYSTEMS, BY TYPE, 2020–2025 (USD MILLION)
             13.3.5 MATERIAL HANDLING
                        13.3.5.1 Material handling applications require position sensors to ensure safe and controlled operations
                                     TABLE 190 POSITION SENSOR MARKET FOR MATERIAL HANDLING, BY TYPE, 2016–2019 (USD MILLION)
                                     TABLE 191 POSITION SENSOR MARKET FOR MATERIAL HANDLING, BY TYPE, 2020–2025 (USD MILLION)
             13.3.6 TEST EQUIPMENT
                        13.3.6.1 Automotive, aerospace, industrial, and medical sectors use position sensors to test equipment and ensure high accuracy & precision
                                     TABLE 192 POSITION SENSOR MARKET FOR TEST EQUIPMENT, BY TYPE, 2016–2019 (USD MILLION)
                                     TABLE 193 POSITION SENSOR MARKET FOR TEST EQUIPMENT, BY TYPE, 2020–2025 (USD MILLION)
             13.3.7 OTHERS
                        TABLE 194 POSITION SENSOR MARKET FOR OTHER APPLICATIONS, BY TYPE, 2016–2019 (USD MILLION)
                        TABLE 195 POSITION SENSOR MARKET FOR OTHER APPLICATIONS, BY TYPE, 2020–2025 (USD MILLION)
             13.3.8 IMPACT OF COVID-19 ON POSITION SENSOR MARKET FOR DIFFERENT APPLICATIONS

14 APPENDIX (Page No. - 209)
     14.1 DISCUSSION GUIDE
     14.2 KNOWLEDGESTORE: MARKETSANDMARKETS’ SUBSCRIPTION PORTAL
     14.3 CUSTOMIZATION OPTIONS
     14.4 RELATED REPORTS
     14.5 AUTHOR DETAILS

The study involved four major activities in estimating the size of the encoder market. Exhaustive secondary research was done to collect information on the market, peer market, and parent market. The next step was to validate these findings, assumptions, and sizing with industry experts across value chains through primary research. The bottom-up and top-down approaches were employed to estimate the overall market size. After that, market breakdown and data triangulation were used to estimate the market size of segments and subsegments.

Secondary Research

In the secondary research process, various sources were referred to for identifying and collecting information important for this study. Secondary sources include corporate filings (such as annual reports, investor presentations, and financial statements, press releases); trade, business, and professional associations; white papers, encoder-related journals, and certified publications; articles by recognized authors; gold and silver standard websites; and directories.

Secondary research was mainly conducted to obtain key information about the market value chain, the industry supply chain, the total pool of key players, market classification and segmentation according to industry trends to the bottom-most level, and key developments from both markets- and technology-oriented perspectives. Data from secondary research was collected and analyzed to arrive at the overall market size, which was further validated by primary research.

Primary Research

Extensive primary research has been conducted after understanding and analyzing the encoder market through secondary research. Several primary telephonic interviews have been conducted with key opinion leaders from the demand- and supply-side vendors across four major regions—North America, Europe, Asia Pacific, and the Rest of the World (RoW). Moreover, questionnaires and emails were also used to collect the data.

Encoder Market Size, and Share

To know about the assumptions considered for the study, download the pdf brochure

Market Size Estimation

In this report, for the complete market engineering process, both top-down and bottom-up approaches were used, along with several data triangulation methods, to estimate, forecast, and validate the size of the market and its segments and subsegments listed in the report. Extensive qualitative and quantitative analyses were carried out to list the key information/insights pertaining to the encoder market.

Major players in the encoder market have been identified through secondary research, and their market shares in the respective regions have been determined through primary and secondary research. The entire research methodology included the study of annual and financial reports of top players and interviews with experts (such as CEOs, VPs, directors, and marketing executives) for key insights (quantitative and qualitative). All percentage shares, splits, and breakdowns have been determined using secondary sources and verified through primary sources. This data was consolidated and enhanced with detailed inputs and analysis from MarketsandMarkets and presented in this report.

Encoder Market : Bottom-Up Approach

  • Identifying entities in the encoder market that influence the entire market, along with related automation players
  • Analyzing major providers of encoders and studying their portfolios, and understanding different types of encoders
  • Analyzing trends pertaining to the use of different types of encoders for different applications
  • Tracking the ongoing and upcoming developments in the market, such as investments made, R&D activities, product launches, collaborations, and partnerships, and forecasting the market based on these developments and other critical parameters
  • Carrying out multiple discussions with key opinion leaders to understand different types of encoders, applications, and recent trends in the market, thereby analyzing the breakup of the scope of work carried out by major companies
  • Arriving at the market estimates by analyzing revenues of companies generated and then combining the same to get the market estimate
  • Segmenting the overall market into various other market segments
  • Verifying and cross-checking the estimates at every level from the discussion with key opinion leaders such as CXOs, directors, and operations managers, and finally with the domain experts in MarketsandMarkets
  • Studying various paid and unpaid sources of information such as annual reports, press releases, white papers, and databases

Encoder Market Size, and Bottom-Up Approach

Encoder Market : Top-Down Approach

  • Focusing on top-line investments and expenditure made in the encoder ecosystem
  • Building and developing information related to the revenue generated by offering key types of encoders
  • Conducting multiple on-field discussions with key opinion leaders from the major companies involved in development of encoders
  • Calculating the market size considering revenues generated by major players through the sale of encoders
  • Further segmenting the market on the basis of R&D activities and key developments in major market areas
  • Further segmenting the market by mapping the use of encoder for different applications
  • Estimating the geographic split using secondary sources based on various factors, such as the number of encoder providers, role of automation companies, and adoption of automation solutions in a specific country and region; role of major players in the market for the development of innovative products; and adoption and penetration rates in a particular country for various applications

Encoder Market Size, and Top-Down Approach

Data Triangulation

After arriving at the overall market size from the estimation process explained above, the overall market has been split into several segments and subsegments. The market breakdown and data triangulation procedures have been employed, wherever applicable, to complete the overall market engineering process and arrive at the exact statistics for all segments and subsegments. The data has been triangulated by studying various factors and trends from both the demand and supply sides. The market has also been validated using both top-down and bottom-up approaches.

Report Objectives

  • To define, describe, and forecast the global encoder market based on encoder type, signal type, technology type, application, and geography.
  • To describe and forecast the market, in terms of value, by region—North America, Europe, Asia Pacific, and Rest of the World
  • To provide detailed information regarding factors (drivers, restraints, opportunities, and challenges) influencing market growth
  • To provide a detailed overview of the process flow of the encoder market
  • To analyze opportunities for stakeholders in the encoder market by identifying the high-growth segments
  • To strategically analyze micromarkets1 with respect to individual growth trends, prospects, and contributions to the overall market
  • To strategically profile the key players and comprehensively analyze their market shares and core competencies2 along with detailing the competitive leadership and analyzing growth strategies, such as product launches and developments, expansions, acquisitions, agreements, mergers, joint ventures, and partnerships, of the leading players.

Available Customizations

Based on the given market data, MarketsandMarkets offers customizations in the reports according to the client’s specific requirements. The available customization options are as follows:

Company Information

  • Detailed analysis and profiling of additional market players (up to 5)
Report Code
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Published ON
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