The Global Encoder Market was $1.50 Bn in 2020, and it is expected to reach $3.60 Bn by 2030. It is eventually growing at a commendable high compound annual growth rate CAGR of 9.1% between 2020-2030., as per the latest research report titled Global Encoder Market – Global Industry, Analysis, Size, Share, Growth, Trends and Forecast, 2020 – 2030.
the encoder are actually used as a digital signal that will help to translate the rotary or the linear movements. Almost all the electronic devices that communicates does use the encoders that helps to generate the high demand all over the world. This is mainly done either to track or to control the motion parameters like direction, distance, rate, position. The encoder help the industry in finding the exact location of any object. The angle of placements for a particular piece of equipment to get the desired results. These also helps in providing workflow with accuracy, speed in operation and the proper control of the process. However due to the COVID-19 pandemic there has been a sudden switch to remote working and has created an increase in the demand of the consumer electronics. This is turn has helped the market to grow.
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Geographically the Global Encoder Market is divided into global regions like North America, Europe, Asia Pacific, Middle East and Africa.
The primary key players in the Global Encoder Market include Honeywell International Inc., Rockwell Automation, Inc., Heidenhain Corporation, Renishaw PLC, Scheneider Electric, TE Connectivity, Baumer Electric AG, OMRON Corporation, Panasonic Corporation, Mitutoyo Corporation, among others.
The Global Encoder Market Has Been Segmented Into:
- Linear Encoders
- Rotary Encoders
By Technology Type
By End Use
- Consumers electronics
- Food & beverages
- North America (U.S. and Rest of North America)
- Europe (U.K., Germany, France, and Rest of Europe)
- Asia Pacific (Japan, China, India, and Rest of Asia Pacific)
- Rest of World (Middle East & Africa (MEA), Latin America)
Browse the full report at https://www.sheeranalyticsandinsights.com/market-report-research/encoder-market-21