CHICAGO, July 30, 2019 /PRNewswire/ -- According to the new market research report "Encoders Market by Type (Linear and Rotary), Technology (Optical, Magnetic, and Others), End Use (Automotive, Consumer Electronics, Industrial, Food & Beverage, Medical, Printing, and Others), and Geography - Global Forecast to 2024", published by MarketsandMarkets, the Encoders Market is expected to grow from USD 1.6 billion in 2019 to USD 2.4 billion by 2024, at a CAGR of 8.6%. Major factors surging the demand for encoders include the need for high-end automation and industry 4.0.
Download PDF Brochure:
https://www.marketsandmarkets.com/pdfdownloadNew.asp?id=14566162
Industrial to account for largest share of encoders market from 2019 to 2024
The industry is expected to be the key end use segment for encoders. The industrial end use is growing rapidly due to the increasing use of robotics in welding, painting, assembly, and pick and place for printed circuit boards, packaging and labeling, and other applications. Encoders in industrial applications are used for linear measurement, registration mark timing, web tensioning, backstop gauging, conveying, filling, and more. The most common application is providing feedback in motion control of electric motors.
Optical technology to boost demand for encoders during forecast period
Optical technology is expected to hold the largest share of the encoders market during the forecast period. This growth is attributed to the wide-scale application of optical encoders in the textile, paper, wood, metal, rubber, plastics, consumer electronics, and automation sectors. In addition, owing to the need for more accurate data, the demand for optical encoders is increasing. Most applications use optical encoders because of the accuracy provided by them. Optical encoders do not require any separate electronics to provide position or exact location.
APAC to hold largest share of encoder market from 2019 to 2024
APAC is expected to hold the largest share of the overall encoders market in 2019. The market in APAC is also likely to exhibit the highest CAGR during the forecast period. Major factors driving the growth of the encoders market in APAC is the increased demand for encoders in countries such as China, Japan, and India from the manufacturing, consumer electronics, automotive, textile, and other end-use industries.
Browse in-depth TOC on "Encoders Market"
67 - Tables
33 - Figures
132 - Pages
Request Sample pages of the Report:
https://www.marketsandmarkets.com/requestsampleNew.asp?id=14566162
HEIDENHAIN Gmbh (Germany), POSITAL FRABA inc (Germany), Sensata Technologies (US), Dynapar Corporation (US), and Baumer Group (Switzerland) are among the few major players in the encoders market.
Please Explore Relevant Reports:
Position Sensor Market by Type (Linear Sensor and Rotary Sensor), Application (Machine Tools, Robotics, Motion Systems, Material Handling, Test Equipment), Contact Type, Output, End-User Industry, and Geography - Global Forecast to 2024
Optical Sensing Market by Industry (Aerospace & Defense, Utilities, Oil & Gas, Medical, Construction, and Consumer Electronics), Application, Method, and Geography - Global Forecast to 2023
About MarketsandMarkets
MarketsandMarkets provides quantified B2B research on 30,000 high growth niche opportunities/threats which will impact 70% to 80% of worldwide companies' revenues. Currently servicing 7500 customers worldwide including 80% of global Fortune 1000 companies as clients. Almost 75,000 top officers across eight industries worldwide approach MarketsandMarkets for their painpoints around revenues decisions.
Our 850 fulltime analyst and SMEs at MarketsandMarkets are tracking global high growth markets following the "Growth Engagement Model - GEM". The GEM aims at proactive collaboration with the clients to identify new opportunities, identify most important customers, write "Attack, avoid and defend" strategies, identify sources of incremental revenues for both the company and its competitors. MarketsandMarkets now coming up with 1,500 MicroQuadrants (Positioning top players across leaders, emerging companies, innovators, strategic players) annually in high growth emerging segments. MarketsandMarkets is determined to benefit more than 10,000 companies this year for their revenue planning and help them take their innovations/disruptions early to the market by providing them research ahead of the curve.
MarketsandMarkets's flagship competitive intelligence and market research platform, "Knowledge Store" connects over 200,000 markets and entire value chains for deeper understanding of the unmet insights along with market sizing and forecasts of niche markets.
Contact:
Mr. Shelly Singh
MarketsandMarkets INC.
630 Dundee Road
Suite 430
Northbrook, IL 60062
USA: +1-888-600-6441
Email: sales@marketsandmarkets.com
Research Insight: https://www.marketsandmarkets.com/ResearchInsight/encoder-market.asp
Visit Our Web Site: https://www.marketsandmarkets.com
Content Source: https://www.marketsandmarkets.com/PressReleases/encoder.asp
Logo - https://mma.prnewswire.com/media/660509/MarketsandMarkets_Logo.jpg
