Encoder Market Projected to Reach $5.1 Billion By 2031: Allied Market Research

Portland, OR, Oct. 18, 2022 (GLOBE NEWSWIRE) -- According to the report published by Allied Market Research, the global encoder market generated $2.3 billion in 2021, and is projected to reach $5.1 billion by 2031, growing at a CAGR of 8.4% from 2022 to 2031.The report offers a detailed analysis of the top winning strategies, evolving market trends, market size and estimations, value chain, key investment pockets, drivers & opportunities, competitive landscape and regional landscape. The report is a useful source of information for new entrants, shareholders, frontrunners and shareholders in introducing necessary strategies for the future and taking essential steps to significantly strengthen and heighten their position in the market.

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Report Coverage and Details:

COVID-19 Scenario:

• The outbreak of the COVID-19 has had a negative impact on the growth of the global encoder market, owing to the occurrence of lockdowns in various countries across the globe.
• Lockdowns resulted in the closure of various manufacturing facilities, including those of encoders and other electronic items, which adversely impacted the growth of the market.
• In addition, there was a shortage of workforce and essential raw materials due to strict ban on import and export of items as imposed by the governments of many countries around the globe. Key players operating in the encoder industry temporarily witnessed a slowdown, owing to lack of availability of skilled professional to develop encoder market solutions, which has led to decline in revenues for the financial year 2020 to 2021.
• These factors further aggravated the impact on the market. The strict restrictions from the government were mainly imposed to significantly curb the spread of the virus during the pandemic.
• However, the market is expected to recoup with reduced restrictions, growing reliance on AI, and rigorous technological advancements.

The report offers detailed segmentation of the global encoder market based on type, technology, industry vertical, and region. The report provides a comprehensive analysis of every segment and their respective sub-segment with the help of graphical and tabular representation. This analysis can essentially help market players, investors, and new entrants in determining and devising strategies based on fastest growing segments and highest revenue generation that is mentioned in the report.

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Based on type, the rotary segment held the largest market share in 2021, holding more than three-fifths of the global encoder market share, and is expected to maintain its leadership status during the forecast period. In addition, the same segment is expected to cite the fastest CAGR of 8.64% during the forecast period. The report also analyses other segments such as linear.

Based on technology, the optical segment held the dominating market share in 2021, holding more than two-fifths of the global encoder market share. The magnetic segment, on the other hand, is expected to maintain its leadership status during the forecast period. In addition, the same segment is expected to cite the fastest CAGR of 10.85%.

Based on industry vertical, the industrial segment held the largest market share in 2021, holding more than two-fifths of the global encoder market share, and is expected to maintain its leadership status during the forecast period. In addition, the same segment is expected to cite the fastest CAGR of 9.71% during the forecast period. The report also analyses other segments such as Healthcare, Printing Machinery, Textile, and others.

Based on region, the market across Asia-Pacific region held the dominating the global encoder market share in 2021, holding more than two-fifths of the global market share, and is expected to maintain its leadership status during the forecast period. In addition, the same region is expected to cite the fastest CAGR of 9.16% during the forecast period. The report also analyses other regions such as North America, Europe, and LAMEA.

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The key players analysed in the global encoder market report include Alps Alpine Co., Ltd., Bourns, Inc., Broadcom Inc., CUI Devices, Dynapar, ELCO Holding, Fenace Auto Ltd., FRABA B.V., Grayhill Inc., HEIDENHAIN, Omron Corporation, Panasonic Corporation, Rockwell Automation, Inc., Schneider Electric, Sensata Technologies, Inc., TE Connectivity, and TT Electronics Plc.

The report analyzes these key players in the global encoder market. These market players have made effective use of strategies such as joint ventures, collaborations, expansion, new product launches, partnerships, and others to maximize their foothold and prowess in the industry. The report is helpful in analyzing recent developments, product portfolio, business performance and operating segments by prominent players in the market. 

Key Benefits For Stakeholders:

• This report provides a quantitative analysis of the market segments, current trends, estimations, and dynamics of the encoder market analysis from 2021 to 2031 to identify the prevailing encoder market opportunities.
• The market research is offered along with information related to key drivers, restraints, and opportunities.
• Porter's five forces analysis highlights the potency of buyers and suppliers to enable stakeholders make profit-oriented business decisions and strengthen their supplier-buyer network.
• In-depth analysis of the encoder market segmentation assists to determine the prevailing market opportunities.
• Major countries in each region are mapped according to their revenue contribution to the global market.
• Market player positioning facilitates benchmarking and provides a clear understanding of the present position of the market players.
• The report includes the analysis of the regional as well as global encoder market trends, key players, market segments, application areas, encoder market forecast and market growth strategies.

Encoder Market Key Segments:
By Type:

• Rotary
• Linear

By Technology:

• Optical
• Photoelectric
• Magnetic
• Others

By Industry Vertical:

• Industrial
  • Type
    • Manufacturing
    • Automotive
    • Aerospace
    • Others
• Healthcare
• Printing Machinery
• Textile
• Others

By Region:

• North America  (U.S., Canada, and Mexico)
• Europe  (U.K., Germany, France, Italy, Spain, Russia, Netherlands, Belgium, Poland, and Rest of Europe)
• Asia-Pacific  (China, Japan, India, South Korea, Australia, Malaysia, Thailand, Philippines, Indonesia, and Rest of Asia-Pacific)
• LAMEA  (Latin America, Middle East and Africa)

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Allied Market Research (AMR) is a full-service market research and business-consulting wing of Allied Analytics LLP based in Portland, Oregon. Allied Market Research provides global enterprises as well as medium and small businesses with unmatched quality of "Market Research Reports" and "Business Intelligence Solutions." AMR has a targeted view to provide business insights and consulting to assist its clients to make strategic business decisions and achieve sustainable growth in their respective market domain.
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