Industrial Encoder Market Size to Grow by $ 908.30 mn During 2021-2025
Technavio has been monitoring the industrial encoder market and it is expected to grow by $ 908.30 mn, accelerating at a CAGR of almost 9% during the forecast period. The growth trajectory of the market is traced through a detailed analysis of the prevalent market forces, trends, and drivers along with competitive benchmarking View Free Sample Report
Industrial Encoder Market: APAC to lead market growth during the forecast period
Industrial Encoder Market: Key Competitors
The market is fragmented. The growth of the players depends on several factors such as market conditions, government support, and industry development. To survive and succeed in such an intensely competitive market, players must distinguish their product and service offerings through clear and unique value propositions. Baumer Holding AG, Dynapar Corp., Hengstler GmbH, ifm electronic GmbH, OMRON Corp., Pepperl+Fuchs AG, Pilz GmbH & Co. KG, Renishaw Plc, Rockwell Automation Inc., and SENSATA TECHNOLOGIES HOLDING PLC are some of the major market participants. To make the most of the opportunities, market vendors should focus more on the growth prospects in the fast-growing segments, while maintaining their position in the slow-growing segments.
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Industrial Encoder Market: Key Highlights of the Report for 2021-2025
The Global Industrial Encoder Market is expected to grow by USD 908.30 million accelerating at a CAGR of over 9% during the forecast period. Technavio’s research report traces the growth trajectory of the market and provides a detailed analysis of the prevalent market forces, trends, and drivers which are likely to impact the market in focus. View free sample report
Industrial Encoder Market: Segmentation by End-user
The automotive industry led the market in terms of market share of the industrial encoder market. The automotive industries require equipment that is used for lifting several parts of the automobiles and assemble them to form the final unit. All these processes require heavy use of industrial encoders to perform the processes precisely. However, over the forecast period, the industrial encoder market share growth by the automotive segment will be slower than the electronics segment which is expected to gain traction.
Industrial Encoder Market: Geographical Segmentation
APAC emerged as the dominating segment in 2020. 42% of the market growth is expected to originate from APAC during the forecast period. China, Japan, and South Korea (Republic of Korea) are the key markets for industrial encoders in APAC. Market growth in APAC will be faster than the growth of the market in other regions. The adoption of IoT across industries will facilitate the industrial encoder market growth in APAC over the forecast period.
Industrial Encoder Market: Vendor Analysis
The market is fragmented. The growth of the players depends on several factors such as market conditions, government support, and industry development. To survive and succeed in such an intensely competitive market, players must distinguish their product and service offerings through clear and unique value propositions. Baumer Holding AG, Dynapar Corp., Hengstler GmbH, ifm electronic GmbH, OMRON Corp., Pepperl+Fuchs AG, Pilz GmbH & Co. KG, Renishaw Plc, Rockwell Automation Inc., and SENSATA TECHNOLOGIES HOLDING PLC are some of the major market participants. To make the most of the opportunities, market vendors should focus more on the growth prospects in the fast-growing segments, while maintaining their position in the slow-growing segments.
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