Encoder Market Is Projected To Reach $ 2.4 Billion By 2025 | TechSci Research
Global encoder market was valued at around $ 1.6 billion in 2019 and is projected to reach $ 2.4 billion by 2025. Anticipated growth in the market can be attributed to the growing demand for industrialization and automation coupled with the implementation of Industry 4.0. The market is expected to witness robust growth during the forecast period owing to increasing penetration of sophisticated automation equipment in industries such as automotive, electronics, etc. An encoder is a sensor of mechanical motion that interprets information and converts it into a code while possessing the capacity to convert that code back to its source. As an electro-mechanical device, an encoder is able to provide motion control system users with information concerning position, velocity and direction. In addition to this, the ability of encoders to provide real-time data is aiding the industries to bring accuracy in workflow, enhance operational speed and ease process control. Consequently, the hig...