Global Encoder Market Size & Outlook, 2023-2030
The global encoder market size was estimated at USD 3,010.5 million in 2023 and is projected to reach USD 6,504.0 million by 2030, growing at a CAGR of 11.6% from 2024 to 2030.
Revenue, 2023 (US$M)
$3,010.5
Forecast, 2030 (US$M)
$6,504.0
CAGR, 2024 - 2030
11.6%
Report Coverage
Worldwide
Global encoder market, 2018-2030 (US$M)
Global encoder market highlights
- The global encoder market generated a revenue of USD 3,010.5 million in 2023 and is expected to reach USD 6,504.0 million by 2030.
- The market is expected to grow at a CAGR (2024 - 2030) of 11.6% by 2030.
- In terms of segment, rotary encoder accounted for a revenue of USD 3,010.5 million in 2023.
- Rotary Encoder is the most lucrative type segment registering the fastest growth during the forecast period.
- In terms of region, North America was the largest revenue generating market in 2023.
Global data book summary
| Market revenue in 2023 | USD 3,010.5 million |
| Market revenue in 2030 | USD 6,504.0 million |
| Growth rate | 11.6% (CAGR from 2023 to 2030) |
| Largest segment | Rotary encoder |
| Fastest growing segment | Rotary Encoder |
| Historical data covered | 2018 - 2022 |
| Base year for estimation | 2023 |
| Forecast period covered | 2024 - 2030 |
| Quantitative units | Revenue in USD million |
| Market segmentation | Rotary Encoder |
Other key industry trends
- In terms of revenue, the North America accounted for 39.5% of the global encoder market in 2023.
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Encoder Market Companies
| Name | Profile | # Employees | HQ | Website |
|---|---|---|---|---|
| Renishaw | View profile | 5001-10000 | Gloucester, Gloucestershire, United Kingdom, Europe | http://www.renishaw.com |
| Pilz | View profile | 1001-5000 | Safenwil, Aargau, Switzerland, Europe | http://www.pilz.com |
| Mitutoyo Corporation | View profile | - | Kawasaki, Kanagawa, Japan, Asia | https://www.mitutoyo.co.jp/eng/ |
| Heidenhain | View profile | 5001-10000 | Traunreut, Bayern, Germany, Europe | https://www.heidenhain.com |
| Balluff | View profile | 1001-5000 | Florence, Kentucky, United States, North America | http://www.balluff.com |
| ifm ecomatic | View profile | 1001-5000 | Essen, Nordrhein-Westfalen, Germany, Europe | https://www.ifm-electronic.com |
| Sensata Technologies Holding PLC | View profile | 19400 | 529 Pleasant Street, Attleboro, MA, United States, 02703 | https://www.sensata.com |
| Pepperl+Fuchs | View profile | 5001-10000 | Mannheim, Baden-Wurttemberg, Germany, Europe | http://www.pepperl-fuchs.com |
| Fortive Corp | View profile | 18000 | 6920 Seaway Boulevard, Everett, WA, United States, 98203 | https://www.fortive.com |
Global encoder market size, by regions, 2018-2030 (US$M)
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