Topic: encoder market

The global encoder market size attained a value of nearly USD 2.42 billion in 2023. The market is further expected to grow in the forecast period of 2024-2032 at a CAGR of 8% to reach nearly USD 4.83 billion by 2032. Encoders, essential components in various industrial applications, convert motion or position information into a coded format for communication and processing. They are pivotal in industries requiring precision and control, such as automotive, electronics, textiles, printing machine...