Non-Contact Rotary Encoder Market was valued at USD 1.2 Billion in 2022 and is projected to reach USD 2.1 Billion by 2030, growing at a CAGR of 8.2% from 2024 to 2030.
The Non-Contact Rotary Encoder market, spanning from 2018 to 2022, saw significant growth due to the increasing demand for accurate position sensing in various industries like automotive, industrial automation, robotics, and consumer electronics. Non-contact rotary encoders are preferred in these sectors due to their high durability, reduced wear and tear, and ability to deliver reliable measurements without mechanical contact. During this period, the demand was predominantly driven by the rising need for automation, advanced manufacturing processes, and stringent quality control in industrial applications. As technology advanced, industries began focusing more on precision and efficiency, which led to an increased adoption of non-contact rotary encoders. The global market growth during these years was also helped by the demand for smaller, more compact, and energy-efficient solutions in high-precision applications.
During the 2018-2022 period, the market experienced a steady rise in demand, especially from the manufacturing and automotive sectors, where automation solutions became a major focus. The automotive industry, with its increasing focus on electric vehicles and automation, drove the need for advanced sensing solutions like non-contact rotary encoders. Additionally, the demand for robotic solutions in industries like healthcare and logistics also saw a surge, further expanding the market for these encoders. The overall market growth was also propelled by the continuous need for enhanced operational efficiency and predictive maintenance across various industries. By 2022, key players in the market had introduced innovations that improved the performance, efficiency, and longevity of these encoders, making them an essential part of many industrial systems.
Looking towards 2023 and beyond, the Non-Contact Rotary Encoder market is poised for even more substantial growth. The push toward Industry 4.0 and smart factories is expected to be one of the primary drivers for the increased adoption of non-contact rotary encoders. The next decade will see industries demanding even more sophisticated solutions for automation, digitalization, and high-precision applications. As robotics and artificial intelligence continue to evolve, non-contact rotary encoders will be key components in ensuring the accuracy and reliability of these advanced systems. Moreover, the push for sustainability and the growing importance of energy-efficient solutions will contribute to the steady rise of this market. With increased investments in R&D, more innovative encoders are expected to enter the market, offering enhanced features such as wireless communication, higher resolutions, and lower power consumption.
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Eltra
VELMEX
Kählig Antriebstechnik GmbH
LASER-VIEW TECHNOLOGIES
INC.
MEGATRON Elektronik GmbH & Co. KG
US Digital
Lika Electronic
TSM SENSORS SRL
RENISHAW
Grayhill
Dynapar
GURLEY Precision Instruments
ASM
Badger Meter
DIS Sensors
Electro-Sensors
NOVOTECHNIK
POSITAL FRABA
Sensata Technologies
YSI
By the year 2030, the scale for growth in the market research industry is reported to be above 120 billion which further indicates its projected compound annual growth rate (CAGR), of more than 5.8% from 2023 to 2030. There have also been disruptions in the industry due to advancements in machine learning, artificial intelligence and data analytics There is predictive analysis and real time information about consumers which such technologies provide to the companies enabling them to make better and precise decisions. The Asia-Pacific region is expected to be a key driver of growth, accounting for more than 35% of total revenue growth. In addition, new innovative techniques such as mobile surveys, social listening, and online panels, which emphasize speed, precision, and customization, are also transforming this particular sector.
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Growing demand for below applications around the world has had a direct impact on the growth of the Global Non-Contact Rotary Encoder Market
Industrial
Robot
Ocean
Other
Based on Types the Market is categorized into Below types that held the largest Non-Contact Rotary Encoder market share In 2023.
Optical Non-Contact Rotary Encoder
Magnetic Non-Contact Rotary Encoder
Global (United States, Global and Mexico)
Europe (Germany, UK, France, Italy, Russia, Turkey, etc.)
Asia-Pacific (China, Japan, Korea, India, Australia, Indonesia, Thailand, Philippines, Malaysia and Vietnam)
South America (Brazil, Argentina, Columbia, etc.)
Middle East and Africa (Saudi Arabia, UAE, Egypt, Nigeria and South Africa)
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1. Introduction of the Global Non-Contact Rotary Encoder Market
Overview of the Market
Scope of Report
Assumptions
2. Executive Summary
3. Research Methodology of Verified Market Reports
Data Mining
Validation
Primary Interviews
List of Data Sources
4. Global Non-Contact Rotary Encoder Market Outlook
Overview
Market Dynamics
Drivers
Restraints
Opportunities
Porters Five Force Model
Value Chain Analysis
5. Global Non-Contact Rotary Encoder Market, By Type
6. Global Non-Contact Rotary Encoder Market, By Application
7. Global Non-Contact Rotary Encoder Market, By Geography
Global
Europe
Asia Pacific
Rest of the World
8. Global Non-Contact Rotary Encoder Market Competitive Landscape
Overview
Company Market Ranking
Key Development Strategies
9. Company Profiles
10. Appendix
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