The #encoder market is projected to grow from USD 2.7 billion in 2023 and is projected to reach USD 4.5 billion by 2028; it is expected to grow at a CAGR of 11.0% from 2023 to 2028. Download PDF Brochure @ https://www.marketsandmarkets.com/pdfdownloadNew.asp?id=14566162 The increasing adoption of encoders in energy harvesting applications and the growing expansion of automotive markets worldwide are among the key factors driving the encoder market. Furthermore, innovative technologies in the automotive and UAV industries are expected to create lucrative opportunities for the market. Leading players in the encoders market include Sensata Technologies (US), HEIDENHAIN (Germany), Fortive (Dynapar) (US), Renishaw plc (UK), Mitutoyo Corporation (Japan), FRABA B.V. (Netherlands), ifm electronic (Germany), Pepperl+Fuchs (Germany), and Maxon (Switzerland). Pilz GmbH (Germany), Tamagawa Seiki Co., Ltd (Japan), Faulhaber Group (Germany), Baumer (Switzerland), Koyo Electronics Industries Co., Ltd (Japan), Schneider Electric (France), Omron Corporation (Japan), Rockwell Automation (Wisconsin) are few other key companies operating in the encoder market. https://www.prnewswire.com/news-releases/encoder-market-worth-4-5-billion-by-2028---exclusive-report-by-marketsandmarkets-301882845.html