This has a lot to do with the increasing industrial automation across several industries, such as packaging, aerospace, healthcare, electronics, and automotive, for measuring angular speed, position, and rotation of moving parts in a variety of applications.

Automation in more than a few industries will power the requirement for robotics, which, in line, will increase the requirement for rotary angle sensors. Furthermore, with the progression of high-resolution systems, these devices have varied uses in industrial and commercial sectors.

The absolute category will grow the fastest in the years to come, on account of its use in a wide variety of applications requiring control or monitoring, or both. 

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North America dominates the encoder market with USD 1,515 million. This is because of the increasing manufacturing of auto parts, the increasing car count, the growing demand for consumer electronics, and the expanding R&D activities in advanced technologies. 

Furthermore, a numerous key players are present in the region, thus making it easier for users to obtain these semiconductor components.

It is because of the increasing requirement for high-end automation in numerous industries, the demand for encoders, all over the world will grow at pace in the future.