Encoder ICs Market Share

APAC Market Forecasts

Asia Pacific region in encoder ICs market revenue is expected to cross USD 2.99 Billion by the end of 2036. Rapid industrialization, urbanization, and technological progress are leading to increased adoption across a wide range of sectors in the Asia Pacific region. In addition, with the adoption of Industry 4.0 and the implementation of advanced automation and robotics solutions, the manufacturing sector is evolving. For example, Asia accounted for 73% of all new robots that have been deployed according to the International Federation of Robotics.

The enormous supply and demand from a large population is the most important factor in India's rapidly growing economy. To promote India's economic stability, the demand and supply sides are working in parallel. India's market is full of opportunities, and demand for encoder IC will continue to grow rapidly over the coming years.

The growth of the market can be accounted for in this region on behalf of the high growth in the consumer electronic sector of the China region. Devices such as smartphones, printers, tablets, and more require encoder ICs to function better and efficiently.

The market growth can ascribed to the back increasing demand for encoder IC in the automotive sector and also growth in EV sales in Japan.

North American Market Statistics

Encoder ICs market size for North America region is projected to exceed USD 2.30 Billion by the end of 2036. Encoder ICs are used in consumer electronics in this region such as digital cameras, printers, drones, and gaming consoles where they enhance the device's functionality and performance. The growing demand for encoder ICs in the consumer electronics sector is also driven by the proliferation of smart devices and wearables. By 2025, it is estimated that there will be around 20 interconnected electronic devices in the home of a majority of US households.

The growth can be attributed to its high usage and a growing number of manufacturers in the United States.

This market is expected to grow in Canada due to the increasing integration of encoder IC in the industrial automation domain.