The use of stepper motors for packaging and labeling purposes and that of waterproof steppers in different application areas are gaining popularity in the stepper motor market. In 2017, the market attained a size of $1.9 billion, and it is predicted to progress at a CAGR of 4.6% during the forecast period (2018–2023). Stepper motors are digitally controlled and help in exact positioning in different machines. They help in controlling the rotation angle and speed in equipment that demand various motion axes. On the basis of technology, the stepper motor market is categorized into hybrid, permanent magnet, and variable reluctance. Out of these, in 2017, the hybrid category made a contribution of$351.4 million to the market, and during the forecast period, it is expected to exhibit the fastest growth at a CAGR of 6.6%.