An optical encoder is an extremely useful type of movement-sensing device. It is used in a variety of applications from military surveillance to industrial automation, and it is often the mechanism behind the encryption used in such systems as ATM card readers and credit card machines. These devices are often built right into large LCD displays and can be controlled over a wide range of frequencies. As the encoders change their state from state A to state B, the display will alter accordingly. This means that the display can be completely reprogrammed for any desired display configuration at any time, making this technology highly flexible. The key advantages of using an optical encoder are cost-effectiveness and flexibility. Encoders are constructed from a variety of components, including optical tubes, resistors and contacts, and the laser itself. Each component has its own advantages and disadvantages. For instance, some types of optical tube assemblies have very narrow beamwidth, which makes them less efficient than other types of assemblies.
Market Dynamics
Rising demand for consumer electronics is expected to boost the global optical encoder market growth over the forecast period. Optical encoders detect the optical pulse signals that have passed through the slit and converts them into electrical signals. With growing demand for consumer electronic products such as smartphones, tablets, laptops, and more. Furthermore, the consumer electronics industry witnessed massive growth in both developed and emerging economies such as India, China, which in turn, has increased the demand for optical encoders. According to the India Brand Equity Foundation (IBEF), the Indian appliance and consumer electronics (ACE) market was valued at US$ 10.93 billion in 2019 and is expected to reach US$ 21.18 billion by 2025.
Furthermore, the rapid adoption of Industry 4.0 is expected to propel the global optical encoder market growth over the forecast period.
Key features of the study:
- This report provides in-depth analysis of the optical encoder market, and provides market size (US$ 2010.8 Million) and compound annual growth rate (8.7%) for the forecast period (2021–2028), considering 2020 as the base year
- It elucidates potential revenue opportunities across different segments and explains attractive investment proposition matrices for this market
- This study also provides key insights about market drivers, restraints, opportunities, new product launches or approval, market trends, regional outlook, and competitive strategies adopted by key players
- It profiles key players in the global optical encoder market based on the following parameters – company highlights, products portfolio, key highlights, financial performance, and strategies
- Key companies covered as a part of this study include Honeywell International Inc., Renishaw plc, Sensata Technologies, Inc., US Digital, Rockwell Automation, Inc., Allied Motion Technologies Inc., and Grayhill Inc.
- Insights from this report would allow marketers and the management authorities of the companies to make informed decisions regarding their future product launches, type up-gradation, market expansion, and marketing tactics
- The global optical encoder market report caters to various stakeholders in this industry including investors, suppliers, product manufacturers, distributors, new entrants, and financial analysts
- Stakeholders would have ease in decision-making through various strategy matrices used in analyzing the global optical encoder market
Detailed Segmentation:
- Global Optical Encoder Market, By Configuration
- Shafted
- Hollow Shaft
- Absolute Single Turn
- Multi-turn
- Incremental
- Global Optical Encoder Market, By Output Signal Format
- Global Optical Encoder Market, By Application
- Healthcare Equipment
- Metalworking Equipment
- Consumer Electronics and Semiconductor Manufacturing Equipment
- Communication System
- Test and Measurement Equipment
- Assembly and Robotics Equipment
- Others
- Global Optical Encoder Market, By End User
- Public Sector
- Manufacturing Industry
- IT and Telecommunication Industry
- Others
- Global Optical Encoder Market, By Manufacturing End User
- Space and Aviation Industry
- Consumer Electronics Industry
- Instrumentation, Test and Measurement Equipment Industry
- Automobile Industry
- Rest of Manufacturing Industry
- Global Optical Encoder Market, By Region
- North America
- Latin America
- Western Europe
- Eastern Europe
- Asia Pacific (Excluding Japan)
- Japan
- Middle East and Africa
- Company Profiles
- Panasonic Corporation*
- Company Overview
- Product Portfolio
- Financial Performance
- Key Strategies
- Recent Developments
- Future Plans
- Honeywell International Inc.
- Renishaw plc,
- Sensata Technologies, Inc.
- US Digital
- Rockwell Automation, Inc.
- Allied Motion Technologies Inc.
- Grayhill Inc.
*Browse all the market data tables and figures on “Global Optical Encoder Market - Forecast to 2028”