Optical Encoder Market - Rising Application in Healthcare Equipment to Fuel Growth

An optical encoder is an electromechanical device with mechanical input and electrical output. It provides multiple digital signals proportional to angular displacement of the input shaft. Optical encoders are commonly used in motion control systems to control and monitor speed, position, count and direction of components and machinery and equipment where it is installed. Optical encoder operation has no effect on the magnetic field and can be used in both stable, and unstable environments.

Get an exclusive sample of this report @
https://www.futuremarketinsights.com/reports/sample/rep-gb-1721

Optical Encoder Market: Key Drivers

Rising adoption of advanced motion control systems, need for more enhanced automation and increasing demand for high quality assurance in surface mount technology (SMT) placement processes are driving growth of the optical encoders market globally. Advanced motion control systems are increasingly being adopted in various sectors, including construction machinery, offshore equipment, military & aerospace equipment, automotive and alternative energy systems. Also, there is growing demand for improved automated controls for industrial applications to improve performance, reduce costs and improve productivity.

The global optical encoder market was valued at US$ 1.4 Bn with market volume of 7.5 Mn units in 2015, which is expected to expand at a CAGR of 8.7 % (by value) and 19.9% (by volume) during the forecast period (2016–2026). Increasing deployment of advanced absolute encoders by SMT placement equipment manufacturers is expected to be a factor driving growth of the global optical encoders market during the forecast period.

The global optical encoder market is classified on the basis of configuration, output signal format, end user, application and region. On the basis of configuration, the market is segmented into incremental, shafted, hollow shaft, absolute single turn and multi-turn.

Browse Research Report @
https://www.futuremarketinsights.com/reports/optical-encoder-market

On the basis of output signal format, the market is segmented into analog and digital.

On the basis of end user, the market is segmented into IT & telecommunication industry, public sector, manufacturing industry and others. Manufacturing industry is further sub-segmented into automobile industry, space and aviation industry, instrumentation, test & measurement equipment industry, consumer electronics industry and rest of manufacturing industry.

On the basis of application, the market is segmented into healthcare equipment, assembly and robotics equipment, consumer electronics & semiconductor manufacturing equipment and metalworking equipment.

Region-wise Analysis on Global Optical Encoder Market

Among regions, North America market held largest revenue share of the global optical encoder market at US$ 366.5 Mn with market volume of 2.0 Mn units in 2015. Robustly competitive manufacturing sector along with industry leaders and policymakers adopting new and advanced technologies to enhance productivity are factors expected to drive market growth in the region.

Asia Pacific market is anticipated to witness substantial expansion at a CAGR of 8.8% during the forecast period, as increasing demand for fibre optic communication in countries such as India, South Korea, China, Singapore and Malaysia due to increasing adoption of smart devices and smart city incentives is spurring growth of the global optical encoder market during the forecast period.

Optical Encoder Market: Competitive Landscape

Some key players covered in the global optical encoder market report include GrayHill Inc., US Digital, Codechamp SA, Bourns Inc., Rockwell Automation Inc. (Allen-Bradley), Honeywell International Inc., Renishaw PLC, Allied Motion Technologies Inc., Sensata Technologies, Inc. (BEI Sensors) and Dynapar (Danaher Corporation).

About FMI

Future Market Insights is the premier provider of market intelligence and consulting services, serving clients in over 150 countries. FMI is headquartered in London, the global financial capital, and has delivery centres in the U.S. and India.

FMI’s research and consulting services help businesses around the globe navigate the challenges in a rapidly evolving marketplace with confidence and clarity. Our customised and syndicated market research reports deliver actionable insights that drive sustainable growth. We continuously track emerging trends and events in a broad range of end industries to ensure our clients prepare for the evolving needs of their consumers.

Contact FMI

3rd Floor, 207 Regent Street,
London W1B 3HH
United Kingdom

T: + 44 (0) 20 7692 8790
D: +44 (0) 20 3287 4268
Email:sales@futuremarketinsights.com

This release was published on openPR.