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Global Optical Encoders Market Report 2021: Market to Reach $3.1 Billion by 2026 - Sustained Emphasis on Industrial Automation to Drive Demand

·5-min read

Dublin, Nov. 11, 2021 (GLOBE NEWSWIRE) -- The "Optical Encoders - Global Market Trajectory & Analytics" report has been added to ResearchAndMarkets.com's offering.

The global market for Optical Encoders estimated at US$1.9 Billion in the year 2020, is projected to reach a revised size of US$3.1 Billion by 2026, growing at a CAGR of 8.5% over the analysis period.

Absolute Encoder, one of the segments analyzed in the report, is projected to grow at a 9% CAGR to reach US$2.3 Billion by the end of the analysis period. After an early analysis of the business implications of the pandemic and its induced economic crisis, growth in the Incremental Encoder segment is readjusted to a revised 7.4% CAGR for the next 7-year period. This segment currently accounts for a 33.1% share of the global Optical Encoders market.

Absolute optical encoder segment dominates market share due to increasing adoption of these devices in diverse applications requiring high resolution, accuracy and system reliability.

In the recent years, absolute encoders have gained increasing traction in applications related to advanced mechanical systems like industrial automation, robotics automation, computer input devices, rotating radar platforms, controlled stress rheometers and photographic lenses. Incremental encoders are intended to determine the position angle on the basis of incremental calculations, with each position depicting a unique value. These devices are used in various commercial applications and electric consumer items.

Demand for optical encoders is being propelled by expansion of the printed circuit board market, the miniaturization trend and increasing sales of consumer electronics items. Increasing adoption of sophisticated motion control systems coupled with the need for superior assertion in placement related to surface mount technology also boosts demand in the market.

Optical encoders are benefitting from increasing adoption of control systems and automation equipment due to their ability to deliver real-time data, high productivity and high accuracy. Latest IoT-powered optical encoders launched on the market present effective diagnostic systems capable of delivering diagnostic and condition monitoring information.

The U.S. Market is Estimated at $527.6 Million in 2021, While China is Forecast to Reach $639.2 Million by 2026

The Optical Encoders market in the U.S. is estimated at US$527.6 Million in the year 2021. The country currently accounts for a 26.22% share in the global market. China, the world's second largest economy, is forecast to reach an estimated market size of US$639.2 Million in the year 2026 trailing a CAGR of 10.6% through the analysis period.

Among the other noteworthy geographic markets are Japan and Canada, each forecast to grow at 7.2% and 8.3% respectively over the analysis period. Within Europe, Germany is forecast to grow at approximately 7.4% CAGR while Rest of European market (as defined in the study) will reach US$704.5 Million by the end of the analysis period.

Asia-Pacific represents a key market, owing to rapid industrialization in developing economies and increasing adoption of sophisticated equipment to save on manufacturing costs.

The region is a major hub of electronic component manufacturing and witnessing high demand for optical encoder from manufacturers for specific benefits like enhanced efficiency. The presence of numerous healthcare and manufacturing facilities in the US drives growth in North America region.

Key Topics Covered:

I. METHODOLOGY

II. EXECUTIVE SUMMARY

1. MARKET OVERVIEW

  • Impact of COVID-19 Pandemic and Looming Global Recession: 2020 Marked as a Year of Disruption & Transformation

  • Industrial Activity Remains Subdued, Inducing Weakness into the Market

  • COVID-19 Presents Breathers for Optical Encoders Market, despite Production Glitches

  • An Introduction to Optical Encoders: Using Light to Determine Accurate Position & Motion of Motors

  • Classification of Encoders

  • Operating Principle

  • Absolute Encoders: Scoring High over Incremental Counterparts

  • Global Market Prospects & Outlook

  • Major Growth Factors and Restraints

  • Analysis by Product Type: Absolute Optical Encoder Claims Sizeable Share

  • Analysis by End-Use Sector: Consumer Electronic Segment Dominates, while Healthcare to Create New Opportunities

  • Regional Analysis: Asia-Pacific to Post Fastest Growth & Steal Limelight in Global Optical Encoder Market

  • Competitive Scenario

  • Recent Market Activity

  • Select Global Brands

2. FOCUS ON SELECT PLAYERS (Total 70 Featured)

  • Allied Motion Technologies Inc.

  • Bourns Inc.

  • Broadcom Ltd.

  • Codechamp SA.

  • Dynapar Corporation

  • GrayHill Inc.

  • Honeywell International, Inc.

  • Panasonic Corporation

  • Renishaw PLC

  • Rockwell Automation Inc.

  • Sensata Technologies, Inc.

  • Siemens

  • TE Connectivity

  • Tokyo Sokuteikizai Co., Ltd.

  • US Digital

3. MARKET TRENDS & DRIVERS

  • Machine Health Monitoring Made Easier with Optical Encoders

  • Sustained Emphasis on Industrial Automation to Drive Demand

  • Factory, Advanced Analytics, Service Robotics, and Smart Machines for 2020

  • Growing Uptake of Industrial Robotics Bodes Well

  • Rising Footprint of Robotics in Automotive Sector to Underpin Revenue Growth

  • Machine Tools: An Established Market for Optical Encoders

  • Rising Demand for SMT Equipment Promotes Growth

  • SMT: Key Applications in Select End-Use Sectors

  • Prevailing Trends in the SMT Equipment Domain Influence Market Prospects

  • Consumer Electronics & Semiconductors: Key End-Use Segment

  • Encoders Essential for Accurate Positioning in Medical Equipment

  • Market to Gain from Growing Importance of IoT

  • Encoders with Advanced Signal Processing Algorithms & Miniature Designs Seek to Widen the Footprint

4. GLOBAL MARKET PERSPECTIVE

III. REGIONAL MARKET ANALYSIS

IV. COMPETITION

For more information about this report visit https://www.researchandmarkets.com/r/4jbj4f

CONTACT: CONTACT: ResearchAndMarkets.com Laura Wood, Senior Press Manager press@researchandmarkets.com For E.S.T Office Hours Call 1-917-300-0470 For U.S./CAN Toll Free Call 1-800-526-8630 For GMT Office Hours Call +353-1-416-8900


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