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Incremental Rotary Encoders Fueling The Growth Of Optical Encoder Market

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Lucy Kart
Incremental Rotary Encoders Fueling The Growth Of Optical Encoder Market

The global Optical Encoder Market is estimated to be valued at US$ 2580.9 Mn or Mn in 2023 and is expected to exhibit a CAGR of 8.7% over the forecast period 2023 to 2030, as highlighted in a new report published by Coherent Market Insights.

Market Overview:

Optical encoders are transducers that are used to measure rotary or linear motion. They are found in motors, drives, pumps, valves, and other industrial equipment where precise movement or position needs to be measured and controlled. Optical encoders provide numerous advantages such as high resolution, high reliability, and durability compared to other encoder technologies.

Market key trends:

One of the key trends in the optical encoder market is the rising demand for incremental rotary encoders. Incremental rotary encoders provide precise angular position or velocity feedback by measuring rotation changes over time in an electromechanical device like a motor. They find widespread usage in factory automation equipment, machinery components, medical devices, and automotive systems among others. The demand for incremental encoders is driven by the need for high-speed and high-precision motion control systems across various industries for tasks involving repetitive or unidirectional motion. Their ability to accurately measure angular movements with high resolutions up to 16,000 counts per revolution is fueling their adoption.

Segment Analysis

The optical encoder market is segmented by type into incremental encoders and absolute encoders. Incremental encoders account for the largest market share as they are relatively inexpensive and support basic position control applications. However, absolute encoders are gaining traction due to benefits like ability to retain positioning information even without power and operate non-contact, thereby dominating the high-precision segment.

Key Takeaways

Global Optical Encoder Market Demand is expected to witness high growth, exhibiting CAGR of 8.7% over the forecast period, due to increasing demand for motion control and automation systems across industries.

Regional analysis

Regionally, Asia Pacific dominated the market in 2022 with a share of over 35%, followed by North America and Europe. Emerging economies in Asia Pacific such as China and India are expected to offer lucrative opportunities owing to the rapid growth of manufacturing sector. North America and Western Europe are also anticipated to register robust growth due to presence of major automobile companies in the regions.

Key players

Key players operating in the optical encoder market are Honeywell International Inc., Renishaw plc, Sensata Technologies, Inc., US Digital, Rockwell Automation, Inc., Allied Motion Technologies Inc., and Grayhill Inc. The market is fragmented in nature with presence of several global and regional players. Market leaders are focusing on new product launches and partnerships with automotive OEMs to strengthen their market position.


Read More- https://www.newsstatix.com/optical-encoder-market-forecast-insights-and-analysis/

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