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(Wireless-NewsWire.Com, August 29, 2018 ) Industry Outlook and Trend Analysis
The Optical Encoder Market was worth USD 1.23 billion in 2014 and is expected to reach approximately USD 3.19 billion by 2023, while registering itself at a compound annual growth rate (CAGR) of 11.14% during the forecast period. An optical encoder is an electromechanical device with electrical output and mechanical input. It gives various digital signals corresponding to angular displacement of the input shaft. Optical encoders are often used as a part of movement control frameworks to control and screen speed, position, tally and course of segments and equipment and machinery where it is installed. Optical encoder activity has no impact on the attractive field and can be used as a part of both stable and unstable environments.
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Drivers and Restraints
Increasing adoption of cutting edge motion control systems, requirement for more upgraded automation and expanding interest for high quality in surface mount technology (SMT) placement forms are driving development of the optical encoders market. Propelled movement control frameworks are progressively being adopted in different divisions, including offshore equipment, construction machinery, military and aerospace equipment, automotive and alternative energy systems. Additionally, there is developing interest for enhanced automated controls for modern applications to enhance execution, lessen costs and enhance profitability.
Market Segmentation
The Optical Encoder Market is segmented on the basis of Configuration, Output signal format, End User and Application. Based on configuration the market is segmented into Shafted, Absolute Single Turn, Incremental, Hollow Shaft and Multi-turn. Based on Output signal format the market is segmented into Digital and Analog. Based on end user the market is segmented into Manufacturing Industry, IT & Telecommunication Industry and Public Sector. Based on application the market is segmented into Assembly and Robotics Equipment, Metalworking Equipment, Communication System, Healthcare Equipment, Consumer Electronics & Semiconductor Manufacturing Equipment, Test & Measurement Equipment and Others.
Regional Outlook and Trend Analysis
Geographically, North America market held biggest income share of the worldwide optical encoder market at US 366.5 Mn with market volume of 2.0 Mn units in 2015. Vigorously competitive manufacturing sector alongside industry pioneers and policymakers using new and propelled innovations to upgrade profitability are factors anticipated that would drive market development in the locale.
Competitive Insights
The leading players in the market are Rockwell Automation, GrayHill Inc, Allied Motion Technologies, Sensata Technologies India Pvt Ltd, Renishaw, Dynapar, US Digital, Honeywell, Codechamp SA and Bourns Inc. The major players in the market are profiled in detail in view of qualities, for example, company portfolio, business strategies, financial overview, recent developments, and share of the overall industry.
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The Optical Encoder Market is segmented as follows-
By Configuration:
Shafted
Absolute Single Turn
Incremental
Hollow Shaft
Multi-turn
By Output signal format:
Digital
Analog
By End User:
Manufacturing Industry
IT & Telecommunication Industry
Public Sector
By Application:
Assembly and Robotics Equipment
Metalworking Equipment
Communication System
Healthcare Equipment
Consumer Electronics & Semiconductor Manufacturing Equipment
Test & Measurement Equipment
Others
By Region
North America
U.S.
Canada
Mexico
Europe
Germany
UK
France
Russia
Italy
Rest of Europe
Asia-Pacific
China
Japan
South Korea
India
Southeast Asia
Rest of Asia-Pacific
South America
Brazil
Argentina
Columbia
South Africa
Rest of South America
Middle East and Africa
Saudi Arabia
UAE
Egypt
Nigeria
South Africa
Rest of MEA
Some of the key questions answered by the report are:
What was the market size in 2014 and forecast from 2015 to 2023?
What will be the industry market growth from 2015 to 2023?
What are the major drivers, restraints, opportunities, challenges, and industry trends and their impact on the market forecast?
What are the major segments leading the market growth and why?
Which are the leading players in the market and what are the major strategies adopted by them to sustain the market competition?
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Qurate Business Intelligence
Nehal Chinoy
+919881074592
nehal@qurateresearch.com
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