Optical Encoder Market Expected to Increase at a CAGR 8.7 % by Value Through 2016 to 2026
Future Market Insights has announced the addition of the “Optical Encoder Market Global Industry Analysis and Opportunity Assessment, 2016 - 2026"report to their offering.
valley cottage, NY -- (SBWire) -- 05/23/2018 --Rising demand for advanced automation systems will continue to positively impact global optical encoder marketrevenues. The global market, valued at US$ 1,357.4 Mn in 2015, is expected to register a y-o-y growth rate of 11.3 % and attain a market value worth US$ 1,464.5 Mn in 2016. Growing demand for high-quality assurance in surface mount technology (SMT) placement processes and increasing acceptance of advanced motion control systems will continue to drive the growth of the market.
The considerable rise in the implementation of advanced absolute encoders by the manufacturers of SMT placement equipment is providing favourable growth opportunities to manufacturers. Prominent industrial applications of optical encoders in elevators, medical diagnostics, robotics, and machine controls are serving as the primary factors leading to the expansion of the global optical encoders market. However, limitations related to complexity and delicate parts, and decreasing prices due to OEM pressures in developed economies are some of the key challenges restraining adoption of optical encoders.
On the basis of the output signal format, the global optical encoder market will witness a significant rise in the volumes of digital output optical encoders as they are expected to replace the existing analog optical encoders. In 2016, the digital output optical encoders segment is projected to reach 1,194.6 Mn in revenues.
Request For Sample @https://www.futuremarketinsights.com/reports/sample/rep-gb-1721
By configuration, the shafted-type optical encoders will continue to gain traction, and further its market share to 33% in 2016. Demand for hollow shaft type optical encoders, as well as absolute single turn and multi-turn encoders is also expected to witness steady growth in 2016 and beyond.The use of optical encoders in healthcare equipment is expected to dominate the application-based segment of the global optical encoders market. The healthcare segment is expected to generate revenues of US$ 243.3 Mn by 2016-end. Application of optical encoders in consumer electronics, robotic and assembly equipment, as well as semiconductor manufacturing equipment is likely to augment the market size of the global optical encoders market.
By end-user, telecommunication and IT sector will continue to account for a significant share of global revenues, whereas space and aviation segment will remain the leading manufacturing end-user of the global optical encoders market.
North America will maintain its position as the most lucrative market for optical encoders, with total revenues expected to reach US$ 401.7 Mn in 2016. Adoption of optical encoders is expected to gain traction in Asia Pacific owing to rising adoption of smart devices and smart city incentives in India, South Korea, and China.
Request For Table Of Content @ https://www.futuremarketinsights.com/askus/rep-gb-1721
Manufacturers will need to enhance production capacity and product quality to cater to the burgeoning demand for optical encoders. Rockwell Automation Inc. (Allen-Bradley), Sensata Technologies, Inc. (BEI Sensors), Renishaw PLC, Dynapar (Danaher Corporation), Allied Motion Technologies Inc., Codechamp SA, US Digital, Bourns Inc., GrayHill Inc., and Honeywell International Inc. are some of the key players driving the growth of the global market.
Media Relations Contact
Abhishek Budholiya
Manager
Future Market Insights
1-347-918-3531
https://www.futuremarketinsights.com/reports/optical-encoder-market
View this press release online at: http://rwire.com/981861