Optical Encoder Market Research Report - Global Forecast till 2024

Global Optical Encoder Market Research Report: by Type (Incremental, Absolute), Channel (1 Channel, 2 Channels, 4 Channels and more than 8 Channels), End User (Automotive, Electronics, Medical Devices, Textile & Printing Machinery, Aviation and Others) - Forecast till 2024

ID: MRFR/SEM/6460-HCR | February 2021 | Region: Global | 111 pages

Market Synopsis


The global optical encoder market is expected to grow from USD 1.18 billion in 2018 to USD 2.55 billion by 2024, at a CAGR of 15.55%, during the forecast period.


Optical Encoder uses pulses of light to represent data. These light waves are then analyzed to reveal such variables as position, direction, or velocity. In rotary applications, the optical encoder responds to the rotating shaft and receives movement related data. In liner applications, the optical encoder is used to determine an object’s exact position in relation to the encoder. Factors such as growing printed circuit board PCB market, increasing demand for consumer electronics, and the demand for miniaturization of electronic components has led to the growing demand for optical encoders across the globe.


The global optical encoder market has been segmented based on type, end user, and region.


By type, the market has been segmented into incremental and absolute. The absolute optical encoder segment is expected to dominate the market during the forecast period owing to its diverse end-use applications across verticals that demand higher accuracy, better resolution, and enhanced system reliability. Furthermore, these encoders are cost-efficient which makes it the most preferred solution for small businesses across the globe.


By channel, the market has been segmented into 1 channel, 2 channels, 4 channels, and more than 8 channels. The 2 channel segment is estimated to dominate the market during the forecast period. These encoders can efficiently channel two quadrature signals and many a time, an additional index signal.


By end user, the market has been segmented into automotive, electronics, medical devices, textile & printing machinery, aviation, and others. The electronics segment is expected to dominate the optical encoder market during the forecast period owing to the growing demand for miniaturized and lightweight consumer electronics. Technical advances in the optical encoder market promote its wide adoption by consumer electronics manufacturers worldwide.


The key players profiled in the optical encoder market research report are Broadcom, Inc. (US), BEI Sensors (US), Rockwell Automation Inc. (US), Renishaw Plc. (UK), Dynapar (US), Allied Motion Technologies Inc. (US), Codechamp SA (France), Turck Holding GmbH (Germany), Honeywell International Inc. (US), GrayHill Inc. (US), Tokyo Sokuteikizai Co., Ltd (Japan), Bourns Inc. (US), Baumer Group (Switzerland), Faulhaber Group (Germany), and CTS Corporation (US).


The players of the market primarily focus on growth strategies such as partnerships, mergers, acquisitions, and new product development to enhance their product offerings and expand their market reach. For instance, in November 2018, BEI Precision Systems & Space Company, Inc. acquired Thistle Design (MMC) Limited (Scotland), a leading supplier of encoders, resolvers, and other positioning and measurement sensors for the defense and industrial markets in the UK.


Competitive Analysis


The key players have adopted new product development as a part of their organic growth strategy to further increase their market share. For instance, in 2017, Reinshaw PLC, a provider of Optical Encoder, launched a new absolute open-optical encoder system— RESOLUTE FS. This encoder system offers all the benefits of the standard RESOLUTE variant but with FS certification. Similarly, in 2016, Micromo, a division of Faulhaber Group launched two new high precision optical encoders— IER3 AND IERS3. Both encoders deliver 2 channel quadrature signals and an additional index signal.


Key players


The prominent players in the optical encoder industry are Broadcom, Inc. (US), BEI Sensors (US), Rockwell Automation Inc. (US), Renishaw Plc. (UK), Dynapar (US), Allied Motion Technologies Inc. (US), Codechamp SA (France), Turck Holding GmbH (Germany), Honeywell International Inc. (US), GrayHill Inc. (US), Tokyo Sokuteikizai Co., Ltd (Japan), Bourns Inc. (US), Baumer Group (Switzerland), Faulhaber Group (Germany), and CTS Corporation (US).


Optical Encoder Market
 Optical Encoder Market


Source: MRFR Analysis


Segmentation


By type, the market has been bifurcated into incremental and absolute.


By channel, the market has been segmented into 1 channel, 2 channels, 4 channels, and more than 8 channels


By end user, the market has been segmented into automotive, electronics, medical devices, textile & printing machinery, aviation, and others.


By region, the market has been segmented into North America, Europe, Asia-Pacific, and the rest of the world.


Regional Analysis


The global market for optical encoder market is estimated to grow at a significant rate during the forecast period from 2019 to 2024. The geographical analysis of the optical encoder market is done for North America, Europe, Asia-Pacific, and the rest of the world. 


Asia-Pacific is expected to register the highest CAGR in the optical encoder market from 2019 to 2024 owing to the high concentration of electronic component manufacturers in the region that demands optical encoders to avail benefits such as high efficiency. Furthermore, the availability of low-cost raw materials promotes mass production of low-cost optical encoders in the region. However, North America is expected to dominate the optical encoder market during the forecast period owing to high concentration of market players and easy availability of proficient technical expertise.


Intended Audience



  • Semiconductor product designers and fabricators

  • Application providers

  • Business providers

  • Research institutes

  • Market research and consulting firms

  • Technology investors

  • Governments and financial institutions

  • Analysts and strategic business planners  



Frequently Asked Questions (FAQ) :


The market value in 2018 was USD 1.18 billion in 2018 and its value in 2024 is expected to be USD 2.55 billion.

The absolute optical encoder segment can attain the leading spot in the global market.

2 channel encoders have the ability to channel two quadrature signals efficiently and in most cases, an additional index signal as well, which boosts their demand in the market.

Aviation, electronics, automotive, textile & printing machinery, medical devices, are the main end-users in the global market for optical encoder.

Most of the players are adopting growth strategies like mergers, partnerships, product innovation and acquisitions in an attempt to elevate their product offerings and also increase their reach across various geographies.

Table of Contents
1 Executive Summary

1.1 Market Attractiveness Analysis

1.2 Global Optical Encoders Market, by Type

1.3 Global Optical Encoders Market, by Channel

1.4 Global Optical Encoders Market, by End User

1.5 Global Optical Encoders Market, by Region

2 Scope of the Report

2.1 Market Definition

2.2 Scope of the Study

2.3 Markets Structure

2.4 Key Buying Criteria

2.5 Macro Factor Indicator Analysis

3 Market Research Methodology

3.1 Research Process

3.2 Secondary Research

3.3 Primary Research

3.4 Forecast Model

3.5 List of Assumptions

4 Market Insights

5 Market Dynamics

5.1 Introduction

5.2 Drivers

5.3 Restraints

5.4 Opportunities

5.5 Challenges

5.6 Technological Trends

5.7 Regulatory Landscape/Standards

6 Market Factor Analysis

6.1 Supply/Value Chain Analysis

6.1.1 R&D

6.1.2 Manufacturing

6.1.3 Distribution & Sales

6.1.4 Post-Sales Monitoring

6.2 Porter’s Five Forces Model

6.2.1 Threat of New Entrants

6.2.2 Bargaining Power of Suppliers

6.2.3 Bargaining Power of Buyers

6.2.4 Threat of Substitutes

6.2.5 Intensity of Rivalry

7. Global Optical Encoders Market, by Type

7.1 Introduction

7.2 Incremental

7.2.1 Market Estimates & Forecast, 2018–2024

7.2.2 Market Estimates & Forecast, by Region, 2018–2024

7.3 Absolute

7.3.1 Market Estimates & Forecast, 2018–2024

7.3.2 Market Estimates & Forecast, by Region, 2018–2024

8. Global Optical Encoders Market, by Channel

8.1 Introduction

8.2 1 Channel

8.2.1 Market Estimates & Forecast, 2018–2024

8.2.2 Market Estimates & Forecast, by Region, 2018–2024

8.3 2 Channel

8.3.1 Market Estimates & Forecast, 2018–2024

8.3.2 Market Estimates & Forecast, by Region, 2018–2024

8.4 4 Channel

8.4.1 Market Estimates & Forecast, 2018–2024

8.4.2 Market Estimates & Forecast, by Region, 2018–2024

8.5 More than 8 Channels

8.5.1 Market Estimates & Forecast, 2018–2024

8.5.2 Market Estimates & Forecast, by Region, 2018–2024

9. Global Optical Encoders Market, by End User

9.1 Introduction

9.2 Automotive

9.2.1 Market Estimates & Forecast, 2018–2024

9.2.2 Market Estimates & Forecast, by Region, 2018–2024

9.3 Electronics

9.3.1 Market Estimates & Forecast, 2018–2024

9.3.2 Market Estimates & Forecast, by Region, 2018–2024

9.4 Medical Devices

9.4.1 Market Estimates & Forecast, 2018–2024

9.4.2 Market Estimates & Forecast, by Region, 2018–2024

9.5 Textile & Printing Machinery

9.5.1 Market Estimates & Forecast, 2018–2024

9.5.2 Market Estimates & Forecast, by Region, 2018–2024

9.6 Aviation

9.6.1 Market Estimates & Forecast, 2018–2024

9.6.2 Market Estimates & Forecast, by Region, 2018–2024

9.7 Others

9.7.1 Market Estimates & Forecast, 2018–2024

9.7.2 Market Estimates & Forecast, by Region, 2018–2024

10. Global Optical Encoders Market, by Region

10.1 Introduction

10.2 North America

10.2.1 Market Estimates & Forecast, by Country, 2018–2024

10.2.2 Market Estimates & Forecast, by Storage Pattern, 2018–2024

10.2.3 Market Estimates & Forecast, by Type, 2018–2024

10.2.4 Market Estimates & Forecast, by End User, 2018–2024

10.2.5 US

10.2.5.1 Market Estimates & Forecast, 2018–2024

10.2.5.2 Market Estimates & Forecast, by Storage Pattern, 2018–2024

10.2.5.3 Market Estimates & Forecast, by Type, 2018–2024

10.2.5.4 Market Estimates & Forecast, by End User, 2018–2024

10.2.6 Canada

10.2.6.1 Market Estimates & Forecast, 2018–2024

10.2.6.2 Market Estimates & Forecast, by Storage Pattern, 2018–2024

10.2.6.3 Market Estimates & Forecast, by Type, 2018–2024

10.2.6.4 Market Estimates & Forecast, by End User, 2018–2024

10.2.7 Mexico

10.2.7.1 Market Estimates & Forecast, 2018–2024

10.2.7.2 Market Estimates & Forecast, by Storage Pattern, 2018–2024

10.2.7.3 Market Estimates & Forecast, by Type, 2018–2024

10.2.7.4 Market Estimates & Forecast, by End User, 2018–2024

10.3 Europe

10.3.1 Market Estimates & Forecast, by Country, 2018–2024

10.3.2 Market Estimates & Forecast, by Storage Pattern, 2018–2024

10.3.3 Market Estimates & Forecast, by Type, 2018–2024

10.3.4 Market Estimates & Forecast, by End User, 2018–2024

10.3.5 Germany

10.3.5.1 Market Estimates & Forecast, 2018–2024

10.3.5.2 Market Estimates & Forecast, by Storage Pattern, 2018–2024

10.3.5.3 Market Estimates & Forecast, by Type, 2018–2024

10.3.5.4 Market Estimates & Forecast, by End User, 2018–2024

10.3.6 UK

10.3.6.1 Market Estimates & Forecast, 2018–2024

10.3.6.2 Market Estimates & Forecast, by Storage Pattern, 2018–2024

10.3.6.3 Market Estimates & Forecast, by Type, 2018–2024

10.3.6.4 Market Estimates & Forecast, by End User, 2018–2024

10.3.7 France

10.3.7.1 Market Estimates & Forecast, 2018–2024

10.3.7.2 Market Estimates & Forecast, by Storage Pattern, 2018–2024

10.3.7.3 Market Estimates & Forecast, by Type, 2018–2024

10.3.7.4 Market Estimates & Forecast, by End User, 2018–2024

10.3.8 Italy

10.3.8.1 Market Estimates & Forecast, 2018–2024

10.3.8.2 Market Estimates & Forecast, by Storage Pattern, 2018–2024

10.3.8.3 Market Estimates & Forecast, by Type 2018–2024

10.3.8.4 Market Estimates & Forecast, by End User, 2018–2024

10.3.10 Rest of Europe

10.3.10.1 Market Estimates & Forecast, 2018–2024

10.3.10.2 Market Estimates & Forecast, by Storage Pattern, 2018–2024

10.3.10.3 Market Estimates & Forecast, by Type, 2018–2024

10.3.10.4 Market Estimates & Forecast, by End User, 2018–2024

10.4 Asia-Pacific

10.4.1 Market Estimates & Forecast, by Country, 2018–2024

10.4.2 Market Estimates & Forecast, by Storage Pattern, 2018–2024

10.4.3 Market Estimates & Forecast, by Type, 2018–2024

10.4.4 Market Estimates & Forecast, by End User, 2018–2024

10.4.5 Japan

10.4.5.1 Market Estimates & Forecast, 2018–2024

10.4.5.2 Market Estimates & Forecast, by Storage Pattern, 2018–2024

10.4.5.3 Market Estimates & Forecast, by Type, 2018–2024

10.4.5.4 Market Estimates & Forecast, by End User, 2018–2024

10.4.6 China

10.4.6.1 Market Estimates & Forecast, 2018–2024

10.4.6.2 Market Estimates & Forecast, by Storage Pattern, 2018–2024

10.4.6.3 Market Estimates & Forecast, by Type, 2018–2024

10.4.6.4 Market Estimates & Forecast, by End User, 2018–2024

10.4.7 India

10.4.7.1 Market Estimates & Forecast, 2018–2024

10.4.7.2 Market Estimates & Forecast, by Storage Pattern, 2018–2024

10.4.7.3 Market Estimates & Forecast, by Type, 2018–2024

10.4.7.4 Market Estimates & Forecast, by End User, 2018–2024

10.4.8 Rest of Asia-Pacific

10.4.8.1 Market Estimates & Forecast, 2018–2024

10.4.8.2 Market Estimates & Forecast, by Storage Pattern, 2018–2024

10.4.8.3 Market Estimates & Forecast, by Type, 2018–2024

10.4.8.4 Market Estimates & Forecast, by End User, 2018–2024

10.5 Rest of the World

10.5.1 Market Estimates & Forecast, by Region, 2018–2024

10.5.2 Market Estimates & Forecast, by Storage Pattern, 2018–2024

10.5.3 Market Estimates & Forecast, by Type, 2018–2024

10.5.4 Market Estimates & Forecast, by End User, 2018–2024

10.5.5 Middle East & Africa

10.5.5.1 Market Estimates & Forecast, 2018–2024

10.5.5.2 Market Estimates & Forecast, by Storage Pattern, 2018–2024

10.5.5.3 Market Estimates & Forecast, by Type, 2018–2024

10.5.5.4 Market Estimates & Forecast, by End User, 2018–2024

10.5.6 South America

10.5.6.1 Market Estimates & Forecast, 2018–2024

10.5.6.2 Market Estimates & Forecast, by Storage Pattern, 2018–2024

10.5.6.3 Market Estimates & Forecast, by Type, 2018–2024

10.5.4.4 Market Estimates & Forecast, by End User, 2018–2024

11. Company Landscape

11.1 Competitive Overview

11.2 Competitor Dashboard

11.3 Major Growth Strategy in the Global Optical Encoders Market

11.4 Competitive Benchmarking

11.5 Key Developments & Growth Strategies

11.5.1 New Product Launch/Service Deployment

11.5.2 Merger & Acquisition

11.5.3 Joint Ventures

12. Company Profiles

12.1 Broadcom

12.1.1 Company Overview

12.1.2 Product/Business Segment Overview

12.1.3 Financial Updates

12.1.4 Key Developments

12.2 BEI Sensors

12.2.1 Company Overview

12.2.2 Product/Business Segment Overview

12.2.3 Financial Updates

12.2.4 Key Developments

12.3 Rockwell Automation Inc.

12.3.1 Company Overview

12.3.2 Product/Business Segment Overview

12.3.3 Financial Updates

12.3.4 Key Developments

12.4 Renishaw Plc.

12.4.1 Company Overview

12.4.2 Product/Business Segment Overview

12.4.3 Financial Updates

12.4.4 Key Developments

12.5 Dynapar

12.5.1 Company Overview

12.5.2 Product/Business Segment Overview

12.5.3 Financial Updates

12.5.4 Key Developments

12.6 Allied Motion Technologies Inc.

12.6.1 Company Overview

12.6.2 Product/Business Segment Overview

12.6.3 Financial Updates

12.6.4 Key Developments

12.7 Codechamp SA

12.7.1 Company Overview

12.7.2 Product/Business Segment Overview

12.7.3 Financial Updates

12.7.4 Key Developments

12.8 Turck Holding GmbH

12.8.1 Company Overview

12.8.2 Product/Business Segment Overview

12.8.3 Financial Updates

12.8.4 Key Developments

12.9 Honeywell International Inc.

12.9.1 Company Overview

12.9.2 Product/Business Segment Overview

12.9.3 Financial Updates

12.9.4 Key Developments

12.10 GrayHill Inc.

12.10.1 Company Overview

12.10.2 Product/Business Segment Overview

12.10.3 Financial Updates

12.10.4 Key Developments

12.11 Tokyo Sokuteikizai Co., Ltd.

12.11.1 Company Overview

12.11.2 Product/Business Segment Overview

12.11.3 Financial Updates

12.11.4 Key Developments

12.12 Bourns Inc.

12.12.1 Company Overview

12.12.2 Product/Business Segment Overview

12.12.3 Financial Updates

12.12.4 Key Developments

12.13 Baumer Group

12.13.1 Company Overview

12.13.2 Product/Business Segment Overview

12.13.3 Financial Updates

12.13.4 Key Developments

12.14 Faulhaber Group

12.14.1 Company Overview

12.14.2 Product/Business Segment Overview

12.14.3 Financial Updates

12.14.4 Key Developments

12.15 CTS Corporation

12.15.1 Company Overview

12.15.2 Product/Business Segment Overview

12.15.3 Financial Updates

12.15.4 Key Developments

13 Conclusion

LIST OF TABLES
Table 1 Global Optical Encoders Market, by Region, 2018–2024

Table 2 North America: Optical Encoders Market, by Country, 2018–2024

Table 3 Europe: Optical Encoders Market, by Country, 2018–2024

Table 4 Asia-Pacific: Optical Encoders Market, by Country, 2018–2024

Table 5 Middle East & Africa: Optical Encoders Market, by Country, 2018–2024

Table 6 South America: Optical Encoders Market, by Country, 2018–2024

Table 7 Global Optical Encoders Type Market, by Region, 2018–2024

Table 8 North America: Optical Encoders Type Market, by Country, 2018–2024

Table 9 Europe: Optical Encoders Type Market, by Country, 2018–2024

Table 10 Asia-Pacific: Optical Encoders Type Market, by Country, 2018–2024

Table 11 Middle East & Africa: Optical Encoders Type Market, by Country, 2018–2024

Table 12 South America: Optical Encoders Type Market, by Country, 2018–2024

Table 13 Global Optical Encoders End User Market, by Region, 2018–2024

Table 14 North America: Optical Encoders End User Market, by Country, 2018–2024

Table 14 Europe: Optical Encoders End User Market, by Country, 2018–2024

Table 16 Asia-Pacific: Optical Encoders End User Market, by Country, 2018–2024

Table 17 Middle East & Africa: Optical Encoders End User Market, by Country, 2018–2024

Table 18 South America: Optical Encoders End User Market, by Country, 2018–2024

Table 19 Global Type Market, by Region, 2018–2024

Table 20 Global End User Market, by Region, 2018–2024

Table 21 North America: Optical Encoders Market, by Country

Table 22 North America: Optical Encoders Market, by Type

Table 23 North America: Optical Encoders Market, by End User

Table 24 Europe: Optical Encoders Market, by Country

Table 25 Europe: Optical Encoders Market, by Type

Table 26 Europe: Optical Encoders Market, by End User

Table 27 Asia-Pacific: Optical Encoders Market, by Country

Table 28 Asia-Pacific: Optical Encoders Market, by Type

Table 29 Asia-Pacific: Optical Encoders Market, by End User

Table 30 Middle East & Africa: Optical Encoders Market, by Country

Table 31 Middle East & Africa: Optical Encoders Market, by Type

Table 32 Middle East & Africa: Optical Encoders Market, by End User

Table 33 South America: Optical Encoders Market, by Country

Table 34 South America: Optical Encoders Market, by Type

Table 35 South America: Optical Encoders Market, by End User


LIST OF FIGURES

FIGURE 1 Global Optical Encoders Market Segmentation

FIGURE 2 Forecast Methodology

FIGURE 3 Porter’s Five Forces Analysis of the Global Optical Encoders Market

FIGURE 4 Value Chain of the Global Optical Encoders Market

FIGURE 5 Share of the Global Optical Encoders Market in 2018, by Country (in %)

FIGURE 6 Global Optical Encoders Market, 2018–2024

FIGURE 10 Global Optical Encoders Market Size, by Type, 2018

FIGURE 11 Share of the Global Optical Encoders Market, by Type, 2018–2024

FIGURE 12 Global Optical Encoders Market Size, by End User, 2018–2024

FIGURE 13 Share of the Global Optical Encoders Market, by End User, 2018–2024