Optical Encoder Market is Expected a Major Surge in Revenue by 2028

The global optical encoder market was valued at US$ 2010.8 Mn in 2020 and is forecast to reach a value of US$ 3983.9 Mn by 2028 at a CAGR of 8.7% between 2021 and 2028.

Shaft and disc, LED light unit, photo detector, and signal processor are all components of an optical encoder. The input motor rotates the shaft and the disc, which contains several distinct patterns with transparent segments to measure the angular displacement. The light from the LED source passes via numerous patterns on the disc to reach the photo detector, resulting in an analogue signal by nature. The receiver's analogue signal is amplified, transformed to digital form, and then transferred for digital processing.

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The widespread adoption of absolute encoders across product lines could result in significant revenue increases. Many automation industry players that previously employed incremental encoder systems are now switching to absolute encoders. This is usually because absolute encoders provide more information to the control system while using fewer wires on a serial connection. The cost of the encoder is compensated by the cost of the connection and the cable.

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Major companies involved in the global optical encoder market are Honeywell International Inc., Renishaw plc, Sensata Technologies, Inc., US Digital, Rockwell Automation, Inc., Allied Motion Technologies Inc., and Grayhill Inc.

Market Dynamics- Driver -

Over the projected period, the worldwide optical encoder market is expected to rise because to rising need for high-quality assurance in SMR replacement procedures. Because of the rising complexity of electronic products, there is a growing requirement for high-quality assurance in surface mounting technology (SMT) procedures. In SMT procedures, modern machines are equipped with high-resolution verification cameras and fine-adjustment systems based on precise linear encoders on each axis. As a result, electronic components can be placed quickly and precisely on the printed circuit board (PCB), increasing the speed of each axis. As a result, machine throughput has increased significantly.

Recent Developments

Product development is a priority for the market's leading companies in order to expand their product line. Renishaw plc, for example, introduced QUANTiC, a linear optical incremental encoder with improved diagnostics compatibility, in November 2018.

Renishaw, a global metrology leader, introduced its smallest incremental optical encoder with digital output directly from the readhead in June 2019, removing the need for cumbersome connectors.

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