Global Optical Encoder Market 2018-2022 | Growing Need for SMT Equipment Promotes Growth | Technavio
Aug. 30, 2018
LONDON--(BUSINESS WIRE)--Aug 30, 2018-- market research analysts forecast the global optical encoder market to grow at a CAGR of over 11% during the forecast period. The increasing interest in using drones across various applications is one of the major trends being witnessed in the . Drones are becoming an integral part of many industries such as aerospace and defense, industrial, and retail. The laser detection and ranging (LiDAR) systems are used to operate drones. These systems act as optical systems and determine the fields of applications of commercial drones.
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Technavio has published a new market research report on the global optical encoder market from 2018-2022. (Graphic: Business Wire)
According to Technavio analysts, one of the key factors contributing to the growth of the global optical encoder market is the growing need for SMT equipment:
Global optical encoder market: Growing need for SMT equipment
SMT equipment is required to place components such as resistors and capacitors onto a PCB. The components that are placed on the PCB are called as surface mount devices (SMD). To place the electronic components accurately onto a PCB, the SMT equipment makes use of high-resolution verification cameras and fine adjustment systems such as encoders on each axis.
According to a senior analyst at Technavio for research on semiconductor equipment, “The demand for high-quality assurance in the SMT placement processes is increasing due to the rising complexity of electronic products. This is driving the demand for optical encoders integrated into SMT equipment. The growth of the PCB market has been promoting the growth of the global SMT equipment market.”
Global optical encoder market: Segmentation analysis
The global optical encoder market research report provides segmentation by product type (absolute encoder and incremental encoder), by end-user (machine tools manufacturers, assembly equipment manufacturers, consumer electronics and semiconductor equipment manufacturers, and healthcare equipment manufacturers), and by region (the Americas, APAC, and EMEA). It provides an in-depth analysis of the prominent factors influencing the market, including drivers, opportunities, trends, and industry-specific challenges.
Of the two major product types, the absolute encoder segment held the largest market share in 2017, contributing to over 65% of the market. This segment will dominate the global market throughout the forecast period.
APAC held the largest share of the market in 2017, accounting for close to 35% share. It was followed by the Americas and EMEA respectively. APAC is expected to dominate the market throughout the period 2018-2022.
Technavio’s sample reports are free of charge and contain multiple sections of the report such as the market size and forecast, drivers, challenges, trends, and more.
Some of the key topics covered in the report include:
Market LandscapeMarket ecosystem Market characteristics Market segmentation analysis
Market SizingMarket definition Market size and forecast
Five Forces Analysis
Geographical SegmentationRegional comparison Key leading countries
Vendor LandscapeVendors covered Vendor classification Market positioning of vendors Competitive scenario
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