Optical Encoder Market Estimated to Reach US$ 5,345.6 Mn by 2022-2028
Optical Encoder Market A) Market Overview: The global Optical Encoder Market is estimated to be valued at US$ 2,184.3 million in 2021 and is expected to reach US$ 5,345.6 million by 2022, exhibiting a CAGR of 8.7% during the forecast period (2021-2028), as highlighted in a new report published by Coherent Market Insights. Optical encoders are electronic devices that convert angular or linear position into digital signals for measuring and controlling movement. These encoders offer various advantages such as high precision, reliability, non-contact operation, and resistance to dust, dirt, and moisture. The need for optical encoders is associated with their applications in various industries such as aerospace and defense, automotive, electronics, healthcare, and robotics. B) Market key trends: One key trend in the optical encoder market is the increasing demand for high-resolution encoders. With advancements in technology and the need for more accurate measurement in various industries...