Optical Encoder Market to Soar to US$ 4,851.9 Million by 2029, Exhibiting a CAGR of 9.7% from 2022 to 2029

Feb 27, 2024

The Optical Encoder Market revenue totalled ~US$ 2,333.4 Million in 2021 and is projected to reach ~US$ 4,851.9 Million by 2029, growing at a CAGR of 9.7% from 2022 to 2029.

Increasing implementation of advanced absolute optical encoders by manufacturers of surface mount technology (SMT) placement equipment will also remain a major booster to market growth through 2029.

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Key Takeaways – Optical Encoder Market Study

Commercialization of Quantum Dots to Create Lucrative Opportunity

Requirement for high performance optical encoders is expected to increase, owing to commercialization of quantum dots (QDs). These QoDs are used in a variety of thin film devices such as photo detectors, solar cells and LEDs. In flat panel display (FPD) applications, QDs offer improved efficiency, display life, power consumption, brightness and color saturation, along with reduced cost.

Experts at FMI expects manufacturers to shift from liquid crystal display (LCD) towards the development of QD-enabled devices such as cost-effective thin film transistor (TFT) products in the foreseeable future.

Improvement in performance will be crucial to meet demand for motion control in these QD devices. Advanced optical encoders are expected to emerge as the best solutions for servo feedback in applications that require highest precision, in turn creating potential business opportunities for manufacturers in the optical encoders market.

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Competitive Landscape

Many key players are inclined at investing heavily in innovation, research, and development practices to uncover increased applications of optical encoder. With the use of technology, vendors are also focusing on strategic partnerships and collaborations, new product developments and business expansion to capture huge customer base.

Optical Encoder Market Outlook by Category

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