Optical position sensor Market, by Type (One-Dimensional, Two-Dimensional, and Multiaxial)
The global optical position sensor market was valued at USD 1,462.3 million in 2017 and is expected to reach USD 2,648.4 million by the end of forecast period with a CAGR of 11.08%. The rapid growth of industrial automation is expected to create huge demand for optical position sensor. Optical position sensor is used for monitoring linear, angular and rotary movement on the factory floor. The need for optical position sensor for controlling application is rising due to continuous development in industrial automation. Optical position sensor is used in optical encoders to provide position feedback for actuators.
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