IMARC Group, a leading market research company, has recently releases report titled “Programmable Logic Controller (PLC) Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2024-2032” offers a comprehensive analysis of the industry, which comprises insights on the plc market growth. The global programmable logic controller (PLC) market size reached US$ 15.5 Billion in 2023. Looking forward, IMARC Group expects the market to reach US$ 24.1 Billion by 2032, exhibiting a growth rate (CAGR) of 4.91% during 2024-2032.
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Factors Affecting the Growth of the Programmable Logic Controller (PLC) Industry:
- Automation in Various Industries:
The rising demand for automation across various industries, including automotive, manufacturing, energy, and utilities, to enhance production efficiency, reduce human error, and cut operational costs is driving the adoption of PLCs. They offer flexible control over complex processes, adaptability to changes in production requirements, and integration with other digital systems. Their role in industry 4.0, characterized by smart factories and the internet of things (IoT), is crucial as they enable real-time data processing and control. The manufacturing sector is witnessing a rise in the adoption of PLCs for managing tasks like assembly line control, material handling, and quality control on account of the need for precision and consistency in high-volume production environments.
- Government Initiatives and Regulations:
Governing agencies worldwide are implementing policies and providing incentives to encourage the adoption of automation technologies in industries. These initiatives are part of broader strategies aimed at enhancing industrial productivity, ensuring workplace safety, and maintaining competitive advantages in the global market. These programs often include financial incentives, research and development (RD) grants, and technical support, creating a conducive environment for the adoption of PLCs. Additionally, regulations mandating the use of certain safety standards and energy-efficient technologies in industrial processes are driving the demand for modern PLC systems.
- Technological Advancements:
The increasing advancements in PLC technology are leading to the development of modern PLCs, which are more compact, powerful, and energy-efficient. They are also offering enhanced functionalities, such as improved data processing, wireless communication, and cloud connectivity. This evolution aligns with the growing trend of the industrial internet of things (IIoT), where PLCs play a pivotal role in facilitating communication between machines and systems, enabling predictive maintenance, and optimizing operations. The integration of artificial intelligence (AI) and machine learning (ML) algorithms is expanding the capabilities of PLCs, allowing for smarter decision-making and process optimization.
Leading Companies Operating in the Global PLC Industry:
- ABB Ltd.
- Delta Electronics Inc.
- Eaton Corporation plc
- Emerson Electric Co.
- Fuji Electric Co. Ltd.
- Hitachi Ltd
- Honeywell International Inc.
- Mitsubishi Electric Corporation
- OMRON Corporation
- Panasonic Holdings Corporation
- Robert Bosch GmbH
- Rockwell Automation Inc.
- Schneider Electric SE
- Siemens AG
- Toshiba Corporation
Programmable Logic Controller (PLC) Market Report Segmentation:
By Type:
- Hardware and Software
- Large PLC
- Nano PLC
- Small PLC
- Medium PLC
- Others
- Services
Hardware and software represents the largest segment as they are fundamental components required for the basic operation and programming of PLCs in various applications.
By End Use Industry:
- Automotive
- Energy and Utilities
- Chemical and Petrochemical
- Oil and Gas
- Pulp and Paper
- Pharmaceutical
- Water and Wastewater Treatment
- Food, Tobacco and Beverage
- Others
On the basis of end use, the market has been divided into automotive, energy and utilities, chemical and petrochemical, oil and gas, water and wastewater treatment, and others.
Market Breakup by Region:
North America (United States, Canada)
Asia Pacific (China, Japan, India, South Korea, Australia, Indonesia, Others)
Europe (Germany, France, United Kingdom, Italy, Spain, Russia, Others)
Latin America (Brazil, Mexico, Others)
Middle East and Africa
Asia Pacific dominates the market due to the automation of various industrial operations and the presence of major manufacturing hubs, which extensively use PLCs in automation processes.
Global Programmable Logic Controller (PLC) Market Trends:
The ongoing miniaturization of PLCs, coupled with more user-friendly interfaces, is making them suitable for a wider range of applications, including those with space constraints. Additionally, advancements in user interfaces, such as touchscreens and intuitive software, are making PLCs more accessible to a broader range of users. This ease of use and flexibility are making PLCs appealing in sectors beyond traditional industrial applications, such as in building automation and smart infrastructure projects.
The increasing integration of edge computing with PLCs for processing data locally, reducing latency, and improving response times in real-time control applications. This is especially beneficial in scenarios where quick decision-making is crucial, such as in automated production lines or real-time monitoring systems.
Other Key Points Covered in the Report:
- Porters Five Forces Analysis
- Value Chain Analysis
- Strategic Recommendations
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