Pune, June 02, 2023 (GLOBE NEWSWIRE) -- A global research and business consulting firm, Maximize Market Research, has published a market intelligence report on the “Programmable Logic Controller Market”. The report is a combination of primary data and secondary data and domain experts have analyzed the Programmable Logic Controller Market from a local as well as a global point of view. Over the forecast period, Maximize Market Research expects the market to grow from USD 12.49 Bn in 2022 to USD 17.57 Bn in 2029 at a CAGR of 5 percent.
Programmable Logic Controller Market Report Scope and Research Methodology
| Market Size in 2022 | USD 12.49 Bn. |
| Market Size in 2029 | USD 17.57 Bn. |
| CAGR | 5 percent (2023-2029) |
| Forecast Period | 2023-2029 |
| Base Year | 2022 |
| Number of Pages | 276 |
| No. of Tables | 113 |
| No. of Charts and Figures | 112 |
| Segment Covered | Type, Technology and End-User |
| Regional Scope | North America, Europe, Asia Pacific, Middle East and Africa, South America |
| Report Coverage | Market Share, Size & Forecast by Revenue | 2022−2029, Market Dynamics, Growth Drivers, Restraints, Investment Opportunities, and Key Trends, Competitive Landscape, Key Players Benchmarking, Competitive Analysis, MMR Competition Matrix, Competitive Leadership Mapping, Global Key Players’ Market Ranking Analysis. |
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The Programmable Logic Controller Market report uses a bottom-up approach to estimate the market size by value. The report includes growth hubs, investment feasibility, restraints, and competitive analysis of the market in five major geographic regions such as North America, Asia Pacific, Middle East and Africa, Europe, and South America. The report presents a market analysis through segments along with its multiple sub-segments. The report involves data regarding mergers and acquisitions and partnerships by major key companies. The market data has been collected through primary and secondary research methods. Collected data is later analyzed by tools such as SWOT, PORTER’s five-force model, and PESTLE analysis which provides political, social, economic, environmental, technological and legal aspects of the market.
Programmable Logic Controller Market Overview
A Programmable Logic Controller Device is a ruggedized computer used for industrial automation. These controllers are expected to automate a specific process, machine function and an entire production line. The growing automation trends are expected to drive the Programmable Logic Controller Market.
Programmable Logic Controller Market Dynamics
The increasing need for automation in vulnerable industries and remote areas is expected to drive the Programmable Logic Controller Market. Also, the continuous research and development by the Programmable Logic Controller Key Manufacturers for advanced PLCs, includes characteristics such as greater memory, compact size, and high-speed Ethernet with wireless capabilities. The launch of Industry 4.0 such as the Internet of Things (IoT), artificial intelligence (AI), and cloud computing is expected to propel the growth of the Programmable Logic Controller Market.
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Trends:
- PLCs with Compact Size and Fast Processing: Technological advancements reduced the size of PLCs and are expected to help the electronics industry to transform drastically. PLCs are now available in micro and nano classes.
- Merger of Programmable Automation Controllers and PLCs expected to drive Market: Generally, a Programmable Automation Controller (PAC) is a hardened modular industrial controller which uses a PC-based processor and it provides a variety of programming options beyond the IEC 61131-3 programming languages.
The lack of skilled personnel in the industry and the threats from cyber-attacks are expected to limit the growth of the Programmable Logic Controller Market. The demand for compact-size and powerful PLCs includes a complex manufacturing process, which is expected to increase the Programmable Logic Controller Price.
Programmable Logic Controller Market Regional Insights
Asia Pacific is expected to grow at the highest CAGR during the forecast period in the Programmable Logic Controller Market. The growing use of the Industrial Internet of Things (IIoT) and the region is known as a hub for the automotive industry. These factors are expected to drive the Programmable Logic Controller Market in the region. The use of PLC provides benefits in the automotive, food and beverages and electronics industry.
North America is expected to hold the largest share of the Programmable Logic Controller Market by 2029. The region’s growth is supported by the presence of major Programmable Logic Controller Key Players and the continuous research and development by the Programmable Logic Controller Key Companies.
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Programmable Logic Controller Market Segmentation
By Type:
- Modular PLC
- Compact PLC
- Rackmount PLC
- Large PLC
Modular PLCs have characteristics such as more memory capacity and are capable of storing a large volume of data. Modular PLCs support the expansion of an existing process. A modular PLC is part of a rack system. It is possible to add extra modules to the rack as necessary without replacing the original PLC.
By Technology:
- Traditional
- Safety
- Hybrid
The traditional PLC segment is the most widely used type of PLC in various industries, such as automotive, manufacturing, and oil and gas. This offers better reliability, more flexibility, low cost and easy communication and easy troubleshooting. Also, the hybrid PLC segment is expected to hold the largest revenue share of the market since it offers characteristics of both technologies used in manufacturing.
By End-User:
- Automotive
- Chemical & Petrochemical
- Energy & Power
- Food & Beverage
- Oil & Gas
- Others
The automotive segment is expected to hold the largest share of the PLC market by 2029, thanks to the increasing adoption of automation in the industry. To avoid the risks of damage and to control the system in vulnerable areas, PLCs are used. After, the Chemical and oil and gas industry segments are expected to hold the largest share of the market due to the increased demand for workers and machines safety.
Programmable Logic Controller Key Competitors include:
- Siemens AG
- Rockwell Automation Inc.
- ABB Ltd.
- Mitsubishi Electric Corporation
- Schneider Electric SE
- General Electric Company
- Honeywell International Inc.
- Bosch Rexroth AG
- Beckhoff Automation GmbH & Co. KG
- Panasonic Corporation
- Omron Corporation
- Eaton Corporation PLC
- Emerson Electric Co.
- Hitachi, Ltd.
- Toshiba Corporation
- Delta Electronics Inc.
- Yokogawa Electric Corporation
- Fuji Electric Co., Ltd.
- WAGO Kontakttechnik GmbH & Co. KG
- IDEC Corporation
- Danfoss A/S
- B&R Industrial Automation GmbH
- IDEMIA France SAS
- Advantech Co. Ltd.
- Yaskawa Electric Corporation
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Key questions answered in the Programmable Logic Controller Market are:
- What is a Programmable Logic Controller?
- What was the Programmable Logic Controller Market Size in 2022?
- What is the expected Programmable Logic Controller Market size during the forecast period?
- What are the global trends in the Programmable Logic Controller Market?
- What are the major restraints for the Programmable Logic Controller Market?
- Which segment dominated the Programmable Logic Controller Market growth?
- What is the demand pattern for the Programmable Logic Controller Market?
- What growth strategies are the players considering to increase their presence in the Programmable Logic Controller Market?
- What are the upcoming industry applications and trends for the Programmable Logic Controller Market?
- Who are the leading companies and what are their portfolios in the Programmable Logic Controller Market?
- Which region dominates the largest market share in the Programmable Logic Controller Market?
Key Offerings:
- Past Market Size and Competitive Landscape (2018 to 2021)
- Past Pricing and price curve by region (2018 to 2021)
- Market Size, Share, Size & Forecast by different segment | 2022−2029
- Market Dynamics – Growth Drivers, Restraints, Opportunities, Organization Size, Application and Industry Vertical
- Market Segmentation – A detailed analysis by Type, Technology and End-User
- Competitive Landscape – Profiles of selected key players by region from a strategic perspective
- Competitive landscape – Market Leaders, Market Followers, Regional player
- Competitive benchmarking of key players by region
- PESTLE Analysis
- PORTER’s analysis
- Value chain and supply chain analysis
- Legal Aspects of Business by region
- Lucrative business opportunities with SWOT analysis
- Recommendations
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About Maximize Market Research:
Maximize Market Research is a multifaceted market research and consulting company with professionals from several industries. Some of the industries we cover include Automation & Process Control, pharmaceutical manufacturers, science and engineering, electronic components, industrial equipment, technology and communication, cars and automobiles, chemical products and substances, general merchandise, beverages, personal care, and automated systems. To mention a few, we provide market-verified industry estimations, technical trend analysis, crucial market research, strategic advice, competition analysis, production and demand analysis, and client impact studies.
