Pune, Sept. 07, 2023 (GLOBE NEWSWIRE) -- Programmable Logic Controller Market in Europe is expected to grow rapidly during the forecast period. Programmable Logic Controller Market analysis was conducted by dividing the market into four main segments: Type, Technology, and End-User. The Programmable Logic Controller Market size is expected to witness growth due to factors which include the growing demand for automation in industries.
Maximize Market Research a leading Information Technology & Telecommunication research firm has published a market intelligence report on the Programmable Logic Controller Market. As per the report, the total market opportunity by 2029 is expected to be USD 17.57 Bn. The total market was valued at USD 12.49 Bn in 2022 and it is expected to grow at a CAGR of 5 percent during the forecast period.
| Market Size in 2022 | USD 12.49 Bn. |
| Market Size in 2029 | USD 17.57 Bn. |
| CAGR | 5 % (2023-2029) |
| Forecast Period | 2023-2029 |
| Base Year | 2022 |
| Number of Pages | 286 |
| No. of Tables | 117 |
| No. of Charts and Figures | 115 |
| 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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Programmable Logic Controller Market Report Scope and Research Methodology
The Programmable Logic Controller (PLC) Market Report includes a whole and complete analysis of the global Programmable Logic Controller industry, concentrating on market trends, drivers, challenges, and opportunities. The report covers numerous aspects, such as market size, segmentation by Type, Technology, End-User, and region, competitive landscape analysis, and future market projections. The research methodology in this report includes primary and secondary collection of data sources, surveys of the market, and in-depth interviews with key industry investors. Region-wise analysis of the market share and size has been provided in the report. The detailed analysis of segments with the list of key players present in each region helps to understand the Programmable Logic Controller Market structure. Primary research involves data gathering directly from producers, suppliers, and end-users of PLC systems, enabling us to obtain real-time insights into market dynamics. Secondary research involves a thorough review of existing literature, industry reports, and publicly available data to validate and improve the findings.
Programmable Logic Controller Market Overview
The market has grown steadily in the past few years due to the increasing adoption of automation in various industries, such as automotive, food and beverage, and oil and gas globally. The oil and gas industry is expected to be a leading contributor to the growth of the PLC market, because of the increasing need for automation and control systems in the industry.
Programmable Logic Controller Market Dynamics
The Programmable Logic Controller Market is driven by different factors, including the need for automation in various industries. Automated systems increase the efficiency of the process, decrease human intervention, and optimize the utilization of resources. PLC systems can identify and correct errors rapidly and initiate quick responses without human interference, reducing machine downtime and increasing manufacturing efficiency. The need for modified products has made manufacturing processes more complex, with frequent changes required. This demand for customization has driven end-users to adopt and invest in more flexible systems, such as PC-based and cloud-based controllers, rather than PLCs. They remain a popular choice due to their scalability, ease of programming, and high reliability control.
Programmable Logic Controller Market Regional Insights
The Asia Pacific Programmable Logic Controller Market has majorly grown and the region held approximately 33.8% of the PLC market share in 2022. The demand for automation in many industries, such as automotive, food and beverage, semiconductors, etc. is gaining huge growth in this region.
The North America Programmable Logic Controller Market is the second largest region behind the Asia Pacific and is expected to dominate the global market during the forecast period. The presence of major players in the region, such as Rockwell Automation, Honeywell International, and Schneider Electric and countries like the United States are accounting for the majority of the market share. However, North America held approximately 28.4% of the PLC market share in the year 2022.
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Programmable Logic Controller Market Segmentation
By Type
- Modular PLC
- Compact PLC
- Rackmount PLC
- Large PLC
By Technology
- Traditional
- Safety
- Hybrid
The Programmable Logic Controller Market is segmented in technology, where multiple sub-segments are included such as Traditional PLC, Safety PLC, and Hybrid PLC. The usage of the traditional PLC segment is wide in numerous industries like manufacturing, automotive, and oil and gas. Whereas, safety PLCs are precisely designed for applications that require high levels of safety and are used in industries such as nuclear power, chemical processing, etc. On the other hand, the hybrid PLC segment is a grouping of traditional and safety PLCs, which offers the advantages of both technologies.
By End-user
- Automotive
- Chemical & Petrochemical
- Energy & Power
- Food & Beverage
- Oil & Gas
- Others
The PLC markets of End-Users include automotive, chemical & petrochemical, and others. The automotive segment is expected to hold the largest share of the PLC market during the forecast period. The adoption of the automotive segment is growing in demand as the adoption of automation in the industry is increasing. The chemical and petrochemical segment is also expected to gain important growth as the demand for safety and process automation in these industries is increasing. Moderate growth is expected for the energy and power segment during the forecast period due to the increasing emphasis on energy efficiency and sustainability. The food and beverage, oil and gas, and other segments including industries such as aerospace, pharmaceuticals, and water and wastewater treatment, segment is also expected to witness significant growth due to the increasing demand for automation in the food processing and packaging industry and for safety and automation in the industry.
Programmable Logic Controller Market Key Competitors include:
- Rockwell Automation Inc.
- General Electric Company
- Honeywell International Inc.
- Eaton Corporation PLC
- Emerson Electric Co.
- Siemens AG
- ABB Ltd.
- Schneider Electric SE
- Bosch Rexroth AG
- Beckhoff Automation GmbH & Co. KG
- WAGO Kontakttechnik GmbH & Co. KG
- Danfoss A/S
- B&R Industrial Automation GmbH
- IDEMIA France SAS
- Mitsubishi Electric Corporation
- Panasonic Corporation
- Omron Corporation
- Hitachi, Ltd.
- Toshiba Corporation
- Delta Electronics Inc.
- Yokogawa Electric Corporation
- Fuji Electric Co., Ltd.
- IDEC Corporation
- Advantech Co. Ltd.
- Yaskawa Electric Corporation.
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Key questions answered in the Programmable Logic Controller Market are:
- What is the expected CAGR of the Programmable Logic Controller Market during the forecast period?
- What was the Programmable Logic Controller Market size in 2022?
- What is the expected Programmable Logic Controller Market size in 2029?
- What are the global trends in the Programmable Logic Controller Market?
- What are the upcoming industry applications and trends for the Programmable Logic Controller Market?
- What recent industry trends can be implemented to generate additional revenue streams for the Programmable Logic Controller Market?
- What growth strategies are the players considering to increase their presence in the Programmable Logic Controller Market?
- What major challenges could the Programmable Logic Controller Market face in the future?
- Who held the largest market share in the Programmable Logic Controller Market?
Key Offerings:
- Past Market Size and Competitive Landscape (2017 to 2022)
- Past Pricing and price curve by region (2017 to 2022)
- Market Size, Share, Size & Forecast by Different Segment | 2023−2029
- Market Dynamics – Growth Drivers, Restraints, Opportunities, and Key Trends by Region
- Market Segmentation – A detailed analysis by Type of Electronic Waste, Source of Generation, Collection Methods, Recycling Processes, End-Use Industries, Channel of Disposal, and Stakeholders.
- 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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