NEW YORK , March 31, 2022 /PRNewswire/ -- The global programmable logic controller (PLC) market size is expected to increase by USD 2.39 billion between 2020 and 2025. The market observed a YOY growth of 2.56% in 2021 and the growth momentum is expected to accelerate at a CAGR of 3% during the forecast period. The report provides a comprehensive analysis of recent developments, new product launches, major revenue-generating segments, and market behavior across geographies.
Download a Free Sample Report to know more about the report coverage.
The increasing demand for compact automation solutions is one of the major factors propelling the market growth. Industrial operators are increasingly adopting industrial internet of things (IIoT) solutions to enhance profitability and ensure real-time communication. Despite the benefits, the rising adoption of IoT-enabled processes is creating design challenges related to the reduction of price and the attainment of the benefits of factory automation for manufacturers and system integrators. Also, the move towards complete automation of processes is challenging for small and medium-sized enterprises (SMEs) due to budget constraints. Hence, most SMEs are considering the use of PLCs as they provide the same functionalities and features of large devices while consuming lesser power. All these factors are creating significant demand for PLCs, thereby driving the growth of the market.
Programmable Logic Controller (PLC) Market: End-user Landscape
By end-user, the market is segmented by process industry, discrete industry, and building automation.
End-users across the process industries exhibited high demand for PLCs in 2021.
PLCs are widely used in industries such as oil and gas, chemical and petrochemical, power, water and wastewater treatment, and food and beverage.
For example, in the oil and gas industry, PLCs are used in upstream oil and gas activities such as drilling, mooring, and positioning, and in platforms as well as in the midstream sector for monitoring spillage and leaks during oil or gas transportation. Similarly, in the power sector, PLCs are used to improve signal connectivity, server management, and data acquisition.
Many such factors are driving the growth of the process industries segment.
Programmable Logic Controller (PLC) Market: Product Landscape
By product, the market is segmented by unitary, modular, and rackmount.
The unitary PLC segment held the largest share in the market in 2021.
The increasing use of unitary PLCs in small machines and fixed applications owing to their low cost and compactness is driving the growth of the segment.
Programmable Logic Controller (PLC) Market: Geographic Landscape
By geography, APAC is going to have lucrative growth during the forecast period.
About 33% of the market's overall growth is expected to originate from APAC.
Factors such as strong industrialization, rising demand for medium-voltage and low-voltage motors, and increasing investments in the power, water and wastewater treatment, and food and beverage industries are driving the growth of the PLC market in APAC.
China and Japan are the key markets for PLCs in APAC.
Request for a Free Sample of this research report for highlights on other major segments and regions in the market.
Market share assessments for the regional and country-level segments
Strategic recommendations for the new entrants
Covers market data for 2020, 2021, until 2025
Market trends (drivers, opportunities, threats, challenges, investment opportunities, and recommendations)
Strategic recommendations in key business segments based on the market estimations
Competitive landscaping mapping the key common trends
Company profiling with detailed strategies, financials, and recent developments
Supply chain trends mapping the latest technological advancements
Micro Programmable Logic Controller (PLC) Market by Product, End-user, and Geography Forecast and Analysis 2022-2026
Tilt Sensor Market by End-user and Geography Forecast and Analysis 2022-2026
Programmable Logic Controller (PLC) Market Scope
Accelerate at a CAGR of 3%
APAC, North America, Europe, MEA, and South America
US, China, Japan, Germany, and UK
Leading companies, competitive strategies, consumer engagement scope
ABB Ltd., General Electric Co., Mitsubishi Corp., OMRON Corp., Panasonic Corp., Robert Bosch GmbH, Rockwell Industries Ltd., Schneider Electric SE, Siemens AG, and Toshiba Corp.
Parent market analysis, Market growth inducers and obstacles, Fast-growing and slow-growing segment analysis, COVID 19 impact and future consumer dynamics, market condition analysis for the forecast period.
If our report has not included the data that you are looking for, you can reach out to our analysts and get segments customized.
Market outlook: Forecast for 2020 - 2025
Unitary - Market size and forecast 2020-2025
Modular - Market size and forecast 2020-2025
Rackmount - Market size and forecast 2020-2025
Process industry - Market size and forecast 2020-2025
Discrete industry - Market size and forecast 2020-2025
Building automation - Market size and forecast 2020-2025
APAC - Market size and forecast 2020-2025
North America - Market size and forecast 2020-2025
Europe - Market size and forecast 2020-2025
MEA - Market size and forecast 2020-2025
South America - Market size and forecast 2020-2025
Currency conversion rates for US$
About Us Technavio is a leading global technology research and advisory company. Their research and analysis focuses on emerging market trends and provides actionable insights to help businesses identify market opportunities and develop effective strategies to optimize their market positions. With over 500 specialized analysts, Technavio's report library consists of more than 17,000 reports and counting, covering 800 technologies, spanning across 50 countries. Their client base consists of enterprises of all sizes, including more than 100 Fortune 500 companies. This growing client base relies on Technavio's comprehensive coverage, extensive research, and actionable market insights to identify opportunities in existing and potential markets and assess their competitive positions within changing market scenarios.
Contact Technavio Research Jesse Maida Media & Marketing Executive US: +1 844 364 1100 UK: +44 203 893 3200 Email: media@technavio.com Website: www.technavio.com/
View original content to download multimedia:https://www.prnewswire.com/news-releases/usd-2-39-bn-growth-expected-in-programmable-logic-controller-plc-market--high-demand-expected-from-process-industries--technavio-301513840.html
The market is unstable. Your portfolio doesn’t need to be.
Michael Burry, who bet on the collapse of subprime mortgages ahead of the 2008 financial crisis, is worried about the economy.
Digital payment platforms like Venmo, PayPal and CashApp have changed the way we use and keep physical cash on hand. Most people rarely keep cash on their person, much less at home. However, there are...
Inflation is still near multi-decade highs. Mr. Wonderful is using these stocks to fight back.
On Friday, five of China's biggest state firms announced their exit from Wall Street. More delistings could be on the way as Washington and Beijing remained embroiled in a dispute over audit rules for U.S.-listed Chinese companies.
Retirees and those seeking secure income got two items of very good news this week, though you may only have heard about one. July’s inflation came in below fears (although a debate now rages on what the “real” inflation rate is—more on that below). Meanwhile, your ability to earn a guaranteed rate of return on risk-free investments, regardless of what happens to inflation, actually went up.
Many semiconductor stocks slumped this year as investors fretted over concerns about slowing sales of PCs and smartphones, the potential overproduction of chips in response to the global chip shortage, and more conservative enterprise spending in a tougher macro environment. As a result, the Philadelphia Semiconductor Sector index has declined about 24% this year as the S&P 500 retreated just 12%.
Rogers knows how to survive — and thrive — in turbulent times.
Inflation has been making headlines all year, and rightly so; it’s at 40-year high levels, driven by sharp increases in the prices of gasoline and diesel fuels. But oil and its various refined products have come down in recent weeks, and so – the July inflation numbers weren’t as bad as had been feared. The overall year-over-year price increase for the month came to 8.5%, still awful, but less than the 8.7% economists had been predicting. Markets these days are rallying in response. Whether this
The super investor sees softness. But is sticking to her guns.
In this article, we discuss the top 10 winners of the Inflation Reduction Act 2022. If you want to see the top stocks in this category, check out The Inflation Reduction Act 2022: Top 5 Winners. The Inflation Reduction Act of 2022 was authorized by the U.S Senate on August 7, with the deciding vote […]
The latest analyst coverage could presage a bad day for Lucid Group, Inc. ( NASDAQ:LCID ), with the analysts making...
In this article, we talk about 11 best falling stocks to buy now. If you wish to skip our detailed analysis of the latest market situation, go directly to 5 Best Falling Stocks To Buy Now. After a brutal 2022 which saw the S&P500 shed more than 21% in the first half of the year, Q2 […]
Tesla has given investors something to look forward to this coming week: a three-for-one stock split. As of the close of trading on Aug. 24, Tesla shareholders will get a “dividend” of two extra shares. The next day, Tesla stock will start trading at the new price—a third of what it used to be.
Profit warnings from Nvidia and Micron have sent a chill through chip stocks, but the long-term opportunity is still intact.
These innovative growth stocks are ripe for the picking following a 34% peak plunge in the Nasdaq Composite.
Sen. Kyrsten Sinema, the Arizona Democrat who single-handedly thwarted her party's longtime goal of raising taxes on wealthy investors, received nearly $1 million over the past year from private equity professionals, hedge fund managers and venture capitalists whose taxes would have increased under the plan.
In this article, we will discuss 10 EV stocks that will benefit from the Climate Change Bill 2022. If you want to skip reading about the details of the bill, go directly to 5 EV Stocks that Will Benefit from Climate Change Bill 2022. On August 7, the U.S. Senate approved a comprehensive $430 billion […]
Michael Sonnenfeldt, founder and chairman of Tiger 21, said in an interview with CNBC that the exclusive network’s wealthy members were pouncing on opportunities despite their recession fears.
The National Highway Transit Safety Administration received over 50 complaints over brake hose ruptures.