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NEW YORK , Aug. 2, 2022 /PRNewswire/ -- A PLC is a controller that facilitates automation and mechanical processes in manufacturing plants and buildings. It is directly incorporated with field devices such as sensors, transmitters, and actuators to provide seamless automation.
The latest report on the programmable logic controller (PLC) market size is expected to grow by USD 2.70 bn from 2021 to 2026. In addition, the growth momentum of the market will accelerate at a CAGR of 3.51% during the forecast period.
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The programmable logic controller (PLC) market report covers the following areas:
The increasing demand for compact automation solutions is driving the growth of the market. Large industrial manufacturing companies prefer to completely automate their manufacturing processes. The availability of PLCs helps SMEs utilize control-level automation at a low cost. Vendors are focusing on developing flexible machine designs that incorporate inputs from OEMs, manufacturers, and system integrators. Such factors enable a seamless transition from traditional automation to Industry 4.0. This will increase the demand for compact automation solutions.
The growing market for industrial PC and DCS as substitutes will challenge the market during the forecast period. There has been a shift from rackmount PLCs to generic PC-based platforms, with the growing demand for automation. A PC-based control system offers integration of PLC control, motion control, and SCADA on a single high-performance controller platform. This has increased the demand for industrial PC-based control systems. Moreover, new-generation industrial PCs can combine the functionality of a PLC and an operator panel into one unit. Developments in industrial PCs and DCS are expected to negatively impact the demand for PLCs.
ABB Ltd., Beckhoff Automation GmbH and Co. KG, Beijer Electronics Group AB, Eaton Corp. Plc, Emerson Electric Co., Festo SE and Co. KG, Fuji Electric Co. Ltd., IDEC Corp., Keyence Corp., Lenze SE, Mitsubishi Electric Corp., OMRON Corp., Panasonic Corp., Parker Hannifin Corp., Robert Bosch GmbH, Rockwell Automation Inc., Schneider Electric SE, Siemens AG, Toshiba Corp., and Infineon Technologies AG are among some of the major market participants. The key offerings of some of the vendors are listed below:
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Programmable Logic Controller (PLC) Market Scope
Accelerate at a CAGR of 3.51%
APAC, North America, Europe, Middle East and Africa, and South America
US, China, Japan, Germany, and UK
Leading companies, competitive strategies, consumer engagement scope
ABB Ltd., Beckhoff Automation GmbH and Co. KG, Beijer Electronics Group AB, Eaton Corp. Plc, Emerson Electric Co., Festo SE and Co. KG, Fuji Electric Co. Ltd., IDEC Corp., Keyence Corp., Lenze SE, Mitsubishi Electric Corp., OMRON Corp., Panasonic Corp., Parker Hannifin Corp., Robert Bosch GmbH, Rockwell Automation Inc., Schneider Electric SE, Siemens AG, Toshiba Corp., and Infineon Technologies AG
Parent market analysis, Market growth inducers and obstacles, Fast-growing and slow-growing segment analysis, COVID 19 impact and future consumer dynamics, and market condition analysis for the forecast period.
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