LONDON, Oct. 10, 2016 /PRNewswire/ -- "Micro and nano PLC market to exhibit significant growth potential between 2016 and 2022"
The micro and nano PLC market is expected to grow at a CAGR of 6.9% between 2016 and 2022 to reach USD 8.89 billion by 2022. The key driving factors for the growth of the micro and nano PLC market are requirement for compact automation solutions, adoption of regulatory compliance, and the growing home & building automation market. However, the major restraining factors for the growth of this market are the additional cost incurred by the expandability of micro and nano PLC and the fluctuating prices of oil & gas.
"Market for nano PLC expected to grow at the highest rate during forecast period"
The nano PLC market is expected to grow at the highest CAGR between 2016 and 2022. The lower cost, greater flexibility, and compact size of nano PLC are the key factors expected to drive the growth of this market.
"Automotive to hold the largest share of the overall micro and nano PLC market"
The automotive industry is expected to hold the largest share of the global micro and nano PLC market in 2016. The increase in the production of vehicles each year and the increasing need for automation in automotive manufacturing to lower production cost and increase productivity are some of the factors expected to drive the demand for micro and nano PLCs in the automotive industry.
"APAC to be the fastest-growing market for micro and nano PLC during the forecast period"
The market for micro and nano PLC in the APAC region is expected to grow at the highest CAGR between 2016 and 2022. The rapid industrialization, aging infrastructure, economic growth, and growing automotive manufacturing in countries such as China and Japan are expected to drive the growth of the micro and nano PLC market in Asia.
The break-up of the profiles of primary participants for the report has been given below:
- By Company Type: Tier 1 – 50%, Tier 2 – 30%, and Tier 3 – 20%
- By Designation: C–Level Executives – 70%, Directors– 20%, and Others – 10%
- By Region: North America - 40%, Europe – 35%, APAC – 15%, and RoW – 10%
The key players in the market include ABB Ltd. (Switzerland), B&R Industrial Automation (Austria), General Electric (U.S.), IDEC Corporation (Japan), Mitsubishi Electric Corporation (Japan), Omron Corporation (Japan), Robert Bosch GmbH (Germany), Rockwell Automation Incorporation (U.S.), Schneider Electric SE (France), and Siemens AG (Germany).
The research report on the global micro and nano PLC market covers different segments, namely, type, offering, architecture, industry, and geography. The market has been segmented on the basis of type into micro PLC and nano PLC. On the basis of offering, the micro and nano PLC market has been classified into hardware, software, and services. The report covers two types of architecture, namely, fixed PLC and modular PLC. Further, the micro and nano PLC market has been segmented on the basis of industries into automotive, chemicals & fertilizers, food & beverages, home & building automation, metals & mining, oil & gas, pharmaceuticals, pulp & paper, and water & wastewater. The report covers four major geographical regions, namely, North America, Europe, Asia-Pacific (APAC), and Rest of the World (RoW).
Key Benefits of Buying the Report:
Illustrative segmentation, analysis, and forecast for the market based on type, offering, architecture, industry, and geography has been conducted to give an overall view of the micro and nano PLC market.
The Porter's five forces framework has been utilized along with the value chain analysis to provide an in-depth insight into the micro and nano PLC market.
The major drivers, restraints, opportunities, and challenges for the micro and nano PLC market have been detailed in this report.
The report includes a detailed competitive landscape along with key players, in-depth analysis, and revenue of key players.
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