Micro and Nano PLC Market Worth 8.89 Billion USD by 2022

Oct 03, 2016, 09:30 ET from MarketsandMarkets

PUNE, India, October 3, 2016 /PRNewswire/ --

According to the new market research report "Micro and Nano PLC Market by Type (Micro PLC, Nano PLC), Offering (Hardware, Software, Services), Architecture (Fixed PLC, Modular PLC), Industry (Automotive, Home & Building Automation, Food & Beverages), and Geography - Global Forecast to 2022", published by MarketsandMarkets, the market was valued at USD 5.58 Billion in 2015 and is expected to reach USD 8.89 Billion by 2022, at a CAGR of 6.9% between 2016 and 2022.

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Browse 66 market data Tables and 78 Figures spread through 165 Pages and in-depth TOC on "Micro and Nano PLC Market"

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The factors that are driving the growth of market include the requirement for compact automation solutions, adoption of regulatory compliance, and growing home and building automation market.

"Micro PLC to be the largest market in the overall micro and nano PLC market during the forecast period" 

Micro PLC led the global Micro and Nano PLC Market between 2016 and 2022. The growth of the market is driven by factors such as ease of programming, greater flexibility, scalability, smaller size of micro PLCs, and the growing need for compact automation solutions.

"Modular PLC market to hold the largest share and grow at the highest rate between 2016 and 2022" 

\The modular PLC architecture can accomplish more complex processes and is designed to customize industrial processes for seamless operations. Moreover, the downtime of modular PLC is very less as it is easier to troubleshoot and allows some processes to be operational while the issues are being fixed. All these factors would lead to the higher adoption of modular PLCs during the forecast period.

"North America expected to lead the micro and nano PLC market between 2016 and 2022" 

The growth of the market in North America is mainly because of the heavy demand for micro and nano PLCs from the wastewater treatment, food & beverages, and power industries as well as the high adoption of cost-efficient automation technologies. Moreover, supportive government programs, various events and conferences, and new product launches and developments are also driving the growth of the North American market.

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The major players involved in the micro and nano PLC 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).

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