PLC Software Market to grow by USD 867.32 million from 2022 to 2027, Increasing industrial automation and digitization boosts the market growth - Technavio

NEW YORK, Sept. 6, 2023 /PRNewswire/ -- The PLC software market report has been added to Technavio's offering. The potential growth difference for the PLC software market between 2022 and 2027 is USD 867.32  million. The rising industrial automation and digitization drive the PLC software market growth during the forecast period. There is an increasing focus by several industries on improving efficiency, production, and cost-effectiveness. As a result, there is an increasing adoption of PLC software across industries to automate machines and operations. Furthermore, there is the degradation of PLC software with the integration of cutting-edge technology such as cloud computing, big data analytics, and the Internet of Things (IoT). Additionally, as PLC offers the programming and logic needed to manage and automate industrial processes, it plays an essential role in the journey of the global industrial sector toward digital transformation. Hence, such factors are positively impacting the PLC software market growth. Therefore it is expected to drive the global PLC software market growth during the forecast period. With ISO 9001:2015 certification, Technavio has proudly partnered with more than 100 Fortune 500 companies for over 16 years. Get deeper insights into the market size, current market scenario, future growth opportunities, major growth driving factors, the latest trends, and much more. Buy Full Report Here

Market Challenge -

Cybersecurity concerns and the need for robust PLC software security are significant challenges hindering the growth of the global PLC software market growth during the forecast period. There is an increase in reliance on PLC software systems across various industries due to the advent of industrial automation and digitization across the world. As a result, several PLC software across industries are desirable targets for hackers and are prone to cyber security attacks and data leakages. Therefore, it is essential for several programmable logic controller (PLC) software market players and industrial businesses to invest in strong security measures to tackle such challenges and mitigate the risks. Additionally, it has become crucial to set access restrictions in order to ensure the security of PLC networks. Furthermore, there is a need for constant improvements and modifications in security measures in order to maintain an edge in a threat environment that is continuously evolving. Hence, the inability to resolve cybersecurity issues could reduce confidence in PLC systems which can negatively impact the PLC software market growth. Therefore, it is expected to hinder the global PLC software market growth during the forecast period. Explain. Learn about additional key drivers, trends, and challenges available with Technavio. Read FREE Sample PDF Report Now

The plc software market has been segmented by deployment (Cloud-based and On-premise), type (Ladder logic, FBD, and Others), and geography (North America, Europe, APAC, Middle East and Africa, and South America). 

• The market share growth by the cloud-based segment is significant during the forecast period.  Some of the key benefits of the cloud-based segment include scalability, adaptability, cost-effectiveness, and simplicity of use. There is a growing trend among companies to adopt cloud-based PLC software solutions to automate their processes which is significantly contributing to the growth of this segment. Some of the main market players that offer cloud-based products include Siemens, Rockwell Automation, Schneider Electric, and ABB. Hence, such factors are expected to fuel the growth of this segment which in turn will drive the market growth during the forecast period.
• North America accounts for 31% of the growth of the global market during the forecast period. View FREE Sample Report for insights into the contribution of all the segments and regional opportunities in the report.

Key Companies in the PLC software market:

ABB Ltd., Delta Electronics Inc., Eaton Corp. Plc, Emerson Electric Co., General Electric Co., Hitachi Ltd., Honeywell International Inc., IDEC Corp., Keyence Corp., LS ELECTRIC Co. Ltd., Mitsubishi Electric Corp., OMRON Corp., Panasonic Holdings Corp., Rockwell Automation Inc., Schneider Electric SE, Siemens AG, Toshiba Corp., Yokogawa Electric Corp., Beckhoff Automation GmbH and Co. KG, and FANUC Corp.

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Table of Contents

Executive Summary

Market Landscape

Market Sizing

Historic Market Sizes

Five Forces Analysis

Market Segmentation by Deployment

Market Segmentation by Type

Market Segmentation by Geography

Customer Landscape

Geographic Landscape

Drivers, Challenges, & Trends

Company Landscape

Company Analysis

Appendix

About Technavio

Technavio is a leading global technology research and advisory company. Their research and analysis focus on emerging market trends and provide 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.

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