NEW YORK, Jan. 21, 2022 /PRNewswire/ --
Programmable Logic Controller Market Facts at a Glance-
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According to the recent market study by Technavio, the Programmable Logic Controller Market is expected to grow by USD 2.39 billion between 2020 and 2025, at an accelerated CAGR of 3%. The report provides a detailed analysis of drivers & opportunities, top winning strategies, competitive scenario, future market trends, market size & estimations, and major investment pockets. APAC will register the highest growth rate of 33% among the other regions.
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Programmable Logic Controller (PLC) Market Value Chain Analysis
The end-to-end understanding of the value chains is essential in profit margin optimization and evaluation of business strategies. The value chain of the programmable logic controller (PLC) market includes the following core components:
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Regional Market Outlook
The Programmable Logic Controller Market share growth in APAC will be significant during the forecast period. China and Japan are the key markets for programmable logic controllers (PLC) in APAC. Market growth in this region will be faster than the growth of the market in the European, MEA, and North American regions. The 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 will facilitate the programmable logic controller (PLC) market growth in APAC over the forecast period.
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Vendor Insights-
The Programmable Logic Controller Market is fragmented, and the vendors are deploying growth strategies such as focusing on product delivery through multiple distribution channels to compete in the market.
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Latest Drivers & Trends Driving the Market-
The key factor driving growth in the programmable logic controller (PLC) market is the increasing demand for compact automation solutions. With the advent of the Industrial Internet of Things (IIoT), which is also called Industry 4.0 in the context of automation, challenges related to designing at a control level have increased significantly. Most large industrial manufacturing companies that have access to vast capital have automated their manufacturing processes completely. However, moving to automated processes is challenging for small and medium-sized enterprises (SMEs) due to budget constraints.
The increasing focus on expanding the capability of micro PLCs is another factor supporting the programmable logic controller (PLC) market share growth. Micro PLCs are rapidly becoming an indispensable solution for controlling standalone machinery in the process and discrete industries. Benefits such as programming flexibility, ease of use, communication capability within a compact structure, and low price compared with traditional PLCs are increasing the adoption of micro PLCs.With increasing technological advances, vendors have developed micro PLCs with high-speed communication capabilities to control large machines while featuring large program memory and with capabilities to support multiple communication. Moreover, some vendors are providing additional features to already launched products to increase their effectiveness.
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Programmable Logic Controller (PLC) Market Scope |
|
Report Coverage |
Details |
Page number |
120 |
Base year |
2020 |
Forecast period |
2021-2025 |
Growth momentum & CAGR |
Accelerate at a CAGR of over 3% |
Market growth 2021-2025 |
USD 2.39 billion |
Market structure |
Fragmented |
YoY growth (%) |
2.56 |
Regional analysis |
APAC, North America, Europe, MEA, and South America |
Performing market contribution |
APAC at 33% |
Key consumer countries |
US, China, Japan, Germany, and UK |
Competitive landscape |
Leading companies, competitive strategies, consumer engagement scope |
Companies profiled |
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. |
Market Dynamics |
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. |
Customization purview |
If our report has not included the data that you are looking for, you can reach out to our analysts and get segments customized. |
About Us
Technavio is a leading global technology research and advisory company. Their research and analysis focuses 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.
Contact
Technavio Research
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SOURCE Technavio
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