The Future of the Programmable Logic Controller (PLC) Market Size, Share and Forecast 2019-2028

COVID-19 IMPACT ANALYSIS ON GLOBAL PROGRAMMABLE LOGIC CONTROLLER (PLC) MARKET

The global COVID-19 pandemic has badly hit many economies around the globe. It has affected lives and businesses worldwide. Due to the worldwide lockdown, various sectors and industries are facing challenges during this pandemic, which has impacted badly in the PLC market as well. Various sectors such as oil & gas and automotive have been down due to this pandemic has reduced the demand for PLC from these sectors. However, the demand for PLCs from industries such as pharmaceuticals will drive the market growth during this period as well.

To know the scope of our report get a sample on https://www.axiommrc.com/request-for-sample/11410-global-programmable-logic-controller-plc-market-report

MARKET OVERVIEW - GLOBAL PROGRAMMABLE LOGIC CONTROLLER (PLC) MARKET

A programmable logic controller (PLC) is an electronic device that is used for the control of manufacturing processes, such as assembly lines, robotic devices, or any activity that needs high reliability, ease of programming, and process fault diagnosis. It continuously monitors the state of input devices and makes decisions based upon a custom program to control the state of output devices. PLC are of various types that include integrated or compact PLC, modular PLC, small PLC, medium-sized PLC, and large PLCs. PLCs are designed to be extremely robust and can withstand extreme temperatures, humidity, vibration, and electrical noise. Increasing demand for PLC from the automotive industry will drive the PLC market growth. PLC are used in the automotive industry as relay replacement equipment. Besides, increasing adoption of automation systems in the automotive industry and the growth of the automotive industry will drive the market growth. Moreover, factors such as simple programming methods, ease of maintenance, and increasing developments in the manufacturing industry will further boost the market. North America is expected to have the largest share in the PLC market. This growth of the market in the region is attributed to the increasing industrial investment in the mining and oil & gas sectors that is boosting the utilization of PLCs in the region.

MARKET DRIVERS

PLC manufacturers are increasingly relying on IoT technologies such as machine-to-machine communication, smart sensors, industrial cloud, and cybersecurity due to rising demand for increased control, secure connectivity, and improved performance. Additionally, PLC manufacturers have started to innovate and merge traditional PLC systems with modern and contemporary technologies in order to support improved features, cost-effectiveness, and interoperability. The expanded use of robots in the automobile manufacturing, electrical, and electronic industries is another significant growth indication for PLCs in the discrete-manufacturing sectors. As one of the main applications for PLCs, robots are anticipated to have a substantial positive impact on the market. For instance, according to IFR, the operational stock of industrial robots is expected to reach 3,788 (in thousand units) by 2021, from 2,731 (in thousand units) in 2019. The growing need to boost production and improve worker’s safety is driving the industry’s demand for automation equipment. The long-term need for automation is anticipated to rise as a result of the COVID-19 pandemic, particularly to address the labour scarcity and growing costs.

MARKET OPPORTUNITIES

Players in the global programmable logic controller market have significant growth opportunities due to rising clean energy demand or rising renewable energy capacity. For instance, ABB delivered PLC-based solar plant automation solutions in India in March 2021, surpassing the cumulative 5GW milestone. Solar power plants can operate effectively due to ABB’s SCADA system technology, which enables operators to continuously monitor and evaluate power facilities. Moreover, Asia Pacific has shown rapid growth of the automotive industry which offers lucrative growth opportunities for players in the global programmable logic controller market. For instance, PLCs are used to provide a flexible, rugged, & easily programmable controller to replace hard-wired relay logic systems in the automobile manufacturing industry which are more suitable for harsh environments.

MARKET RESTRAINTS

 Increased adoption of distributed control systems (DCS) is expected to hamper the market growth of programmable logic controllers (PLC). Moreover, growing challenges due to rising PLC price and a lack of skilled professionals to operate PLC is anticipated to hinder the market growth during the forecast period.

CUMULATIVE GROWTH ANALYSIS

The report provides an in-depth analysis of the global water treatments chemical market, market size, and compound annual growth rate (CAGR) for the forecast period of 2022-2028, considering 2021 as the base year. With the increasing demand for energy and ongoing developments in the renewable energy sector has led to the increasing demand for the market which is expected to witness growth at a CAGR at specific CAGR from 2021-2028.

PROGRAMMABLE LOGIC CONTROLLER (PLC) MARKET SEGMENTAL OVERVIEW

The global water treatments chemical market comprises different market segments like type, solution, end users and geography. 

PROGRAMMABLE LOGIC CONTROLLER (PLC) MARKET BY TYPE

By type, the Programmable Logic Controller (PLC) Market includes key segment of

  • Integrated or Compact PLC
  • Modular PLC
  • Small PLC
  • Medium-sized PLC
  • Large PLCs

Based on type, the Programmable Logic Controller (PLC) Market is segmented into Integrated or Compact PLC, Modular PLC, Small PLC, Medium-sized PLC, and Large PLCs. Modular PLC is a rack-based system having individual power supply, processor, various IO modules, extension units, mounted on one or more racks whereas compact PLC are un-divided solid structures, generally non-expandable with a specific number of inputs, and outputs. Medium-sized PLC is one of the common PLCs used in most industries as they allows more modules to be plugged into it.

PROGRAMMABLE LOGIC CONTROLLER (PLC) MARKET BY SOLUTION

The PROGRAMMABLE LOGIC CONTROLLER (PLC) MARKET has major solution in

  • Hardware
  • Processor
  • Power Supply
  • Input/output (I/O)
  • Software
  • Service
  • Training
  • Maintenance
  • Consulting

Based on application, the Programmable Logic Controller (PLC) Market is segmented into Hardware, Processor, Power Supply, Input/output (I/O), Software, Service, Training, Maintenance, and Consulting. In PLC hardware refers to the physical component that make up a PLC system such as the processor, the power supply, the input/output modules and a programming device whereas PLC software refers to the PLC’s operating system and an application program that are stored in the PLC’s memory. Moreover, PLC are divided into three types based on output namely Relay output, Transistor output, and Triac output PLC. The basic principles of PLC operation are that they are used for continuously monitoring the input values from sensors and produce the outputs for the operation of actuators based on the program and consist of three modules: CPU module, Power supply module and one or more I/O module.

PROGRAMMABLE LOGIC CONTROLLER (PLC) MARKET BY END-USER

The PROGRAMMABLE LOGIC CONTROLLER (PLC) MARKET has major end-user in

  • Food & Beverage
  • Automotive
  • Energy & Utilities
  • Pharmaceuticals
  • Pulp & Paper
  • Oil & Gas
  • Water and Wastewater Treatment
  • Other End-user Industries

Based on End users, Food & Beverage, Automotive, Energy & Utilities, Pharmaceuticals, Pulp & Paper, Oil & Gas, Water, and Wastewater Treatment, and Other End-User Industries. Automotive is projected to lead in the end-user segment during the forecast period. For instance, Siemens Simatic PLC is the most popular PLC, according to market share. PLC is a special computer device used in industrial control systems due to its robust construction, and exceptional functional features like sequential control, counters, and timers.

PROGRAMMABLE LOGIC CONTROLLER (PLC) MARKET BY GEOGRAPHY

The global programmable logic controller (PLC) market is studied for the following region

  • North America
  • Europe
  • Asia-Pacific
  • Rest of the world (RoW)

North America is expected to account for the largest market share in the market during the forecast period. This growth of the market in the region can be attributed to the various initiatives and industrial investments in the region. Asia-pacific is anticipated to experience the highest growth due to the industrial sector’s rapid expansion and rising investment in automation solutions across various sectors. China is expected to remain the leading market in the APAC region for PLCs by making the rapid transformation with the recent growth in the IoT due to the rise in industry 4.0 across the manufacturing industries globally. For instance, China now ranks 9th globally in terms of manufacturing robot density, up from 25th (49 units) five years ago, according to the International Federation of Robotics (IFR). Furthermore, the nation anticipates that the average annual operating income growth rate of the robotics sector would surpass 20% by 2025. This extensive restructuring has elevated the nation to a leading position the PLC market globally.

COMPETITIVE LANDSCAPE ANALYSIS

The competitive landscape analysis of PROGRAMMABLE LOGIC CONTROLLER (PLC) MARKET is majorly focused on expanding the global growth of water-based coating with new product innovation, business expansion, and the increasing presence of a range of manufacturers operating in the coating market has led to the growing demand for the market.  Moreover, some of the collaborations and partnerships in the recent past across the region have further fuelled the application of PLCs in the region’s marketplace. For instance, Shanghai Besought Software Co Ltd introduced a large programmable logic controller device in July 2021, which is a crucial part of industrial control systems. The company claimed that the introduction of the PLC product had created a breakthrough in a market that was previously dominated by companies from the United States, Japan, and the European Union 

The key players studied in market are

  • ABB Ltd.
  • Honeywell International Inc.
  • Mitsubishi Electric Corporation
  • Schneider Electric SE
  • Rockwell Automation, Inc.
  • Omron Corporation
  • Siemens AG
  • General Electric Co.
  • Allen Bradley
  • Hitachi Industrial Equipment Systems Co., Ltd.
  • Panasonic Corporation
  • Robert Bosch GmbH
  • Emerson Electric Co.

RECENT DEVELOPMENT:

May 2022: The introduction of one of the Panasonic industry’s first motion controllers: the GM1. This small controller combines motion operations capabilities with PLC features like positioning, network modules, I/O modules, and a high-frequency counter. Response times of such little as 0.5 ms are possible due to the space-saving “all-in-one” solution, which integrates the modules into the GM1 motion controller.

August 2020: Nozomi Networks Labs reported that it had discovered five flaws in the authentication implementation of the MELSOFT communication protocol that affect Mitsubishi safety PLCs. Nazomi Networks claims that the MELSEC communication protocol, which is used to communicate and exchange data with the target devices by reading and writing data to the CPU module, has security flaws related to the design of an authentication mechanism. The company was expected to release a fixed version of the firmware soon.

Buy now Programmable Logic Controller (PLC) Market Report https://www.axiommrc.com/buy_now/11410-global-programmable-logic-controller-plc-market-report

About Us:

Axiom Market Research & Consulting™ is a full-service market research and data analytics company providing key market intelligence to global companies to take informed business decisions pertaining to their marketing strategy, investments, new product launches, market competition, consumer or end users, social media trends etc. 

Axiom Market Research & Consulting™ offers market research services such as syndicated market research, custom market research, business consulting, and consumer/end user surveys. Under Business to Consumer (B2C) market research offerings, Axiom MRC assists its clients in finding quantitative information/preferences of its brands and services such as, awareness, usages, satisfaction, tracking, ethnicity etc. Axiom MRC offers data collection services through online surveys, social media, data processing and interpretation.

Axiom MRC with its experienced team of research and data analysts, has delivered more than 5000+ Market Research Projects, 3800+ Data Analytics Projects, 1200+ Business Support Projects and has a 800+ Global Client Base. Axiom Market Research & Consulting™ aims to become the preferred market research and data analytics company by providing key market intelligence solutions for client’s business growth.

Contact Us:

Axiom Market Research & Consulting™

3 Germay Dr. Ste 4 - 4666

Wilmington DE 19804

U.S.:- + 1 (845) 875-9786

U.K.:- + 44 (0) 20 3286 9707

Email: sales@axiommrc.com

Website: https://www.axiommrc.com/

Blog: https://industrywatch24.com/

          https://readbeyondnews.com/

Follow On

LinkedIn: https://www.linkedin.com/company/axiom-market-research-and-consulting/

Twitter:  https://twitter.com/AxiommrcCom

Comments

Post a Comment

Popular posts from this blog

Freeze Drying Equipment Market: Growth, Opportunities, and Future Outlook

Freeze Drying Equipment Market is segmented based on type, application, and region. The different types of freeze drying equipment include laboratory, pilot, and industrial-scale equipment. The applications of freeze drying equipment include food processing, pharmaceuticals, biotechnology, and others. The market is dominated by the pharmaceutical and biotechnology segments due to the high demand for freeze-dried drugs and vaccines.   Freeze drying, also known as lyophilization, is a dehydration process used to preserve perishable materials such as food, pharmaceuticals, and biologicals. Freeze drying equipment is used to carry out this process, which involves freezing the material and then removing the ice by sublimation. Freeze drying equipment is an essential tool for industries that require long-term storage of perishable materials. The global freeze drying equipment market is expected to grow at a significant rate in the coming years due to the increasing demand for freeze...
Read more

Viral Vector Manufacturing Market Insights, Trends, And Forecasts 2019-2028

Image
Viral vector is the most effective means of gene transfer to modify specific cell type or tissue and can be manipulated to express therapeutic genes. Several virus types are currently being investigated for use to deliver genes to cells to provide either transient or permanent transgene expression. These include adenoviruses, retroviruses, poxviruses, adeno-associated viruses, baculoviruses, and herpes simplex viruses. The choice of virus for routine clinical use depends on the efficiency of transgene expression, ease of production, safety, toxicity, and stability. Furthermore, many types of viral vectors have been used in a wide array of basic and clinical studies, and genetic tools made possible to construct novel viruses intended for gene therapy, but also the development of vaccines. Moreover, in gene therapy, viral vectors can be applied to treat different diseases such as, metabolic diseases, heart defects and neurodegenerative disorders. Additionally, in vaccinology, a growing l...
Read more

Lubricants Market: Size, Segmentation, Key Players and Future Trends

Lubricants are essential fluids that help in reducing friction and wear and tear of machinery and equipment by forming a protective film on the surface. The global lubricants market is expected to grow at a significant pace in the coming years, primarily driven by the increasing demand from various end-use industries such as automotive, industrial, marine, and aerospace. This article will provide an overview of the lubricants market, including its growth drivers, market segmentation, key players, and future trends.   To know the scope of our report get a sample  on https://www.axiommrc.com/request-for-sample/1352-lubricants-market-report   INCREASING DEMAND FROM AUTOMOTIVE INDUSTRY   The automotive industry is the largest consumer of lubricants globally. With the increasing demand for automobiles worldwide, the demand for lubricants is also expected to grow. Lubricants play a crucial role in maintaining the performance of engines and other automotive com...
Read more