Research Nester assesses the growth and market size of global programmable logic controller (PLC) market which is anticipated to be on account of the growing importance of automated manufacturing processing and rising expansion of automotive industries
Research Nester’s recent market research analysis on “Programmable Logic Controller (PLC) Market: Global Demand Analysis & Opportunity Outlook 2036” delivers a detailed competitors analysis and a detailed overview of the global programmable logic controller (PLC) market in terms of market segmentation by type, product type, end user, and by region.
Growing Production of Clean Energy to Promote Global Market Share of Programmable Logic Controller (PLC)
Increasing demand for clean energy or an expansion in renewable energy capacity is predicted to provide considerable potential prospects for worldwide programmable logic controller market participants. ABB will have delivered 5GW of PLC-based solar plant automation solutions in India by March 2021. ABB's SCADA system facilitates the effective operation of solar systems by allowing operators to monitor and assess power plants in real time. Moreover, the expanding automotive industry has increased the demand for the PLC. PLCs are utilized in the automotive sector to provide a versatile, durable, and easily programmable controller that can substitute hard-wired relay logic systems. They are commonly used as high-reliability automation controllers in severe situations.
Besides this, during the projected period, the programmable logic controller market is expected to rise due to increased industrial automation or the growing use of Industry 4.0. Industry 4.0 is transforming the ways of improving and distribution the products in the businesses. With the introduction of Industry 4.0, numerous industrial plants have adopted digital technology to boost efficiency and integrate smart manufacturing.
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Some of the major growth factors and challenges that are associated with the growth of the global programmable logic controller (PLC) market are:
Growth Drivers:
• Surging Dependency on the Renewable Energy
• Growing Adoption of Automation
Challenges:
It is difficult to ensure that PLCs from different manufacturers can integrate and interact with other automation components and systems, especially as technology changes. This is one of the major factors that is expected to stifle the market growth. In addition to this, PLC controllers constantly innovate to keep up with new technologies such as Industry 4.0, edge computing, and the Industrial Internet of Things (IIoT). This is sometimes difficult to follow and can stymie industry growth.
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By end user, the global programmable logic controller (PLC) market is segmented into food & beverage, automotive, chemical and petrochemical, pulp and paper, oil and gas, pharmaceutical, water and wastewater treatment, energy, and utilities. The automotive segment is to garner a highest revenue by the end of 2036 by growing at a significant CAGR over the forecast period. Rising production of vehicles with smart driving features and safety sensors is expected to drive the segment’s growth.
By region, the market in the Asia Pacific, amongst the market in all the other regions, is projected to hold notable share by the end of 2036. The growth of the market can be attributed majorly to the growing manufacturing sector of the region. The Asia Pacific area has seen tremendous growth in a variety of industries, particularly automotive, industrial, and manufacturing, and will likely keep on the upward path during the projected period. The manufacturing industry is a significant portion of China's economy, which is undergoing rapid transformation as a result of the present surge in IoT owing to the worldwide adoption of Industry 4.0 in the manufacturing industries.
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This report also provides the existing competitive scenario of some of the key players of the global programmable logic controller (PLC) market which includes company profiling of Eaton Corporation, Omron Corporation, Emerson Electric Co., OTEK Corporation, Electric Power Construction Corporation, Robert Bosch GmbH, Honeywell International Inc., Siemens AG, Rockwell Automation, and Schneider Electric SE
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