Programmable Logic Controller Market is Valued at USD 9006.21 Million in 2017 and Expected to Reach USD 11169.42 Million by 2024
Programmable Logic Controller Market: Global Size, Trends, Competitive, Historical & Forecast Analysis, 2018-2024 – The PLC has the ability to automatically detect error and acts accordingly without human supervision, which is a strong driving factor for this market.
Programmable Logic Controller Market is valued at USD 9006.21 Million in 2017 and expected to reach USD 11169.42 Million by 2024 with the CAGR of 3.12% over the forecast period.
Programmable logic controller is designed shock resistance computer which is used as the main controller of the automation system of an industry. These controllers are made to sustain harsh industrial environment like heat, cold, dust etc. The PLC is programmed using computer languages which are used for controlling different connected sensors and input devices. The PLC receives the data, then process it and send outputs using installed PLC program which is programed by ladder logic programming language. Main functions of PLC are to monitor, record machine temperature, pressure, storage level etc., automatically run processes, inform if a malfunction occurs and so on. Due to free of human interventions the downtime of machines can be reduced from 20% to 4% using PLC.
The PLC market is segmented on the basis of PLC types, product type, memory size and end-use industry. The PLC market is segmented in to macro PLC and nano PLC on the basis of type of product. On the basis of memory size, the PLC market is segmented in to small size PLC (max 2 I/O module), medium size PLC (less than 100 I/O modules, but not less than 2) and large size PLC (more than 100 I/O modules). On the basis of end-use industry, the market is segmented in to automotive, oil & gas and pharmaceuticals industry and others.
The regions covered in this programmable logic controller Market report are North America, Europe, Asia-Pacific and Rest of the World. On the basis of country level, market of Blood Flow Detector is sub divided into U.S., Mexico, Canada, UK, France, Germany, Italy, China, Japan, India, South East Asia, GCC, Africa, etc.
Key Players for Global Programmable Logic Controller Market Segmentation Reports–
Major Players in Plc Software market are IDEC, Honeywell International, Hitachi, Bosch Rexroth, Siemens, Mitsubishi Electric, GE (General Electric), Rockwell Automation, ABB, Beckhoff, Schneider Electric etc.
Browse the Full Report @ https://www.brandessenceresearch.com/semiconductor/programmable-logic-controller-market/
Introduction of PAC is going to be Significant Factor for the Development of Programmable Logic Controller Market.
The PLC’s shock resistance processor, with a real-time operating system, has become the main controlling system of the industrial automation world, even if Microsoft Windows-based open systems have introduced in to the market, a trend expected to continue as the PLC with its customized-built hardware, designed software according to user requirement, remains a solid choice for many industrial control applications.
The first driving factor of PLC market is that, it has no immediate replacement in automation field and second factor is, development in technology of programmable automation controller (PACs), which is described as the synchronization of PLC and PC. These two factors are the reasons for which PLC market is still growing significantly and one more factor is the modular PLC has the ability to complete the process while the other errors are being fixed which is a strong driving factor for this market.
As manufacturing industries includes machine vision and more complex robotics, the controls are becoming more complex and to include these advanced technologies in to programmable logic controllers, it costs more to the industries. If the industry wants to update PLC with new technology, it has to bear more cost in terms of installation and in training program for new system. For this reason, there is less motivation to adept old PLC systems in industries.
Due to technological improvement like shrinking size of circuit boards, electronic equipment, PLC is now starting to be equipped with improved time cycle, more memory capacity and new communication features. It may pave the way for small PLCs to have many characteristics of higher-level PLCs.
North America is expected to dominate the PLC market
The PLC market in North America is developed comparing with other regions in terms of innovation and standards, this became the reason for product development, market structure and the competition is often measured in terms of performance but not price. The United States is going to experience the fourth industrial revolution, as large scale of data is generated and integrated by many manufacturing systems throughout the US supply chain. The United States is one of the largest PLC markets globally and it homes 13 major automotive manufacturers company. Also, increasing demand for food and beverages, power, and water treatment industries is going to expand the use of PLC market in North America.
Due to development of industrialization and increasing manufacturing units in Asia pacific region, mainly by China and India, the PLC market growth rate is increasing year by year. Both Latin America and Europe are having positive growth forecast in terms of PLC market. But Japan is experiencing stagnant growth due to having matured and developed market. The middle east Asia and Africa are also expected to experience high growth rate due to increase in industrialization.
Key Benefits for Global Programmable Logic Controller Market Segmentation Reports –
- Global market report covers in depth historical and forecast analysis.
- Global market research report provides detail information about Market Introduction, Market Summary, Global market Revenue (Revenue USD), Market Drivers, Market Restraints, Market opportunities, Competitive Analysis, Regional and Country Level.
- Global market report helps to identify opportunities in market place.
- Global market report covers extensive analysis of emerging trends and competitive landscape.
Programmable Logic Controller Market Segmentation
BY PLC Types
- Unitary PLC
- Modular PLC
- Rackmount PLC
By Product Type
- Macro PLC
- Nano PLC
By Programming Memory Size
- Small size PLC
- Medium size PLC
- Large size PLC
- Oil & gas
- North America
- Asia Pacific
- Southeast Asia
- Latin America
- Middle East and Africa
- Rest of Middle East and Africa