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| Programmable Logic Controller Market |
The global Programmable Logic Controller Market is estimated to be valued at US$ 12.89 Bn in 2023 and is expected to exhibit a CAGR of 5.4% over the forecast period 2023 to 2030, as highlighted in a new report published by Coherent Market Insights.
Programmable logic controllers (PLCs) are digital computers used for automation
of industrial processes, such as control of machinery on factory assembly
lines. PLC systems can range from small modular units with tens of I/O to large
interconnected systems with thousands of I/O that control multiple production
lines. The central processing unit (CPU) of a PLC system scans inputs, makes
processing/logic decisions on which outputs need to be activated based on its
program, and then sets the state of its outputs in a continuous scanning cycle.
This helps automate processes in several industries including food and
beverage, oil & gas, power generation, manufacturing and many more.
Market Overview:
Programmable logic controllers are rugged industrial computers used for
automation of industrial processes. PLCs are more reliable and flexible
compared to relay logic controllers traditionally used for industrial
automation. They have advantages such as ease of programming, modular design,
robustness and capability for remote communications.
Market key trends:
Hardware-based automation is witnessing high demand contributing to the growth
of the PLC market. Hardware components such as input/output modules, power
supply modules, processor modules, and communication modules form an integral
part of PLC systems. There has been increasing demand for modular PLC hardware
with additional onboard ports and slots to support more I/O modules. Companies
are offering PLC hardware with advanced technologies like increased processing
power, high-speed communication protocols, expanded memory capabilities and
integrated HMI interfaces to support complex IIoT applications. This trend
towards hardware-based automation with advanced PLC hardware is expected to
continue driving market growth over the forecast period.
Segment Analysis
The programmable logic controller market is segmented into components, type,
industry verticals, and geography. Based on components, the market is
bifurcated into hardware and software. The hardware segment dominates the
market as PLCs require hardware components such as processor modules, power
supplies, and input/output modules. The industry vertical segment includes oil
& gas, automotive manufacturing, food & beverage, chemical &
petrochemical, and pharmaceutical among others. The automotive segment is
dominating the programmable logic controller market owing to the widespread
adoption of PLCs in automotive manufacturing plants for manufacturing process
automation.
Key Takeaways
The global Programmable
Logic Controller Market Share is expected to witness high growth,
exhibiting CAGR of 5.4% over the
forecast period, due to increasing industrial automation across various
industries.
Regional analysis - Asia Pacific region is expected to grow at the fastest CAGR
during the forecast period. Growing industrialization and presence of emerging
economies such as China and India with established manufacturing sectors are
driving the market in the region.
Market size - The global programmable logic controller market size was valued
at US$ 12.89 Bn in 2023 and is expected to reach US$ 20.34 Bn by 2030.
Key players - Key players operating in the programmable logic controller market
are ABB Ltd, Toshiba International Corporation, Hitachi Ltd, Emerson Electric
Company, Robert Bosch GmbH, Panasonic Corporation, Omron Corporation, Honeywell
International Inc., Siemens AG, Rockwell Automation, Schneider Electric SE, and
Mitsubishi Electric Corporation.
Read More,
https://www.insightprobing.com/programmable-logic-controller-market-trends-size-and-share-analysis/
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