Originally published on Technavio: Analysis and Forecast of the Programmable Logic Controller (PLC) Market APAC, North America, Europe, Middle East and Africa, South America (2024-2028)
Introduction:
The programmable logic controller (PLC) market is set to experience substantial growth, with an estimated CAGR of 4.1% between 2022 and 2027, resulting in a projected USD 3,289.73 million expansion. This growth is underpinned by factors such as the increasing demand for compact automation solutions, the burgeoning adoption of PLCs in renewable power generation, and the necessity for PLCs in smart factories. The report offers a detailed analysis of market dynamics, including drivers, trends, and challenges, along with historic market data from 2017 to 2021.
Market Dynamics:
The growth of the PLC market is driven by various factors, including the rising demand for compact automation solutions, particularly in smart factories. Furthermore, the increasing adoption of PLCs in renewable power generation and their requirement in various industrial sectors contribute to market expansion.
Market Trends:
An emerging trend in the PLC market is the focus on expanding the capabilities of micro PLCs. These compact controllers offer flexible programming, ease of use, and communication capabilities within a small footprint, making them ideal for controlling standalone machinery in both process and discrete industries. Recent advancements have further enhanced their capabilities, making them increasingly attractive for industrial applications.
Market Challenges:
Despite the growth prospects, the market faces challenges such as the growing market for industrial PCs and distributed control systems (DCS) as substitutes. Industrial PCs offer integrated functionalities and flexibility, while DCS provides distinct advantages over traditional PLCs, particularly in complex industrial settings. As a result, PLC manufacturers face competition from these alternative control systems.
Customer Landscape:
The report provides insights into the adoption lifecycle of the PLC market, ranging from innovators to laggards, across different regions. Additionally, it outlines key purchase criteria and drivers of price sensitivity to assist companies in devising effective growth strategies.
Vendor Landscape:
Leading companies in the PLC market employ various strategies, including strategic alliances, partnerships, mergers, and acquisitions, to enhance their market presence. Key players include ABB Ltd. and Emerson Electric Co., among others. The report offers detailed analyses of competitive landscapes and information on major market vendors.
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The report forecasts market growth by revenue globally, regionally, and at the country level, offering insights into trends and opportunities from 2017 to 2027.
With a comprehensive analysis of market dynamics, trends, and challenges, the report provides valuable insights into the PLC market. By examining regional markets and vendor landscapes, it serves as a valuable resource for stakeholders in the industry.
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