Programmable Logic Controller Market Forecasted to Cross Revenues Worth 2024

Programmable Logic Controller (PLC) technology is not recent in the industry, and is still in usage at a great extent by manufacturing companies. Programmable Logic Controller smoothens the mechanical automation process in manufacturing units and construction buildings. Due to its dynamic development, sequential control, counters and timers, ease of programming, reliable controlling capabilities, and ease of hardware usage; Programmable Logic Controllers are also utilized in various control system areas.

Market Overview:

Programmable Logic Controllers (PLC) in industrial automation supports machine movement on an assembly line. Programmable Logic Controllers has been an integral part of automation and control systems across many industries, and is expected to remain the same even with the advent of new technologies such as Process Automation Controllers (PACs) and other advanced computer-based controls. Programmable Logic Controllers are significantly applied in industries, and helps in eliminating hard wiring associated with conventional relay control circuits, enhancing the productivity. Constant emphasis on product innovation in industrial automation has linked the gap between functional capabilities of discrete control system and Programmable Logic Controller (PLC).

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Market Dynamics:

One of the major factors for growth in this market is the end-user. Most of the maintenance or automation technicians do not have appropriate know how of scripted languages and are comfortable with using Programmable Logic Controllers. Process Control PLC market is anticipated to witness constant growth over the estimated period. As the popularity and growing need of modified or customized Programmable Logic Controllers surge, the market will grow considerably. Modified Programmable Logic Controls provide solutions for process complexity, space limitation, and demanding industrial environment, along with stability, reliability, and interoperability.

Conversely, rising prices of Programmable Logic Controls (PLC), and lack of skilled personnel for advanced Programmable Logic Controllers; are the major restraints to the market growth during the forecast period.

Development of customized PLCs for application in various industries, represent significant opportunity for the PLC manufacturers.

Market Segment:

Programmable Logic Controls (PLC) market is segmented on the basis of product type, end user industries, and regions.

On the basis of product type, Programmable Logic Controls (PLC) market is segmented into Unitary PLCs, Modular PLCs, and Rack mount PLCs. Unitary Programmable Logic Controls segment, due to its cost-effectiveness, small size, and less downtime; has been considered as the major PLC segment.

On the basis of end user, Programmable Logic Controls (PLC) market is segmented into Process Industry, Discrete Industry, and Building Automation. Process industry segment has dominated the global Programmable Logic Controls (PLC) market, and is expected to continue the same during the projected period.

On the basis of application, the Programmable Logic Controls (PLC) market is segmented into Automotive, Paper & Pulp, Water & Waste Water Treatment, Chemical & Petrochemical, Food & Beverages, Energy & Utilities, Oil & Gas, Pharmaceutical, and others.

On the basis of geographical regions, the Programmable Logic Controls (PLC) market is segmented into seven different regions: North America, Latin America, Eastern Europe, Western Europe, Asia-Pacific region, Japan, and Middle East and Africa. MEA has dominated the Programmable Logic Controls (PLC) market and is expected to continue to manage its position in the forecast period as well. European region is highly dependent on automotive industry and is predicted to make heavy investments, which will boost the market for Programmable Logic Controllers and create various growth opportunities for wholesalers in the region.

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Key Market Players:

Some of the key players in the global Process Control PLC Market are Rockwell Automation, OMRON, Panasonic, Toshiba, Mitsubishi Electric, Delta Electronics, Siemens, Schneider Electric, Honeywell, ABB, Beckhoff Automation, Hitachi, Electronics and Yokogawa, KEYENCEK, Fuji Electric, IDEC, Bosch Rexroth, Eaton, and GE.

In 2016, Honeywell launched Control Edge Programmable Logic Controller with unprecedented connectivity through all levels of process and business operation.

Vendors in this market are increasingly experiencing accomplishments due to various factors, such as high investments in research and developmental activities, technology-based solutions, and the ability to provide customized Programmable Logic Controls (PLC).

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