Modular PLC Market Information and Industry Trends to 2024 – Top Key Players are B&R Industrial Automation, Mitsubishi Electric Corporation, Rockwell Automation, OMRON Group, ABB, Schneider Electric and Siemens
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High initial cost compared to other PLC components is anticipated to hamper the modular PLC market growth. In addition, the need for enclosure owing to low IP ratings and the decrease in space efficiency are the other factors that hinder the industry growth. However, over the forecast timespan, the modular PLC market is anticipated to grow at a high rate owing to the growing adoption of these devices in automotive, and electronics industries as these components consist of distinct modules, which can be coupled together to meet complex industrial application demands and build a customized controller.
Key industry players involved in the global Modular PLC Market are as follows:
• B&R Industrial Automation
• Mitsubishi Electric Corporation
• Rockwell Automation
• OMRON Group
• Schneider Electric
Micro modular PLC market is driven by factors such as the growing need for compact and automation solutions, smaller size of the components, scalability, enhanced flexibility, and ease of programming. Usage of the micro-components helps end-use industries to interpret and monitor different variables and to actuate and control external systems. These components help in basic controls in a variety of general applications and are cost-effective and user-friendly. In addition, the rising demand for compact solutions in automation, extensive adoption of IoT connectivity, and growing awareness of automation in various industrial processes are the key factors driving the micro modular PLC market growth.
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The software modular PLC market is anticipated to witness a high growth over the coming years owing to the rise in capital investments for automating the industrial processes. The software is being used by end users in the metal & mining, and power & energy industries to enhance and implement automation for standardization. The software is a vital module in the automation solutions as they aid in real-time communication at a high speed. In the industry, several PLC software programs are available according to the necessity and mechanism of the devices. In addition, ongoing innovations in the technology have aided vendors to design and build compact and powerful components with features such as data sharing amongst the software and shop floor with the use of relational databases, FTP services, and web servers, driving the software modular PLC market demand.
Asia Pacific modular PLC market is anticipated to grow at a high rate owing to the growing demand from power & energy, and food & beverage industries. The industry is projected to grow owing to the rise in the manufacturing industries and the growing power distribution networks in China, India, Japan, and Singapore. The region has witnessed a rise in electricity consumption owing to fast industrialization and a wide customer base. The effective usage of the modular components is enhancing efficiency and reducing production costs & manpower, driving the modular PLC market demand in the region.
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Key players operating in the modular PLC market include B&R Industrial Automation, Mitsubishi Electric, Rockwell Automation, Inc., Omron Corporation, ABB Limited, Schneider Electric SE, and Siemens AG. Increasing rivalry among key players is expected to boost the modular PLC market growth. Companies are undergoing mergers and collaborations to enhance their product portfolio and strengthen their market position. For instance, in July 2017, ABB announced the acquisition of B&R Industrial Automation with an aim to strengthen its industry share and position.
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