Programmable Logic Controller (PLC) Market: Key Players – Bosch Rexroth, ABB, Eaton, Fuji Electric, KEYENCE, Koyo Electronics, IDEC, Panasonic, Yokogawa, Toshiba, Mitsubishi Electric, Rockwell Automation, OMRON, Schneider Electric, and Siemens
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The heavy industrial manufacturing sector is increasingly utilizing intelligent machine tools to enhance productivity. In light of industrial revolution, intelligent machining tools are using smart devices and components such as PLCs and smart sensors to cater to the requirements of industries such as food & beverage, petrochemical, and automobile. These components control a wide array of applications ranging from lighting functions to controlling environmental conditions such as in chemical industries. Increasing automation in industries is expected to propel the PLC market growth over the next seven years.
The complexity in the industrial control software is increasing and proper & efficient software is necessary to produce reliable, robust, & reusable software. This is expected to hamper the industry growth over the forecast time span. The International Electrotechnical Commission (IEC) has developed a set of standards for programmable control systems. This has simplified the standards-based reporting which allows accurate and meaningful reporting. These components have limited performance in high-temperature and vibration conditions. Due to these limitations, the usability of these components reduces to a large extent. This is expected to decelerate the PLC market over the forecast time span. However, the manufacturers are designing robust components to improve the performance of these systems.
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The Programmable Logic Controller (PLC) Market is characterized by the of components including integrated or compact, modular, small, large, and mid-sized. The integrated/compact PLC market is expanding rapidly owing to the increasing focus on the miniaturization of electronic products and machinery. The rapidly growing trend of miniaturization of electronics has helped in the penetration of integrated or compact components across industries, particularly the consumer electronics industry, where product design plays a vital role.
The Programmable Logic Controller (PLC) Market is characterized by the demand from application industries including automotive, oil & gas, pharmaceutical & chemical, food & beverage, and energy & power. The demand for these components from the automobile sector is growing rapidly owing to the increasing automation in the manufacturing industries. The automobile manufacturers are focusing on severe demand influx and are finding it difficult to cater to the requirements with increasing turn-around time hampering their businesses. To improve the turn-around time, the manufacturers are implementing automation in the manufacturing facilities, thus propelling the PLC market growth in the sector.
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Prominent vendors in the Programmable Logic Controller (PLC) Market include Bosch Rexroth, ABB, Eaton, Fuji Electric, KEYENCE, Koyo Electronics, IDEC, Panasonic, Yokogawa, Toshiba, Mitsubishi Electric, Rockwell Automation, OMRON, Schneider Electric, and Siemens. The vendors are increasingly investing in the technology to provide customized solutions to the customers. The customization strategy is expected to aid companies to gain a competitive advantage.
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