Press release
Programmable Automation Controllers Market to Witness Huge Growth by Revenue during 2019-2026
In addition, rise in demand for machines with higher efficiency and connectivity fuel the market growth. However, high cost of programmable automation controllers is expected to restrain the growth of the market. Furthermore, increase in R&D activities related to construction technologies, wherein programmable automation controllers are useful, provides opportunities for the growth of the programmable automation controllers market.
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There are several players in the motion control market and product launch, product development, business acquisition, and business expansion are the growth strategies adopted by the key players.
For instance, in April 2017, ABB acquired B&R (Bernecker + Rainer Industrie-Elektronik GmbH). B&R is one of the largest independent providers focused on product- and software-based, open-architecture solutions for machine and factory automation worldwide.
Programmable automation controllers (PACs) are basically industrial computers that are constructed for manufacturing environments. These computers act as the brains of the manufacturing operation, providing highly reliable control of automation equipment. Programmable automation controllers have an open architecture and they incorporate modular design. They help an array of devices, networks, and systems to communicate and operate with each other.
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As they use standard protocols and network technologies such as Ethernet, OLE for Process Control (OPC), and Structured Query Language (SQL), they are used to communicate, monitor, and control equipment across multiple networks and devices. PACs provide more flexibility in programming, larger memory capacity, and better scalability for future expansion. They are particularly useful for systems with a high percentage of analog I/O.
The significant impacting factors for the growth of the programmable automation controllers market include increase in demand for the high-performance and powerful functionality controller, rise in demand for machines with higher efficiency and connectivity, and surge in demand for high-speed analog measurements.
In addition, the restraining factors by which the programmable automation controllers market gets influenced include high initial and maintenance cost. Furthermore, increase in R&D activities related to construction technologies, wherein programmable automation controllers are useful, provides lucrative opportunities for the growth of the programmable automation controllers market.
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The programmable automation controllers industry is segmented based on product type, type, application, and region.
Based on product type, the market is bifurcated into hardware and software. By type, it is categorized into integrated type, distributed type, and I/O type. Based on application, it is categorized into oil & gas, machine manufacturing, electrical & electronics, aerospace & defense, chemical, pharmaceuticals, automotive & transportation, and other. Based on region, the market is analyzed across Europe, Asia pacific, North America, and LAMEA.
KEY BENEFITS FOR STAKEHOLDERS
This study comprises analytical depiction of the global programmable automation controllers market trends with current trends and future estimations to depict the imminent investment pockets.
The overall potential is determined to understand the profitable trends to gain a stronger foothold.
The global programmable automation controllers market analysis report presents information related to key drivers, restraints, and opportunities with a detailed impact analysis.
The current market forecast is quantitatively analyzed from 2019 to 2026 to benchmark the financial competency.
Porter's five forces analysis illustrates the potency of the buyers and suppliers in the industry.
KEY MARKET SEGMENTS
By Product Type
Hardware
Software
By Type
Integrated Type
Distributed Type
I/O Type
By Application
Oil & Gas
Machine Manufacturing
Electrical & Electronics
Aerospace & Defense
Chemical
Pharmaceuticals
Automotive & Transportation
Other
BY REGION
North America
U.S.
Canada
Mexico
Europe
Germany
France
UK
Spain
Russia
Rest of Europe
Asia-Pacific
Japan
China
India
Rest of Asia-Pacific
LAMEA
Latin America
Middle East
Africa
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