Programmable Logic Controller (PLC) Market 2021 Industry Share, Trends, Consumption, Growth, Top Manufacturers, Type and Forecast to 2026 - ABB Ltd, Mitsubishi Electric Corporation, Schneider

Market Intelligence Data has released a new report on the global Programmable Logic Controller (PLC) market. The document gives a complete evaluation of the market. It understands market development through in-depth insights, tracking historical developments and analysing current scenarios and future forecasts based on optimistic and possible situations. The report provides detailed statistics on the Programmable Logic Controller (PLC) market industry and its framework.

The data studied for the preparation of the report takes into account the current major players and the major players that will be listed. Industry top players are: ABB Ltd., Mitsubishi Electric Corporation, Schneider Electric SE, Rockwell Automation, Inc., Siemens AG, General Electric Co., Honeywell International Inc., Omron Corporation, Panasonic Corporation, Robert Bosch GmbH, Emerson Electric Co.

The programmable logic controller (PLC) market was valued at USD 11.21 billion in 2020 and is expected to reach USD 15.58 billion by 2026, at a CAGR of 5.3% over the forecast period (2021 - 2026).

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The primary intention of this Programmable Logic Controller (PLC) Market record is to offer Quantitative information withinside the shape of charts and graphs. The records concerning marketplace basics is furnished genuinely for the sake of readers. All the readers at the side of stakeholders will recognize the marketplace conditions and enterprise surroundings as it should be via this well-planned Market analysis. It will become clean to acquire the impact of COVID-19 on marketplace increase via this Programmable Logic Controller (PLC) marketplace record.

Key Market Trends

Automotive to Hold Significant Share for the Future Demand

- PLC has been adopted at the manufacturing stage to handle the ever-growing demands of the automotive industry. It was initially used as a relay replacement equipment in the automotive industry.
- The demand for automobiles has been increasing steadily, The Center for Automotive Research (CAR) at the University of Duisberg-Essen has predicted that the global annual growth of cars is expected at 2.2%. Owing to such potential growth, better production facilities enabled with automation are needed, which is expected to fuel the growth of PLCs in the domain.
- With technological advancements, PLCs can replace nearly 100 relays, making better space management and man management possible. Various new technology is also integrating with automobiles, for instance on Oct, 2019, there was an announcement to merge Aptiv's driverless operations with those of Hyundai Motor, which will accelerate the former's prospects by adding the South Korean automaker's expertise to Aptiv's, and providing a platform for the so-called robotaxis, which is driverless cars that earn revenue on a per-ride basis. Aptiv PLC (APTV) has to be regarded as one of the front-runners in the race to capitalize on driverless technology.

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Regional Analysis:

North America Leads in Innovation and Demand

- The United States is estimated to hold a major share in North America owing to rise in industrial investment in the mining and oil & gas sectors, which fuelled the utilization of PLCs, thereby propelling the market growth. SCADA is widely applied in the upstream, midstream, and downstream oil and gas sectors in the United States. In the upstream sector, its role is often stereotyped as being largely in support of remote data transmission. However, due to the wide and varied use of SCADA , the demand of PLC will increase effectively.
- The dominance is also buoyed by smart manufacturing initiatives, such as the Smart Manufacturing Leadership Coalition (SMLC), that drives and facilitates the broad adoption of manufacturing intelligence and automation. The next generation of urban infrastructure is on the horizon and as the technologies of the Internet of Things has become increasingly high with Industry 4.0, one can soon expect to see local authorities relying on it to improve living, working and travelling conditions. The government is focusing is on smart city development and there will be a high demand of industrial digital computer in coming years.

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Competitive Landscape

The PLC market is highly competitive and consists of several major players. In terms of market share, few of the major players currently dominate the market. These major players with a prominent share in the market are focusing on expanding their customer base across foreign countries. These companies are leveraging on strategic collaborative initiatives to increase their market share and increase their profitability. Moreover, new companies are also increasing their foot in this market. Key players are ABB Ltd., Mitsubishi Electric Corporation, Schneider Electric SE, etc. Recent developments in the market are -

- April 2019 - Schneider Electric, announced the opening of its new office facility designed completely on an open office concept in Pune, Maharashtra. On the back of this expansion, the company aims to consolidate its leading position and revenues for its wide array of energy management products and solutions. This is an integrated facility of the company for all its business operations as well Design Engineering Center of ASCO Power Technologies, USA.

Highlights of Programmable Logic Controller (PLC) Market report:

-           A complete backdrop analysis, which includes an assessment of the parent market

-           Important changes in Programmable Logic Controller (PLC) market dynamics

-           Market segmentation up to the second or third level

-           Historical, current, and projected size of the market from the standpoint of both value and volume

-           Reporting and evaluation of recent industry developments

-           Market shares and strategies of key players

-           Emerging niche segments and regional markets

-           An objective assessment of the trajectory of the market

Customization:

The Global Programmable Logic Controller (PLC) Market report may be modified to meet your specific business needs. Because we recognize what our customers want, we offer 25% customization for any of our MID reports at no extra fee to all of our customers.

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