Programmable Logic Controller (PLC) Market To Surpass US$ 20.2 Billion by 2028, CAGR of 5.38%

The latest research study "Programmable Logic Controller (PLC) Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2023-2028" by IMARC Group, finds that the global programmable logic controller (PLC) market size reached US$ 14.6 Billion in 2022. Looking forward, IMARC Group expects the market to reach US$ 20.2 Billion by 2028, exhibiting a growth rate (CAGR) of 5.38% during 2023-2028.

A programmable logic controller (PLC) refers to an electronic instrument that manages, monitors, controls, and automates industrial electromechanical processes. It contains various components, such as a central processing unit (CPU), power supply processor, and input/output (I/O) sections. PLC is extensively used to automate processes in elevators, automatic doors, amusement rides, light fixtures, road traffic signals, and machinery control on factory assembly lines. It is an independent system that improves and controls operations without human supervision. In addition, PLC aids in increasing flexibility, reliability, faster response time, and easy troubleshooting. As a result, this system finds widespread utilization across several sectors, including automotive, paper and pulp, chemicals and petrochemical, food and beverage (F&B), and oil and gas.

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Programmable Logic Controller (PLC) Market Trends and Drivers:

The elevating demand for this factory automation and control system that provides advanced solutions, such as energy consumption management, security monitoring, and automatic production lines, is primarily driving the programmable logic control (PLC) market. Besides this, the escalating product requirement in harsh industrial environments, owing to its intense robustness and capability of withstanding humidity, vibration, extreme temperatures, and electrical noise is further stimulating the market growth. Moreover, the incorporation of intelligent sensors, industrial cloud, machine-to-machine (M2M) communication, and cybersecurity technologies with PLC devices to enable seamless automation and improve operational efficiency is also catalyzing the global market. Apart from this, the development of compact solutions with cost-effectiveness, advanced features, and interoperability to meet the rising need for secured connectivity, improved control, and enhanced performance is acting as another significant growth-inducing factor. Furthermore, the expanding automotive industry and the launch of several policies by the government bodies to focus on the sustainable construction of smart cities are expected to bolster the programmable logic control (PLC) market in the coming years.

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Programmable Logic Controller (PLC) Market 2023-2028 Analysis and Segmentation:

Competitive Landscape:

The competitive landscape of the market has been studied in the report with the detailed profiles of the key players operating in the market.

• ABB Ltd.
• Delta Electronics Inc.
• Eaton Corporation plc
• Emerson Electric Co.
• Fuji Electric Co. Ltd.
• Hitachi Ltd.
• Honeywell International Inc.
• Mitsubishi Electric Corporation
• OMRON Corporation
• Panasonic Holdings Corporation
• Robert Bosch GmbH
• Rockwell Automation Inc.
• Schneider Electric SE
• Siemens AG
• Toshiba Corporation.

The report has segmented the market on the basis of type and end use industry.

Breakup by Type:

• Hardware and Software
o Large PLC
o Nano PLC
o Small PLC
o Medium PLC
o Others
• Services

Breakup by End Use Industry:

• Automotive
• Energy and Utilities
• Chemical and Petrochemical
• Oil and Gas
• Pulp and Paper
• Pharmaceutical
• Water and Wastewater Treatment
• Food, Tobacco and Beverage
• Others

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Breakup by Region:

• North America: (United States, Canada)
• Asia Pacific: (China, Japan, India, South Korea, Australia, Indonesia, Others)
• Europe: (Germany, France, United Kingdom, Italy, Spain, Russia, Others)
• Latin America: (Brazil, Mexico, Others)
• Middle East and Africa

Key highlights of the report:

• Market Performance
• Market Outlook
• Porter's Five Forces Analysis
• Market Drivers and Success Factors
• SWOT Analysis
• Value Chain
• Comprehensive Mapping of the Competitive Landscape

If you need specific information that is not currently within the scope of the report, we can provide it to you as a part of the customization.

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