Programmable Logic Controller (PLC) Market the Rise of Demand Market Analysis and Growth Expectations in 2031 | ABB, Advanced Micro Controls, Inc, Bosch Rexroth Corporation

The Programmable Logic Controller (PLC) market has been a cornerstone in industrial automation, providing a robust and efficient control system for various manufacturing processes. In 2022, the global PLC industry was valued at a substantial US$ 11.6 billion. As we look forward to the next decade, the market is poised for significant growth, with an estimated Compound Annual Growth Rate (CAGR) of 4.7% from 2023 to 2031, projecting a market value of US$ 17.2 billion by the end of the forecast period.

Programmable logic controllers are widely used in manufacturing and industrial automation systems to improve operational processes and increase production capacity. Development of compact modular structures has increased the flexibility of PLC configurations, PLC computing, data processing, network communication, scan time, graphics display, and other features. PLC programming tools are continuously evolving. This allows them to be used widely in various control technology applications such as machine center control.

Request Your Sample Copy Now for a Deep Dive into Market Dynamics! - https://www.transparencymarketresearch.com/sample/sample.php?flag=S&rep_id=32672

Companies Profiled
• ABB
• Advanced Micro Controls, Inc.
• Bosch Rexroth Corporation
• Delta Electronics, Inc.
• Eaton
• Hitachi, Ltd.
• Honeywell International Inc.
• Mitsubishi Electric Corporation
• OMRON Corporation
• Panasonic Corporation
• Rockwell Automation
• Schneider Electric
• Siemens

Rise in Usage of PLCs in Automotive Industry

The automotive industry regularly adopts highly complex manufacturing processes. Key automation tasks in the automotive industry such as painting, stamping, assembly, and welding processes cannot be delayed. Therefore, automotive manufacturers are using programmable logic controllers in their automation plants.

Automation systems in automobiles help increase the productivity of systems. They improve cost efficiency and significantly reduce labor work. In October 2021, Nissan unveiled an intelligent factory at Tochigi, Japan. This intelligent factory allows the use of robots to manufacture next-generation vehicles.

Latest Market Trends and Developments

Keeping pace with technological advancements is crucial in the dynamic landscape of PLCs. The latest trends indicate a shift towards cloud-based PLC systems, enabling remote monitoring and control. Additionally, the integration of Artificial Intelligence (AI) and the Internet of Things (IoT) in PLC systems is gaining traction, promising enhanced efficiency and predictive maintenance capabilities.

Regional Outlook
According to the programmable logic controller (PLC) market analysis, Asia Pacific held prominent share of 36.3% in 2022. It is likely to dominate the global landscape in the near future due to the significant rise in demand for compact automation solutions in the region.

Increase in demand for PLCs in various end-use industries is augmenting programmable logic controller market dynamics of Asia Pacific. China, South Korea, Japan, and India are the major markets for programmable logic market in the region.

The programmable logic controller (PLC) market size in North America is projected to rise steadily during the forecast period. North America held 26.4% share in 2022. Increase in awareness about factory automation in new manufacturing companies is creating value-grab opportunities for the programmable logic controller (PLC) market in the region.

Key Developments
• In December 2022, Crouzet introduced Millennium Slim, the slimmest programmable logic controller. Millennium Slim is 17.5 mm wide.
• In July 2022, Omron Corporation developed the CP2E Micro PLC for small devices that support data collection and machine-to-machine communication. CP2E is one of the most powerful and effective solutions for stand-alone machines where cost performance is important. CP2E series controllers provide an excellent solution for flexible production where machine monitoring and traceability are required.

Inquire more about this report before purchase - https://www.transparencymarketresearch.com/sample/sample.php?flag=EB&rep_id=32672

Market Segmentation

By Offering
• Hardware
• Central Processing Unit (CPU)
• Power Supply
• Input/Output Module (I/O Module)
• Programming Device
• Memory System
• Software
• Services

By Type
• Compact PLC
• Nano PLC
• Micro PLC
• Modular PLC
• Small PLC
• Medium PLC
• Large PLC

By Application
• Packaging & Labeling
• Material Handling
• Escalator & Elevator
• Process Control
• Industrial Equipment Control System
• Safety Monitoring & Control
• Energy Management
• Home & Building Automation
• Others (Smart Traffic Control, Production, etc.)

Regions Covered
• North America
• Latin America
• Europe
• Asia Pacific
• Middle East & Africa

Explore the TOC for a Detailed Insight into Market Trends and Forecasts!- https://www.transparencymarketresearch.com/sample/sample.php?flag=T&rep_id=32672

About Us Transparency Market Research
Transparency Market Research, a global market research company registered at Wilmington, Delaware, United States, provides custom research and consulting services. The firm scrutinizes factors shaping the dynamics of demand in various markets. The insights and perspectives on the markets evaluate opportunities in various segments. The opportunities in the segments based on source, application, demographics, sales channel, and end-use are analysed, which will determine growth in the markets over the next decade.
Our exclusive blend of quantitative forecasting and trends analysis provides forward-looking insights for thousands of decision-makers, made possible by experienced teams of Analysts, Researchers, and Consultants. The proprietary data sources and various tools & techniques we use always reflect the latest trends and information. With a broad research and analysis capability, Transparency Market Research employs rigorous primary and secondary research techniques in all of its business reports.

Contact Us
Nikhil Sawlani
Transparency Market Research Inc.
CORPORATE HEADQUARTER DOWNTOWN,
1000 N. West Street,
Suite 1200, Wilmington, Delaware 19801 USA
Tel: +1-518-618-1030
USA - Canada Toll Free: 866-552-3453

This release was published on openPR.