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Programmable Automation Controllers Market: Key Trends and Competitive Landscape Overview
Programmable Automation Controllers Global Market Report 2024
According to The Business Research Company's, The programmable automation controllers market size has grown strongly in recent years. It will grow from $6.84 billion in 2023 to $7.25 billion in 2024 at a compound annual growth rate (CAGR) of 5.9%. The growth in the historic period can be attributed to introduction of programmable logic controllers, advancements in microprocessor technology, integration of human-machine interface (HMI), open architecture standards, industry 4.0 initiatives.
The programmable automation controllers market size is expected to see strong growth in the next few years. It will grow to $9.23 billion in 2028 at a compound annual growth rate (CAGR) of 6.2%. The growth in the forecast period can be attributed to increasing adoption of IoT, rising need for operational efficiency, demand for flexibility and scalability, focus on energy efficiency, emergence of edge computing. Major trends in the forecast period include predictive maintenance solutions, compliance with industry standards, advanced human-machine interface (HMI) and visualization, energy efficiency optimization, interoperability and standardization.
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Market Drivers and Trends:
The increasing demand for automation in various industries is expected to propel the programmable automation controller market going forward. Automation refers to integrating technologies and systems to perform tasks and processes with minimal human intervention. The increase in automation is due to efficiency and productivity, cost reduction, quality improvement, supply chain optimization, and demand for customization. Industrial automation is a programmable automation controller to modernize manufacturing processes, enhance productivity, and provide powerful processing capabilities. For instance, in October 2022, according to the International Federation of Robotics, a Germany-based non-profit organization, around 5.17 million new industrial robots were installed in industries worldwide in 2021, a 31% growth rate year over year. Therefore, increasing demand for automation in various industries is driving the growth of the programmable automation controller market.
Major companies operating in the programmable automation controllers market are developing advanced systems such as PLC410 flexible logic controllers to support scalable automation, minimize downtime, and increase productivity. PLC410 programmable logic controller (PLC) is a specialized industrial computer used to automate electromechanical processes, such as control of machinery on factory assembly lines, amusement rides, or lighting fixtures. For instance, in February 2024, WEG Industries, a Brazil-based electrical engineering, power, and automation technology company, launched the PLC410 to introduce innovative solutions for industrial applications. The PLC410 is a versatile programmable logic controller that enhances industrial automation processes. This advancement aligns with WEG's commitment to providing cutting-edge technology for efficient motor management and predictive maintenance solutions. Additionally, it features and is designed for industrial applications requiring high reliability, ease of programming, and process fault diagnosis.
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Major Key Players of the Market:
Siemens AG, General Electric Company, Mitsubishi Electric Corporation, Schneider Electric SE, Honeywell International Inc., ABB Ltd, Eaton Corporation, Emerson Electric Co., Delta Electronics Inc., Rockwell Automation Inc., Keyence Corporation, Bosch Rexroth AG, Omron Corporation, Yokogawa Electric Corporation, IDEXX Laboratories Inc., Beckhoff Automation GmbH & Co. KG, Phoenix Contact GmbH & Co. KG, Advantech Co. Ltd., WAGO Kontakttechnik GmbH & Co. KG, B&R Industrial Automation GmbH, IDEC Corporation, Turck Group, Red Lion Controls Inc., Unitronics Ltd., Pilz GmbH & Co. KG
Programmable Automation Controllers Market 2024 Key Insights:
• The programmable automation controllers market size is expected to see strong growth in the next few years. It will grow to $9.23 billion in 2028 at a compound annual growth rate (CAGR) of 6.2%.
• The Role Of Automation In The Programmable Automation Controller Market
• Advancements In Programmable Automation Controllers
• Asia-Pacific was the largest region in the programmable automation controllers market in 2023
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