Nano Programmable Logic Controller (PLC) Market Expected to Reach $4,250 Million, by 2023

According to a new report published by Allied Market Research, titled, Nano Programmable Logic Controller (PLC) Market by Component, Service, Type, and Industry Vertical: Global Opportunity Analysis and Industry Forecast, 2017-2023, the nano programmable logic controller (PLC) market was valued at $2,585 million in 2016, and is projected to reach $4,250 million by 2023, growing at a CAGR of 7.0% from 2017 to 2023. The Processor segment held nearly half of the total market in 2016.

Early buyers will receive 20% customization on this report.

Nano programmable logic controller is used across numerous industries such as energy & power, automotive, oil & gas, pharmaceutical, and others. At present, rise in demand for automated electronic devices and increase in trend of artificial intelligence (AI) drive the market. Moreover, popularity of Internet of Things (IoT) is expected to provide lucrative opportunities to market players.

Access Full Summary at: https://www.alliedmarketresearch.com/nano-programmable-logic-controller-PLC-market

The processor segment is estimated to maintain its lead in the global nano programmable logic controller (PLC) market, as it is the most important part in the controller for operations. Moreover, input/output (I/O) segment is expected to grow, owing to its durability and easy replacement.

The fixed nano PLC segment dominated the global market in 2016, accounting for more than half of the total market share. Requirement for compact automation solutions, enhanced efficiency, and increased need for high-voltage operating devices fuel the market growth. However, the modular nano PLC segment is expected to grow at the highest CAGR of 6.3% during the forecast period, due to increase in demand for module rack system.

Get PDF of this Report @ https://www.alliedmarketresearch.com/request-sample/2349

Asia-Pacific was the major revenue contributor in 2016, and is expected to maintain its dominance throughout the forecast period. This is attributed to the increase in number of automated devices and solutions. Moreover, developments in energy & power and automotive sectors are anticipated to boost the growth of the nano programmable logic controller (PLC) market, especially in the Asia-Pacific countries, such as China, Japan, South Korea, and India.

Europe is anticipated to grow at highest CAGR of 8.4% during the analysis period, owing to increase in demand for automated devices and rise in the adoption of controllers in automotive and oil & gas sectors. Moreover, technological advancements to overcome complexity of the circuit are expected to offer lucrative opportunities for market players in the near future.

Key Findings of the Nano Programmable Logic Controller (PLC) Market:

• In 2016, the processor segment dominated the global nano PLC market, in terms of revenue, and is anticipated to grow at a CAGR of 6.2% during the forecast period.
• The modular nano PLC segment is expected to exhibit the highest growth rate, owing to the flexibility and durability.
• The training segment dominated the global nano PLC market, accounting for nearly half of the total market share in 2016.

The key players operating in the nano programmable logic controller (PLC) market have adopted new product launch as their preferred strategy to expand their market foothold. The major players profiled in this report include Mitsubishi Electric Corporation, Rockwell Automation Inc., Schneider Electric SE, Siemens AG, ABB Ltd., Robert Bosch GmbH, Honeywell International, Hitachi Ltd., IDEC Corporation, and General Electric.

About Us

Allied Market Research (AMR) is a full-service market research and business-consulting wing of Allied Analytics LLP based in Portland, Oregon. Allied Market Research provides global enterprises as well as medium and small businesses with unmatched quality of "Market Research Reports" and "Business Intelligence Solutions". AMR has a targeted view to provide business insights and consulting to assist its clients to make strategic business decisions and achieve sustainable growth in their respective market domain.

We are in professional corporate relations with various companies and this helps us in digging out market data that helps us generate accurate research data tables and confirms utmost accuracy in our market forecasting. Each and every data presented in the reports published by us is extracted through primary interviews with top officials from leading companies of domain concerned. Our secondary data procurement methodology includes deep online and offline research and discussion with knowledgeable professionals and analysts in the industry.

Contact Us

5933 NE Win Sivers Drive
#205, Portland, OR 97220
United States
Direct: +1-503-894-6022
Toll Free: +1 (800) 792-5285 (U.S. & Canada)
Fax: +1 (855) 550-5975
E-mail: sales@alliedmarketresearch.com

This release was published on openPR.