Modular PLC Market Growth, Demand and Key Players to 2027
Modular PLC Market: Drivers
The modular PLC has the ability to complete the process while the other errors are being fixed. Moreover, the ease of troubleshooting the downtime of the modular PLC is lesser than the fixed PLC. Due to the aforementioned factors, global modular PLC is expected to witness significant growth during the forecast period. Furthermore, growing home and building automation market is expected to fuel the demand for modular PLC in the near future. Additionally, increasing requirement of automation solutions is projected to upsurge the demand for modular PLC during the forecast period.
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Modular PLC Market: Restraints
Higher initial cost as compared to fixed PLC is expected to be one of the factors hindering the growth of global modular PLC market over the forecast period. Furthermore, decrease in space efficiency, high cost of diagnostic labour during failure, need of enclosure due to low IP ratings and more spare stock, which increases maintenance cost are the other factors hampering the growth of global modular PLC market during the forecast period.
Modular PLC Market: Segmentation
The global modular PLC market can be segmented on the basis of product type, program memory size, offerings and end-use industry mainly. On the basis of product type, the global modular PLC market can be segmented into micro modular PLC and nano modular PLC. On the basis of program memory size, the market can be segmented into small size PLC (max two I/O module), medium size PLC (less than 100 I/O modules) and large size PLC (more than 100 I/O modules). On the basis of offerings, the modular PLC market can be segmented into hardware, software and services. On the basis of end use industry, the market can be further segmented into automotive, food and beverage, cement industry, home & building automation, metal & mining, pharmaceutical industry and others.
Modular PLC Market: Regional Outlook
Based on regions, North America is expected to dominate the global modular PLC market. The increasing demand for modular PLC from food and beverage, power and waste water treatment industries is expected to drive the growth of modular PLC market in North America. Asia Pacific, led by China and India, is projected to witness high growth during the forecast period. Rapid industrialization coupled with increasing manufacturing units in this region are projected to fuel the demand for modular PLC. Latin America and Europe are expected to witness positive growth during the forecast period. Japan, being the matured and developed market, is expected to witness stagnant growth in modular PLC market during the forecast period. Owing to growing industrialization and commercialization in Middle East & Africa, the modular PLC market is expected to exhibit significant growth during the forecast period.
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Modular PLC Market: Market Participants
Some of the examples of the prominent players identified in the global modular PLC market are as mentioned below:
B&R Industrial Automation
Mitsubishi Electric Company
Rockwell Automation Inc.
Schneider Electric SE
Robert Bosch GmbH
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