Modular PLC Market Estimated to Record Highest CAGR by 2017-2027

PLCs or Programmable Logic Controllers are generally the commercial or industrial computers used to operate automated systems. From traffic lights on streets to roller coasters at parks, PLCs are seen everywhere. To make PLC work, three major components are required, namely, the Central Processing Unit (CPU), the power supply and rack, and the I/O section. The two main categories of PLC are fixed and modular PLCs. Modular PLC (Programmable Logic Controller) is preferred over fixed PLC owing to its capability to execute complex processes. Furthermore, modular PLCs are also called rack-mounted units, consisting of bases for installation of various I/O modules, which are easier to repair. Capability to store more information, greater number of available I/O modules, designed to expand and customize processes for continuous development and greater economic security for long-term are some of the benefits, which are expected to be the factors for the market growth. Based on product type, micro modular PLC is expected to dominate the global modular PLC market.

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:

ABB Limited

B&R Industrial Automation

General Electric

IDEC Corporation

Mitsubishi Electric Company

Omron Corporation

Rockwell Automation Inc.

Siemens AG

Schneider Electric SE

Robert Bosch GmbH

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This release was published on openPR.