The programmable logic controllers (PLC) automation market finds applications across various industries, including manufacturing, automotive, energy, and food processing. However, the dominating segment lies in manufacturing automation. PLCs are extensively employed in factories to control machinery, production lines, and industrial processes, enhancing efficiency and precision. The manufacturing sector's high demand for automation solutions, coupled with the need for real-time control and monitoring, positions it as the leading segment driving the PLC automation market's growth.
According to Data Bridge Market Research, the Global Programmable Logical Controllers Automation Market is expected to reach a value of USD 20,500.22 Million by 2030, at a CAGR of 5.7% during the forecast period of 2023-2030.
“High level of security boosts the market’s growth”
The strong driver for the growth of the programmable logic controllers (PLC) automation market is the high level of security these systems provide. PLCs are designed with robust cybersecurity features to protect critical infrastructure and industrial processes from cyber threats. With the increasing frequency and sophistication of cyberattacks, industries prioritize PLC-based automation systems for their resilience and reliability. This heightened focus on security drives the adoption of PLCs, bolstering the growth of the automation market.
What restraints the growth of the global programmable logical controllers automation market?
“High-cost restraints the market’s growth”
The programmable logic controllers (PLC) automation market faces a challenge due to its high cost. Implementing and maintaining PLC-based automation systems can involve substantial expenses, including hardware, software, and skilled personnel for installation and upkeep. Small and medium-sized businesses may find the initial investment prohibitive. This cost barrier can hinder widespread adoption and limit market growth, although the long-term benefits in terms of improved efficiency and productivity often justify the initial expenditure for larger enterprises.
Segmentation: Global Programmable Logical Controllers Automation Market
The global programmable logical controllers automation market is segmented on the basis of type, offering, enterprise size, and vertical.
- On the basis of type, the global programmable logical controller automation market is segmented into modular PLC, compact PLC, and rack PLC.
- On the basis of offering, the global programmable logical controller automation market is segmented into hardware and services.
- On the basis of enterprise size, the global programmable logical controller automation market is segmented into small scale enterprises, medium scale enterprises, and large scale enterprises.
- On the basis of vertical, the global programmable logical controller automation market is segmented into automotive, food and beverages, oil and gas, chemical and petrochemicals, energy and utilities, pulp and paper, and others.
Regional Insights: Asia-Pacific is expected to dominate Global Programmable Logical Controllers Automation Market
The Asia-Pacific region is poised to lead the global programmable logical controllers (PLC) automation market, driven by the substantial demand for PLC automation solutions in industrial automation. Furthermore, the increased need for PLC power modules and associated devices is anticipated to fuel market growth. The region's growing industrial sectors and emphasis on automation technologies position it as a key market for PLC solutions, contributing significantly to its dominance on the global stage.
To know more about the study visit, https://www.databridgemarketresearch.com/reports/global-programmable-logical-controllers-automation-market
- In January 2023, Panasonic Holding Corporation forged a strategic alliance with ATCO Australia in a new renewable energy venture. This partnership is expected to boost the company's financial position and contribute positively to the global programmable logical controller automation market's growth.
- In October 2022, Honeywell International Inc. and Hyundai Motor Group unveiled a collaborative effort in advanced air mobility avionics. This initiative has expanded the company's financial outlook and had a favorable influence on the global programmable logical controller automation market.
The Prominent Key Players Operating in the Global Programmable Logical Controllers Automation Market Include:
- PANASONIC CORPORATION (Japan)
- OMRON Corporation (Japan)
- Schneider Electric (France)
- Mitsubishi Electric Corporation (Japan)
- ABB (Switzerland)
- Rockwell Automation, Inc. (U.S.)
- Siemens (Germany)
- Emerson Electric Co. (U.S.)
- Honeywell International Inc. (U.S.)
- Beckhoff Automation (Germany)
- Delta Electronics, Inc. (Taiwan)
- Bosch Rexroth AG (Germany)
- Hitachi, Ltd. (Japan)
- Eaton (Ireland)
- JTEKT ELECTRONICS CORPORATION (Japan)
- KEYENCE CORPORATION (Japan)
- WAGO (Germany)
- LS ELECTRIC Co., Ltd. (South Korea)
- Yokogawa Electric Corporation (Japan)
- IDEC Corporation (Japan)
- Fuji Electric Co., Ltd. (Japan)
- FATEK AUTOMATION CORP (Taiwan)
Above are the key players covered in the report, to know about more and exhaustive list of global programmable logical controllers automation market companies contact, https://www.databridgemarketresearch.com/contact
Research Methodology: Global Programmable Logical Controllers Automation Market
Data collection and base year analysis are done using data collection modules with large sample sizes. The market data is analyzed and estimated using market statistical and coherent models. In addition, market share analysis and key trend analysis are the major success factors in the market report. The key research methodology used by DBMR research team is data triangulation which involves data mining, analysis of the impact of data variables on the market, and primary (industry expert) validation. Apart from this, data models include Vendor Positioning Grid, Market Time Line Analysis, Market Overview and Guide, Company Positioning Grid, Company Market Share Analysis, Standards of Measurement, Global vs Regional and Vendor Share Analysis. Please request analyst call in case of further inquiry.