According to the latest report by IMARC Group, titled “Programmable Logic Controller (PLC) Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2023-2028,” the global programmable logic controller (PLC) market size reached US$ 14.6 Billion in 2022. A programmable logic controller (PLC) is a specialized digital computer used in industrial automation applications. It is designed to control and monitor machinery and processes in manufacturing plants, power plants, and other industrial settings. Programmable logic controllers are versatile devices capable of performing tasks such as sequential control, logic operations, timing, counting, and communication. One of the key advantages of programmable logic controllers is their programmability, allowing users to create customized control logic using programming languages, such as ladder logic, functional block diagrams, or structured text. This flexibility enables programmable logic controllers to adapt to different industrial applications and change their behavior without physical modifications. Programmable logic controllers consist of a central processing unit (CPU), input/output (I/O) modules, memory, and programming software. The CPU processes the program instructions and coordinates the I/O modules to interact with sensors, actuators, and other field devices. The memory stores the program logic and data required for operation. Programmable logic controllers provide reliability, ruggedness, and real-time operation, making them well-suited for harsh industrial environments. They offer features like fault detection, self-diagnostics, and redundancy options for enhanced system availability.
Global Programmable Logic Controller (PLC) Market Trends:
The rising need for efficient and reliable automation solutions across industries represents a significant factor driving the market growth across the globe. This, coupled with better productivity, reduced downtime, and improved operational efficiency, is acting as a major growth-inducing factor. In line with this, the increasing use of programmable logic controllers in industrial automation processes across various sectors, such as manufacturing, energy, automotive, and food processing, is contributing to the growth of the market. The market is also driven by the widespread adoption of the Industry 4.0 concepts and increasing integration with IoT technologies, thereby enabling seamless connectivity, data exchange, and remote monitoring. This integration allows for advanced analytics, predictive maintenance, and real-time decision-making, which is further boosting the demand for PLCs. Apart from this, the increasing demand for energy-efficient solutions in industries owing to rising environmental concerns and the rising need for energy conservation is facilitating the growth of the market. In addition to this, the safety and compliance regulations, the expansion of infrastructure projects, such as smart cities, transportation networks, and renewable energy installations, and ongoing technological advancements in PLCs, such as improved processing power, enhanced networking capabilities, and integration with other automation technologies, are some of the other factors creating a positive outlook for the market across the globe. Looking forward, the market value is projected to reach US$ 20.2 Billion by 2028, expanding at a CAGR of 5.38% during 2023-2028.
- Based on type, the market has been classified into hardware and software, and services. Currently, hardware holds the largest market share worldwide.
- On the basis of the end-use industry, the market has been segregated into automotive, energy and utilities, chemical and petrochemical, oil and gas, pulp and paper, pharmaceutical, water and wastewater treatment, food, tobacco and beverage, and others.
- On a geographical front, the market has been segmented into Asia Pacific, North America, Europe, Middle East and Africa, and Latin America. Presently, Asia Pacific is dominating the market share across the world.
- The competitive landscape of the market has also been examined with some of the key players being ABB Ltd., Delta Electronics Inc., Eaton Corporation plc, Emerson Electric Co., Fuji Electric Co. Ltd., Hitachi Ltd., Honeywell International Inc., Mitsubishi Electric Corporation, OMRON Corporation, Panasonic Holdings Corporation, Robert Bosch GmbH, Rockwell Automation Inc., Schneider Electric SE, Siemens AG, and Toshiba Corporation.
|Base Year of the Analysis
||Type, End Use Industry, Region
|| Asia Pacific, Europe, North America, Latin America, Middle East and Africa
||United States, Canada, Germany, France, United Kingdom, Italy, Spain, Russia, China, Japan, India, South Korea, Australia, Indonesia, Brazil, Mexico
||ABB Ltd., Delta Electronics Inc., Eaton Corporation plc, Emerson Electric Co., Fuji Electric Co. Ltd., Hitachi Ltd., Honeywell International Inc., Mitsubishi Electric Corporation, OMRON Corporation, Panasonic Holdings Corporation, Robert Bosch GmbH, Rockwell Automation Inc., Schneider Electric SE, Siemens AG and Toshiba Corporation
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