Programmable Logic Controller Market 2019-2024 Manufacturers, Simulation, Industrial Computing, Growth Opportunities, Technology Trends and Forecast
Programmable Logic Controller Market grew at 3.7% CAGR over 2019-2024 where Automotive Sector to Hold Significant Share for the Future Demand of PLC. Also the North America Leads in Innovation and Demand Programmable Logic Controller Industry.
Dallas, United States – August 26, 2019 /MarketersMedia/ —
Market Overview
The programmable logic controller (PLC) market is anticipated to register a CAGR of 3.7% over the forecast period (2019 – 2024). The deployment of PLC systems enables the identification and rectification of errors and can initiate rapid responses even without human intervention. Hence, these automated PLC systems are estimated to assist in reducing the machine downtime from 20% to almost 4%.
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– The PLC market is strongly influnced by the industrial output and the investment funneled into the computers and software. These PLC systems have traditionally been the foundation of both process and discrete factory automation. The growing adoption of Industry 4.0 across the industrial verticals has augmented the PLC market.
– A major growth indicator for PLCs in the discrete-manufacturing sectors is the amplified deployment of robots across the automotive manufacturing, the electrical, and the electronics industries. With robots being a major end-user of PLCs, the market is expected to greatly benefit from the global robotics boom.
– Another major trend observed in the market is the adoption of integrated solutions/devices, such as the embedding of PLCs with industrial controls (such as HMIs or SCADA). These integrations have offered greater efficacy and visibility in factory operations, and have allowed workload on central controllers to be cut.
Scope of the Report
PLC is the primary computing system, which controls automated machines. The system also helps in detecting any errors or flaws and alerts the technician. PLC systems are also preferred over traditional systems, like relays and switch boxes, due to their compact sizes. Another advantage of PLCs is their multi-functionality (owing to their programmable nature that can be used for multiple operations depending on the application).
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Key Market Trends
Automotive to Hold Significant Share for the Future Demand
– PLC has been adopted at the manufacturing stage to handle the ever-growing demands of the automotive industry. It was initially used as a relay replacement equipment in the automotive industry.
– The demand for automobiles has been increasing steadily, The Center for Automotive Research (CAR) at the University of Duisberg-Essen has predicted that the global annual growth of cars is expected at 2.2%. Owing to such potential growth, better production facilities enabled with automation are needed, which is expected to fuel the growth of PLCs in the domain.
– The use of PLCs ensures high production and simplifies the complexity of the machinery being used. With technological advancements, PLCs can replace nearly 100 relays, making better space management and man management possible.
– With the advent of other technologies, such as machine vision, collaborative robots, artificial intelligence for driverless/autonomous cars, cognitive computing in IoT-connected cars, the PLC market in automotive is expected to grow further.
North America Leads in Innovation and Demand
– The United States is estimated to hold a major share in North America owing to rise in industrial investment in the mining and oil & gas sectors, which fuelled the utilization of PLCs, thereby propelling the market growth.
– In addition, capital spending on construction and housing increased in the country and is expected to rise further, due to the government’s focus on smart cities, which is, in turn, expected to boost the market growth over the forecast period.
– The formation of the ‘Advanced Manufacturing Partnership (AMP)’ is one such initiative undertaken to make industries, universities, and the federal governments invest in emerging technologies. This factor has helped the country to gain a competitive edge in the global economy.
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Competitive Landscape
The PLC market is highly competitive and consists of several major players. In terms of market share, few of the major players currently dominate the market. These major players with a prominent share in the market are focusing on expanding their customer base across foreign countries. These companies are leveraging on strategic collaborative initiatives to increase their market share and increase their profitability.
– April 2019 – Schneider Electric, announced the opening of its new office facility designed completely on an open office concept in Pune, Maharashtra. On the back of this expansion, the company aims to consolidate its leading position and revenues for its wide array of energy management products and solutions. This is an integrated facility of the company for all its business operations as well Design Engineering Center of ASCO Power Technologies, USA.
– Apr 2018 – Stäubli Robotics, one of the international players in robotics automation, and Schneider Electric has entered into a partnership by signing a long-term agreement to integrate customized Stäubli TS series, four-axis SCARA robots into Schneider Electric’s EcoStruxure Machine architecture and platform.
– February 2018 – Mitsubishi Electric Corporation has completed construction of an integrated-automation factory for the production of vacuum interrupters and circuit breakers at its Power Distribution Systems Center in Marugame, Japan. The new factory is expected to deploy Mitsubishi Electric’s e-Factory concept of integrated automation based on IoT technologies to achieve high efficiency, high productivity, and minimized cost.
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