The market for Programmable Logic Controllers (PLCs) is expected to develop at a 5.5% annual rate during the forecast period, from 12,585.0 US$ Mn in 2022 to 20,350.7 US$ Mn in 2033. The increased use of robots in the electrical, electronics, and automotive production sectors is a significant growth indication for PLCs in the discrete manufacturing sectors.
An industrial computer control system known as a programmable logic controller (PLC) keeps an eye on the condition of input devices all the time and uses customized software to make choices that regulate the state of output devices. PLCs are becoming a necessary tool for automating production operations. Numerous industries, such as the automotive, steel, energy, and chemical sectors, employ PLCs. A PLC is an electronic device used in industrial control systems that keeps an eye on, regulates and oversees electricity, manufacturing processes, and building systems.
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Regional Scope
- North America
- Europe
- APAC
- South America
- Middle East
- Africa
Key Company
Siemens, Mitsubishi Electric, Emerson (General Electric), Hitachi, Bosch Rexroth, Schneider Electric, Eaton, Rockwell Automation, B&R (ABB), Beckhoff, Controllino, Delta Electronics, Entertron Industries, Fatek, Festo, Fuji Electric, General Industrial Controls (GIC), Honeywell, Idec Corporation, IFM Electronic, Keyence, Kinco, Automation Direct (Koyo), LS Electric, Omron, Panasonic, Phoenix Contact, RS Automation, RS Enterprises, Toshiba, Unitronics, Velocio, Wago, Wecon Technology, Yokagawa, Others,
Regional Insights
The North American segment is expected to have a total absolute dollar potential of USD 1800.9 million between 2022 and 2033. The North America section is predicted to grow at a CAGR of 5.9% over the forecast period. The Europe segment is expected to have a total absolute dollar potential of USD 2603.2 million between 2022 and 2033. The Europe sector is estimated to grow at a CAGR of 5.0% over the forecast period.
The Asia Pacific segment is expected to have a total absolute dollar potential of USD 2968.60 million between 2022 and 2033. The Asia Pacific sector is estimated to grow at a CAGR of 8.5% over the forecast period. The MEA segment is expected to have a total absolute dollar potential of USD 230.5 million between 2022 and 2033. The MEA segment is predicted to grow at a CAGR of 3.3% over the projection period.
Market Dynamics
The desire for automation across a range of sectors is one of the reasons driving the Programmable Logic Controller Market (PLC Market). Automated systems reduce the need for human intervention, improve process efficiency, and maximize resource use. PLC systems are frequently used in businesses to manage assembly lines, robotic devices, and industrial processes, among other things. PLC systems may reduce machine downtime and increase industrial productivity by swiftly identifying and correcting problems and initiating rapid reactions without the need for human interaction. The growing need for mass customization across sectors is another factor propelling the PLC market.
The need for customized goods has led to increasingly intricate and sophisticated production processes that necessitate regular changes. End customers are adopting and investing in more flexible solutions, such as PC-based and cloud-based controllers, instead of PLCs due to this need for customization. Because of their excellent control stability, scalability, and ease of programming, they continue to be a popular option.
Trend and Opportunity
There are a number of trends and opportunities in the Programmable Logic Controller (PLC) market that will likely influence its growth in the years to come. The growing use of Industry 4.0 technologies, such cloud computing, artificial intelligence (AI), and the Internet of Things (IoT), is one of the key industry trends. It is anticipated that these technologies will improve PLC systems’ capabilities and allow them to provide more sophisticated features including real-time data processing, remote monitoring, and predictive maintenance.
The growing use of wireless PLC systems is another development in the industry. Compared to conventional wired systems, these systems provide a number of benefits, including as less expensive installation, more flexibility, and remote system monitoring and control. It is anticipated that industries including oil and gas, power production, and water and wastewater treatment would use more wireless PLC systems.
The industry is also seeing a rise in hybrid PLC systems, which fuse the characteristics of PC-based controllers with conventional PLCs. Because of the increased capability and flexibility that hybrid systems provide, end users may create increasingly sophisticated control systems and applications. It is anticipated that sectors including food and beverage, automotive, and pharmaceuticals would use hybrid PLC systems more frequently. There should be a lot of room for expansion in the industry due to the growing need for cloud-based PLC systems. A few advantages of cloud-based PLC systems are reduced maintenance costs, real-time data processing, and remote access.
It is anticipated that cloud-based PLC systems will become more common in sectors including retail, logistics, and transportation. Open-source PLC systems, which provide end users with more freedom and customization possibilities, are also making an appearance in the market. It is anticipated that open-source PLC systems will become more common in sectors including robotics, aircraft, and military. The PLC market is anticipated to rise as a result of the growing usage of edge computing. By processing data closer to the source, edge computing lowers latency and facilitates quicker decision-making. It is anticipated that PLC systems with edge computing capabilities would be used in the industrial, energy, and utility sectors.
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