Global Programmable Logic Controller Market Is Estimated To Witness High Growth Owing To Growing Industrial Automation

 

The global Programmable Logic Controller (PLC) market is estimated to be valued at US$ 11.6 billion in 2021 and is expected to exhibit a CAGR of 5.4% over the forecast period of 2021 to 2030, as highlighted in a new report published by Coherent Market Insights.

A) Market Overview:

Programmable Logic Controllers (PLCs) are digital computers used to automate various industrial processes. They are used to control machinery and equipment on factory assembly lines, including robotic devices, motors, pumps, and other automated systems. PLCs offer numerous advantages such as high-speed processing, easy programming, reduced labor costs, enhanced productivity, improved accuracy, and increased product quality. With increasing automation across industries, the demand for PLCs is expected to witness significant growth.

B) Market key trends:

One key trend in the global Programmable Logic Controller market is the integration of IoT (Internet of Things) technology with PLCs. IoT integration enables real-time monitoring and control of industrial processes using cloud-based platforms. This integration allows operators to remotely monitor equipment performance, detect faults or malfunctions, optimize energy consumption, and improve overall operational efficiency. For example, Siemens AG offers the SIMATIC S7-1500 PLC range, which integrates IoT technology for advanced connectivity and data analytics.

C) PEST Analysis:

- Political: Governments worldwide are focusing on promoting industrial automation to improve productivity and reduce costs. This creates favorable regulatory environments for the adoption of PLCs.

- Economic: Automation using PLCs helps industries achieve cost savings by reducing labor costs, improving energy efficiency, and minimizing production downtime.

- Social: The growing adoption of PLCs helps enhance worker safety by replacing manual and hazardous tasks with automated systems.

- Technological: Technological advancements such as IoT integration, cloud-based platforms, and advanced analytics are driving the growth of the PLC market.

D) Key Takeaways:

- The global Programmable Logic Controller Market is expected to witness high growth, exhibiting a CAGR of 5.4% over the forecast period, due to increasing industrial automation and the need for enhanced operational efficiency.

- In terms of regional analysis, Asia Pacific is expected to be the fastest-growing and dominating region in the PLC market. This can be attributed to the rapid industrialization in countries like China, India, and South Korea.

- Key players operating in the global Programmable Logic Controller market are ABB Ltd, Toshiba International Corporation, Hitachi Ltd, Emerson Electric Company, Robert Bosch GmbH, Panasonic Corporation, Omron Corporation, Honeywell International Inc., Siemens AG, Rockwell Automation, Schneider Electric SE, and Mitsubishi Electric Corporation. These players focus on product innovation, strategic partnerships, and mergers and acquisitions to gain a competitive edge in the market.

In conclusion, the global Programmable Logic Controller market is expected to witness substantial growth due to the increasing demand for industrial automation and the benefits offered by PLCs. With advancements in technology and the integration of IoT, PLCs are becoming more efficient and capable of optimizing industrial processes. The Asia Pacific region is expected to lead the market growth, driven by rapid industrialization. Key players in the market are actively engaged in innovation and partnerships to stay competitive in this thriving industry.