Programmable Logic Controller (PLC) Market Future Opportunities and Technological Innovations to 2024
Date: 2019-01-30   Author: Ronak Bora  Category: #market

Programmable Logic Controller (PLC) Market Future Opportunities and Technological Innovations to 2024

Programmable Logic Controller (PLC) Market size is expected to gain momentum during the period of seven years owing to wide applications in industries including aerospace & defense, automotive, food & beverage, pharmaceuticals, petroleum & chemicals, textile, printing, and plastics. These components have exceptional functional features such as ease of programming, sequential control, ease of usage, and reliable performance & process control capabilities.

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The heavy industrial manufacturing sector is increasingly utilizing intelligent machine tools to enhance productivity. In light of industrial revolution, intelligent machining tools are using smart devices and components such as PLCs and smart sensors to cater to the requirements of industries such as food & beverage, petrochemical, and automobile. These components control a wide array of applications ranging from lighting functions to controlling environmental conditions such as in chemical industries. Increasing automation in industries is expected to propel the PLC market growth over the next seven years.

The PLC market is characterized by the size of components including integrated or compact, modular, small, large, and mid-sized. The integrated/compact PLC market is expanding rapidly owing to the increasing focus on the miniaturization of electronic products and machinery. The rapidly growing trend of miniaturization of electronics has helped in the penetration of integrated or compact components across industries, particularly the consumer electronics industry, where product design plays a vital role.

The PLC market growth is expected to accelerate owing to the increasing demand from the oil & gas industry. These components address the challenges regarding monitoring leaks and spillage in industries and during the transportation of oil & gas. Furthermore, these types of industries are spread over vast stretches of land and PLC helps in coordinating the activities performed in different segments of the facility.

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The PLC market is characterized by the demand from application industries including automotive, oil & gas, pharmaceutical & chemical, food & beverage, and energy & power. The demand for these components from the automobile sector is growing rapidly owing to the increasing automation in the manufacturing industries. The automobile manufacturers are focusing on severe demand influx and are finding it difficult to cater to the requirements with increasing turn-around time hampering their businesses.

China PLC market is expected to grow rapidly over the forecast time span owing to the increasing focus of industries in the region on automation. Recovering economy and increasing government stimulus toward the automation in industries are propelling the increasing demand for these components in China. Increasing electronics manufacturing in the Asia Pacific region is expected to positively impact the PLC market growth in China. The manufacturers in the country own intellectual property rights to gain competitive advantage. This has enabled the companies to develop customized products for the customers.

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Prominent vendors in the PLC market include Bosch Rexroth, ABB, Eaton, Fuji Electric, KEYENCE, Koyo Electronics, IDEC, Panasonic, Yokogawa, Toshiba, Mitsubishi Electric, Rockwell Automation, OMRON, Schneider Electric, and Siemens.

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About Author


Ronak Bora

Ronak Bora

A graduate in Electronics Engineering, Ronak writes for AlgosOnline and carries a rich experience in digital marketing, exploring how the online world works from a technical and marketing perspective. His other areas of interest include reading, music, and sport.

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