The global micro PLC market at a CAGR of almost 6% during the forecast period

New York, Nov. 18, 2019 (GLOBE NEWSWIRE) -- Reportlinker.com announces the release of the report "Micro Programmable Logic Controller (PLC) Market by Product, End-users, and Geography - Forecast and Analysis 2020-2024" - https://www.reportlinker.com/p05827594/?utm_source=GNW
Our study also finds the sales of micro PLC in APAC, Europe, MEA, North America, and South America. In 2019, the automotive industry segment had a significant market share, and this trend is expected to continue over the forecast period. Factors such as high control over the manufacturing process for the effective functioning of the process parameters and devices will play a significant role in the automotive industry segment to maintain its market position. Also, our global micro PLC market report looks at factors such as increasing demand for compact automation solutions, rising demand for micro PLCs in APAC, and growing investment in smart factories. However, growing cybersecurity concerns, slowdown in global automotive industry, and availability of substitutes may hamper the growth of the micro PLC industry over the forecast period.

Global Micro Programmable Logic Controller (PLC) Market: Overview
Growing investment in smart factories
Smart factories involve the interlinking of instruments such as sensors and actuators, industrial machinery, and automation solutions over a communication network. This enables manufacturers to capture real-time information and remotely control machinery. Owing to such benefits, manufacturers across the world are increasingly adopting smart factories to improve efficiency and productivity. The rising adoption of smart factories will lead to the expansion of the global micro PLC market at a CAGR of almost 6% during the forecast period.
Increasing focus on expanding capabilities of micro PLCs
Micro PLCs are rapidly becoming an indispensable solution for controlling standalone machinery in the process and discrete industries. Benefits such as programming flexibility, ease of use, communication capability within a compact structure, and lower price compared with traditional PLCs are the major factors for the increasing adoption of micro PLCs. Recent advances in product design and features have increased their capabilities and applications in the industrial end-user segments. With the increasing technological advances, vendors have developed micro PLCs with high-speed communication capabilities to control large machines while featuring larger program memory and with capabilities to support multiple communication. This development is expected to have a positive impact on the overall market growth.

Competitive Landscape
With the presence of several major players, the global micro PLC market is fragmented. This robust vendor analysis is designed to help clients improve their market position, and in line with this, this report provides a detailed analysis of several leading micro PLC manufacturers, that include Bosch Rexroth AG, Hitachi Industrial Equipment Systems Co. Ltd., IDEC Corp., Mitsubishi Electric Corp., OMRON Corp., Rockwell Automation Inc., Schneider Electric SE, Siemens AG, Toshiba International Corp., and YASKAWA Electric Corp.
Also, the micro PLC market analysis report includes information on upcoming trends and challenges that will influence market growth. This is to help companies strategize and leverage on all forthcoming growth opportunities.
Read the full report: https://www.reportlinker.com/p05827594/?utm_source=GNW

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