Pune, India, Dec. 23, 2021 (GLOBE NEWSWIRE) -- The global programmable logic controller market size is expected to experience substantial growth during the forecast period. This growth is attributable to the increasing adoption of automation in several industrial applications and the growing focus on energy consumption that is likely to drive the demand for advanced programmable logic controller systems. This information is published by Fortune Business Insights in its upcoming report, titled, “Programmable Logic Controller Market size, share & industry analysis, By Type (Modular PLC, Compact PLC, Rack PLC), By Industry (Automotive, Chemical & Petrochemical, Paper & Pulp, Energy & Utilities, Food & Beverages, Oil & Gas, Others) and Regional Forecast 2021-2028.”
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The global pandemic, COVID-19, has resulted in several economies facing unprecedented loss. Owing to the lockdown announced by the government agencies globally, several manufacturing facilities have been at a standstill with limited operational activities. However, a collective effort from the government and the industries to bring the economy back is expected to boost the market growth during the forecast period.
Programmable logic controller is a type of system that aids in efficient monitoring of the state of input devices and further makes decisions to control the state of the output devices across industries. There are several advantages of adopting this system in industrial operations such as easy programing and rugged design to withstand high temperature, noise, and humidity.
What does the Report Include?
The Programmable Logic Controller Market report includes a detailed analysis of several factors such as the key drivers and restraints that will impact growth. Additionally, the report provides insights into the regional analysis that covers different regions, contributing to the growth of the market. It includes the competitive landscape that involves the leading companies and the adoption of strategies by them to introduce new products, announce partnerships, and collaboration that will further contribute to the market growth. Moreover, the research analyst has adopted several research methodologies such as PORTER’s Five Point Analysis to obtain information about the current trends and industry developments that will drive the market growth during the forecast period.
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DRIVING FACTORS
Increasing Adoption of Automation Solutions to Feed Market Growth
According to the report by the BBC News, it is estimated that around 20 million jobs will be turning towards automation by 2030. The increasing adoption of automation across end-user industries is likely to surge the demand for advanced programmable logic controller systems across the globe. Moreover, the growing focus on energy consumption is propelling the manufacturers to automate work processes that leads to increased productivity and lesser downtime. Therefore, these factors play a significant role in contributing to the global programmable logic controller market growth in the forthcoming years.
REGIONAL INSIGHTS
North America to Remain Dominant; High Adoption of Automation across End-User Industries to Propel Growth
Among all the regions, North America is expected to remain dominant and hold the highest position in the global programmable logic controller market during the forecast period. This dominance is attributable to the increasing adoption of automation services across several end-user industries to facilitate business processes in the region between 2021 and 2028.
Europe, on the other hand, is anticipated to hold the second position in the market backed by the rising pharmaceuticals, energy & utilities, and automotive industries that propel the demand for advanced programmable logic controller systems in the region.
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COMPETITIVE LANDSCAPE
Partnership between Prominent Companies to Brighten Their Market Positions
The global programmable logic controller market is experiencing a healthy competition between major companies that are striving to maintain a stronghold. These companies are partnering with other companies to develop advanced programmable logic controller systems. Furthermore, the adoption of inorganic and organic strategies by other key players to maintain their dominance is anticipated to favor the market growth in the forthcoming years.
Industry Development:
- March 2020 – ABB Ltd. announced its partnership with B&R Industrial Automation to launch programmable logic controller solutions for a fully integrated machine-centric robotics. The partnership further aims at offering complete software and hardware solutions for sensing & analytics, control, actuation, robotics, and electrification.
List of the Companies Profiled in the Global Market for Programmable Logic Controller:
- Rockwell Automation
- ABB Ltd.
- Omron Corporation
- Siemens AG
- Panasonic Corporation
- Toshiba Corporation
- Mitsubishi Electric Corporation
- Delta Electronics
- Schneider Electric SE
- Honeywell Corporation
- Beckhoff Automation
- Hitachi Ltd.
- General Electric Co.
- KEYENCE
- Fuji Electric
- Eaton Corporation
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