The latest research study “PLC Market Share 2023: Global Industry Trends, Size, Growth, Opportunity and Forecast 2028” by IMARC Group, finds that the global programmable logic controller (PLC) market size reached US$ 14.6 Billion in 2022. Looking forward, IMARC Group expects the market to reach US$ 20.2 Billion by 2028, exhibiting a growth rate (CAGR) of 5.38% during 2023-2028.
A programmable logic controller (PLC) is a specialized electronic device that is employed in industrial automation processes to control machinery and various manufacturing operations. It executes predefined logic to manage and coordinate tasks, such as monitoring sensors, regulating machinery, and ensuring the seamless operation of manufacturing processes. It can be programmed to perform a wide range of tasks without the need for manual intervention and assists in enhancing efficiency and precision in industries. As it benefits in offering enhanced flexibility, reliability, and adaptability, the demand for PLCs is increasing across the globe.
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Programmable Logic Controller (PLC) Market Trends and Drivers:
At present, the rising adoption of automation across numerous industries worldwide represents one of the primary factors strengthening the market growth. Apart from this, the increasing employment of PLCs among businesses to improve productivity, reduce operational costs, and ensure consistent product quality is bolstering the growth of the market. Moreover, the integration of Industry 4.0 concepts, such as the Industrial Internet of Things (IIoT) and smart manufacturing, for more interconnected production systems is providing a lucrative growth opportunity to industry players. In line with this, the increasing adoption of PLCs, as they facilitate data-driven decision-making and predictive maintenance, is supporting the growth of the market. Besides this, the rising demand for PLCs, as they optimize energy usage and reduce waste, is contributing to the growth of the market.
Competitive Landscape:
The competitive landscape of the market has been studied in the report with the detailed profiles of the key players operating in the market.
- ABB Ltd.
- Delta Electronics Inc.
- Eaton Corporation plc
- Emerson Electric Co.
- Fuji Electric Co. Ltd.
- Hitachi Ltd.
- Honeywell International Inc.
- Mitsubishi Electric Corporation
- OMRON Corporation
- Panasonic Holdings Corporation
- Robert Bosch GmbH
- Rockwell Automation Inc.
- Schneider Electric SE
- Siemens AG and Toshiba Corporation.
The report has segmented the market on the basis of type and end use industry.
Breakup by Type:
- Hardware and Software
- Large PLC
- Nano PLC
- Small PLC
- Medium PLC
- Others
- Services
Breakup by End Use Industry:
- Automotive
- Energy and Utilities
- Chemical and Petrochemical
- Oil and Gas
- Pulp and Paper
- Pharmaceutical
- Water and Wastewater Treatment
- Food, Tobacco and Beverage
- Others
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Breakup by Region:
- North America: (United States, Canada)
- Asia Pacific: (China, Japan, India, South Korea, Australia, Indonesia, Others)
- Europe: (Germany, France, United Kingdom, Italy, Spain, Russia, Others)
- Latin America: (Brazil, Mexico, Others)
- Middle East and Africa
Key highlights of the report:
- Market Performance
- Market Outlook
- Porter’s Five Forces Analysis
- Market Drivers and Success Factors
- SWOT Analysis
- Value Chain
- Comprehensive Mapping of the Competitive Landscape
If you need specific information that is not currently within the scope of the report, we can provide it to you as a part of the customization.
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