The global COVID-19 pandemic has badly hit many economies around the globe. It has affected lives and businesses worldwide. Due to the worldwide lockdown, various sectors and industries are facing challenges during this pandemic, which has impacted badly in the PLC market as well. Various sectors such as oil gas and automotive have been down due to this pandemic has reduced the demand for PLC from these sectors. However, the demand for PLCs from industries such as pharmaceuticals will drive the market growth during this period as well.

MARKET OVERVIEW - GLOBAL PROGRAMMABLE LOGIC CONTROLLER (PLC) MARKET

A programmable logic controller (PLC) is an electronic device that is used for the control of manufacturing processes, such as assembly lines, robotic devices, or any activity that needs high reliability, ease of programming, and process fault diagnosis. It continuously monitors the state of input devices and makes decisions based upon a custom program to control the state of output devices. PLC are of various types that include integrated or compact PLC, modular PLC, small PLC, medium-sized PLC, and large PLCs. PLCs are designed to be extremely robust and can withstand extreme temperatures, humidity, vibration, and electrical noise. Increasing demand for PLC from the automotive industry will drive the PLC market growth. PLC are used in the automotive industry as relay replacement equipment. Besides, increasing adoption of automation systems in the automotive industry and the growth of the automotive industry will drive the market growth. Moreover, factors such as simple programming methods, ease of maintenance, and increasing developments in the manufacturing industry will further boost the market. North America is expected to have the largest share in the PLC market. This growth of the market in the region is attributed to the increasing industrial investment in the mining and oil gas sectors that is boosting the utilization of PLCs in the region. 

MARKET DRIVERS 

PLC manufacturers are increasingly relying on IoT technologies such as machine-to-machine communication, smart sensors, industrial cloud, and cybersecurity due to rising demand for increased control, secure connectivity, and improved performance. Additionally, PLC manufacturers have started to innovate and merge traditional PLC systems with modern and contemporary technologies in order to support improved features, cost-effectiveness, and interoperability. The expanded use of robots in the automobile manufacturing, electrical, and electronic industries is another significant growth indication for PLCs in the discrete-manufacturing sectors. As one of the main applications for PLCs, robots are anticipated to have a substantial positive impact on the market. For instance, according to IFR, the operational stock of industrial robots is expected to reach 3,788 (in thousand units) by 2021, from 2,731 (in thousand units) in 2019. The growing need to boost production and improve worker’s safety is driving the industry’s demand for automation equipment. The long-term need for automation is anticipated to rise as a result of the COVID-19 pandemic, particularly to address the labour scarcity and growing costs.

Get Free Sample Report for More Industry Insights: https://www.axiommrc.com/request-for-sample/11410-global-programmable-logic-controller-plc-market-report

MARKET OPPORTUNITIES

Players in the global programmable logic controller market have significant growth opportunities due to rising clean energy demand or rising renewable energy capacity. For instance, ABB delivered PLC-based solar plant automation solutions in India in March 2021, surpassing the cumulative 5GW milestone. Solar power plants can operate effectively due to ABB’s SCADA system technology, which enables operators to continuously monitor and evaluate power facilities. Moreover, Asia Pacific has shown rapid growth of the automotive industry which offers lucrative growth opportunities for players in the global programmable logic controller market. For instance, PLCs are used to provide a flexible, rugged, easily programmable controller to replace hard-wired relay logic systems in the automobile manufacturing industry which are more suitable for harsh environments.

MARKET RESTRAINTS

 Increased adoption of distributed control systems (DCS) is expected to hamper the market growth of programmable logic controllers (PLC). Moreover, growing challenges due to rising PLC price and a lack of skilled professionals to operate PLC is anticipated to hinder the market growth during the forecast period.

CUMULATIVE GROWTH ANALYSIS

The report provides an in-depth analysis of the global water treatments chemical market, market size, and compound annual growth rate (CAGR) for the forecast period of 2022-2028, considering 2021 as the base year. With the increasing demand for energy and ongoing developments in the renewable energy sector has led to the increasing demand for the market which is expected to witness growth at a CAGR at specific CAGR from 2021-2028. 

PROGRAMMABLE LOGIC CONTROLLER (PLC) MARKET SEGMENTAL OVERVIEW

The global water treatments chemical market comprises different market segments like type, solution, end users and geography. 

PROGRAMMABLE LOGIC CONTROLLER (PLC) MARKET BY TYPE 

By type, the Programmable Logic Controller (PLC) Market includes key segment of 

Based on type, the Programmable Logic Controller (PLC) Market is segmented into Integrated or Compact PLC, Modular PLC, Small PLC, Medium-sized PLC, and Large PLCs. Modular PLC is a rack-based system having individual power supply, processor, various IO modules, extension units, mounted on one or more racks whereas compact PLC are un-divided solid structures, generally non-expandable with a specific number of inputs, and outputs. Medium-sized PLC is one of the common PLCs used in most industries as they allows more modules to be plugged into it.

PROGRAMMABLE LOGIC CONTROLLER (PLC) MARKET BY SOLUTION

Based on application, the Programmable Logic Controller (PLC) Market is segmented into Hardware, Processor, Power Supply, Input/output (I/O), Software, Service, Training, Maintenance, and Consulting. In PLC hardware refers to the physical component that make up a PLC system such as the processor, the power supply, the input/output modules and a programming device whereas PLC software refers to the PLC’s operating system and an application program that are stored in the PLC’s memory. Moreover, PLC are divided into three types based on output namely Relay output, Transistor output, and Triac output PLC. The basic principles of PLC operation are that they are used for continuously monitoring the input values from sensors and produce the outputs for the operation of actuators based on the program and consist of three modules: CPU module, Power supply module and one or more I/O module.

COMPETITIVE LANDSCAPE ANALYSIS

The competitive landscape analysis of PROGRAMMABLE LOGIC CONTROLLER (PLC) MARKET is majorly focused on expanding the global growth of water-based coating with new product innovation, business expansion, and the increasing presence of a range of manufacturers operating in the coating market has led to the growing demand for the market. Moreover, some of the collaborations and partnerships in the recent past across the region have further fuelled the application of PLCs in the region’s marketplace. For instance, Shanghai Besought Software Co Ltd introduced a large programmable logic controller device in July 2021, which is a crucial part of industrial control systems. The company claimed that the introduction of the PLC product had created a breakthrough in a market that was previously dominated by companies from the United States, Japan, and the European Union

Request For Best Pricing :- https://www.axiommrc.com/buy_now/11410-global-programmable-logic-controller-plc-market-report

About Us:

Axiom Market Research Consulting™ is a full-service market research and data analytics company providing key market intelligence to global companies to take informed business decisions pertaining to their marketing strategy, investments, new product launches, market competition, consumer or end users, social media trends etc. Axiom Market Research Consulting™ offers market research services such as syndicated market research, custom market research, business consulting, and consumer/end user surveys. Under Business to Consumer (B2C) market research offerings, Axiom MRC assists its clients in finding quantitative information/preferences of its brands and services such as, awareness, usages, satisfaction, tracking, ethnicity etc. Axiom MRC offers data collection services through online surveys, social media, data processing and interpretation.Axiom MRC with its experienced team of research and data analysts, has delivered more than 5000+ Market Research Projects, 3800+ Data Analytics Projects, 1200+ Business Support Projects and has a 800+ Global Client Base. Axiom Market Research Consulting™ aims to become the preferred market research and data Analytics Company by providing key market intelligence solutions for client’s business growth.

Contact Us:

Axiom Market Research Consulting™

3 Germay Dr. Ste 4 - 4666

Wilmington DE 19804

U.S.:- + 1 (845) 875-9786

U.K.:- + 44 (0) 20 3286 9707

Email: [email protected]

Website: https://www.axiommrc.com/

Follow On

LinkedIn: https://www.linkedin.com/company/axiom-market-research-and-consulting/

Twitter: https://twitter.com/AxiommrcCom