by The programmable logic controller (PLC) is a digital computer used for automation of various industrial processes such as controlling machines and processes in manufacturing facilities and buildings. A PLC consists of a microprocessor or a microcontroller with input/output (I/O) channels and program memory used to monitor sensors and send signals to control machines, valves and more on the plant floor. PLCs are designed to withstand operating shock and vibration in industrial environments while also providing long-term reliability. PLC is commonly used for assembly lines, controlling machines like printing press, elevators, packaging machinery etc. It provides timing and control for assembly processes with sensors for monitoring inputs and outputs for controlling the machines.
The global programmable logic controller market is estimated to be valued at US$ 12.89 billion in 2023 and is expected to exhibit a CAGR of 5.4% over the forecast period 2023 to 2030, as highlighted in a new report published by Coherent Market Insights.
Market Dynamics:
Wide range of industrial applications is driving the programmable logic controller market growth. As mentioned earlier, PLCs are widely used for automation across diverse industries such as automotive, oil & gas, food & beverage, pharmaceutical to control machinery and processes. The steady growth of these end use industries is fueling the demand for PLCs. Another major driver for the market is the growing need for cost-effective automation solutions in industries. PLC systems offers flexibility, reliability and cost benefits compared to general purpose computers and relay logic which is boosting their adoption. PLC helps in reducing downtime, improving product quality and optimizing production processes. Also, ongoing technological advancements in PLC systems such as cloud connectivity, integration of IoT technology and advanced programming platforms are expected to offer significant opportunities for market growth over the forecast period.
Segment Analysis
The programmable logic controller market can be segmented by product type into modular PLCs and compact PLCs. Among these, the modular PLCs segment dominates the market and accounts for over 60% market share. Modular PLCs offer enhanced functionality, flexibility and performance compared to compact PLCs due to their modular and scalable design. Modular PLCs are preferred for complex control applications and large automation systems across industries.
PEST Analysis
Political: Governments across regions are supporting industry automation to improve productivity and competitiveness of domestic manufacturing industries. This is promoting PLC adoption.
Economic: Growing global investments in factory and process automation from end-use industries is fueling market demand. Developing economies are undergoing industrialization which is boosting automation.
Social: Emphasis on workplace safety and efficiency. Demand for flexible automation to enable mass customization of products.
Technological: Advancements in diverse industrial communication technologies, which PLCs can leverage for networked and distributed control. Expanding use of artificial intelligence and IoT in industrial automation.
Key Takeaways
Global Programmable Logic Controller Market Demand is expected to witness high growth over the forecast period of 2023 to 2030. The global programmable logic controller market is estimated to be valued at US$ 12.89 billion in 2023 and is expected to exhibit a CAGR of 5.4% over the forecast period 2023 to 2030.
Regional analysis related content comprises: Asia Pacific accounts for around 40% of the global PLC market share currently. This is mainly attributed to heavy investments by China and India to upgrade their domestic manufacturing capabilities through industrial automation. China, being a manufacturing hub, is a major consumer of PLCs in the region.
Key players related content comprises: Key players operating in the programmable logic controller market are ABB Ltd, Toshiba International Corporation, Hitachi Ltd, Emerson Electric Company, Robert Bosch GmbH, Panasonic Corporation, Omron Corporation, Honeywell International Inc., Siemens AG, Rockwell Automation, Schneider Electric SE, and Mitsubishi Electric Corporation. Key players like Mitsubishi Electric Corporation and Omron Corporation have a strong market presence in Asia Pacific.
*Note:
1. Source: Coherent Market Insights, Public sources, Desk research
2. We have leveraged AI tools to mine information and compile it
