Apr 28, 2022, 01:53 EST
Shibuya-ku, Tokyo, Japan, Japan, Apr 28, 2022, 01:53 /Comserve / -- The global PLC market by revenue is expected to grow at a CAGR of over 5% during the period 2022–2031.
The global PLC market, which is concentrated in five countries – the US, Japan, China, Germany, and Canada – constitutes over half of the global PLC market size, accounting for 48% of the global sales in 2019. There has been a high degree of correlation observed with the extent of industrialization, availability, and investments in the public and private infrastructure and associated private and government spending on automation, constituting a major boost to the demand for PLCs. Further, trade barriers, availability of automation technology, service providers, and implementation models for infrastructural programs determine the extent of demand for PLCs in various geographies. The rise of Augmented Reality and immersive experiences has started to change the interaction with machines and systems slowly, which is likely to increase the scope for implementation of PLCs. Further, PLC-based PACs are likely to gain an edge over conventional types, especially in large-scale applications that warrant a high degree of automation.
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The impact of COVID-19 has greatly affected global manufacturing and industrial outlook. The momentum for new orders and the expansion of manufacturing capabilities have declined across the globe in terms of production and stimulation. Stringent government policies and regulations from the local and national governments have restricted the movement of supply-side, production facilities, and finished goods. Such situations have become highly challenging for OEM and PLC vendors.
The following factors are likely to contribute to the growth of the PLC market during the forecast period:
• Growing Use in Augmented Reality Technology
• Increasing Prominence of PLC-based PAC
• Smart and AI-enabled Homes demanding PLC Implementation
The study considers the present scenario of the PLC market and its market dynamics for the period 2022−2031. It covers a detailed overview of several market growth enablers, restraints, and trends. The report offers both the demand and supply aspect of the market. It profiles and examines leading companies and other prominent ones operating in the market.
GLOBAL PLC MARKET SEGMENTATION
The global PLC market research report includes a detailed segmentation by type, end-users, and geography. Modular PLCs are employed in medium to large-scale industries. Increased requirements for automation solutions in several industries, especially in manufacturing and other varied applications among home and building automation end-users, are the major growth boosters for the segment.Rackmount PLCs are mostly finding applications in the manufacturing industry as they are capable of functioning in the extreme industrial environment. They are mainly used in mining and oil industries, and automation systems, where there is a high level of complexity involved. The rackmount segment continues to witness growth on account of the growing need for data management and processing and increased facelift of the industrial sector due to technology and modernization.
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A high level of automation technology and product manufacturing is involved in the automobile manufacturing industry, which is increasing the potential of PLC applications. The chemical industry installs PLCs for real-time implementation of load management processes. The chemical and petrochemical industry requires inspections frequently as there are high possibilities of errors at measuring and various other stages. Therefore, automation technology makes the process easy and straightforward, thereby increasing reliability and decreasing the chances of human errors.
In the food industry, PLCs are employed as part of automation in the production line. They have not only transformed the way assembly lines are controlled or sequenced but also made the manufacturing process more efficient. The APAC region will account for one-third of the market with a major demand expected to come from China, Japan, South, and Korea. As these regions are witnessing high automation in the F&B industry, increased demand for PLC in processed and packaged food companies is likely to underpin the market.
The dynamic nature of business environment in the current global economy is raising the need amongst business professionals to update themselves with current situations in the market. To cater such needs, Shibuya Data Count provides market research reports to various business professionals across different industry verticals, such as healthcare & pharmaceutical, IT & telecom, chemicals and advanced materials, consumer goods & food, energy & power, manufacturing & construction, industrial automation & equipment and agriculture & allied activities amongst others.
For more information, please contact:Lauren Brown
Shibuya Data Count
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