Programmable Logic Controller (PLC) Market size to grow by USD 2.70 Bn; Driven by increasing demand for compact automation solutions

NEW YORK, Nov. 22, 2022 /PRNewswire/ -- The programmable logic controller (PLC) market size is expected to grow by USD 2.70 billion, accelerating at a CAGR of 3.51% between 2021 and 2026. The report provides a detailed analysis of the market size, YOY growth rates, factors impacting market size, vendor landscape, product launches, and key revenue-generating segments and regions in the market. Understand how the purchase of the report can have a direct impact on your revenue. Download a Free PDF Report Sample

Key Growth Driver

The market is driven by the increasing demand for compact automation solutions. Most large industrial manufacturing companies that have access to vast capital have automated their manufacturing processes completely. However, moving to automated processes is challenging for small and medium-sized enterprises (SMEs) due to budget constraints. Hence, most SMEs look for small form factors that can provide the same functionalities and features of large devices while consuming lesser power. The availability of PLCs enables SMEs to utilize control-level automation at a low cost without compromising productivity. Some vendors have developed PLCs that can stack multiple PLCs and handle a large number of I/O points with a maximum number of analog I/O. Vendors are also swiftly changing the features of their products based on end-user requirements. All these factors enable a seamless transition from traditional automation to Industry 4.0 in the manufacturing industry. Therefore, the increasing demand for compact automation solutions is expected to drive the growth of the global PLC market during the forecast period.

Vendor Landscape

The global PLC market is dominated by well-established international vendors such as Mitsubishi Electric, OMRON, Rockwell Automation, Schneider Electric, and Siemens. These players have a dominating share despite numerous competitors present in the PLC market. Rockwell Automation is specialized in the discrete industry, while Emerson Electric is specialized in the process industry. Vendors are focusing on new product development and customizing PLCs to cater to end-user requirements. Some of the vendors are also looking for new growth opportunities by offering PLCs for new applications. For instance, ABB offers AC500 PLC for high-precision control of photovoltaic (PV), concentrated photovoltaic (CPV), and concentrating solar power (CSP). With changing end-user requirements, vendors are also addressing cyber-security issues by offering cyber-security solutions. Technavio identifies the following as major vendors in the market.

ABB Ltd.

Beckhoff Automation GmbH and Co. KG

Beijer Electronics Group AB

Eaton Corp. PLC

Emerson Electric Co.

Festo SE and Co. KG

Fuji Electric Co. Ltd.

IDEC Corp.

Keyence Corp.

Lenze SE

Mitsubishi Electric Corp.

OMRON Corp.

Panasonic Corp.

Parker Hannifin Corp.

Robert Bosch GmbH

Rockwell Automation Inc.

Schneider Electric SE

Siemens AG

Toshiba Corp.

Infineon Technologies AG

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Key Revenue-generating Segments

Programmable Logic Controller (PLC) Market Product Outlook (Revenue, USD bn, 2021-2026)

Unitary - size and forecast 2021-2026

Modular - size and forecast 2021-2026

Rackmount - size and forecast 2021-2026

By product, the market growth in the unitary segment will be significant during the forecast period. Unitary PLCs are the simplest types of PLCs, which are used for simple processes. In a unitary PLC, there are a set of input/output (I/O) points with all components, such as power systems and CPU, integrated together in a single housing or box. Unitary PLCs can be directly attached to the device or application being used. They are the most commonly used PLCs owing to their simple design and low cost, which made this segment the largest contributor to the global PLC market.

Programmable Logic Controller (PLC) Market End-user Outlook (Revenue, USD bn, 2021-2026)

Process industry - size and forecast 2021-2026

Discrete industry - size and forecast 2021-2026

Building automation - size and forecast 2021-2026

Process industries are the prime end-users in the market. Advances in PLCs and integration of communication capabilities and HMI ensure a higher efficiency during operations and help in meeting stringent regulatory norms. The increasing investments in renewable power generation are expected to provide high growth opportunities for vendors operating in the segment.

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Programmable Logic Controller (PLC) Market Scope

Report Coverage

Details

Page number

120

Base year

2021

Forecast period

2022-2026

Growth momentum & CAGR

Accelerate at a CAGR of 3.51%

Market growth 2022-2026

USD 2.70 billion

Market structure

Fragmented

YoY growth (%)

2.76

Regional analysis

APAC, North America, Europe, Middle East and Africa, and South America

Performing market contribution

APAC at 33%

Key consumer countries

US, China, Japan, Germany, and UK

Competitive landscape

Leading companies, competitive strategies, consumer engagement scope

Companies profiled

ABB Ltd., Beckhoff Automation GmbH and Co. KG, Beijer Electronics Group AB, Eaton Corp. PLC, Emerson Electric Co., Festo SE and Co. KG, Fuji Electric Co. Ltd., IDEC Corp., Keyence Corp., Lenze SE, Mitsubishi Electric Corp., OMRON Corp., Panasonic Corp., Parker Hannifin Corp., Robert Bosch GmbH, Rockwell Automation Inc., Schneider Electric SE, Siemens AG, Toshiba Corp., and Infineon Technologies AG

Market Dynamics

Parent market analysis, Market growth inducers and obstacles, Fast-growing and slow-growing segment analysis, COVID-19 impact and future consumer dynamics, and market condition analysis for the forecast period.

Customization purview

If our report has not included the data that you are looking for, you can reach out to our analysts and get segments customized.

Table of contents:

1 Executive Summary

1.1 Market overview

2 Market Landscape

2.1 Market ecosystem

3 Market Sizing

3.1 Market definition

3.2 Market segment analysis

3.3 Market size 2021

3.4 Market outlook: Forecast for 2021-2026

4 Five Forces Analysis

4.1 Five forces summary

4.2 Bargaining power of buyers

4.3 Bargaining power of suppliers

4.4 Threat of new entrants

4.5 Threat of substitutes

4.6 Threat of rivalry

4.7 Market condition

5 Market Segmentation by Product

5.1 Market segments

5.2 Comparison by Product

5.3 Unitary - Market size and forecast 2021-2026

5.4 Modular - Market size and forecast 2021-2026

5.5 Rackmount - Market size and forecast 2021-2026

5.6 Market opportunity by Product

6 Market Segmentation by End-user

6.1 Market segments

6.2 Comparison by End-user

6.3 Process industry - Market size and forecast 2021-2026

6.4 Discrete industry - Market size and forecast 2021-2026

6.5 Building automation - Market size and forecast 2021-2026

6.6 Market opportunity by End-user

7 Customer Landscape

7.1 Customer landscape overview

8 Geographic Landscape

8.1 Geographic segmentation

8.2 Geographic comparison

8.3 APAC - Market size and forecast 2021-2026

8.4 North America - Market size and forecast 2021-2026

8.5 Europe - Market size and forecast 2021-2026

8.6 Middle East and Africa - Market size and forecast 2021-2026

8.7 South America - Market size and forecast 2021-2026

8.8 US - Market size and forecast 2021-2026

8.9 China - Market size and forecast 2021-2026

8.10 Japan - Market size and forecast 2021-2026

8.11 Germany - Market size and forecast 2021-2026

8.12 UK - Market size and forecast 2021-2026

8.13 Market opportunity by geography

9 Drivers, Challenges, and Trends

9.1 Market drivers

9.2 Market challenges

9.3 Impact of drivers and challenges

9.4 Market trends

10 Vendor Landscape

10.1 Overview

10.2 Vendor landscape

10.3 Landscape disruption

10.4 Industry risks

11 Vendor Analysis

11.1 Vendors covered

11.2 Market positioning of vendors

11.3 ABB Ltd.

11.4 Emerson Electric Co.

11.5 Mitsubishi Electric Corp.

11.6 OMRON Corp.

11.7 Panasonic Corp.

11.8 Parker Hannifin Corp.

11.9 Rockwell Automation Inc.

11.10 Schneider Electric SE

11.11 Siemens AG

11.12 Toshiba Corp.

12 Appendix

12.1 Scope of the report

12.2 Inclusions and exclusions checklist

12.3 Currency conversion rates for US$

12.4 Research methodology

12.5 List of abbreviations

About Technavio

Technavio is a leading global technology research and advisory company. Their research and analysis focus on emerging market trends and provides actionable insights to help businesses identify market opportunities and develop effective strategies to optimize their market positions.

With over 500 specialized analysts, Technavio's report library consists of more than 17,000 reports and counting, covering 800 technologies, spanning across 50 countries. Their client base consists of enterprises of all sizes, including more than 100 Fortune 500 companies. This growing client base relies on Technavio's comprehensive coverage, extensive research, and actionable market insights to identify opportunities in existing and potential markets and assess their competitive positions within changing market scenarios.

Contacts

Technavio ResearchJesse MaidaMedia & Marketing ExecutiveUS: +1 844 364 1100UK: +44 203 893 3200Email: [email protected]: www.technavio.com/

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