The global Programmable Logic Controller Market is estimated to be valued at US$ 12.89 Bn 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 Overview:
A programmable logic controller (PLC) is a digital computer used for automation of industrial processes. PLCs are rugged, reliable in harsh environments such as temperatures, moisture, vibration and shock. They are less complex and more reliable than general-purpose PC-based controllers for tasks that require high reliability such as industrial processes.
Market key trends:
The increasing adoption of PLCs in industrial automation processes due to their advantages such as reliability, flexibility, and ease of programming over general-purpose computers is a major trend driving the global programmable logic controller market growth. PLCs can be easily programmed to control a variety of machines and processes. Their modular nature and ability to connect via industrial networks make them ideal for applications such as controlling conveyor belts, monitors, motor controls, and automation of complex processes across industries such as food and beverage, oil & gas, automotive, and others. This has resulted in the growing demand for PLCs leading to revenue growth of the overall market.
Market key trends:
One of the major trends in the programmable logic controller market is the growing adoption of advanced programmable logic controllers. With continuous advancements in technology, PLCs are offering higher communication speeds, computing power, memory and seamless connectivity capabilities. The modern PLCs support advanced features such as built-in ethernet ports, Wi-Fi connectivity, cloud connectivity and offer simple drag-and-drop programming features for application development. The advanced capabilities of PLCs are enhancing their use across industries for sophisticated automation applications.
SWOT Analysis
Strength: Programmable logic controllers provide flexibility and cost-effectiveness for automation. They can easily integrate into existing systems and are suitable for a wide range of automation applications across industries.
Weakness: Skilled workforce is required for initial configuration and programming of PLCs. Their programs also need to be modified for any changes in the automation process.
Opportunity: Growing adoption of IoT and Industry 4.0 is creating opportunities for deployment of advanced PLCs integrated with cloud, analytics and wireless technologies. This is increasing their applications in remote monitoring and predictive maintenance.
Threats: Availability of alternative technologies like robotics, DCS systems and customized controllers pose threats to PLC market. Component shortages and supply chain disruptions also impact the PLC manufacturing.
Key Takeaways
The global Programmable Logic Controller Market Share is expected to witness high growth, exhibiting CAGR of 5.4% over the forecast period, due to increasing industrial automation across manufacturing industries. The market size for programmable logic controllers was valued at US$ 12.89 Bn in 2023.
Regional analysis: North America dominated the PLC market in 2023 with largest share owing to strong manufacturing sector and early adoption of industrial automation in the region. Asia Pacific is expected to exhibit highest growth in coming years led by China, India and other Southeast Asian countries. Countries like China and India are witnessing rapid industrialization that will propel the demand for programmable controllers during the forecast period.
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. These players are focusing on new product launches and mergers to strengthen their market position.
*Note:
1. Source: Coherent Market Insights, Public sources, Desk research
2. We have leveraged AI tools to mine information and compile it