PLC Market in North America to Witness Huge Growth for Next Five Years
Sep 07, 2017
The PLC Market in North America is expected to grow at a CAGR close to 9% during 2016-2022.
The PLC Market – Global Outlook and Forecast 2017-2022, an exclusive report published by Arizton state that the North America region is likely to dominate the global PLC market during 2016–2022.
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Analysts at Arizton predict that the demand for PLCs in the North America region is driven by a high awareness of their advantages over conventional products, better product availability, and extensive reach of innovative products. It is further reinforced by a well-connected and evolved connectivity grid, product development with emphasis on low-power consumption, sustainability, and well-connected institutional footprint.
PLC Market in North America: Market Size and Analysis
North America, which includes the key countries of the US and Canada, constitutes a key geography as it hosts the most advanced and the largest economies of the world. The PLC market in North America ranks ahead of others in terms of innovation and standards in the region pave well for the product development and market structure wherein the competition is often measured in terms of performance than price. However, Arizton predicts the rise of competition in terms of closely matched functionalities and price for institutional buyers in view of tepid domestic demand and rapidly evolving product capabilities. Also, increasing demand for food and beverages, power, and water treatment industries is likely to escalate the use of modular programmable logic controllers in North America.
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PLC Market in US
The US is the world’s largest market for programmable logic controllers, driven by a high degree of automation, better availability of range and awareness, followed by China. The PLC vendors in the region stand at the forefront of innovation-driven by the large end-user market, and stringent adherence to workspace safety, energy efficiency, and cost controls all of which point automation to be imperative. Vendors in this region are increasingly investing in their product development capabilities, especially to enhance their product value in terms of ruggedness, low noise and energy consumption, sleek and compact designs and multi-dimensional integration with a modular build.
PLC Market in Canada
The PLC market in Canada, although significant, has witnessed a sluggish growth recently characterized by tepid industrial demand. A majority of the demand growth is being fueled by infrastructural growth, including new town planning projects and improved retail footprint of brands. The housing market in Canada is unique as it is heavily concentrated with few urban pockets hosting a majority of the population.
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About Arizton
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Arizton has gained a paramount standpoint in the market research arena as it offers top of the line solutions to clients to assess market landscape and finalize foolproof business strategies. We are committed to provide inclusive market research reports and consulting services to clients from diversified industries including – Consumer Goods & Retail Technology, Automotive and Mobility, Smart Tech, Healthcare and Lifesciences, Industrial Machinery, Chemicals and Materials, IT and Media, Logistics and Packaging
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