Programmable Logic Controllers (PLC) Market in APAC is Projected to Worth $12 Billion by 2023
Arizton’s recent market research report on the global PLC market (programmable logic controllers market) identifies Schneider Electric SE, Rockwell Automation Inc., Siemens AG, Mitsubishi Electric Corp., and Omron Corp as the leading vendors that are likely to dominate the market during the forecast period. This research report provides detailed analysis of market segmentation by type (unitary, modular, and rackmount), by end-user (automotive, chemicals and petro chemicals, mining and metallurgy, paper, packaging, and printing, food and beverages, water and waste-water treatment, oil and gas, and others), and by geography (North America, APAC, Europe, Latin America, and MEA).
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The PLC market (programmable logic controllers market) is divided into three major segments that consist of by type, end-users, and geography.
APAC to grow at the fastest CAGR in the global PLC market during the forecast period
The global PLC market by geographical segmentation consists of North America, APAC, Europe, Latin America, and MEA. APAC occupied a significant market share in 2016 and is expected to grow at a CAGR of around 9% during the forecast period. The growing requirement for value-added products and solutions that can save time and improve productivity is contributing to the growth of the programmable logic controllers market in APAC. The increasing disposable incomes and the robust growth of the manufacturing industries, including automotive, construction, chemicals, defense, and aerospace industries will create new opportunities for leading vendors in the APAC market. The establishment of progressive government policies, massive indigenous and private consumption, and demographic trends will lead to the growth of the PLC market in APAC. The infrastructural development and the demand for automated security and access control solutions will revolutionize the APAC’s programmable logic controllers market during the forecast period. China and India are estimated to contribute the highest revenues in the APAC market.
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Modular PLC to grow at a considerable CAGR in the global PLC market during the forecast period
The type segment in the global PLC market is classified into unitary, modular, and rackmount.
Modular PLC units dominated the total market share in 2016 and are anticipated to grow at a CAGR of approximately 9% during the forecast period.
The extensive application of automation solutions in the home and building management in augmenting the growth of the global programmable logic controllers market. The growing demand for technically advanced solutions from the food and beverages, power, and water treatment industries that improve production capacity and operational efficiency will attribute to the demand for products in the global market. The economic development and rapid industrialization in APAC will create new opportunities for top players in the global PLC market. The modular systems are specifically designed to accomplish complex tasks and are easier to troubleshoot and have greater economic security. The reliability of these innovative solutions is boosting their adoption across various medium and large-scale industries, specifically in the manufacturing process in the market. The effective functioning of these systems is making them the fastest growing segment in the global programmable logic controllers market.
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Food and beverage industries to grow at a significant CAGR in the global PLC market during the forecast period
The global PLC market by end-users is categorized into automotive, chemicals and petro chemicals, mining and metallurgy, paper, packaging, and printing, food and beverages, water and waste-water treatment, oil and gas, and others. Food and beverage segment occupied a considerable market share in 2016 and is projected to grow at a CAGR of around 9% during the forecast period. The integration of PLC-based automation systems in the food & beverage industry in the position of control in the production and distribution lines, packaging, and others is fueling the growth of the programmable logic controllers market. The increasing focus of leading companies to develop innovations for farm equipment and crop monitoring processes will revolutionize the food and beverage industry. The automation solutions will reduce the challenges in the industry and create lucrative opportunities for players in the global PLC market. Furthermore, manufacturers are leveraging technologies in the food science sector that focuses on the areas of quality control and safety, traceability, brand protection, product delivery, and waste reduction. The introduction of automatic food making or delivery systems will revolutionize the global programmable logic controllers market during the forecast period.
The prominent vendors in the PLC market (programmable logic controllers market) are ABB Ltd, General Electric, Toshiba Corp., Kontron AG, Honeywell International Inc., Panasonic Corp., Bosch Rexroth, Eaton Corp., Emerson Electric Co., and Yokogawa Electric Corp.
The report also offers a detailed study of major trends, drivers, challenges, and also provides the market size and forecast for major geographical regions and key countries.
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