July 23, 2024
Programmable Logic Controller Market

Programmable Logic Controller Market propelled by growing adoption in industrial automation

A programmable logic controller (PLC) is an industrial digital computer used for automation of various electromechanical processes such as control of machines and processes across various industries. PLCs are designed to withstand electrical noise, temperature extremes, humidity, and vibration in harsh manufacturing environments. They offer reliability and flexibility to easily integrate with machines and make changes to the production line as per requirement.

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 2023-2030, as highlighted in a new report published by Coherent Market Insights.

Market key trends:
The growing adoption of PLCs in various industrial sectors like oil & gas, food & beverage, chemicals, energy & power, automotive, etc. is one of the major trends fueling the market growth. PLCs help improve production efficiency, reduce downtime, enhance product quality, and ensure safety in industrial processes. They offer robust protection against harsh environmental conditions in factories. With rising automation and digitization of manufacturing processes worldwide, the demand for PLCs from industries is increasing steadily to gain operational flexibility and optimize resource utilization.

SWOT Analysis

Strength: Programmable logic controllers have benefits such as flexibility, expandability and adaptability to new technologies which makes it easy for customers to upgrade.

Weakness: High initial investment costs involved in purchasing PLCs and it requires trained personnel for programming and maintenance.

Opportunity: Growing adoption of industrial automation in sectors such as automotive, manufacturing is expected to drive the demand for programmable logic controllers. Rising focus on improving productivity and minimizing production costs also presents an opportunity.

Threats: Availability of alternatives such as Distributed Control System (DCS) and human machine interface (HMI) poses threat to the growth of PLC market. Cyber security threats to networked PLC systems also acts as a challenge.

Key Takeaways

Global Programmable Logic Controller Market Demand is expected to witness high growth. 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 2023-2030.

Asia Pacific region dominates the programmable logic controller market and is expected to grow at the fastest rate during the forecast period. Factors such as presence of automotive and electronics manufacturing industries and low labor costs drive the PLC market growth in the region.

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. Increasing adoption of industrial automation solutions for improving productivity is encouraging key players to focus on developing innovative PLC solutions. For instance, in 2023, Siemens launched a new generation of SIMATIC S7-1500 controller with faster CPUs for demanding applications in the automotive industry.

*Note:
1. Source: Coherent Market Insights, Public sources, Desk research
2. We have leveraged AI tools to mine information and compile it