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The programmable logic controller (PLC) market is anticipated to register a CAGR of 3.7% over the forecast period (2019
Tuesday, November 19, 2019

NEW YORK, Nov. 11, 2019 /PRNewswire/ --

Market Overview
The programmable logic controller (PLC) market is anticipated to register a CAGR of 3.7% over the forecast period (2019 - 2024). The deployment of PLC systems enables the identification and rectification of errors and can initiate rapid responses even without human intervention. Hence, these automated PLC systems are estimated to assist in reducing the machine downtime from 20% to almost 4%.

Read the full report: https://www.reportlinker.com/p05826203/?utm_source=PRN

- Increased adoption of automation systems is driving the market. A major growth indicator for PLCs in the discrete-manufacturing sectors is the amplified deployment of robots for automation across the automotive manufacturing, the electrical, and the electronics industries. The sales figures for industrial robots have increased almost four-fold since 2009. With robots being a major end-user of PLCs, the market is expected to greatly benefit from the global robotics boom.
- Simple programming method and ease of maintenance is driving the market to grow as PLC is provided with simple programming methods to program the PLC like Ladder or Boolean type of programming. Also as compared with the control systems like relay-based or micro-controller based systems, maintenance cost of PLC is low.
- Difficult to find errors and lack of skillful workforce is restraining the market to grow, as communication error can occur anytime between the programmable computer and the devices which demand for skillfull workforce to rectifiy the error.

Scope of the Report
PLC is the primary computing system, which controls automated machines. The system also helps in detecting any errors or flaws and alerts the technician. PLC systems are also preferred over traditional systems, like relays and switch boxes, due to their compact sizes. Another advantage of PLCs is their multi-functionality which are functionally use in the application such as automotive, oil & gas, etc.

Key Market Trends
Automotive to Hold Significant Share for the Future Demand

- PLC has been adopted at the manufacturing stage to handle the ever-growing demands of the automotive industry. It was initially used as a relay replacement equipment in the automotive industry.
- The demand for automobiles has been increasing steadily, The Center for Automotive Research (CAR) at the University of Duisberg-Essen has predicted that the global annual growth of cars is expected at 2.2%. Owing to such potential growth, better production facilities enabled with automation are needed, which is expected to fuel the growth of PLCs in the domain.
- With technological advancements, PLCs can replace nearly 100 relays, making better space management and man management possible. Various new technology is also integrating with automobiles, for instance on Oct, 2019, there was an announcement to merge Aptiv's driverless operations with those of Hyundai Motor, which will accelerate the former's prospects by adding the South Korean automaker's expertise to Aptiv's, and providing a platform for the so-called robotaxis, which is driverless cars that earn revenue on a per-ride basis. Aptiv PLC (APTV) has to be regarded as one of the front-runners in the race to capitalize on driverless technology.
- With the advent of other technologies, such as machine vision, collaborative robots, artificial intelligence for driverless/autonomous cars, cognitive computing in IoT-connected cars, the PLC market in automotive is expected to grow further.

North America Leads in Innovation and Demand

- The United States is estimated to hold a major share in North America owing to rise in industrial investment in the mining and oil & gas sectors, which fuelled the utilization of PLCs, thereby propelling the market growth. SCADA is widely applied in the upstream, midstream, and downstream oil and gas sectors in the United States. In the upstream sector, its role is often stereotyped as being largely in support of remote data transmission. However, due to the wide and varied use of SCADA , the demand of PLC will increase effectively.
- The dominance is also buoyed by smart manufacturing initiatives, such as the Smart Manufacturing Leadership Coalition (SMLC), that drives and facilitates the broad adoption of manufacturing intelligence and automation. The next generation of urban infrastructure is on the horizon and as the technologies of the Internet of Things has become increasingly high with Industry 4.0, one can soon expect to see local authorities relying on it to improve living, working and travelling conditions. The government is focusing is on smart city development and there will be a high demand of industrial digital computer in coming years.
- The formation of the 'Advanced Manufacturing Partnership (AMP)' is one such initiative undertaken to make industries, universities, and the federal governments invest in emerging technologies. This factor has helped the country to gain a competitive edge in the global economy and with increasing automation, the demand of PLC will rise in future.

Competitive Landscape
The PLC market is highly competitive and consists of several major players. In terms of market share, few of the major players currently dominate the market. These major players with a prominent share in the market are focusing on expanding their customer base across foreign countries. These companies are leveraging on strategic collaborative initiatives to increase their market share and increase their profitability. Moreover new companies are also increasing their foot in this market. Key players are ABB Ltd., Mitsubishi Electric Corporation, Schneider Electric SE, etc. Recent developments in the market are -
- April 2019 - Schneider Electric, announced the opening of its new office facility designed completely on an open office concept in Pune, Maharashtra. On the back of this expansion, the company aims to consolidate its leading position and revenues for its wide array of energy management products and solutions. This is an integrated facility of the company for all its business operations as well Design Engineering Center of ASCO Power Technologies, USA.
- Apr 2018 - Stäubli Robotics, one of the international players in robotics automation, and Schneider Electric has entered into a partnership by signing a long-term agreement to integrate customized Stäubli TS series, four-axis SCARA robots into Schneider Electric's EcoStruxure Machine architecture and platform.
- February 2018 - Mitsubishi Electric Corporation has completed construction of an integrated-automation factory for the production of vacuum interrupters and circuit breakers at its Power Distribution Systems Center in Marugame, Japan. The new factory is expected to deploy Mitsubishi Electric's e-Factory concept of integrated automation based on IoT technologies to achieve high efficiency, high productivity, and minimized cost.

Reasons to Purchase this report:
- The market estimate (ME) sheet in Excel format
- Report customization as per the client's requirements
- 3 months of analyst support

Read the full report: https://www.reportlinker.com/p05826203/?utm_source=PRN

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