The micro programmable logic controller (PLC) market is attributed to the increasing demand for compact automation solutions. However, the growing cybersecurity concerns might hinder the market growth. On the other hand, growing investment in smart factories presents new opportunities in the coming years.
The use of industrial IoT(IIoT) for manufacturing and factory automation has enabled smart maintenance, distributed intelligence systems, and predictive analytics. However, the rising adoption of IoT-enabled devices often results in design challenges. As a result, most SMEs have started to look for small form factors and devices that can provide the same functionalities and features as that of large devices while consuming lesser power.
This creates a significant opportunity for micro PLCs as they enable SMEs to utilize control-level automation at a low cost without compromising on productivity. Furthermore, vendors are further focusing on developing flexible machine designs that incorporate inputs from OEMs, manufacturers, and system integrators. This seamless transition from traditional automation to Industry 4.0 in the manufacturing industry is further likely to create immense growth opportunities for the micro PLC market in the forthcoming years.
"The growing industrialization and increasing investments in power segment, water and wastewater treatment industry, and food and beverage sector will further boost market growth during the forecast period", says a senior analyst at Technavio.
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Key suggestions from the report:
- By product, the hardware segment accounted for the largest share of the overall revenue in 2020.
- Based on end-user, the automotive industry segment held the largest share in 2020
- APAC dominated the market in 2020 and is expected to maintain its lead over the forecast period.
- 31% of the market's growth will originate from APAC during the forecast period.
- China and Japan are the key markets for micro programmable logic controllers in APAC. Market growth in this region will be faster than the growth of the market in Europe, North America, and South America.
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Major Three Micro Programmable Logic Controller (PLC) Companies:
ABB Ltd.
ABB Ltd. operates business through Electrification, Industrial Automation, Motion, and Robotics & Discrete Automation. The company offers AC500, AC500-eCo, AC500-S, and AC500-XC scalable PLC ranges.
Bosch Rexroth AG
Bosch Rexroth AG offers PLCs and IoT solution program.
Hitachi Ltd.
Hitachi Ltd. operates business through IT, Energy, Industry, Mobility, Smart Life, Hitachi High-Tech, Hitachi Construction Machinery, Hitachi Metal. The company offers Programmable Logic Controllers.
Read the 120-page report with TOC on "Micro Programmable Logic Controller (PLC) market analysis report by product (hardware, software, and services), end-user (automotive industry, oil, and gas industry, power industry, food and beverage industry, and others), and geography (APAC, North America, Europe, South America, and MEA), and the segment forecasts during 2021-2025". Gain competitive intelligence about market leaders. Track key industry opportunities, trends, and threats.
More Details: https://www.technavio.com/report/micro-programmable-logic-controller-market-industry-analysis
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