Programmable Logic Controller (PLC) Market in APAC to increase by USD 1.19 billion during 2023 to 2028; Increasing demand for PLCs in renewable power generation boosts the market growth - Technavio

NEW YORK, Dec. 11, 2023 /PRNewswire/ -- The programmable logic controller (PLC) market in APAC is expected to grow by USD 1.19 billion between 2023 and 2028. However, the growth momentum of the market will progress at a CAGR of  4.83% during forecast period. The market is segmented by end-user (process industry, discrete industry, and building automation), product (modular, unitary, and rackmount), and geography (APAC). Demand for PLCs in renewable power generation drives the market growth. The main purpose of PLC is to monitor and control the operation of wind turbines. Moreover, it controls various functions of the nacelle, from blade angle to hydraulics. Moreover, different sensors are located in wind turbines for detecting wind speed, wind direction, and shaft rotation speed, which collect and transfer data to the PLC. Hence, the growing demand for PLC for optimum power generation and low maintenance drives the market growth. The report analyses the market size and growth and provides accurate predictions on the growth of the market. View a Free PDF Sample 

Key Highlights:

• The report recognizes the following as some of the key players in the programmable logic controller (plc) market in APAC: ABB Ltd., Beckhoff Automation GmbH and Co. KG, Eaton Corp. Plc, Emerson Electric Co., Ependion AB, Festo SE and Co. KG, Fuji Electric Co. Ltd., IDEC Corp., Infineon Technologies AG, Keyence Corp., Lenze SE, Mitsubishi Electric Corp., OMRON Corp., Panasonic Holdings Corp., Parker Hannifin Corp., Robert Bosch GmbH, Rockwell Automation Inc., Schneider Electric SE, Siemens AG, and Toshiba Corp.
• Programmable Logic Controller (PLC) Market in APAC is fragmented in nature.
• Market to observe 3.92% YOY growth in 2024.

Market Dynamics:

Trend

•  Increasing focus on expanding the capability of micro PLCs drives the market growth. 
• There is increasing adoption of micro PLC as it has become an indispensable solution for controlling standalone machinery in the process and discrete industries. 
• Moreover, factors such as programming flexibility, ease of use, communication capability within a compact structure, and low price fuel its adoption.
• Hence, such factors drive the market growth.

Challenges

•  The growing market for industrial PC and DCS as substitutes hinders market growth.
• The growing adoption of automation has fuelled the shift from rackmount PLCs to more generic PC-based platforms.
• Moreover, the PC-based control system provides integration of PLC control, motion control, and SCADA on a single high-performance controller platform.
• Hence, the developments in industrial PCs and DCS hinder market growth.

The report also covers information on upcoming trends and challenges. Explore detailed information by purchasing a report

Key Segments:

• The market growth by process industry segment is significant during the forecast period. Some of the main factors that are fuelling the growth of this segment include the increasing use of PLC in industries such as oil and gas, chemical and petrochemical, power, water and wastewater treatment, and food and beverage, Hence, such factors are fuelling the growth of this segment which in turn drives the market growth during the forecast period.

 Get a glance at the market contribution of the segments, Request a Free Sample  

Related Reports:

The commercial food scales market size is estimated to grow at a CAGR of 3.82% between 2023 and 2028. The market size is forecast to increase by USD 129.26 million.

The professional lighting market size is estimated to grow at a CAGR of 6.75% between 2023 and 2028. The market size is forecast to increase by USD 29.82 billion.

ToC:

Executive Summary

Market Landscape

Market Sizing

Historic Market Sizes

Five Forces Analysis

Market Segmentation by End-user

Market Segmentation by Product

Market Segmentation by Geography

Customer Landscape

Geographic Landscape

Drivers, Challenges, & Trends

Company Landscape

Company Analysis

Appendix

About Technavio

Technavio is a leading global technology research and advisory company. Their research and analysis focus on emerging market trends and provide actionable insights to help businesses identify market opportunities and develop effective strategies to optimize their market positions. With over 500 specialized analysts, Technavio's report library consists of more than 17,000 reports and counting, covering 800 technologies, spanning across 50 countries. Their client base consists of enterprises of all sizes, including more than 100 Fortune 500 companies. This growing client base relies on Technavio's comprehensive coverage, extensive research, and actionable market insights to identify opportunities in existing and potential markets and assess their competitive positions within changing market scenarios.

Contacts

Technavio Research
Jesse Maida
Media & Marketing Executive
US: +1 844 364 1100
UK: +44 203 893 3200
Email: [email protected]
Website: www.technavio.com

SOURCE Technavio

WANT YOUR COMPANY'S NEWS FEATURED ON PRNEWSWIRE.COM?

440k+
Newsrooms &
Influencers

9k+
Digital Media
Outlets

270k+
Journalists
Opted In

GET STARTED