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The Programmable Logic Controller (PLC) market size is expected to reach USD 17.34 billion in 2028 and register a revenue CAGR of 5.5%.

NEW YORK CITY, NEW YORK, UNITED STATE, July 4, 2023/EINPresswire.com/ -- The Programmable Logic Controller (PLC) Market experienced significant growth in recent years, with a size of USD 11.21 billion in 2020. It is projected to reach USD 17.34 billion by 2028, exhibiting a compound annual growth rate (CAGR) of 5.5% during the forecast period. This growth can be attributed to the increasing emphasis on improving the reliability, flexibility, and accuracy of automation systems across various industries.

PLCs offer several advantages, making them a preferred choice for automation. They provide dynamic development capabilities, along with features such as counters and timers, sequential control, and reliable controlling capabilities. The ease of hardware usage and programming further contribute to their popularity. PLCs have revolutionized control systems by replacing conventional relay control circuits, eliminating the need for extensive hard wiring. They find applications in diverse commercial sectors, ranging from controlling elevators and operating traffic signals to being integrated into washing machines.

Furthermore, the utilization of PLCs extends extensively to manufacturing industries, where they play a crucial role in monitoring and controlling production processes and building systems. This widespread adoption of PLCs in industrial settings is expected to be a significant driver for the continued growth of the market in the future.

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Top Leading Players in Programmable Logic Controller (PLC) Market:

Rockwell (A-B), Panasonic, Yokogawa, Toshiba, Idec, Maxim, Schneider (Modicon), Koyo, Siemens, Bosch Rexroth, IPM, GE Fanuc, B&R Industrial, and TI among others.

Programmable Logic Controller (PLC) Market: Notable Innovation

Integration of IoT and Industry 4.0: The integration of PLCs with the Internet of Things (IoT) and Industry 4.0 concepts has been a significant innovation. PLCs now have built-in connectivity options, allowing them to seamlessly communicate with other devices, systems, and cloud platforms. This integration enables real-time data exchange, remote monitoring, predictive maintenance, and improved overall system efficiency.
Edge Computing Capabilities: PLC manufacturers have introduced edge computing capabilities within their devices. This enables data processing and analysis to be performed at the edge of the network, closer to the data source, reducing latency and enabling faster decision-making. Edge computing in PLCs enhances real-time control, enables faster response times, and supports more complex automation tasks.
Advanced Programming and Configuration Tools: Innovations in PLC programming and configuration tools have simplified the development and maintenance of automation systems. Manufacturers have introduced user-friendly software with intuitive interfaces, drag-and-drop programming functionalities, and libraries of pre-built function blocks. These advancements have reduced the learning curve for PLC programming, making it more accessible to a wider range of users.
Safety Integrated PLCs: Safety is a critical aspect of industrial automation. Safety integrated PLCs combine standard control functions with safety functions, enabling the implementation of safety measures directly within the PLC system. This integration eliminates the need for separate safety controllers, reducing costs and simplifying system design and maintenance.
High-Speed Processing and Real-Time Control: PLCs now offer faster processing speeds and improved real-time control capabilities. These advancements enable PLCs to handle complex automation tasks, high-speed machinery, and precision control applications with greater efficiency and accuracy. The ability to handle increased data volumes and process tasks more rapidly has expanded the range of applications where PLCs can be deployed.

Programmable Logic Controller (PLC) Market Segmentation:

By Type (Revenue in USD Billion; 2018–2028)

Nano
Micro
Medium
Large

By End-use Industries (Revenue in USD Billion; 2018–2028)

Steel
Petrochemical and Gas
Power
Automobile
Others

Key Regional Markets Covered in the Report:

North America (U.S.A., Canada, Mexico)

Europe (Italy, U.K., Germany, France, Rest of Europe)

Asia Pacific (India, China, Japan, South Korea, Australia, Rest of Asia Pacific)

Latin America (Chile, Brazil, Argentina, Peru, Rest of Latin America)

Middle East & Africa (Saudi Arabia, U.A.E., South Africa, Rest of Middle East & Africa)

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