Global Programmable Logic Controller Market 2018-2022 | Industry Analysis and Forecast | Technavio
LONDON--(BUSINESS WIRE)--Aug 29, 2018--The global programmable logic controller market is expected to post a CAGR of close to 6% during the period 2018-2022, according to the latest market research report by . However, the growth momentum of the market is expected to decelerate due to a decline in the year-over-year growth. (PLC)
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Technavio has published a new market research report on the global programmable logic controller market from 2018-2022. (Graphic: Business Wire)
A key factor driving the growth of the market is the growing demand for customized and miniaturized PLCs. The end-users have been increasingly demanding customized PLCs that can cater to their specific needs due to the increasing adoption of automation in industries and the rising complexity in different automation processes. The issues associated with conventional PLCs, including space limitation and process complexity, can be solved by using customized PLCs.
This market research report on the also provides an analysis of the most important trends expected to impact the market outlook during the forecast period. Technavio classifies an emerging trend as a major factor that has the potential to significantly impact the market and contribute to its growth or decline.
In this report, Technavio highlights the technological advances in PLCs as one of the key emerging trends in the global programmable logic controller market:
Global programmable logic controller market: Technological advances in PLCs
The vendors are offering new features in PLCs by enhancing their capabilities and extending their application areas. The introduction of programmable automation controller (PAC) is one of the technological advances in PLCs. Programmable automation controller is the integration of a PLC and a PC.
“PACs consist of an open architecture and have a modular design due to which the PLCs can be used to operate several devices, networks, and systems. PACs modular design provides easy expansion and removal of devices and sensors and facilitates easy addition and monitoring of multiple I/O points,” says a senior analyst at Technavio for research on automation.
Global programmable logic controller market: Segmentation analysis
This market research report segments the global programmable logic controller market by product (unitary PLC, modular PLC, and rackmount PLC), by end-user (process industry, discrete industry, and building automation), and geography (the Americas, APAC, and EMEA).
The unitary PLC segment held the largest market share in 2017, accounting for nearly 38% of the market. This product segment is expected to dominate the global market throughout the forecast period.
EMEA led the market in 2017 with more than 62% of the market share, followed by the Americas and APAC respectively. EMEA is expected to dominate the market throughout the period 2018-2022.
Technavio’s sample reports are free of charge and contain multiple sections of the report such as the market size and forecast, drivers, challenges, trends, and more.
Some of the key topics covered in the report include:
Market LandscapeMarket ecosystem Market characteristics Market segmentation analysis
Market SizingMarket definition Market size and forecast
Five Forces Analysis
Geographical SegmentationRegional comparison Key leading countries
Vendor LandscapeVendors covered Vendor classification Market positioning of vendors Competitive scenario
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INDUSTRY KEYWORD: TECHNOLOGY ELECTRONIC DESIGN AUTOMATION HARDWARE INTERNET SOFTWARE
SOURCE: Technavio Research
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