Global Programmable Logic Controller Market Analysis, Growth, Trends & Forecasts 2018-2023, With an Expected CAGR of 3.7% - ResearchAndMarkets.com
Jul. 30, 2018
DUBLIN--(BUSINESS WIRE)--Jul 30, 2018--The "Global Programmable Logic Controller Market - Segmented By Type (Hardware, Software, Services), Applications (Automotive, Oil & Gas, Pharmaceuticals) and Geography - Growth, Trends, and Forecasts (2018 - 2023)" report has been added to ResearchAndMarkets.com's offering.
In 2017, the global programmable logic controller market was estimated at USD 8.491 billion and is expected to reach USD 10.595 billion by 2023, registering a CAGR of 3.7% during 2018-2023.
Employment of PLC systems can reduce the machine downtime, drastically. As these systems are automated, they can identify and rectify any error without human intervention. These systems are designed to monitor the machines, which are working continuously, so as to detect any errors or malfunctioning of the machinery and initiate a rapid response. The downtime of machines can be reduced from 20% to 4% by the use of automated PLC systems.
The rate adoption of PLC systems in the chemical industry is growing at a fast pace. Even though PLC entered the market late, there is a large scope for its use in the chemical industry. Owing to several advanced and complicated processes, this industry requires the most innovative and productive process automation solutions. The batch process in the chemical industry is sequential in nature and requires the time-of-event-based decisions that are controlled by PLCs.
The United States is on the verge of experiencing the fourth industrial revolution, as an extensive scale of data is being generated and integrated via a wide variety of manufacturing systems throughout the US supply chain. The United States is one of the largest automotive markets, worldwide, and a home to over 13 major automotive manufacturers. The automotive manufacturing industry has been one of the largest revenue generators for the country, in the manufacturing sector.
Companies MentionedABB Ltd Mitsubishi Electric Corporation Schneider Electric Rockwell Automation Siemens AG General Electric Honeywell International Omron Corporation Panasonic Bosch Rexroth Allen Bradley Emerson Electric Co
Key Topics Covered:
2. Research Methodology
3. Market Insights
4. Market Dynamics
5. Global PLC Market - Segmentation by Type
6. Global PLC Market - Segmentation by Application
7. Global PLC Market - Segmentation by Geography
8. Competitive Intelligence - Company Profiles
9. Investment Analysis
10. Future of PLC Market
For more information about this report visit https://www.researchandmarkets.com/research/5zntqw/global?w=4
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Related Topics:Software,Telematics and Vehicle Electronics,Industrial Automation
INDUSTRY KEYWORD: TECHNOLOGY DATA MANAGEMENT SOFTWARE MANUFACTURING ENGINEERING
SOURCE: Research and Markets
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PUB: 07/30/2018 09:43 AM/DISC: 07/30/2018 09:43 AM