Global Programmable Logic Controller (PLC) Market to Reach USD 22.17 Billion by 2030, Growing at a CAGR of 6.0%

According to a report by Next Move Strategy Consulting, the global Programmable Logic Controller (PLC) Market, valued at USD 12.52 billion in 2021, is projected to reach USD 22.17 billion by 2030, exhibiting a compound annual growth rate (CAGR) of 6% from 2022 to 2030.

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Market Segmentation

The PLC market is segmented based on offering, type, and application.

• By Offering: Hardware, Software, and Services.

• By Type: Compact PLC, Modular PLC, and Rack PLC.

• By Application: Packaging & Labelling, Material Handling, Escalator & Elevator, Process Control, Industrial Equipment Control System, Safety Monitoring & Control, Energy Management, Home & Building Automation, and Others.

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Geographical Analysis

Asia-Pacific currently holds a significant share of the PLC market, driven by rapid industrialization and the expansion of manufacturing sectors in countries like China, India, and Japan. North America and Europe also contribute substantially to the market, with strong emphasis on automation and technological advancements in industries.

Major Players

Key players in the PLC market include Siemens AG, Rockwell Automation, Mitsubishi Electric Corporation, OMRON Corporation, Schneider Electric, ABB Ltd., Eaton Corporation, Honeywell International Inc., Emerson Electric Co., and Hitachi, Ltd. 

Emerging Trends

Emerging trends in the PLC market encompass the integration of wireless PLC systems, offering benefits like reduced installation costs and enhanced flexibility. The adoption of Industry 4.0 technologies, including the Internet of Things (IoT), artificial intelligence (AI), and cloud computing, is also driving the demand for advanced PLC solutions. 

Conclusion

The PLC market is poised for substantial growth, fueled by technological innovations, increasing automation across various industries, and a heightened focus on efficient control systems. As the market evolves, companies that adapt to emerging trends and invest in advanced PLC solutions are likely to gain a competitive edge.

About Next Move Strategy Consulting:

Next Move Strategy Consulting is a premier market research and management consulting firm that has been committed to provide strategically analyzed well documented latest research reports to its clients. The research industry is flooded with many firms to choose from, what makes Next Move different from the rest is its top-quality research and the obsession of turning data into knowledge by dissecting every Bit of it and providing fact-based research recommendation that is supported by information collected from over 500 million websites, paid databases, industry journals and one on one consultations with industry experts across a diverse range of industry sectors.

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