Programmable Logic Controller (PLC) Market Size, COVID-19 Impact Analysis, Regional Outlook, Application Development Potential, Price Trends, Competitive Market Share & Forecast, 2021 – 2027
Report ID: GMI2470
Programmable Logic Controller Market will record robust gains over the forecast period 2021-2027 with the proliferating trend of smart factories and industrial automation. The deployment of industrial robots for automation is growing rapidly. Robotics being one of the major application areas of PLCs, the market is likely to benefit significantly from the global robotics boom.
PLCs will continue to be the preferred choice among industrial operators for factory automation owing to their speed, reliability, repeatability, ease of deployment, and lower maintenance. The deployment of these systems enables easy identification and rectification of errors without human effort and helps reduce machine downtime significantly. PLCs can effectively replace hundreds of smaller electronic components, enabling better space management.
Considering the end-user, market share from the energy & power sector is likely to grow steadily between 2021 and 2027. PLC systems can play an important role for maintenance and power system analysis at power plants and grid systems. They can be used in smart grid systems for monitoring and detecting fault conditions, in auto assembly lines, and for power generation, transmission, and distribution. The constantly increasing demand for energy and ongoing developments in renewable energy sector will positively influence PLC deployment in the coming years.
In March 2021, ABB had had reached the cumulative 5GW mark in delivering PLC based solar plant automation solutions in India. The company had won numerous solar power project contracts for its utility-scale SCADA solutions across the country. The ABB SCADA system enables efficient operation of solar plants, allowing plant operators to seamlessly monitor and analyze power plant data.
The market in North America could expand at a substantial CAGR up to 2027. The regional PLC demand can be attributed to the increasing industrial investment in automotive, chemical, oil & gas, energy & power, and other end-use verticals. The proliferation of industrial automation and robotics in the automotive sector and growing deployment of collaborative robots for automaking will benefit the regional market, considering the presence of leading automakers in the U.S.
ABB, Bosch Rexroth, Panasonic Corporation, Eaton Corporation, Rockwell Automation, Schneider Electric, Mitsubishi Electric, Siemens, OMRON, Toshiba, Yokogawa, IDEC, Koyo Electronics, KEYENCE, and Fuji Electric are some of the biggest names in the market. With increasing automation across key industry verticals globally, PLC demand is soaring, constantly creating new opportunities for programmable logic controller developers. In July 2021, Siemens’ Simatic PCS 7 PLC system was selected by GEO Specialty Chemicals to boost production capabilities at its new facility in Hythe, U.K.
COVID-19 impact on programmable logic controller market trends
The COVID-19 pandemic has had a disruptive impact on industries, businesses, and economies due to supply chain uncertainties, lockdown restrictions, travel bans, and industrial shutdowns. The closure of major automotive factories, power plants, chemical plants, and oil & gas operations has led to a decline in PLC demand. In November 2020, for example, General Motors was forced to shut down two of its major assembly plants owing to parts shortages caused by the pandemic.
Numerous companies had also announced potential delays in product deliveries due to supply chain concerns. Travel and international trade restrictions imposed by countries in North America, Europe, and Asia Pacific had severely impacted business collaborations and partnership opportunities.
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