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Programmable Logic Controller (PLC) Market – Growth, Trends, COVID-19 Impact, and Forecasts (2023 – 2028)
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New York, April 05, 2023 (GLOBE NEWSWIRE) — Reportlinker.com announces the release of the report “Programmable Logic Controller (PLC) Market – Growth, Trends, COVID-19 Impact, and Forecasts (2023 – 2028)” – https://www.reportlinker.com/p06062818/?utm_source=GNW
The system also helps detect errors or flaws and alerts the technician. Due to their compact sizes, PLC systems are preferred over traditional ones, like relays and switch boxes. Another advantage of PLCs is their multi-functionality (owing to their programmable nature that can be used for multiple operations depending on the application).
Key Highlights
Machine downtime is one of the major factors that impact an industry’s manufacturing efficiency. Downtime is estimated to be responsible for 5-20% of the manufacturing losses incurred during operation. The deployment of PLC systems enables the identification and rectification of errors and can initiate rapid responses even without human intervention.
Industry automation is one of the major factors driving the growth of the PLC market. Automation can be defined as automatic processing systems to decrease human intervention and increase the efficiency of the process through the optimal utilization of resources. The industries have now realized the reliability and long-term profits that can be achieved by using automated systems. Conveyor systems and packaging systems, among others, can be automated by using PLC systems.
PLCs are being used to control manufacturing processes, such as assembly lines, robotic devices, or any activity requiring high-reliability control and ease of programming and process fault diagnosis. PLCs are evolving and remain the best choice for a wide range of industrial automation applications. Scalability, greater memory, smaller sizes, very high-speed (gigabit) Ethernet, and built-in wireless are among the emerging programmable logic controller capabilities.
Due to modern consumers’ demand for personalized products, industries have been pushing themselves from a mass production model into mass customization. PLCs are vastly adopted in industries whose processes do not change. However, the increasing end-user demand for customization of products has made the manufacturing processes more sophisticated and complex, with the need for frequent adjustments, consequently driving the end-users to adopt and invest in more flexible systems, such as PC-based and cloud-based controllers rather than PLCs.
The COVID-19 pandemic, which hit the major economies worldwide, has greatly influenced the market’s growth. Country-wise lockdown restrictions inflicted by governments worldwide (to minimize the spread of the virus) have further resulted in industries taking a hit and disrupting the supply chain and manufacturing operations worldwide. With the advent of other technologies, such as machine vision, collaborative robots, artificial intelligence for driverless/autonomous cars, and cognitive computing in IoT-connected cars, the automotive sector is expected to grow further post-pandemic.
Programmable Logic Controller (PLC) Market Trends
Automotive is Expected to Be the Fastest-growing End-user Industry
PLCs are adopted at the manufacturing stage to handle the ever-increasing demands of the automotive industry. These were initially used as relay replacement equipment in automotive manufacturing. PLCs allow manufacturers to work smarter and faster, and as automated processes minimize the occurrence of bottlenecks, this reduces expenses in operation and production time in the industry.
Manufacturing plants of many automotive companies have been undergoing manufacturing changes to incorporate new technology into the manufacturing stream to increase productivity and efficiency. For instance, ATS Applied Tech Systems Ltd developed a tracking and tracing system for airbags using InTrack, InTouch, and GE-Fanuc PLCs to achieve full error-proofing and traceability. By using the system set-up, it is possible to trace the airbag’s origin and the production machines’ status during the manufacturing process, in case a fault is detected, even up to 10 years after production.
It has been identified that auto assembly increased significantly using automation, showing a growth pattern in the number of cars being produced globally while simultaneously cutting costs, paving the way for the growth of smart factories’ implementation in this sector. The automotive industry has used robots in its assembly lines for various manufacturing processes for many years. Nowadays, automakers are exploring the use of robotics in more procedures. Robots are more efficient, flexible, accurate, and dependable for these product lines. This technology enables the automotive industry to remain one of the most significant robot users and possess one of the most automated supply chains.
There has been a growing demand for automobiles across the world. According to Scotiabank, worldwide automobile sales are predicted to reach 69.9 million units by 2023.
According to IBEF, the Indian automotive industry aims to increase vehicle export by five times during 2016-26. In FY22, the total automobile exports from India stood at 5,617,246 units. In addition, in April 2022, Tata Motors announced plans to invest USD 3.08 billion in its passenger vehicle business over the next five years. Owing to such potential growth, better production facilities enabled by automation are needed, which is expected to fuel the growth of PLCs in the domain.
Asia-Pacific is Expected to Be the Fastest-growing Market
The manufacturing sector forms a significant part of China’s economy, which is undergoing a rapid transformation with the recent growth in IoT due to the rise in Industry 4.0 across the manufacturing industries globally. This large-scale transformation has put the country in one of the leading positions in the PLC market globally.
India is driven by the growing application of robotic process automation (RPA) and artificial intelligence (AI)-based technologies. According to the global RPA platform Automation Anywhere, India is currently its second-biggest revenue generator after the United States. Global capabilities centers, service providers, and Indian enterprises are its biggest customers in India.
India’s industrial automation sector has been revolutionized by the combination of digital and physical aspects of manufacturing to deliver optimum performance. The focus on achieving zero waste production and a shorter time to reach the market has augmented the market’s growth.
Japan has a larger market share in the robot manufacturing industry and installed methods where industrial robots are used to assemble robots. The country also houses multiple leading companies like Nippon, responsible for 47% of the global robot production, as per the IFR. Such instances are expected to drive the need for automation, resulting in the growth of PLCs in the region.
The other countries considered from the Asia-Pacific region include South Korea, Singapore, Indonesia, Australia, and Thailand. With the abundant availability of raw materials and cheaper land rates, Thailand and Malaysia are slowly emerging as major industrial hubs, an alternative to China. This trend is expected to boost the growth of the PLC market in Asia-Pacific.
Programmable Logic Controller (PLC) Industry Overview
The programmable logic controller (PLC) Market is moderately fragmented, with the presence of major players like ABB Ltd, Mitsubishi Electric Corporation, Schneider Electric SE, Rockwell Automation Inc, and Siemens AG. Players in the market are adopting strategies such as partnerships, mergers, and acquisitions to enhance their product offerings and gain sustainable competitive advantage.
July 2022 – Omron Corporation designed the CP2E Micro PLC for compact equipment and supported data collection and machine-to-machine communication. CP2E is one of the powerful and effective solutions for mass-produced single machines where cost performance is important. CP2E series controllers provide an efficient solution for flexible production where traceability and machine monitoring are essential.
May 2022 – Emerson Electric Co. announced the release of its PACSystem RSTi-EP CPE 200 programmable automation controllers. The new compact PACs will help the OEMs meet customer requirements by minimizing the need for specialized software engineering talent. CPE 200 controllers will deliver large programmable logic controller (PLC) capability in a cost-effective, small, IIoT-ready form factor, so the machine manufacturers do not need to sacrifice performance for the price.
Additional Benefits:
The market estimate (ME) sheet in Excel format
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