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Programmable Logic Controller (PLC) Market Size to Grow USD 19510 Million by 2029 with a CAGR of 5.3% | Valuates Reports

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BANGALORE, India, Aug. 9, 2023 /PRNewswire/ — Programmable Logic Controller (PLC) Market is Segmented by Type (Nano, Micro, Medium, Large), by Application (Petrochemical and Gas Industry, Steel Industry, Automobile Industry, Electrical And Electronics Industry, Semiconductor Industry, Power Industry): Global Opportunity Analysis and Industry Forecast, 2023-2029.
Due to the COVID-19 pandemic, the global Programmable Logic Controller (PLC) market size is estimated to be worth USD 13560 Million in 2022 and is forecast to a readjusted size of USD 19510 Million by 2029 with a CAGR of 5.3% during the forecast period 2023-2029.
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Major Factors Driving the Growth of Programmable Logic Controller (PLC) Market:
Over the forecast period, high demand for PLC from various end-use industries is anticipated to propel market expansion.
During the forecast period, an increase in industrial automation or a growing acceptance of Industry 4.0 is anticipated to fuel the growth of the PLC market. Industry 4.0 is transforming how businesses produce, enhance, and distribute their goods. With the introduction of Industry 4.0, numerous industrial facilities are embracing digital technology to improve, automate, and modernize the entire process, enhancing the facilities’ performance.
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TRENDS INFLUENCING THE GROWTH OF PROGRAMMABLE LOGIC CONTROLLER MARKET:
The adoption of Industry 4.0 standards and the development of automation have been key market drivers for PLCs. PLCs are essential for enabling smart manufacturing processes since industries are increasingly focused on efficiency, productivity, and cost-cutting. PLCs aid in the integration of data from numerous devices, enabling smooth system and machine communication, increasing output, and decreasing downtime.
The need for PLCs has increased as a result of the manufacturing industry’s ongoing expansion and modernization. These controllers provide flexible manufacturing processes and automation, enabling businesses to respond swiftly to shifting consumer demands and enhance production cycles. Furthermore, PLCs play a crucial role in maximizing energy use and monitoring resource utilization as industries work to lower their environmental effect and energy consumption. PLCs are a good option for organizations that care about the environment since they improve process control by being more accurate and effective.
Industrial automation has been transformed by the Internet of Things (IoT) and Industrial Internet of Things (IIoT) technologies combined with PLCs. PLCs may receive real-time data from IoT-enabled sensors and devices, enabling data-driven decision-making, remote monitoring, and predictive maintenance. This integration has created new possibilities for improved productivity and data-driven improvements.  Process optimization is becoming more and more important, and PLCs provide unmatched flexibility in programming and control, making it possible to optimize processes precisely. Industries are putting more of an emphasis on cutting waste, improving product quality, and making sure everything runs smoothly. PLCs give them the precise control and data-driven insights they need to accomplish these objectives.
The demand for PLCs is increasing as emerging economies continue to engage in infrastructure improvement and industrialization. These nations strive to improve their industrial capacities and maintain their competitiveness on the international scene. To fulfill the needs of their developing industrial sectors, there is an increasing requirement for automation systems like PLCs.
PLC troubleshooting is fairly simple compared to relay logic. To show the IO status, LED indicators are placed over the controller hardware. Additionally, we may verify the input or output status with the associated program, and diagnostic data is also available to find system flaws.
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PROGRAMMABLE LOGIC CONTROLLER MARKET SHARE ANALYSIS
Among the major PLC manufacturers worldwide are Siemens, Rockwell (A-B), Mitsubishi, and others. The top three players hold around 63% of the market.
The greatest producer in Europe, with a market share of around 35%, followed by North America and Japan, each with a market share of about 24%. With a market share of roughly 37%, Asia-Pacific leads the way, followed by Europe and North America, each with 34% and 23%.
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Key Companies:
SiemensRockwell (A-B)MitsubishiSchneider (Modicon)OmronEmerson (GE Fanuc)ABB (B&R)Bosch RexrothBeckhoffFujiToshibaKeyenceIdecPanasonicKoyoBuy Now for Single User + Covid-19 Impact : https://reports.valuates.com/api/directpaytoken?rcode=QYRE-Auto-26C9115&lic=single-user 
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SIMILAR REPORTS
–  Programmable Logic ICS Market
–  Programmable Logic Controller Automation (PLC Automation) Market
–  Programmable Logic Controller (PLC) Battery Market
–  Programmable Logic Controller (PLC) Control Panel Market
–  Compact Programmable Logic Controller Market
–  Manufacturing Execution System (MES) market size is estimated to be worth USD 12550 Million in 2022 and is forecast to a readjusted size of USD 19270 Million by 2028 with a CAGR of 7.4% during the review period.
–  The global factory automation market was valued at USD 242.5 Billion in 2021 and is projected to reach USD 558.8 Billion by 2031, growing at a CAGR of 8.7% from 2022 to 2031.
–  Industry 4.0 market size is projected to reach USD 280150 Million by 2028, from USD 107250 Million in 2021, at a CAGR of 14.4% during 2022-2028.
–  Electrical Digital Twin market was valued at USD 4664.3 million in 2022 and is anticipated to reach USD 13510 million by 2029, witnessing a CAGR of 19.4% during the forecast period 2023-2029.
–  The global digital twin market size is projected to reach USD 26320 million by 2027 from USD 3203.4 million in 2020 at a CAGR of 35.1% during 2021-2027.
–  Smart Factory market is projected to reach USD 131740 million by 2028 from an estimated USD 71200 million in 2022, at a CAGR of 10.8% during 2023 and 2028.
–  Industrial Automation market size is projected to reach USD 212410 million by 2027, from USD 130710 million in 2020, at a CAGR of 6.7% during 2021-2027.
–  Industrial Controls and Factory Automation market size is projected to reach USD 224400 million by 2028, from USD 137150 million in 2021, at a CAGR of 7.2% during 2022-2028.
–  Industrial IoT (IIoT) market size is projected to reach USD 102460 million by 2028, from USD 71160 million in 2021, at a CAGR of 5.3% during 2022-2028.
–  Smart Manufacturing market size is projected to reach USD 397120 Million by 2028, from USD 203530 Million in 2021, at a CAGR of 9.9% during 2022-2028.
–  The global supply chain management market was valued at USD 27.2 Billion in 2022, and is projected to reach USD 75.6 Billion by 2032, growing at a CAGR of 10.9% from 2023 to 2032.
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Greater Bay Area: Macao’s Economy Thrives with Diversified Development

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MACAU, China, July 1, 2024 /PRNewswire/ — According to data released by the Macao SAR Government, the number of tourists visiting Macao in the first quarter of 2024 reached 8.876 million, marking a year-on-year increase of 79.4%. The average occupancy rate of hotels exceeded 85%. Additionally, Macao’s GDP grew by 25.7% in real terms, the unemployment rate fell to 2.1%, and the median working income of the employed population increased by MOP 1,000 year-on-year.

 

In the fiscal year 2023 government report, the Macao SAR government introduced the “1+4” strategy for moderate diversified development to foster four key industries. Over the past year, the government has pursued over a dozen investment plans in the science and technology sector, supporting several scientific research achievements with transformation and application prospects.
In the modern financial industry, Macao has leveraged its “free port” status, focusing on specialized finance areas such as bonds, wealth management, green finance, and financial leasing. The bond market and debt issuance have seen rapid growth. Furthermore, the establishment of the Hengqin Guangdong-Hong Kong-Macao Deep Cooperation Zone has expanded opportunities for Macao’s diversified development. The development plan for the Cooperation Zone includes the construction of the Macao Brand Industrial Park. As of April 2024, the number of Macao enterprises in the Cooperation Zone reached 6,208, a year-on-year increase of 12.3%, and a 33.88% increase since the establishment of the Cooperation Zone. The model of “Headquartered in Macao and operating in Hengqin” has emerged as a new development paradigm for Macao’s industries.
Despite its small size, Macao holds significant potential and opportunities, promising a bright future.
Contact: Yao Shunyu
Tel.: 008610-68994660
E-mail: [email protected]
YouTube link: https://youtu.be/0HKff9CPD1U
 
 

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Revolutionising Customer Engagement with Emotionally Intelligent Customisable AI Avatars

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Rapport Self-Service Platform integrates with ChatGPT, AWS, Azure, and Google Gemini to create the first fully customisable and open-ended AI solution for businesses
LONDON and EDINBURGH, Scotland, July 1, 2024 /PRNewswire/ — Today, Rapport, the AI platform for emotionally intelligent interactive characters, announces the launch of the first ever Self-Service Virtual Interactive Avatar platform to businesses. Powered by Speech Graphics, the world’s leading facial animation solution for video games, the platform will enable users to create, animate, and deploy their own Virtual Interactive Personalities (VIPs) in a matter of minutes – enhancing user experiences, driving engagement and creating emotional connections.

Research by Salesforce revealed that 91% of consumers who have a positive customer experience are more likely to make another purchase. With this insight, Rapport’s new solution will aim to harness Artificial Intelligence (AI) and immersive technology to meet and exceed customer expectations, across retail, healthcare, education, HR and Marketing.
“Our platform is designed to revolutionise how businesses and individuals engage with audiences,” said Gregor Hofer, CEO of Rapport. “To date, we’ve seen a tremendous impact on immersive learning, and opportunities flourish in sales, marketing, service, and entertainment. With our technology, users can create emotionally intelligent avatars that significantly enhance customer interactions at the point of sale across almost any market sector.”
Rapport Self-Service offers a user-friendly platform that guides users through a step-by-step process to create their unique virtual characters. The platform is the only solution that gives users the freedom to mix and match all components necessary to create, animate, and deploy interactive characters with emotional intelligence, in any language, on any platform.
Key features of Rapport Self-Service include:
Bespoke character selection: Choose from a diverse library of existing characters or create your own using Ready Player Me.Select a ‘brain’: Integrate with major AI providers such as ChatGPT, AWS, Azure, or Google Gemini. Users can opt for an open-ended AI or customise it with specific prompts.Pick a voice: Access thousands of voice options from major text-to-speech providers, available in any language.Animate a character: Utilising Speech Graphics’ cutting-edge audio-driven facial animation technology for realistic lip-sync and emotional expressions.Publish and share: Deploy the avatar anywhere in your digital ecosystem with a simple snippet of code.At the core of Rapport Self-Service technology lies Speech Graphics’ audio-driven facial animation, a proven solution in the video game industry. Unlike other technologies, Speech Graphics employs detailed muscle maps for extremely accurate real-time lip-sync. This approach accelerates the suspension of disbelief, allowing users to connect with the avatars on a deeper emotional level.
Rapport offers flexible pricing options, including a free ‘Explorer’ tier and a ‘Creator’ tier priced at just $0.21 per minute of interaction, with an introductory offer of $0.08 per minute for the first three months. Custom pricing is also available for high-volume users.
To see a sneak peek of the Rapport Self-Service platform in action see here.
About Rapport 
Rapport is the leading end-to-end generative AI platform for interactive characters. It automates character animation from speech and other vocalisations. 
Speech Graphics
Speech Graphics’ technology produces accurate, consistent, natural lip sync with remarkable full-face emotional expressions from audio alone, saving video games studios significant time, effort and money in realising the highest quality output. Our tools are used across the spectrum of AAA, AA, and indie titles, including Hogwarts Legacy, The Last of Us Part 2, Resident Evil: Village, and High on Life amongst many others.
 

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Typeform Delivers Solution to Help Companies Capture and Convert More Customers

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Innovations including video capabilities, data enrichment, and AI-powered analysis enable businesses to boost customer acquisition with end-to-end solution
LONDON, July 1, 2024 /PRNewswire/ — Typeform, the intuitive form builder and conversational data collection platform, today announced Typeform for Growth, a suite of new capabilities designed to help businesses capture, qualify, and convert leads to boost revenue growth. The capabilities were designed with growing businesses in mind, providing go-to-market (GTM) teams with an intuitive platform to streamline customer acquisition. Now it’s easier than ever to create engaging experiences to collect zero-party customer data, automatically enrich responses, and harness the power of AI to automate marketing workflows.

“For over a decade, Typeform has continuously redefined online engagement,” said Aleks Bass, Chief Product Officer, Typeform. “With the launch of Typeform for Growth, we’re once again leading the charge, empowering businesses to interact with audiences in more dynamic and personalised ways. This new suite of capabilities consolidates multiple tools into one seamless solution, making it easier than ever to understand, engage, and convert customers.”
Typeform has been on a mission to make collecting data more engaging and enjoyable for both creators and respondents since its beginning, empowering more than 150,000 customers to gather the information they need to grow their businesses. Today’s launch expands on that vision by introducing new features that enable companies to collect data in more interactive ways and integrate it throughout their technology stack. With a more complete customer picture, GTM teams can enhance engagement and personalise every journey, all while increasing efficiency. The innovations come at a critical time, as McKinsey & Company’s 2023 Global B2B Pulse found that 77% of companies using direct one-to-one personalisation observed an increase in market share.1
Key benefits of Typeform for Growth include: 
Use interactive, multimedia forms to stand out. Capture more leads with on-brand, hyper-personalised forms that include a mix of text, audio, images, and video. In 2023, forms created with Typeform saw an average completion rate of 47.3%, more than 25 percentage points higher than the industry average completion rate of 21.5%, according to Typeform’s The Data on Data Report.
Video forms: Record, edit, and embed personalised videos into forms to connect with customers, boost engagement, and increase conversion rates.Gain deeper insights with less lift. Enrich data directly in Typeform to better understand customers and streamline customer acquisition workflows, eliminating the need for a separate lead data enrichment tool.
Automated enrichment: Focus on asking the important questions and let Typeform fill in the rest with real-time B2B data enrichment.Data quality controls: Protect the integrity and quality of data with reCAPTCHA and advanced spam-blocking measures.Convert more leads into pipeline. Create touchpoints for all leads and use automation to connect with high-value leads faster. Leverage AI to improve marketing and sales efficiency and effectiveness.
Workflow automation: Automate scoring, routing, and emailing to quickly prioritise and connect with promising opportunities. Smart Insights and Ask AI: Uncover key data insights by using AI to analyse large volumes of data and query data with natural language. “The way Typeform integrates data across sources provides deeper insights than what we’ve had access to before,” said Justin Lubomirsky, Senior SEO Manager, OrCam. “With a more complete image of our audience, we can better customise content, creating more effective customer engagements that positively impact our business.” 
The suite of capabilities is available now in the company’s newly released Typeform for Growth plans, providing companies of all sizes, industries, and budgets access to sophisticated marketing tools in one platform. Existing customers can upgrade their plan immediately to gain access to the new features. 
To learn more about how Typeform is helping companies drive growth, visit: www.typeform.com/growth. 
About TypeformTypeform is a distinctly intuitive form builder that helps over 150,000 customers collect and validate the data they need to grow their businesses. Designed with striking visuals, a conversational flow, and powerful data capabilities, Typeform empowers brands to give and get more with each form. Typeform drives more than 500 million responses each year and integrates with essential tools including Zapier, HubSpot, and Slack. For more information, visit www.typeform.com.
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1 Brailovsky, E., Hernandez, F., Plotkin, C. L., & Stanley, J. (2023, April 13). The multiplier effect: How B2B winners grow. McKinsey & Company. https://www.mckinsey.com/capabilities/growth-marketing-and-sales/our-insights/the-multiplier-effect-how-b2b-winners-grow#/
 
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