Micro Programmable Logic Controller Market Size, Share, Growth and Industry Analysis by Type (Hardware, Services, And Software), By Application (Steel Industry, Petrochemical and Gas Industry, Power Industry, Automobile Industry, And Others) Regional Forecast To 2031

Updated On: 22 April 2024

Micro Programmable Logic Controller Market Report Overview

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The micro programmable logic controller market size is anticipated to be worth USD 72.082 billion in 2022 and the market is projected to touch USD 11.628 billion by 2030 with a CAGR of 6.1% during the forecast period.

 The sudden rise in CAGR was brought on by the market's expansion and the demand levelling down after the pandemic is over.

A micro programmable logic controller is computer control system which is used for industrial purposes. It helps in making decisions which are based on a custom program. It is also continuously monitoring the state of the input devices. It is used for controlling the state of output devices. Apart from that it also exercises control over the functioning of a system on the basis of internal logic that is programmed into the system.

Micro programmable logic controllers have gotten better over the years. Their performance, usability, and capacity has increased creating better opportunities for the product in the market. This is identified as the latest trend in the market.

These controllers are used in several sectors like automotives, robotics, oil and gas and many more. Rapid urbanization, introduction of sophisticated sensors many other changes are uplifting the market. All of these factors are considered as the factors driving the micro programmable logic controller market share.

COVID-19 Impact: Technological Developments That Took Place During the Pandemic Increased Market Share

The pandemic of COVID-19 made the operation of various sectors extremely difficult. But on the other hand, a few sectors and industries experienced a good growth. One such industry was the technology sector. As technology is accessible everywhere without location barriers the market flourished during the pandemic period.

Micro programmable logic controller is a market that is heavily dependent on technology. Artificial intelligence, Internet of Things (IoT), and other such technologies are being integrated into the micro programmable logic controller. As the technology sector experienced a tremendous growth and development the micro programmable logic controller market witnessed a rise in the demand during the pandemic period.

LATEST TRENDS

"Advancement in The Performance of These Equipments to Increase Market Growth"

Over a period of time, these controllers have improved their performance due to many factors. There has been an increase in the capacity of these equipments. It has become more convenient to use, communications can also be done very effectively and the programming has turned out to be more flexible.

Along with the betterment of this equipment the application of micro programmable logic controller is increasing in various sectors. It is used for architecture, automotive industry, chemical, mining industry and many other such sectors. These are observed to be some of the latest developments in the market.  

Micro Programmable Logic Controller Market Segmentation

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• By Type:

The market can be divided into the following segments depending on their respective types:

Hardware,      services, and, software. The software segment is anticipated to dominate the market during the forecast period.

• By Application:

Based on application, the market share is bifurcated into the following segments:

Steel industry, petrochemical and gas industry, power industry, automobile industry, and, others. The steel industry segment is expected to dominate the market during the forecast period.

DRIVING FACTORS

"Integration of Micro and Nano Programmable Logic Controller in Several Applications to Amplify Market Growth"

Both micro and nano programmable logic controllers are used in several applications and this is propelling the market growth. This equipment is used in conveyor automation, security systems, parking and building IoTs as well. These equipments are getting integrated into some of the highly advanced systems.

Pharmaceuticals, oil and gas, food and beverages, automotives, power and energy also actively involve these controllers. Recently there has been a rising demand for automatic security systems and these are getting increasingly adopted in in many offices and buildings. Micro programmable logic controllers are used here. All these factors are increasing the micro programmable logic controller market growth.

"Emergence of Industry 4.0 to Impede Market Growth"

Emergence and growth of industry 4.0 or advanced industrialization has created many growth opportunities for the market. Rapid urbanization is another factor that has increased the market share. Compact automation solutions are in demand. This will inurn create a good market for the controllers.

Sophisticated sensors are getting created. These require very less power. Also, the micro programmable logic controllers do not require the traditional hardwiring. They also do not get affected to noise, vibrations, and other factors like severe temperatures. These are prone to bring vast development for the market.

RESTRAINING FACTOR

"Increasing Risk of Security to Bring Down Market Share"

Micro programmable logic controllers are exposed to the risk of vulnerabilities. This will directly affect the entire security system. Problems faced with security can bring down the market growth.

Apart from security threats the high costs involved in developing these controllers is a major disadvantage. Expandability of these devices has cost the market a lot. The increasing oil and gas prices are also expected to obstruct the market in future years.

Micro Programmable Logic Controller Market Regional Insights

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"Asia Pacific to Dominate Market Share "

The region that is leading the micro programmable logic controllers’ market is Asia Pacific. The major reason for this development is the rapidly growing technology in this region. Many countries in Asia Pacific like Japan, South Korea, and China are preparing robots.

Increasing development of robots in Asia Pacific is resulting in increasing demand for production automation. High engagement of several countries in research and development is also accelerating the market growth in Asia Pacific. Also the usage of these controllers has increased in many sectors especially in security and automotives.

Key Industry Players

"Leading Players adopt Acquisition Strategies to Stay Competitive "

Several players in the market are using acquisition strategies to build their business portfolio and strengthen their market position. In addition, partnerships and collaborations are among the common strategies adopted by companies. Key market players are making R&D investments to bring advanced technologies and solutions to the market.

List of Market Players Profiled

• Mitsubishi (Japan)
• OMRON (Japan)
• Rockwell Automation (U.S.)
• Schneider Electric (France)
• Siemens (Germany)
• ABB (Switzerland)
• Beckhoff (Germany)
• Bosch Rexroth (Germany)
• GE (U.S.)
• Hitachi (Japan)
• Honeywell (U.S.)
• IDEC (Japan)
• Yaskawa (Japan)
• Yokogawa (Japan)

Report Coverage

The report provides an insight into the industry from both the demand and supply sides. Further, it also gives information on the impact of COVID-19 on the market, the driving and the restraining factors along with the regional insights. Market dynamic forces during the forecast period have also been discussed for the better understanding of the market situations. On reading the report the user will be able to understand and interpret all the aspects of the market. Additional information regarding key industry players is provided to understand competition in the market.