Global micro programmable logic controller market poised to grow by USD 1.68 billion during 2020-2024
Technavio has been monitoring the global micro programmable logic controller market since 2016 and the market is poised to grow by USD 1.68 billion during 2020-2024, progressing at a CAGR of nearly 6% during the forecast period.
The market is driven by growing investments in smart factories. In addition, increasing focus on expanding the capabilities of micro PLCs is anticipated to boost the growth of the micro programmable logic controller market.
Smart factories involve the interlinking of instruments such as sensors and actuators, industrial machinery, and automation solutions over a communication network. This enables manufacturers to capture real-time information and remotely control machinery. Owing to such benefits, manufacturers across the world are increasingly adopting smart factories to improve efficiency and productivity. The rising adoption of smart factories will increase the need for micro PLCs leading to market growth during the forecast period.
Major Five Micro PLC Companies:
Bosch Rexroth AG
Bosch Rexroth AG owns and operates its business across various segments such as products, industries, and service. The company offers a modular CML control platform for a variety of PLC, Motion Logic, and CNC applications.
Hitachi Industrial Equipment Systems Co. Ltd.
Hitachi Industrial Equipment Systems Co. Ltd. offers a wide range of PLCs through the products segment. MICRO-EHV+ is one of the key offerings of the company. The product series includes MV-D40DTPS, MV-D40DT, MV-D40DR, MV-A40DR, and others.
IDEC Corp. owns and operates its business across various segments such as HMI solutions, panel solutions, automation solutions, safety and explosion protection solutions, and new businesses. The company offers a wide range of micro PLCs. Some of the key products offered by the company include Micro Smart FC6A and SmartAXIS.
Mitsubishi Electric Corp.
Mitsubishi Electric Corp. owns and operates its business across various segments such as energy and electric systems, industrial automation systems, information communication systems, electronic devices, home appliances, and others. Nexgenie 2000+ PLC is one of the popular products offered by the company.
OMRON Corp. owns and operates the business across various segments such as industrial automation, electronic and mechanical components, automotive electronic components, social systems, solutions, and service, healthcare, and other. The company offers a wide range of micro PLCs. Some of the products offered by the company include CP2E CPU Unit, CP1H CPU Unit, CP1L CPU Unit, and CP1E CPU Unit.
Micro Programmable Logic Controller Product Outlook (Revenue, USD Billion, 2020 - 2024)
Micro Programmable Logic Controller End-User Outlook (Revenue, USD Billion, 2020 - 2024)
- Automotive industry
- Oil and gas industry
- Power industry
- Food and beverage industry
- Water and wastewater industry
- Other industries
Micro Programmable Logic Controller Regional Outlook (Revenue, USD Billion, 2020 - 2024)
- North America
- South America
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