PUBLISHER: Stratistics Market Research Consulting | PRODUCT CODE: 1258901
PUBLISHER: Stratistics Market Research Consulting | PRODUCT CODE: 1258901
According to Stratistics MRC, the Global Programmable Automation Controller Market is accounted for $11.3 billion in 2022 and is expected to reach $17.2 billion by 2028 growing at a CAGR of 7.2% during the forecast period. The control of multiple pieces of equipment can be automated using a PC and programmable logic controller combined with multitasking capabilities. It offers a combination of elements from conventional automation technologies such personal computers, programmable logic controllers, distributed control systems, and remote terminal units. This one-of-a-kind multi-discipline development platform manages many tasks across many domains and provides precise and timely data.
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.
The market's adoption has been fueled by the growing demand for automation as well as technological developments. A growing desire for higher productivity and quality is a result of increased industrial competition. Users have additional control over the control systems thanks to programmable automation controllers. Demands for better machine agility and the growing requirement for system performance are further driving up market demand.
These systems need training to be used at their highest level of efficacy and efficiency, just like any new piece of technology. The operation of a complete production line can be maintained by the user after training. The device runs on a set circuit. PLC functionality is restricted in high-temperature and vibrating environments. The market's expansion is being limited by these elements.
They can function for extended periods of time since they are built to be dependable and strong. They are therefore perfect for usage in situations such as industrial and manufacturing ones where continuous functioning is crucial. Many processes and pieces of machinery can be configured to be controlled by them. This makes them appropriate for application in a range of industries, which is fueling the market's expansion.
Regular maintenance is essential to make sure that these control systems remain in excellent operational order. Costs might vary significantly depending on the size and complexity of the controller. Nonetheless, they provide productivity and efficiency at a high upfront investment. Manufacturer-specific settings for the Logic function make simple changes to it difficult. High initial and maintenance cost are the major factors limiting the growth of the market.
Owing to COVID-19, the creation plants were either shut down or operating within their capacity, which had an impact on the sale of new goods. Deals, stock association, and social event rehearsals were also hindered. The development, gathering, staying, and business associations were all severely disrupted by the corona virus's ejection. Making rehearsals was also finished or greatly restricted. Transportation and progress are successful, but local businesses' supply chains are generally hindered.
The software segment is estimated to have a lucrative growth, due to the rapidly rising need for automation and the increasing technological advancements in sensors, machine size, software, the market is witnessing high growth. The use will place a stronger emphasis on open communication protocols and software integration while paying less attention to the hardware. Increase in industrialization and expansion of manufacturing facilities across several locations is propelling the region growth.
The construction segment is anticipated to witness the fastest CAGR growth during the forecast period, due to they are employed in a variety of industrial verticals for scalable applications. Programmable automation controllers, which employ cutting-edge and integrated computer technology, are replacing industrial PCs. Industrial computer resilience and processing efficiency, are both enhanced by their open architectural feature. This is due to the fact that they employ network technology and standard protocols.
Asia Pacific is projected to hold the largest market share during the forecast period owing to high growth, benefiting from significant investments in automation. The initiation of numerous power generation and Greenfield projects in the region has driven the demand. With the growing labour cost, it is rapidly transforming its manufacturing hub from a medium to a high-tech, which is further likely to propel the market growth.
North America is projected to have the highest CAGR over the forecast period, owing to rapid technological and sensor developments. The developed industrial and manufacturing sector already drives automation. Thus, ongoing rapid industrialization is responsible for the significant adoption across the region. Furthermore, increasing usage of industrial robots and research and development is fuelling the growth of the region.
Some of the key players profiled in the Programmable Automation Controller Market include: Rockwell Automation, Inc., Siemens AG, Schneider Electric SE, Delta Energy Systems, Inc., Artila Electronics Co. Ltd., Omron Corporation, General Electric, ICP DAS USA, Inc., Advantech Co., Ltd., ABB Ltd., Emerson Electric Company, Intelligent Motor Control Limited, Stirling Technical Engineering Ltd., Yokogawa Electric Corporation and MKS Instruments.
In August 2022, OMRON introduced i-DMP (i-BELT Data Management Platform) for quick data-driven solution service implementation. This innovative data-driven solution will help the clients resolve their problems quickly and efficiently by streamlining the integrated management of various data types, which has never been used to enhance factory floors.
In 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.
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