Micro Programmable Logic Controller (PLC) Market to Grow by USD 2.37 Billion from 2024-2028, Driven by Demand for Compact Automation and AI Trends

NEW YORK, Sept. 30, 2024 /PRNewswire/ -- Report on how AI is redefining market landscape- The global micro programmable logic controller (PLC) market size is estimated to grow by USD 2.37 billion from 2024-2028, according to Technavio. The market is estimated to grow at a CAGR of almost 7.08% during the forecast period. Increasing demand for compact automation solutions is driving market growth, with a trend towards expanding capabilities of micro PLCs However, growing cybersecurity concerns poses a challenge. Key market players include ABB Ltd., Advantech Co. Ltd., Beckhoff Automation, Beijer Electronics Group AB, Eaton Corp. Plc, Festo SE and Co. KG, Fuji Electric Co. Ltd., Hitachi Ltd., Honeywell International Inc., IDEC Corp., Lenze SE, Mitsubishi Electric Corp., OMRON Corp., Parker Hannifin Corp., Robert Bosch Stiftung GmbH, Rockwell Automation Inc., Schneider Electric SE, Siemens AG, Toshiba Corp., and Yaskawa Electric Corp..

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              Micro Programmable Logic Controller (Plc) Market Scope



     Report Coverage                                                   
     Details



     Base year                                                                                                                                                                                                                                                2023



     Historic period



     Forecast period                                                   
     2024-2028



     Growth momentum & CAGR                                                                                                                                                                                                          Accelerate at a CAGR of 7.08%



     Market growth 2024-2028                                           
     USD 2371.9 million



     Market structure                                                  
     Fragmented



     YoY growth 2022-2023 (%)                                                                                                                                                                                                                                6.49



     Regional analysis                                                 
     APAC, North America, Europe, South America, and Middle East and Africa


      Performing market contribution                                                                                                                                                                                                                    APAC at 38%



     Key countries                                                     
     US, China, Japan, Germany, and UK



     Key companies profiled                                              ABB Ltd., Advantech Co. Ltd., Beckhoff Automation, Beijer Electronics Group AB, Eaton Corp. Plc, Festo SE and Co. KG, Fuji Electric Co. Ltd., Hitachi Ltd., Honeywell International Inc.,
                                                                           IDEC Corp., Lenze SE, Mitsubishi Electric Corp., OMRON Corp., Parker Hannifin Corp., Robert Bosch Stiftung GmbH, Rockwell Automation Inc., Schneider Electric SE, Siemens AG, Toshiba
                                                                           Corp., and Yaskawa Electric Corp.

Market Driver

Micro Programmable Logic Controllers (PLCs) have gained significant traction in process and discrete industries due to their flexibility, ease of use, communication capabilities, and cost-effectiveness compared to traditional PLCs. Initially designed for controlling small machinery with basic serial communication, micro PLCs have evolved with technological advances to manage large machines and support multiple communication protocols. Vendors have expanded micro PLC offerings with high-speed communication capabilities, larger program memory, and additional features to enhance their functionality. These developments position micro PLCs as a cost-effective option for various process control applications, including data logging, in both process and discrete industries. The market for micro PLCs is expected to grow substantially due to these product enhancements and the increasing demand for compact, efficient, and affordable automation solutions.

The Programmable Logic Controller (PLC) market is thriving, with key trends including Micro PLC and Nano PLC for miniaturization in various industries. Fixed, Modular PLCs cater to industrial purposes in sectors like Oil & Gas, Power, and Steel. Programming tools, simulation, and motion control are essential for efficient operation. Redundancy software ensures reliability in Robotics and Assembly lines. Input devices, Human Machine Interface, and IIoT-connected devices enhance productivity. The Automotive, Technology, and Energy sectors leverage PLCs for Industrial Automation. Hardware, Services, and Software segments offer solutions for Industrial processes, AI, IoT, Edge computing, and Energy-efficient solutions. Building automation, HVAC systems, and lighting systems also benefit from PLC technology. The Offering segment continues to grow, driven by the demand for advanced PLCs in diverse industries.

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Market Challenges

    --  Micro Programmable Logic Controllers (PLCs) are essential components of
        automation solutions in various industries, enhancing productivity and
        efficiency. However, the increasing use of connected devices and
        web-based communication in industrial processes has heightened the risk
        of cyberattacks. Critical infrastructure sectors, such as oil and gas,
        power, and water and wastewater, are particularly vulnerable.
        Cybercriminals can exploit these networks to gain unauthorized access to
        sensitive data, leading to operational failures or data manipulation.
        The oil and gas industry, for instance, faces significant risks as data
        breaches can halt operations and result in financial or intellectual
        losses. Vendors offer defensive measures, such as anti-malware, to
        secure data. However, these solutions may not be foolproof. An attack on
        one system can compromise the entire network, potentially affecting
        multiple interlinked systems. Therefore, the growing cybersecurity
        threats pose a significant challenge to the growth of the global micro
        PLC market.
    --  The Micro Programmable Logic Controller (PLC) market is witnessing
        significant growth in various industries, including automotives,
        technology, steel, power, food and beverages, and oil & gas. Industrial
        automation is a key driver, with PLCs playing a crucial role in managing
        industrial processes. The automotive sector is adopting PLCs for engine
        control, transmission control, and fuel injection systems. In the
        technology sector, the integration of artificial intelligence and
        Internet of Things (IoT) is driving demand for PLCs in IoT-connected
        devices, edge computing, and energy-efficient solutions. The hardware
        segment, particularly miniaturized PLCs, is gaining popularity due to
        their compact size and energy efficiency. The offering segment includes
        services, software, and hardware, with software solutions providing
        human machine interface and programming capabilities. The power
        industry, building automation, home automation, and lighting, HVAC, and
        security systems are other major applications.

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Segment Overview

This micro programmable logic controller (plc) market report extensively covers market segmentation by

    1. End-user
        --  1.1 Automotive industry
        --  1.2 Oil and gas industry
        --  1.3 Power industry
        --  1.4 Food and beverage industry
        --  1.5 Others
    2. Product
        --  2.1 Hardware
        --  2.2 Software
        --  2.3 Services
    3. Geography
        --  3.1 APAC
        --  3.2 North America
        --  3.3 Europe
        --  3.4 South America
        --  3.5 Middle East and Africa

1.1 Automotive industry- The automotive industry is a significant market for micro programmable logic controllers (PLCs), as they facilitate the control of multiple machinery used in manufacturing processes. Micro PLCs serve as a crucial link between various manufacturing stages, including design, analysis, inventory management, and distribution. In the automotive sector, micro PLCs ensure precise control over manufacturing processes, optimizing process parameters and device functionality. Despite a decline in the automotive industry's growth due to the COVID-19 pandemic and reduced capital expenditure (CAPEX) in 2020, the market for micro PLCs in this sector is poised for recovery. Technavio anticipates that the shift towards smart factories and increased investments, particularly in APAC countries like India, Indonesia, and Japan, will drive substantial growth in the micro PLC market for the automotive industry during the forecast period.

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Research Analysis

Micro Programmable Logic Controllers (PLCs), also known as Nano PLCs, are compact automation solutions designed for industrial purposes. These advanced devices offer functionality similar to traditional Fixed, Modular PLCs but in a smaller form factor. Micro PLCs are gaining popularity in various sectors including automotives, technology, steel, power, oil & gas, energy, and more. With the integration of Artificial Intelligence (AI) and Internet of Things (IoT), Micro PLCs have become smarter, enabling predictive maintenance and real-time data analysis. The hardware segment of the Micro PLC market is witnessing significant growth due to miniaturization and increasing demand for compact automation solutions. Industrial automation applications, Human Machine Interface (HMI) integration, and ease of programming are other key factors driving the market growth.

Market Research Overview

Micro Programmable Logic Controllers (PLCs), also known as Nano PLCs, are compact and cost-effective automation solutions for industrial applications. They offer the functionality of traditional Fixed, Modular PLCs in a smaller form factor, making them ideal for space-constrained environments. Micro PLCs are widely used in various sectors including Oil and Gas, Power, and Automotive, among others. They support programming tools, simulation, motion control, redundancy software, robotics, and various input devices. Industries like Steel, Power, Food and Beverages, and Energy rely on Micro PLCs for automating assembly lines, industrial robots, and various industrial processes. With the advent of technology, Micro PLCs are being integrated with Artificial Intelligence, Internet of Things (IoT), and Edge Computing to offer energy-efficient solutions and real-time monitoring capabilities. The market for Micro PLCs includes hardware, services, and software offerings, catering to the needs of diverse industries. Applications range from HVAC systems, lighting systems, security systems, engine control, transmission control, fuel injection, and more. The Miniaturization trend in PLCs is leading to the development of IoT-connected devices and IIoT solutions, further expanding their application base.

Table of Contents:

1 Executive Summary
2 Market Landscape
3 Market Sizing
4 Historic Market Size
5 Five Forces Analysis
6 Market Segmentation

    --  End-user
        --  Automotive Industry
        --  Oil And Gas Industry
        --  Power Industry
        --  Food And Beverage Industry
        --  Others
    --  Product
        --  Hardware
        --  Software
        --  Services
    --  Geography
        --  APAC
        --  North America
        --  Europe
        --  South America
        --  Middle East And Africa

7 Customer Landscape
8 Geographic Landscape
9 Drivers, Challenges, and Trends
10 Company Landscape
11 Company Analysis
12 Appendix

About Technavio

Technavio is a leading global technology research and advisory company. Their research and analysis focuses on emerging market trends and provides actionable insights to help businesses identify market opportunities and develop effective strategies to optimize their market positions.

With over 500 specialized analysts, Technavio's report library consists of more than 17,000 reports and counting, covering 800 technologies, spanning across 50 countries. Their client base consists of enterprises of all sizes, including more than 100 Fortune 500 companies. This growing client base relies on Technavio's comprehensive coverage, extensive research, and actionable market insights to identify opportunities in existing and potential markets and assess their competitive positions within changing market scenarios.

Contacts

Technavio Research
Jesse Maida
Media & Marketing Executive
US: +1 844 364 1100
UK: +44 203 893 3200
Email: media@technavio.com
Website: www.technavio.com/

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SOURCE Technavio