by PLCs are programmed for specific functions such as to on/off control, timing, counting and logic. They are used for various applications such as to control conveyor belts, pumps, valves and other automated processes for food processing, automatic folding cartons, paper processing as well as machine tool control. PLCs provide rugged, cost-effective control for factory automation with customized, user-friendly programming. PLCs facilitates a quick production start-up and expansion with easy reprogramming.
The global PLC market is estimated to be valued at US$ 14.85 billion in 2024 and is expected to exhibit a CAGR of 6.8% over the forecast period from 2024 to 2030.
Key Takeaways
Key players operating in the programmable logic controller market are HiMedia Laboratories, Thermo Fisher Scientific Inc., Sartorius AG, Merck KGaA, Corning Inc., Atlas Biologicals, Inc., TCS Biosciences Ltd., Bovogen Biologicals Pty Ltd., Novus Biologicals, LLC, Capricorn Scientific, PAN-Biotech GmbH, Atlanta Biologicals, Inc., Rockey Mountain Biologicals, GE Healthcare, Serana, and Zhejiang Tianhang Biotechnology.
The key opportunities in the PLC market include increasing adoption of PLCs in various end use sectors such as food & beverage, pharmaceuticals, oil & gas, automotive, power generation and many others. Development of PLCs with advanced connectivity features such as integration with IoT and cloud-based computing are providing new opportunities to players.
Technological advancements in PLCs include IIoT-enabled PLCs, cloud-based PLCs with remote access, advanced communication capabilities, advanced modular and micro PLC designs and PLCs equipped with sophisticated motion control abilities. PLCs with advanced connectivity features such as integration with Industrial Internet of Things (IIoT) and cloud-based computing are providing new opportunities to market players.
Market Drivers
The major driver for the growth of programmable logic controller market is the growing adoption of industrial automation across different industries. PLCs provide various advantages for industrial automation such as enhanced productivity, reduction in downtime, and high flexibility. PLCs offer rugged, reliable and cost-effective control solutions for a wide variety of industrial applications. The rising demand for customized industrial control solutions accompanied by growth of discrete and process manufacturing industries globally is fueling the demand for PLCs.
Current Challenges in Programmable Logic Controller Market
The Programmable Logic Controller Market Size is facing various challenges currently. The challenges include lack of skilled workforce to operate advanced PLC systems, high initial investment required for deployment of PLCs, maintenance and upgradation issues of older PLC systems, and security concerns regarding cyber threats on PLC networks. Unlike conventional relay-based systems, PLCs require specialized technicians and engineers for programming, configuration, commissioning and maintenance activities. Finding such skilled resources is a major hurdle for end-users currently. Moreover, installing new PLC systems or upgrading existing ones requires substantial capital expenditure which is a barrier especially for small and medium businesses. Issues like obsolete hardware components in older PLC models also increase maintenance and support costs over time. Additionally, growing connectivity of industrial control systems has increased vulnerabilities to cyber-attacks which pose serious security challenges if not properly addressed.
SWOT Analysis
Strength: PLC systems offer advanced automation capabilities with flexibility, versatility and reliability compared to conventional hard-wired controls. They allow easy upgradation, remote monitoring and integration with other systems.
Weakness: High initial investment costs, need for specialized skilled workforce, security vulnerabilities if not properly protected, compatibility issues in integrating different brands of PLCs and hardware components becoming obsolete fast.
Opportunity: Emerging technologies like IoT, AI, cloud computing provide new areas of applications for PLCs. Growing demand from process industries, food & beverages sector offer market expansion opportunities.
Threats: Threat of substitutes like PC-based industrial controls, increasing low-cost automation solutions from Asian markets, vulnerabilities to cyber threats if security is not prioritized.
Geographical Regions
In terms of value, the programmable logic controller market is currently concentrated in North America and Europe due to extensive implementation of PLC systems across industries like oil & gas, automotive, food processing in these regions. The Asia Pacific region is also emerging as a major market led by growing industrial automation adoption in China, India, Japan and South Korea.
Fastest Growing Region
The Asia Pacific region is poised to be the fastest growing regional market for programmable logic controllers over the forecast period from 2024 to 2030. This is attributable to increasing investments in industrial automation, rapid infrastructure development activities and expansion of manufacturing sector across developing countries like China, India and ASEAN nations. Additionally, availability of low-cost PLC systems from regional manufacturers is also fueling adoption rates across small and medium industries.
Note:
1. Source: Coherent Market Insights, Public sources, Desk research
2. We have leveraged AI tools to mine information and compile it
