LONDON--(BUSINESS WIRE)--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. Request free sample pages
Read the 177-page report with TOC on “Micro Programmable Logic Controller (PLC) Market Analysis Report by Geography (APAC, Europe, MEA, North America, and South America), Product (Hardware, Software, and Services), End-Users (Automotive industry, Oil and gas industry, Water and wastewater industry, Power industry, Food and beverage industry, and Other industries), and the Segment Forecasts, 2020-2024”.
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.
Manufacturers are increasingly adopting smart factories to improve efficiency and productivity with the help of innovative technologies. For instance, in March 2018, ABB opened its new smart factory to manufacture electrical safety and energy efficiency products in Bengaluru, India. Similarly, in December 2019, Siemens opened launched its new 3D printing smart factory in Worcester, UK. Many such investments in the development of smart factories will drive the demand for micro PLCs during the forecast period.
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Major Five Micro PLC Companies:
Bosch Rexroth AG
Bosch Rexroth AG operates the business through 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 its Products segment. MICRO-EHV+ is one of the key offerings of the company. The product series include MV-D40DTPS, MV-D40DT, MV-D40DR, MV-A40DR, and others.
IDEC Corp. operates the 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. operates the 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 key offerings of the company.
OMRON Corp. operates the business across various segments such as Industrial automation, Electronic and mechanical components, Automotive electronic components, Social systems, solutions, and Service, Healthcare, and Others. 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.
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Micro Programmable Logic Controller Product Outlook (Revenue, USD Billion, 2020 - 2024)
Micro Programmable Logic Controller End-Users 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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