Programmable Logic Controller Market size is set to reach USD 18 Billion by the end of 2036, expanding around 5% CAGR during the forecast period, i.e., 2024-2036. In the year 2023, the industry size of programmable logic controller was over USD 12 Billion. The growth of the market can be attributed to the growing integration of automation in several industries and companies. Workflow automation is required for boosting production according to 83% of IT leaders. Currently, 48% of organizations are implementing automation solutions to automate manual operations. Moreover, around 24% of businesses employ low-code process automation technologies, with 29% planning to do so shortly. These systems assist businesses in streamlining workflows, making better use of data, and conserving time and money.
In addition to this, the rising acceptance of renewable energy, which has increased the installation of solar and wind energy facilities, is thought to be fueling the programmable logic controller market expansion. Programmable logic controllers operate wind turbines, solar panels, and hydropower plants. They are also utilized to control and monitor the electricity through the system. They enable more accurate system control, improving efficiency and reducing waste. They may additionally monitor the system's functioning in real-time, identifying flaws and enabling for timely maintenance and adjustment. Between 2022 and 2027, global solar PV capacity is predicted to nearly triple, displacing coal as the world's largest source of electricity capacity. Over the projection period, global wind capacity nearly doubled, with offshore projects contributing to one-fifth of the increase. Over the next five years, wind and solar will account for more than 90% of new renewable electricity capacity added.
Growth Drivers
Challenges
Base Year |
2023 |
Forecast Year |
2024-2036 |
CAGR |
~5% |
Base Year Market Size (2023) |
~ USD 12 Billion |
Forecast Year Market Size (2036) |
~ USD 18 Billion |
Regional Scope |
|
Product Type (Modular PLC, Compact PLC, Rack PLC)
The modular PLC segment in the programmable logic controller market is estimated to gain the largest revenue share of about 65% in the year 2036. The increased efficiency of current PLCs over compact and rack one in the automated manufacturing processes can contribute to the segment's rise. Modern PLCs are primarily integrated for more complex uses, such as computer vision-based quality control, AI-driven shipping, and predictive maintenance. They have significantly greater power than the other two PLCs. Modular PLCs are commonly used in applications that require a large number of inputs in addition to outputs, including process management in the manufacturing industry. As a result, it can store a large amount of data and execute multiple activities.
End User (Food & Beverage, Automotive, Chemical & Petrochemical, Pulp & Paper, Oil & Gas, Pharmaceutical, Water & Wastewater Treatment, Energy & Utilities)
Programmable logic controller (PLC) market from the automotive segment is expected to garner a significant share of around 30% in the year 2036. The growth of the segment is majorly attributed to the rising integration of automation and robots in automotive manufacturing. The automotive sector employs the most robots in facilities around the world, with operational stock exceeding one million units. This is almost one-third of the total installed across all industries. Most automakers that have previously invested in traditional industrial robots for basic assembly are now investing in collaborative applications for the final putting together and finishing activities. This is projected to change as automotive robotic get smaller, more versatile, and easier to program.
Our in-depth analysis of the global programmable logic controller market includes the following segments:
Type |
|
Product Type |
|
End User |
|
North American Market Forecast
The programmable logic controller market in North America is projected to be the largest with a share of about 35% by the end of 2036. The growth of the PLC market can be attributed majorly to the growing transformation of the industries and higher adoption of automation and robotic process automation. Companies in North America increased their expenditure on industrial robots in the first quarter as they tried to meet growing demand in the aftermath of the COVID-19 pandemic. According to the Association for Advancing Automation, North American corporations ordered around 9,000 robots in the first quarter of 2022, an approximate 20% increase over the previous year. The total value of the orders exceeded USD 466 million.
European Market Statistics
The European programmable logic controller market is estimated to be the second largest, registering a share of about 28% by the end of 2036. The growth of the PLC market can be attributed majorly to the rising investment in the fourth revolution of automation. Europe has emerged as the most notable industrial automation adopter as a result of growing investments in the Industry 4.0 revolution. Europe accounts for more than one-third of worldwide Industry 4.0 investments, according to the CBI Ministry of Foreign Affairs.
Author Credits: Abhishek Verma
Copyright © 2024 Research Nester. All Rights Reserved
FREE Sample Copy includes market overview, growth trends, statistical charts & tables, forecast estimates, and much more.
Have questions before ordering this report?