Programmable Logic Controller (PLC) Market Size & Share, by Type (Software, Hardware); Product Type (Modular PLC, Compact PLC, Rack PLC); End User (Food & Beverage, Automotive, Chemical & Petrochemical, Pulp & Paper, Oil & Gas, Pharmaceutical, Water & Wastewater Treatment, Energy & Utilities)- Global Supply & Demand Analysis, Growth Forecasts, Statistics Report 2024-2036

Growth Drivers

• Rising Need to Reduce the Downtime- Downtime may be extremely costly to a business when it comes to both maintenance costs and production losses. Inadvertent downtime, in particular, can raise the risk of occupational casualties and environmental issues, such as unintentional fuel spills. Since so much of the company depends on technology working smoothly, the cost of downtime in the enterprise market is valued at more than USD 1 million per hour and can exceed USD 5 million, without penalties or sanctions.
• Trend Shifting from Mass Production to Mass Customization– Innovative technologies such as program logic controllers, have resulted in advancements in mass customization as well as assembly and manufacturing processes that use additive manufacturing. They also assisted in the implementation of mass customization on a more detailed level. Automation, computer-integrated manufacturing and modeling, computer-aided design and manufacturing (CAD/ CAM), and flexible manufacturing systems (FMS) are important technologies in mass customization. One of the major advantages of mass customization is the possibility of waste reduction and more sustainable development. Manufacturers can decrease excess inventory and wasted resources by creating only what is required.  Furthermore, mass customization enables cost savings and enhanced efficiency.
• Higher Implementation of Smart Traffic Control– Many rich countries, like the United States, Australia, Russia, and the United Kingdom, have worked for the creation of intelligent traffic management systems. India, a developing country, is also developing a smart traffic management system. Vehicle sales are increasing in emerging markets, resulting in more traffic on the highways. The strategy was developed by determining when the traffic lights should respond. The controller evaluates the priority and transmits an exit signal to the traffic light post, which activates or deactivates the red, yellow, or green lights.
• Initiatives Taken by Private Companies to Boost the Use of PLC - Rockwell Automation and FANUC America have collaboratively developed upgraded work-and-learn training programs focused on upskilling current and prospective workers for employment in advanced manufacturing, robotics, and automation. The program also offers a certification for PLC Technicians.

Challenges

• Risk of Cyber Threats to Security - PLCs are growing increasingly subject to cybersecurity threats as they become more linked and integrated into larger systems. Protecting PLCs from cyber-attacks and ensuring the security of industrial control systems is a big challenge. When a PLC assault occurs, the information communicated from the PLC is combined in such a way that it opens a security breach and installs malicious malware on the workstation. After hacking the computer system, the attacker can go on to other network systems.
• End Users of PLC Works Under Strict Regulation Regarding Safety and Maintenance
• Lack of Skilled Programmers and Technicians for PLC.