TMCnet News
High Capital Expenditure by the Automotive Industry to Drive the Global PLC Market Through 2020, Says TechnavioAccording to the latest market study released by Technavio, the global programmable logic controller (PLC) market is expected to grow at a CAGR of more than 7% during the forecast period. This research report titled 'Global PLC Market 2016-2020' provides an in-depth analysis of the market in terms of revenue and emerging market trends. This market research report also includes up to date analysis and forecasts for various market segments and all geographical regions. Request sample report: http://goo.gl/urW8oj The report categorizes the global PLC market into three major product segments. They are:
PLC hardware The hardware segment accounts for approximately 65% share of the of the global PLC market. The market growth is attributed to the high adoption of PLC hardware across large industries such as automotive, oil and gas, pulp and paper, and power. Since 2009, PLC hardware manufactured by Siemens, Rockwell Automation, Mitsubishi (News - Alert) Electrical, and Schneider Electric has been increasing, which indicates high adoption of PLC hardware. The hardware segment is further classified into small, nano, large, and medium PLCs. Small PLCs accounted for the largest share in the PLC hardware segment in 2015. "The average selling price of a PLC hardware is expected to decline as a result of intense market competition and the entry of new players in the market," says Bharath Kanniappan, a lead analyst at Technavio for automation research. PLC services The global PLC market revenue from the service segment accounts for approximately 30% of the marke share and it is expected to grow during the forecast period. In order to cut down on the number of people involved in the process, companies choose main automation contractors (MAC) for installing PLC systems in their plants. The MAC coordinates, installs, and maintains all automation and related activities for end-users. It also coordinates with other automation manufacturers to provide end-user automation solutions and products that were previously not available. These measures help MAC save almost 10%-30% of the total PLC usage costs, when compared to the traditional multi-vendor approach. MAC operates in response to enquiries raised by end-users. Consultants make a quick assessment of the requirement and generate a detailed analysis of the initial process requirements. On finalizing project requirements, MAC formulates front-end design and engineering to address requirements of end-users. This is followed by the procurement of automation solution products. MAC complements the functions of engineering, procurement, and construction (EPC) projects. In addition, MAC finalizes the installation and commissioning of solutions in the process line and is also responsible for maintenance and service support. PLC software There are many PLC software providers in the market as the profit margin is high, thus making it a lucrative business option. Vendors offer multiple options for PLC software license, including the one that restricts users' in terms of data point and functions. End-users have to purchase a separate license for technical support, annual maintenance, and periodic updates and upgrades. "The cost of a software license is based on its applications. However, ASPs of these software modules are expected to decline during the forecast period, which may erode the market share of the PLC software segment during the forecast period," says Bharath. The top vendors highlighted by Technavio's research analysts in this report are: Browse Related Reports:
Purchase these three reports for the price of one by becoming a Technavio subscriber. Subscribing to Technavio's reports allows you to download any three reports per month for the price of one. Contact [email protected] with your requirements and a link to our subscription platform. About Technavio Technavio is a leading global technology research and advisory company. The company develops over 2000 pieces of research every year, covering more than 500 technologies across 80 countries. Technavio has about 300 analysts globally who specialize in customized consulting and business research assignments across the latest leading edge technologies. Technavio analysts employ primary as well as secondary research techniques to ascertain the size and vendor landscape in a range of markets. Analysts obtain information using a combination of bottom-up and top-down approaches, besides using in-house market modeling tools and proprietary databases. They corroborate this data with the data obtained from various market participants and stakeholders across the value chain, including vendors, service providers, distributors, re-sellers, and end-users. If you are interested in more information, please contact our media team at [email protected]. View source version on businesswire.com: http://www.businesswire.com/news/home/20160601005053/en/ |
