Programmable Logic Controller (PLC) Market Size to Grow by USD 3,289.73 million from 2022 to 2027, The demand for PLCs in renewable power generation to boost the growth - Technavio
NEW YORK, May 26, 2023 /PRNewswire/ -- The global programmable logic controller (PLC) market size is estimated to increase by USD 3,289.73 million from 2022 to 2027. The market's growth momentum will progress at a CAGR of 4.1% during the forecast period. The demand for PLCs in renewable power generation to drive market growth during the forecast period. Several solar panels are arranged in an array to form a solar PV farm. These solar panels must be monitored for current and voltage in order to operate at their best. Also, a data-logging system is required to monitor environmental and operational parameters. Users can store data and retrieve it from this data logger as needed, which keeps them informed about the behavior and performance of the solar panels. As a result of the improvements in power generation technology and regulatory support for renewable energy projects, both solar and wind power have seen rapid growth. Hence, the need for the proper handling of these energy sources will augment the demand for PLCs for efficient data handling, monitoring, and control capabilities, which will drive the growth of the global programmable logic controller market during the forecast period. Discover some insights on market size historic period (2017 to 2021) and Forecast 2023-2027 before buying the full report -Request a sample report
Programmable logic controller (PLC) market – Vendor Analysis
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Programmable Logic Controller (PLC) Market - Segmentation Assessment
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Programmable Logic Controller (PLC) Market – Market Dynamics
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The programmable logic controller (PLC) market in APAC is projected to grow by USD 880.06 million with a CAGR of 3.86% during the forecast period 2021 to 2026. Furthermore, this report extensively covers the programmable logic controller (PLC) market in APAC segmentation by end-user (process industry, discrete industry, and building automation) and geography (APAC). The increasing demand for compact automation solutions is one of the key factors driving the global programmable logic controller (PLC) market growth in Asia-Pacific.
The special purpose logic IC market size is estimated to grow at a CAGR of 6.56% between 2022 and 2027. The special purpose logic IC market size is forecast to increase by USD 35.14 billion. This special purpose logic IC market report extensively covers market segmentation by application (communications, computing, consumer electronics, and others), type (programmable logic ICs, high-end programmable logic ICs, and others), and geography (APAC, North America, Europe, South America, and Middle East and Africa). The high adoption of smartphones and tablets is notably driving the market growth.
Table of Contents
1 Executive Summary
2 Market Landscape
3 Market Sizing
4 Historic Market Size
5 Five Forces Analysis
6 Market Segmentation by Product
7 Market Segmentation by End-user
8 Customer Landscape
9 Geographic Landscape
10 Drivers, Challenges, and Trends
11 Vendor Landscape
12 Vendor Analysis
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