PLC Market Technology Innovation and Current Business Trends by 2024: Global Market Insights, Inc. Global Programmable Logic Controller Market is expected to gain momentum during the period of seven years owing to wide applications in industries including aerospace & defense, automotive, food & beverage, pharmaceuticals, petroleum & chemicals, textile, printing, and plastics. These components have exceptional functional features such as ease of programming, sequential control, ease of usage, and reliable performance & process control capabilities. Due to these features, the industries are adopting these components in control systems. The heavy industrial manufacturing sector is increasingly utilizing intelligent machine tools to enhance productivity. In light of industrial revolution, intelligent machining tools are using smart devices and components such as PLCs and smart sensors to cater to the requirements of industries such as food & beverage, petrochemical, and automobile. These components control a wide array of applications ranging from lighting functions to controlling environmental conditions such as in chemical industries. Increasing automation in industries is expected to propel the PLC market growth over the next seven years.
In addition to the industrial use of these components, the PLC industry is projected to gain momentum over the forecast time span owing to increased applications in commercial applications such as elevators, traffic controls, and washing machines. Growing consumer trend toward the adoption of intelligent machines has encouraged the vendors of commercial products, such as washing machines, to implement these components in the devices, aiding the PLC market growth. The complexity in the industrial control software is increasing and proper & efficient software is necessary to produce reliable, robust, & reusable software. This is expected to hamper the industry growth over the forecast time span. The International Electrotechnical Commission (IEC) has developed a set of standards for programmable control systems. This has simplified the standards-based reporting which allows accurate and meaningful reporting. These components have limited performance in high-temperature and vibration conditions. Due to these limitations, the usability of these components reduces to a large extent. This is expected to decelerate the PLC market over the forecast time span. However, the manufacturers are designing robust components to improve the performance of these systems. In industrial automation, these components require communication with other control levels for monitoring & reporting functions and identifying errors in processes. With the increasing volume of data these components have to manage, high-speed connections have become a requirement for reliable and secure data flow. Companies 1|Page