Programmable Automation Controllers market segments, driver, restraints, and trends
Programmable Automation Controllers Market Report 2024 – Market Size, Trends, And Forecast 2024-2033
The Business Research Company’s Programmable Automation Controllers Global Market Report 2024 – Market Size, Trends, And Forecast 2024-2033
LONDON, GREATER LONDON, UK, June 24, 2024 /EINPresswire.com/ -- The programmable automation controllers market has experienced robust growth in recent years, expanding from $6.84 billion in 2023 to $7.25 billion in 2024 at a compound annual growth rate (CAGR) of 5.9%. The growth in the historic period can be attributed to introduction of programmable logic controllers, advancements in microprocessor technology, integration of human-machine interface (HMI), open architecture standards, industry 4.0 initiatives.
Strong Future Growth Anticipated
The programmable automation controllers market is projected to continue its strong growth, reaching to $9.23 billion in 2028 at a compound annual growth rate (CAGR) of 6.2%. The growth in the forecast period can be attributed to increasing adoption of IoT, rising need for operational efficiency, demand for flexibility and scalability, focus on energy efficiency, emergence of edge computing.
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Growth driver of the programmable automation controllers market
The increasing demand for automation in various industries is expected to propel the programmable automation controller market going forward. Automation refers to integrating technologies and systems to perform tasks and processes with minimal human intervention. The increase in automation is due to efficiency and productivity, cost reduction, quality improvement, supply chain optimization, and demand for customization. Industrial automation is a programmable automation controller to modernize manufacturing processes, enhance productivity, and provide powerful processing capabilities.
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Major Players and Market Trends
Key players in the programmable automation controllers market include Siemens AG, General Electric Company, Mitsubishi Electric Corporation, Schneider Electric SE, Honeywell International Inc., ABB Ltd.
Major companies operating in the programmable automation controllers market are developing advanced systems such as flexible logic controllers to support scalable automation, minimize downtime, and increase productivity. Programmable logic controller (PLC) is a specialized industrial computer used to automate electromechanical processes such as control of machinery on factory assembly lines, amusement rides, or lighting fixtures.
Segments:
1) By Type: Integrated Type, Distributed Type, I/O Type
2) By Product: Hardware, Software
3) By Application: Oil And Gas, Machine Manufacturing, Electrical And Electronics, Aerospace And Defense, Chemical, Pharmaceuticals, Automotive And Transportation, Other Applications
Geographical Insights: Asia-Pacific Leading the Market
Asia-Pacific was the largest region in the programmable automation controllers market in 2023. It is driven by expanding healthcare facilities and increasing awareness of the benefits of programmable automation controllers.
Programmable Automation Controllers Market Definition
Programmable automation controllers (PACs) refer to advanced industrial control devices that combine the capabilities of traditional programmable logic controllers (PLCs) with those of industrial computers. It plays a crucial role in modernizing industrial automation, enabling manufacturers to achieve higher productivity levels, flexibility, and competitiveness in today's dynamic market environment.
Programmable Automation Controllers Global Market Report 2024 from TBRC covers the following information:
•Market size data for the forecast period: Historical and Future
•Market analysis by region: Asia-Pacific, China, Western Europe, Eastern Europe, North America, USA, South America, Middle East and Africa.
•Market analysis by countries: Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA.
Trends, opportunities, strategies and so much more.
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