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Global Micro Programmable Logic Controller (PLC) Market 2020-2024 | Evolving Opportunities with Bosch Rexroth AG and Hitachi Industrial Equipment Systems Co. Ltd. | Technavio

October 30, 2019 GMT
Global Micro Programmable Logic Controller (PLC) Market 2020-2024 | Evolving Opportunities with Bosch Rexroth AG and Hitachi Industrial Equipment Systems Co. Ltd. | Technavio
Global Micro Programmable Logic Controller (PLC) Market 2020-2024 | Evolving Opportunities with Bosch Rexroth AG and Hitachi Industrial Equipment Systems Co. Ltd. | Technavio

LONDON--(BUSINESS WIRE)--Oct 30, 2019--

Technavio has been monitoring the global micro programmable logic controller market since 2016 and the market is poised to grow by USD 1.68 billion during 2020-2024, progressing at a CAGR of nearly 6% during the forecast period. Request free sample pages

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Technavio has announced its latest market research report titled global micro programmable logic controller market 2020-2024. (Graphic: Business Wire)

Read the 177-page report with TOC on “Micro Programmable Logic Controller (PLC) Market Analysis Report by Geography (APAC, Europe, MEA, North America, and South America), Product (hardware, software, and services), End-Users (automotive industry, oil and gas industry, water and wastewater industry, power industry, food and beverage industry, and other industries), and the Segment Forecasts, 2020-2024”.

The market is driven by growing investments in smart factories. In addition, increasing focus on expanding the capabilities of micro PLCs is anticipated to boost the growth of the micro programmable logic controller market.

Smart factories involve the interlinking of instruments such as sensors and actuators, industrial machinery, and automation solutions over a communication network. This enables manufacturers to capture real-time information and remotely control machinery. Owing to such benefits, manufacturers across the world are increasingly adopting smart factories to improve efficiency and productivity. The rising adoption of smart factories will increase the need for micro PLCs leading to market growth during the forecast period.

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Major Five Micro PLC Companies:

Bosch Rexroth AG

Bosch Rexroth AG owns and operates its business across various segments such as products, industries, and service. The company offers a modular CML control platform for a variety of PLC, Motion Logic, and CNC applications.

Hitachi Industrial Equipment Systems Co. Ltd.

Hitachi Industrial Equipment Systems Co. Ltd. offers a wide range of PLCs through the products segment. MICRO-EHV+ is one of the key offerings of the company. The product series includes MV-D40DTPS, MV-D40DT, MV-D40DR, MV-A40DR, and others.

IDEC Corp.

IDEC Corp. owns and operates its business across various segments such as HMI solutions, panel solutions, automation solutions, safety and explosion protection solutions, and new businesses. The company offers a wide range of micro PLCs. Some of the key products offered by the company include Micro Smart FC6A and SmartAXIS.

Mitsubishi Electric Corp.

Mitsubishi Electric Corp. owns and operates its business across various segments such as energy and electric systems, industrial automation systems, information communication systems, electronic devices, home appliances, and others. Nexgenie 2000+ PLC is one of the popular products offered by the company.

OMRON Corp.

OMRON Corp. owns and operates the business across various segments such as industrial automation, electronic and mechanical components, automotive electronic components, social systems, solutions, and service, healthcare, and other. The company offers a wide range of micro PLCs. Some of the products offered by the company include CP2E CPU Unit, CP1H CPU Unit, CP1L CPU Unit, and CP1E CPU Unit.

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Micro Programmable Logic Controller Product Outlook (Revenue, USD Billion, 2020 - 2024)

Micro Programmable Logic Controller End-User Outlook (Revenue, USD Billion, 2020 - 2024)

Micro Programmable Logic Controller Regional Outlook (Revenue, USD Billion, 2020 - 2024)

Technavio’s sample reports are free of charge and contain multiple sections of the report, such as the market size and forecast, drivers, challenges, trends, and more. Request a free sample report

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About Technavio

Technavio is a leading global technology research and advisory company. Their research and analysis focus on emerging market trends and provides actionable insights to help businesses identify market opportunities and develop effective strategies to optimize their market positions.

With over 500 specialized analysts, Technavio’s report library consists of more than 10,000 reports and counting, covering 800 technologies, spanning across 50 countries. Their client base consists of enterprises of all sizes, including more than 100 Fortune 500 companies. This growing client base relies on Technavio’s comprehensive coverage, extensive research, and actionable market insights to identify opportunities in existing and potential markets and assess their competitive positions within changing market scenarios.

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KEYWORD:

INDUSTRY KEYWORD: TECHNOLOGY OTHER MANUFACTURING OTHER TECHNOLOGY MANUFACTURING

SOURCE: Technavio Research

Copyright Business Wire 2019.

PUB: 10/30/2019 03:30 PM/DISC: 10/30/2019 03:30 PM

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