PLC market expected to grow by USD 2.39 billion between 2020 and 2025
Published on : Monday 24-01-2022
Programmable Logic Controller (PLC) market to record 2.56percent Y-O-Y growth rate in 2021.
New York, January 2022 – According to the recent market study by Technavio, the Programmable Logic Controller Market is expected to grow by USD 2.39 billion between 2020 and 2025, at an accelerated CAGR of 3%. The report provides a detailed analysis of drivers & opportunities, top winning strategies, competitive scenario, future market trends, market size & estimations, and major investment pockets. APAC will register the highest growth rate of 33% among the other regions.
The end-to-end understanding of the value chains is essential in profit margin optimisation and evaluation of business strategies. The value chain of the programmable logic controller (PLC) market includes the following core components: inputs, inbound logistics, operations, outbound logistics, marketing and sales, aftermarket and service, and industry innovations.
Technavio report has further elucidated on other innovative approaches being followed by manufacturers to ensure a sustainable market presence.
The Programmable Logic Controller Market share growth in APAC will be significant during the forecast period. China and Japan are the key markets for programmable logic controllers (PLC) in APAC. Market growth in this region will be faster than the growth of the market in the European, MEA, and North American regions. The strong industrialisation; rising demand for medium-voltage and low-voltage motors; and increasing investments in the power, water, and wastewater treatment, and food and beverage industries will facilitate the programmable logic controller (PLC) market growth in APAC over the forecast period.