The global Micro and Nano PLC market experienced remarkable growth in 2022, with sales revenue soaring to an impressive US$ 8.9 billion. According to a comprehensive report by Future Market Insights (FMI), the micro and nano PLC market is on an upward trajectory, set to exhibit a robust 6% Compound Annual Growth Rate (CAGR) from 2022 to 2032. By 2032, the market is anticipated to expand to an astonishing US$ 15.9 billion.
Micro and nano PLCs are highly adaptable, allowing for the development of complicated control systems for machines and processes. These PLCs can work in difficult conditions, are simple to program, and can interchange data and information with other devices.
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Micro and nano PLCs are also extremely adaptable, with applications ranging from food processing to transportation and energy management.
Thanks to their compact size, low power consumption, and great reliability, micro and nano PLCs are highly preferred in automotive applications. They are largely utilized in the automobile sector for monitoring and controlling various systems such as engine control, gearbox control, chassis control, and safety systems. This sector is expected to continue providing manufacturers with sizeable growth opportunities through 2032.
Rising usage of micro and nano PLCs in automotive applications is expected to boost the global market.
Increasing penetration of the Internet of Things (IoT) globally is expected to create a plethora of opportunities for micro and nano PLC manufacturers. This is due to rising adoption of these PLCs in IoT devices.
Micro-nano PLCs can be used to connect industrial devices and machines to the internet, allowing for real-time process monitoring and control. This is propelling the use of micro-nano PLCs in IoT applications.
Growing usage of micro and nano PLCs for IoT applications due to their small size, low power consumption, and low cost is projected to bolster sales in the market.
Key Takeaways from the Micro and Nano PLC Market Report:
- Global sales of micro and nano PLCs are expected to soar at 6.0% CAGR between 2022 and 2032.
- Based on type, micro PLC segment is likely to dominate the market, exhibiting a CAGR of 5.9% through 2032.
- By offering, hardware segment is poised to exhibit a CAGR of 5.8% from 2022 to 2032.
- China micron and nano PLC market is forecast to expand at 7.0% CAGR during the assessment period.
- The United States micro and nano PLC industry is projected to reach a valuation of US$ 5.1 billion by 2032.
- South Korea market is anticipated to progress at 6.4% CAGR between 2022 and 2032.
- Japan market value is expected to reach US$ 1.1 billion by the end of 2032.
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“Rising trend of miniaturization and high adoption of automation are likely to create high demand for micro and nano PLCs. Hence, key players are focusing on launching advanced products to gain profits.” – says a lead analyst at Future Market Insights (FMI)
Who is Winning?
General Electric, ABB Ltd, Rockwell Automation Inc, Mitsubishi Electric Corporation, Schneider Electric Inc, IDEC Corporation, Siemens AG, Robert Bosch GmbH, B&R Industrial Automation GmbH, and Omron Corporation are few of the leading micro and nano PLC manufacturers profiled in the report.
These market players are employing a wide range of strategies to increase their revenues and expand their presence. This includes new product launches, mergers, acquisitions, partnerships, and collaborations. For instance,
- In May 2020, to increase its product offering and expand its presence, Rockwell Automation acquired ASEM S.p.A.
Global Micro and Nano PLC Market Segmentation
By Type:
- Micro PLC
- Nano PLC
By Offering:
- Hardware
- Software
- Services
By Architecture:
- Fixed PLC
- Modular
By Industry:
- Automotive
- Chemicals & Fertilizers
- Food & Beverages
- Home & Building Automation
- Metals & Mining
- Oil & Gas
- Pharmaceuticals
- Pulp & Paper
- Power
- Water & Wastewater
By Region:
- North America
- Latin America
- Europe
- Asia Pacific
- Middle East and Africa
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Author:
Sudip Saha is the managing director and co-founder at Future Market Insights, an award-winning market research and consulting firm. Sudip is committed to shaping the market research industry with credible solutions and constantly makes a buzz in the media with his thought leadership. His vast experience in market research and project management a consumer electronics will likely remain the leading end-use sector cross verticals in APAC, EMEA, and the Americas reflects his growth-oriented approach to clients.
He is a strong believer and proponent of innovation-based solutions, emphasizing customized solutions to meet one client’s requirements at a time. His foresightedness and visionary approach recently got him recognized as the ‘Global Icon in Business Consulting’ at the ET Inspiring Leaders Awards 2022.
About Future Market Insights (FMI)
Future Market Insights, Inc. (ESOMAR certified, recipient of the Stevie Award, and a member of the Greater New York Chamber of Commerce) offers profound insights into the driving factors that are boosting demand in the market. FMI stands as the leading global provider of market intelligence, advisory services, consulting, and events for the Packaging, Food and Beverage, Consumer Technology, Healthcare, Industrial, and Chemicals markets. With a vast team of over 5000 analysts worldwide, FMI provides global, regional, and local expertise on diverse domains and industry trends across more than 110 countries.
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