Report : Nano PLC Market to 2027 - COVID-19 Impact and Global Analysis and Forecasts by Component (Hardware, Software); Type (Fixed Nano PLC, Modular Nano PLC); Industry (Automotive, Energy & Power, Home and Building Automation, Oil & Gas, Pharmaceuticals, Metals & Mining, Other Industries)
The nano PLC market was valued at US$ 3.67 billion in 2019 and is projected to reach US$ 5.67 billion by 2027; it is expected to grow at a CAGR of 5.7% from 2020 to 2027.
PLCs are general-purpose controller devices that are being widely used in manufacturing industries for monitoring and control of machines and processes. These devices offer advanced functions and communicate over the network to share data with respective departments for enhancing operational efficiency and reducing costs. Nano PLCs simplify the control systems in industrial environments by reducing complexity and increasing flexibility. In addition, the expandable options in nano PLCs are further increasing the capabilities of these devices to enhance and optimize the industrial processes. In the modern industrial environments, the competitive and technology landscape is changing at a fast pace. Digitalization and process automation is becoming a necessity for businesses to sustain in the highly competitive manufacturing sector. In addition to the large automation requirements of industries, several small machines and processes require simple automation. Nano PLCs offer a great solution for such tasks and result in improved productivity with cost savings. In various industries, the major areas wherein nano PLCs are being used include infrastructure, production floor, handling machines, and service floor.
Some of the common application areas of these PLCs include home automation, energy management, industrial control, lighting, and HVAC. Nano PLCs also facilitate Ethernet connection, email alerts, remote monitoring, and integration with SCADA systems, among others, thus providing customers with an easy solution for their automation needs. Nano PLCs offer a cost efficient solution for low level automation applications which is anticipated to boost the adoption of nano PLCs in home and building automation, automotive, energy & power, food & beverages, and other industries.
The demand for nano PLCs is expected to grow with the rising demand for compact automation solutions in industries and need to upgrade the conventional control systems with nano PLCs. Based on geography, North America holds a significant share of the nano PLC market, and the market in this region is expected to grow at a high rate owing to the rapid adoption of technologies in the region. The top companies operating in the field of nano PLC include Crouzet Automatismes SAS, Emerson Electric Co., EZAutomation, IDEC Corporation, Keyence Corporation, Mitsubishi Electric Corporation, OMRON Corporation, Rockwell Automation, Inc., and Schneider Electric SE.
The report segments the global nano PLC market as follows:
Global Nano PLC Market - By Type
Global Nano PLC Market - By Industry
Global Nano PLC Market - By Geography