Micro And Nano PLC Market Size, Share, Opportunities, COVID-19 Impact, And Trends By Type (Micro PLC, Nano PLC), By Component (Hardware, Software, Service), By Architecture (Modular PLC, Fixed PLC), By Industry Vertical (Automotive, Healthcare, Chemical, Metallurgy, Energy & Power, Oil & Gas, Others), And By Geography - Forecasts From 2019 To 2024

The micro and nano PLC market is projected to grow at a CAGR of 8% to reach US$9.171 billion by 2024, from US$5.78 billion in 2018. PLC is an important component that enables the automated solution. The growing competitive environment is resulting in increasing installation of automation solutions by the manufacturing firms in order to enhance productivity, and eventually, profits. Moreover, the growing cost of labor is supplementing the adoption of automated solutions, which is further fueling the growth of the micro and nano plc market over the years.

This research study examines the current market trends related to demand, supply, and sales, in addition to the recent developments. Major drivers, restraints, and opportunities have been covered to provide an exhaustive picture of the market. The analysis presents in-depth information regarding the development, trends, and industry policies and regulations implemented in each of the geographical regions. Further, the overall regulatory framework of the market has been exhaustively covered to offer stakeholders a better understanding of the key factors affecting the overall market environment.

Identification of key industry players in the industry and their revenue contribution to the overall business or relevant segment aligned to the study have been covered as a part of competitive intelligence done through extensive secondary research. Various studies and data published by industry associations, analyst reports, investor presentations, press releases, and journals among others have been taken into consideration while conducting the secondary research. Both bottom-up and top-down approaches have been utilized to determine the market size of the overall market and key segments. The values obtained are correlated with the primary inputs of the key stakeholders in the micro and nano PLC value chain. The last step involves complete market engineering which includes analyzing the data from different sources and existing proprietary datasets while using various data triangulation methods for market breakdown and forecasting.

Market intelligence is presented in the form of analysis, charts, and graphics to help the clients in gaining faster and efficient understanding of the micro and nano plc market.

Major industry players profiled as part of the report are Rockwell Automation, Inc., ABB, Schneider Electric, and Keyence Corporation among others.

Micro and Nano PLC Market Scope:

Segmentation

The micro and nano PLC market has been analyzed through following segments:

By Type

Micro PLC

Nano PLC

By Component

Hardware

Software

Service

By Architecture

Modular PLC

Fixed PLC

By Industry Vertical

Automotive

Healthcare

Chemical

Metallurgy

Energy & Power

Oil & Gas

Others

By Geography

North America

USA

Canada

Mexico

Others

South America

Brazil

Argentina

Others

Europe

Germany

France

United Kingdom

Others

Middle East and Africa

Saudi Arabia

Israel

Others

Asia Pacific

China

Japan

India

Others

Frequently Asked Questions (FAQs)

Q1. What will be the micro and nano PLC market size by 2024?
A1. The micro and nano PLC market is projected to reach a total market size of US$9.171 billion by 2024.

Q2. What is the size of the global micro and nano PLC market?
A2. Micro and Nano PLC market was valued at US$5.78 billion in 2018.

Q3. What are the growth prospects for the micro and nano PLC market?
A3. The global micro and nano PLC market is projected to grow at a CAGR of 8.0%  during the forecast period.

Q4. Who are the major players in the micro and nano PLC market?
A4. Major industry players profiled as part of the micro and nano PLC market report are Rockwell Automation, Inc., ABB, Schneider Electric, and Keyence Corporation among others.

Q5. What factors are anticipated to drive the micro and nano PLC market growth?
A5. The growing cost of labor is supplementing the adoption of automated solutions, which is fueling the growth of the micro and nano plc market over the years.