Global PLC Market in Power Industry 2015-2019
A PLC is an industrial control product that regulates various automation and mechanical processes in manufacturing plants. It controls various automation applications in a plant by maintaining direct connectivity with field devices such as sensors, transmitters, and actuators. A PLC receives commands and signals from field devices and other industrial systems through a control system communication protocol. It uses programming languages such as ladder diagrams, functional block diagrams, and instruction lists to regulate processes.
Technavio's analysts forecast the global PLC market in the power industry to grow at a CAGR of 6.22% over the period 2014-2019.
Covered in this report
The global PLC market in the power industry can be categorized into three major segments: hardware, software, and services.
Technavio's report, Global PLC Market in Power Industry 2015-2019, has been prepared based on an in-depth market analysis with inputs from industry experts. The report covers APAC, Europe, US, and ROW; it also covers the landscape of the global PLC market in the power industry and its growth prospects in the coming years. The report also includes a discussion of the key vendors operating in this market.Key Regions
Technavio Announces the Publication of its Research Report – Global PLC Market in Power Industry 2015-2019
Technavio recognizes the following companies as the key players in the Global PLC Market in Power Industry: Mitsubishi Electric, Rockwell Automation, Schneider Electric and Siemens
The other prominent vendors are: ABB, Beckhoff, Bosch Rexroth, GE, Honeywell International, Idec, Keyence, Koyo, Omron, Panasonic, Toshiba and Yokogawa Electric
Commenting on the report, an analyst from Technavio’s team said: “We expect the use of the cloud to manage PLCs to increase during the forecast period. PLCs are designed and installed at plant facilities to control and monitor particular sensors and transmitters. They are monitored through an HMI screen by a controller installed in the facility. Cloud computing technology helps organizations switch their databases to the cloud for easy access to complex data. However, the use of the cloud as a controller within plant facilities is still in the nascent stage because of fears of hacking and other security concerns. The use of cloud-based PLCs may rise in the future as most industries automate their processes and learn to adopt cloud technology for better data management.”
According to the report, the need for smart or automated factories has increased globally and process and discrete industries are seeking automation to boost plant efficiencies. Automation enables improved communication and precise coordination within factories, and ensures flexibility in the processes. Automation can reduce human involvement, machine downtime, operational costs, and enhance information sharing, operational control, and avoid major factory accidents. This has created demand for automation solutions such as DCS, SCADA, PLC, and HMI. Continuous monitoring and control of sensors at various levels is essential as many processes in the power industry are executed under difficult and harsh conditions. PLCs fill an irreplaceable need in these circumstances. In addition, the implementation of PLC-based systems reduces the possibility of accidents and process breakdown.
Further, the report states end-users seeking to upgrade their existing PLCs are unable to do so because it is a very expensive process. Hence, many end-users continue with their existing systems, which affects the growth of new emerging PLC vendors.
Mitsubishi Electric, Rockwell Automation, Schneider Electric, Siemens, ABB, Beckhoff, Bosch Rexroth, GE, Honeywell International, Idec, Keyence, Koyo, Omron, Panasonic, Toshiba, Yokogawa Electric
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