About the PLC Software market
Increased investments in factory and process automation, especially in developing countries like India and China, will lead to steady growth of the PLC software market during the forecast period. We expect the market to register a high growth rate due to entrance of multiple software vendors offering software that can be easily adapted to by machine operators, technicians, and maintenance engineers. Also, enhanced functionalities offered by software tool vendors, which can integrate the PLC software with the business system software to increase the efficiency of industrial process control, will have a positive influence on market growth in the coming five years.
Technavio’s analysts forecast the global PLC software market to grow at a CAGR of 7.13% during the period 2016-2020.
Covered in this report
The report covers the present scenario and the growth prospects of the global PLC Software market for 2016-2020. To calculate the market size, the report considers the revenue generated from sales and aftermarket services of PLC software.
The market is divided into the following segments based on geography:
Technavio Announces the Publication of its Research Report – Global Programmable Logic Controller (PLC) Software Market 2016-2020
Technavio recognizes the following companies as the key players in the global PLC software market: Mitsubishi Electric, Rockwell Automation, Schneider Electric, and Siemens.
Other Prominent Vendors in the market are: ABB, Beckhoff, Bosch Rexroth, GE, Honeywell International, IDEC, and Hitachi.
Commenting on the report, an analyst from Technavio’s team said: “A key trend driving market growth is the advancements in features and functionalities of PLCs. Rising innovations are making PLCs powerful, compact, and cheaper. These PLCs include features like data sharing between PLCs and shop floor. In an automation project, PLCs bring new features such as web servers, FTP servers, e-mails, and internal relational databases. These new features are installed in the MS Windows framework with ladder logic as the most preferred PLC programming language.”
According to the report, a major driver in the growth of this market is the increased capital investment in factory automation. The PLC software is a major component of factory automation solutions as it supports communications in real time. It is distinguished by its high speed and capacity at a lower cost. The software can execute different tasks and support longer lifecycles of systems, and is compatible with strategic standards, such as IEC61499, which cover function blocks for ICS and guidelines for distributed intelligence in control systems.
Further, the report states that cybersecurity risks due to internet connectivity can hinder market growth.
Mitsubishi Electric, Rockwell Automation, Schneider Electric, Siemens, ABB, Beckhoff, Bosch Rexroth, GE, Honeywell International, IDEC, Hitachi.