Global Micro and Nano PLC Market : Market Analysis by Knowledge Sourcing Intelligence

The micro and nano PLC market is projected to grow at a CAGR of 8.00%, to reach a market size of US$9.171 billion by 2024, from US$5.780 billion in 2018. Programmable logic controller (PLC) is one of the most important components used in an automated infrastructure. Increasing investment towards industrial automation across industry verticals along with high demand for compact automated solutions are some of the major factors driving the demand for micro and nano PLCs worldwide. However, rising security concerns owing to an increase in internet connectivity at the manufacturing facility and the risk of a data breach will restrict the growing demand for these PLCs. Integration of PLCs with HMI in a cost-effective manner poses as a significant market opportunity in the developing economies.

Micro and Nano PLC market by Geogrophy :
By geography, Micro and Nano PLC market is segmented as North America, South America, Europe, Middle East and Africa, Asia Pacific. North America and Europe hold significant market share owing to the high adoption of automation across countries like the U.S., Canada, and Germany and early adoption of new technologies in these regions. APAC will witness a significant CAGR during the projected period on account of rising adoption of smart PLC systems and solutions in various industrial applications across the region. Growing industries such as automotive and healthcare are also contributing to the growth of micro and nano PLC market in the region.
                                                             


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Micro and Nano PLC Market Share by Region
Micro and Nano PLC market by Industry vertical :
By industry vertical, the micro and nano PLC market is segmented as automotive, healthcare, chemical, metallurgy, energy and power, oil and gas, and others. Oil and gas, and energy and power industries hold a significantly large share in this market. Growth of this market among these industries is being driven by the growth of them and rising investments by major industry players into business expansion and adoption of new technologies. Supportive initiatives by governments in many regions and stringent regulations requiring compliance to industry standards are fueling the adoption of advanced machinery among end users industries to power their move towards growth. 

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In addition, the introduction of advanced and state-of-the-art micro and nano PLC to boost the efficiency of automated infrastructure coupled with high rate of adoption of advanced technology in the developed regions of the world will support the burgeoning demand for these PLCs throughout the forecast period.


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