Nano Programmable Logic Controller (PLC) Market

Nano Programmable Logic Controller (PLC) Market by Type (Fixed Nano PLC, and Modular Nano PLC), by Component (Hardware, and Software), by Application (Automotive, Energy & Power, Home & Building Automation, Oil & Gas, Pharmaceutical, Metals and Mining, and Others), and by Region (North America, Europe, Asia Pacific, Latin America, and the Middle East and Africa) Global Industry Overview, COVID-19 Impact Analysis, Statistical Data, Competitive Analysis, Share, Outlook, and Forecast 20232031.

Electronics & Semiconductor | June 2023 | Report ID: EMR0082 | Pages: 277

The global nano programmable logic controller (PLC) market in 2022 was valued at USD 8.17million and is predicted to reach roughly USD 15.54 million in 2031, rising at a compound annual growth rate (CAGR) of 7.7% between 2023 and 2031.

The nano programmable logic controller PLC is an industrial computer that controls output devices based on input status and user developed programs. By using these controllers, traditional relay control circuits can be replaced, thereby enhancing productivity due to the elimination of hardwiring needs. In comparison to rewiring an entire circuit, creating or modifying a program on a nano PLC is much simpler. Due to the demand for efficient automation solutions as well as the increased need for high-voltage operating devices, the energy & power, automotive, and other sectors have seen a rise in the adoption of nano PLCs. As a result, the nano PLC market is expected to experience substantial growth in the foreseeable future.

 

 

Nano PLC Market Report Scope & Segmentation

Report Attribute

Details

Estimated Market Value (2022)

8.17 Mn

Projected Market Value (2031)

15.54 Mn

Base Year

2022

Forecast Years

2023 – 20231

Scope of the Report

Historical and Forecast Trends, Industry Drivers and Constraints, Historical and Forecast Market Analysis by Segment- By Type, By Component, By Application, & By Region

Segments Covered

By Type, By Component, By Application, & By Region

Forecast Units

Value (USD Million)

Quantitative Units

Revenue in USD million and CAGR from 2023 to 2031

Regions Covered

North America, Europe, Asia Pacific, Latin America, and Middle East & Africa, and Rest of World

Countries Covered

U.S., Canada, Mexico, U.K., Germany, France, Italy, Spain, China, India, Japan, South Korea, Brazil, Argentina, GCC Countries, and South Africa, among others

Report Coverage

Market growth drivers, restraints, opportunities, Porter’s five forces analysis, PEST analysis, value chain analysis, regulatory landscape, market attractiveness analysis by segments and region, company market share analysis, and COVID-19 impact analysis.

Delivery Format

Delivered as an attached PDF and Excel through email, according to the purchase option.

 

Nano PLC Market Drivers

  • Increasing demand for automation technology.

The growing need for automation technologies in different sectors, such as energy, healthcare, and automotive, is the main driving force behind the nano PLC market. The demand for automation technology in nano PLCs is on the rise, owing to various factors. One of the primary factors is the increasing need for affordable and user-friendly automation solutions for small and medium-sized businesses (SMBs). Additionally, the adoption of Industry 4.0 technologies like artificial intelligence (AI), machine learning (ML), and big data analytics is driving the need for more versatile and scalable automation solutions. The trend towards automation in both residential and commercial sectors is also creating novel opportunities for nano PLCs. Moreover, their compact size and lower weight make them an ideal choice for mobile and portable applications. They also consume less power, which can help businesses save on energy costs. Also, their reduced complexity makes them easier to install and operate.

 

Nano PLC Market Restraints:

  • Higher implementation cost

The expansion capability of nano programmable logic controllers (PLCs) entails additional costs that hinder the growth of the overall market, thus affecting the adoption rate. Market growth is likely to be hindered during the projected period due to cost-related challenges. Furthermore, the impediment to the market's overall growth comes from the significant obstacle of oil and gas prices.

  • Security concerns

Nano PLCs have numerous vulnerabilities that greatly compromise their overall security. The nano programmable logic controller (PLC) market is expected to face a significant challenge due to the various security risks anticipated during the forecast period.

 

Nano PLC Market Covid-19 Impact:

The market for nano programmable logic controllers (PLCs) underwent a significant change as a result of the COVID-19 outbreak. The pandemic's impact on different industries, particularly oil and gas, and logistics, has led to a decrease in demand for the Nano Programmable Logic Controller (PLC). The market is set to experience even more growth in the near future, driven by the rising need for nano PLCs in fields like pharmaceuticals.

 

Nano PLC Market Segment Overview

The global nano PLC market is categorized based on its type, component, application, and region.

By Type

Products in the market are categorized into fixed nano PLC and modular nano PLC. Subsequently, both fixed nano PLCs and modular nano PLCs are further classified into small, medium, and large. Modular PLCs is anticipated to dominate the market share due to its ability to perform intricate processes and customize industrial processes for uninterrupted operations.

 

By Component

The market for nano PLCs is divided into two components: hardware and software. The hardware component of nano PLCs is made up of various parts and holds the largest portion of the worldwide nano PLC market. The constant advancements in hardware components, including CPU, memory, processor, and I/O modules, are expected to fuel the growth of the hardware segment.

 

By Application

The market is segmented into consumer electronics, automotive, medical equipment, and other categories, according to the application. The automotive industry is expected to experience the most significant compound annual growth rate during the projected timeframe. The automotive industry is experiencing a surge in demand due to the increasing purchasing power in developing areas, resulting in higher disposable incomes.

 

Nano PLC Market Share, By Region, (%)

 

 

Nano PLC Market Overview by Region

The market for nano PLCs is divided by geography, encompassing North America, Europe, Asia Pacific, Latin America, and the Middle East & Africa. North America is the largest market for nano PLCs, followed by Europe. The high adoption of automation in the manufacturing, power, and home & building automation industries in these regions is driving market growth.

European countries, such as Germany, Italy, and France, are also major players in the nano PLC market. These countries have a strong manufacturing sector and a high demand for advanced technologies. Europe's commitment to sustainability, energy efficiency, and cutting-edge manufacturing techniques is also driving the adoption of nano PLCs.

 

Nano PLC Market Competitive Landscape

The competitive landscape of the nano programmable logic controller (PLC) market furnishes competitor details. This comprehensive report encompasses key information about the organization such as its financial performance, revenue streams, market potential, global reach, R&D investments, production facilities, strengths and weaknesses, product line, and application dominance. It is important to note that the aforementioned data points are solely related to the companies' focus on the nano programmable logic controller (PLC) market. Some of the major players operating in the nano programmable logic controller (PLC) market are ABB Ltd., Crouzet Automastismes SAS, Honeywell International, IDEC Corporation, Mitsubishi Electric Corporation, OMRON Corporation, Robert Bosch GmbH, Rockwell Automation Inc., Schneider Electric SE, and Siemens AG.

 

Nano PLC Market: Recent Developments

  • In April 2023, OMRON unveiled their latest product, the NX502 controllers, which feature cutting-edge information and safety technologies. These controllers are designed to boost production quality and enhance energy efficiency, making them a valuable addition to any industrial operation.
  • In Dec 2022, Crouzet introduced a new "slimmest PLC" to the industrial automation market that can replace single-function devices such as timer relays or temperature controllers. This product is an excellent option for businesses seeking to streamline their operations and optimize their resources.

 

Nano PLC Market Report Segmentation

ATTRIBUTE

DETAILS

By Type

  • Fixed Nano PLC
  • Modular Nano PLC

By Component

  • Hardware
  • Software

By Application

  • Automotive
  • Energy & Power
  • Home & Building Automation
  • Oil & Gas
  • Pharmaceutical
  • Metals and Mining
  • Others

By Region

  • North America (USA, and Canada)
  • Europe (UK, Germany, France, Italy, Spain, Russia and Rest of Europe)
  • Asia Pacific (Japan, China, India, Australia, Southeast Asia and Rest of Asia Pacific)
  • Latin America (Brazil, Mexico, and Rest of Latin America)
  • Middle East & Africa (South Africa, GCC, and Rest of Middle East & Africa)

Customization Scope

  • Available upon request

Pricing

  • Available upon request

 

 

Objectives of the Study

The objectives of the study are summarized in four stages. They are as mentioned below:

  • Nano PLC Market Size and Forecast:

To identify and estimate the market size for the nano PLC market segmented by type, by component, by application, and by value (in U.S. dollars). Also, to understand the demand created by consumers of nano PLC between 2023 and 2031.

  • Market Landscape and Trends:

To identify and infer the drivers, and restraints for the nano PLC market

  •  Impact of COVID-19:

To identify and understand the various factors involved in the global nano PLC market affected by the pandemic

  • Company Profiling:

To provide a detailed insight into the major companies operating in the market. The profiling will include the financial health of the company's past 2-3 years with segmental and regional revenue breakup, product offering, recent developments, SWOT analysis, and key strategies.

Research Methodology

Our research methodology has always been the key differentiating reason which sets us apart in comparison from the competing organizations in the industry. Our organization believes in consistency along with quality and establishing a new level with every new report we generate; our methods are acclaimed and the data/information inside the report is coveted. Our research methodology involves a combination of primary and secondary research methods. Data procurement is one of the most extensive stages in our research process. Our organization helps in assisting the clients to find the opportunities by examining the market across the globe coupled with providing economic statistics for each and every region.  The reports generated and published are based on primary & secondary research. In secondary research, we gather data for global Market through white papers, case studies, blogs, reference customers, news, articles, press releases, white papers, and research studies. We also have our paid data applications which includes hoovers, Bloomberg business week, Avention, and others.

Data Collection

Data collection is the process of gathering, measuring, and analyzing accurate and relevant data from a variety of sources to analyze market and forecast trends. Raw market data is obtained on a broad front. Data is continuously extracted and filtered to ensure only validated and authenticated sources are considered. Data is mined from a varied host of sources including secondary and primary sources.

Primary Research

After the secondary research process, we initiate the primary research phase in which we interact with companies operating within the market space. We interact with related industries to understand the factors that can drive or hamper a market. Exhaustive primary interviews are conducted. Various sources from both the supply and demand sides are interviewed to obtain qualitative and quantitative information for a report which includes suppliers, product providers, domain experts, CEOs, vice presidents, marketing & sales directors, Type & innovation directors, and related key executives from various key companies to ensure a holistic and unbiased picture of the market. 

Secondary Research

A secondary research process is conducted to identify and collect information useful for the extensive, technical, market-oriented, and comprehensive study of the market. Secondary sources include published market studies, competitive information, white papers, analyst reports, government agencies, industry and trade associations, media sources, chambers of commerce, newsletters, trade publications, magazines, Bloomberg BusinessWeek, Factiva, D&B, annual reports, company house documents, investor presentations, articles, journals, blogs, and SEC filings of companies, newspapers, and so on. We have assigned weights to these parameters and quantified their market impacts using the weighted average analysis to derive the expected market growth rate.

Top-Down Approach & Bottom-Up Approach

In the top – down approach, the Global Batteries for Solar Energy Storage Market was further divided into various segments on the basis of the percentage share of each segment. This approach helped in arriving at the market size of each segment globally. The segments market size was further broken down in the regional market size of each segment and sub-segments. The sub-segments were further broken down to country level market. The market size arrived using this approach was then crosschecked with the market size arrived by using bottom-up approach.

In the bottom-up approach, we arrived at the country market size by identifying the revenues and market shares of the key market players. The country market sizes then were added up to arrive at regional market size of the decorated apparel, which eventually added up to arrive at global market size.

This is one of the most reliable methods as the information is directly obtained from the key players in the market and is based on the primary interviews from the key opinion leaders associated with the firms considered in the research. Furthermore, the data obtained from the company sources and the primary respondents was validated through secondary sources including government publications and Bloomberg.

Market Analysis & size Estimation

Post the data mining stage, we gather our findings and analyze them, filtering out relevant insights. These are evaluated across research teams and industry experts. All this data is collected and evaluated by our analysts. The key players in the industry or markets are identified through extensive primary and secondary research. All percentage share splits, and breakdowns have been determined using secondary sources and verified through primary sources. The market size, in terms of value and volume, is determined through primary and secondary research processes, and forecasting models including the time series model, econometric model, judgmental forecasting model, the Delphi method, among Flywheel Energy Storage. Gathered information for market analysis, competitive landscape, growth trends, product development, and pricing trends is fed into the model and analyzed simultaneously.

Quality Checking & Final Review

The analysis done by the research team is further reviewed to check for the accuracy of the data provided to ensure the clients’ requirements. This approach provides essential checks and balances which facilitate the production of quality data. This Type of revision was done in two phases for the authenticity of the data and negligible errors in the report. After quality checking, the report is reviewed to look after the presentation, Type and to recheck if all the requirements of the clients were addressed.

Frequently Asked Questions

The nano PLC market forecast period is 2023 2031.
According to nano PLC market research, the market is expected to grow at a CAGR of ~7.70% over the next eight years.
The automotive segment is expected to grow at the highest CAGR during the forecast period.
The key factor driving the market is the increasing demand for automation technology.
North America is the leading region of the global nano PLC market during the forecast period of 20232031.