Micro and Nano Programmable Logic Controller (PLC) market is USD 13.78 million by 2028 and is expected to grow with a CAGR of 7.13% during the forecast period 2023-2028.
For monitoring and controlling the fundamental industrial machinery, small electronic industrial computer devices called Micro and Nano Programmable Logic Controllers (PLC) are used. It is used in various automated industrial processes like wastewater treatment, assembly lines, robotic devices, and ore processing plants. Application in industrial machinery such as programming tools, power supplies, motion control, redundancy software, and input/output modules. Small programable logic controllers of Micro & nano PLC are used in the application of small machines such as smart relays and others. The PLC can be used to send the signals to the controllers for data collection and supervision. Micro & Nano Programmable Logic Controllers are smaller and more efficient than traditional PLCs and making them affordable for small-scale manufacturers or industries. These are resistance to extreme external weather conditions such as temperatures, humidity, and electrical noise.
The high adoption rate of the Micro & Nano Programmable Logic Controller (PLC) drives the market.
The wide range of Micro & Nano PLC applications in various industries is fuelling the market expansion. The applications include security systems, parking & building IoT lighting, solar systems, water supply system control, conveyor automation, and others. Applications in the industries such as power, energy, oil & gas, pharmaceutical, and automotive are significant because of their ability to work with high-voltage equipment. The rise in the adoption of automatic security systems in office and residential buildings is propelling Micro & Nano PLC’s market growth.
Rapid industrialization in the world is anticipated drive the market.
The advent of Industry 4.0 and the innovation of sophisticated sensors with minimum power and space utilization are boosting the market expansion. The benefits associated with the use of the Micro & Nano PLC are they do not require traditional hand wiring and are immune to electric noise & severe temperatures. These are positively impacting the Micro & Nano PLC market growth rate during the forecast period.
Micro & Nano PLC Market Restraints
High cost and risk of security are the restraints in the Micro & Nano PLC market. The expandability of the Micro & Nano Programmable Logic Controller (PLC) will incur additional costs that will disrupt the overall market growth and adoption rate. So, the cost plays a major role in either increase or decrease of the market growth over the forecast period. Numerous vulnerabilities afflict the overall security of the micro & nano PLC. Significant challenges are observed during the forecast period due to various security risks. Oil & gas and automotive are the major industries for the application of the Micro & Nano PLC. Further, the rise in prices of oil & gas is becoming a major restraint that is causing hurdles to market growth.
Micro & Nano PLC Market Opportunities
Industrial robots’ adoption as a part of production automation is projected to generate numerous opportunities for the market. This adoption will help in the further expansion of the market and increase the growth rate over a projected period. Significant focus on the research and development (R&D) activities in the market by the major market players will offer an enormous growth opportunity within the Micro & Nano PLC market.
COVID-19 Impact on the Micro & Nano PLC Market
The Micro & Nano PLC market has seen a significant impact from the pandemic outbreak. Oil & gas and automotive are one of the major industries that have been affected by COVID-19. As a result, the applications of micro & nano PLC in these industries have seen a reduced demand. The economies of the nations have been badly hit by the global COVID-19 pandemic due to the imposition of the lockdown. The negative effect of the pandemic is seen in the lives and businesses of the people. The temporary stoppage of industrial operations, delayed projects, disrupted supply chain, imbalance in the demand and supply of the product in the market, and others are some of the effects noticed in the market. During the COVID-19 period, the market growth is fuelled by the Micro & Nano PLC applications in the pharmaceutical industry.
Key developments in the market
By Type
Micro PLC
Nano PLC
Micro PLC is anticipated to hold a high market share in the Micro & Nano PLC market. The various features associated with micro-PLCs, such as size, programming, and ease of scalability, are beneficial and drive demand. The growing need for automation solutions will also increase the demand for the segment in the market.
By Offering
Hardware
Software
Services
The hardware segment is expected to have a high demand in the Micro & Nano PLC Market owing to the technological advancements in the hardware components and increased introduction of new products, and this is causing the increased adoption of Micro & Nano PLCs in various industries such as food & beverages, chemical, automotive, pharmaceuticals, and oil & gas.
By Architecture
Fixed PLC
Modular PLC
The modular segment is expected to dominate the Micro & Nano PLC Market and is expected to see a significant growth rate in the market. The growth of the market is attributed to the increasing adoption of modular PLCs in complex processes. A system module using various modules for allowing the multiple additions of the PLC systems is called modular architecture PLC. Manufacturing industries have a high demand for modular PLC to control the process line. This propels the segment growth in the market.
By Industry
Automotive Industry
Chemicals and Fertilizers Industry
Food and Beverages Industry
Home and Building Automation Industry
Metals and Mining Industry
Oil and Gas industry
Pharmaceutical Industry
Pulp and Paper Industry
Power, Water, and Wastewater Industry
The automotive industry is expected to dominate the market in the Micro & Nano PLC market. In the automotive industry, to reduce the time associated with the assembling process and to increase productivity, Micro And Nano PLCs are adopted. This will increase the demand for the market in the industry. The market is anticipated to experience a high CAGR in the home and building automation industry segment. The rise in the adoption of micro & nano PLC in the automation applications of solar collectors, staircase light control systems, and water supply control systems will propel the market growth rate.
North America
Europe
Asia Pacific
Latin America
Middle East & Africa
North America is expected to have a high demand in the Micro & Nano PLC Market owing to the technology adoption and high rate of automation in the different applications. Asia-Pacific region is the next expected region with significant growth of the market. In this region, the rapid upsurge in the expansion of the industrial base and the rise in the adoption of the smart manufacturing process drive the market.
Fujitsu
Toshiba Corporation
Texas Instruments Incorporated
Cree LED
Mitsubishi Chemical Corporation
Siemens
Koninklijke Philips N.V.
VINA International Holdings LTD.
GaN Systems Inc.
Navitas Semiconductor Ltd.
Frequently Asked Questions
The expected market size of the Micro & Nano PLC Market is to have a value of USD 13.78 million by 2028.
The modular segment is expected to have a high market share based on the architecture
Based on the offering, the hardware segment is expected to have a high demand in the Micro & Nano PLC Market.
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