Market outlook of the nano programmable logic controller (PLC) market
Technavio’s market research analysts have estimated the global nano programmable logic controller (PLC) market to grow at an impressive CAGR of almost 8% by 2020. A major factor impelling the prospects for growth in this market is the growing home and building automation market. A home automation system is a computer-based control system, which is installed in buildings to control and monitor mechanical and electrical equipment like power systems, lighting, ventilation, fire systems, and security systems. The automation of home and household systems includes centralized lighting control, HVAC control systems, security and access control systems, entertainment control systems, and control over other appliances in a house. In housing and building automation systems, nano PLCs are extensively used in door and gate controls, heating and cooling systems, window shutter controls, water and sprinkler systems, and ventilation systems. The ability of these nano PLCs to improve a building's indoor environment while optimizing overall operational costs will lead to its increased utilization over the next few years.
In terms of geography, the APAC region dominated this market during 2015 and is anticipated to continue its market dominance over the next few years. The home automation market in APAC is increasing due to the burgeoning need for security and convenience among end users. Due to the rising need for security and convenience, manufacturers have been compelled to expand their product portfolio during the forecast period to address the growing demand from emerging markets. Extensive market analysis carried out by the analysts at Technavio has shown that the market for nano PLCs in APAC will grow at a CAGR of over 8% by 2020.
Product-based segmentation and analysis of the nano PLC market
In this market research report, analysts have estimated the hardware segment to generate revenues of approximately USD 4 billion by 2020. Much of this segment’s growth can be attributed to numerous innovations in hardware that are increasing the efficiency and performance of devices. The hardware components in nano PLCs also consist of communication devices like built-in socket connections, which are useful for data I/O.
Segmentation by end user and analysis of the nano PLC market
Home and building automation
Food and beverage
Water and wastewater
The home and building automation segment currently dominates this market and is anticipated to surpass revenues of more than USD 2 billion by the end of 2020. In homes and buildings, nano PLCs are used for lighting controls, door and gate controls, HVAC systems, shutter, sunblind and awning controls, alarm and safety systems, and parking lot monitoring. In addition, since many buildings are being built based on the mandatory green building and energy conservation policies of the area, the adoption of home automation systems and solutions will become necessary to meet the stringent energy conservation policies of that area.
Competitive landscape and key vendors
The global nano PLC market is fragmented due to the presence of numerous established vendors. The primary success factors in the market include the availability of a range of products equipped with appropriate external expansion units and software programs to address the unique market demand, functional reliability of products, competitive prices, high standard of service and support, and extensive distribution infrastructure. In addition, some vendors are also providing integrated and complete solutions across end-user industries that are looking for solutions to bring down engineering and other related expenses.
Key vendors in this market are -
Other prominent vendors in this market are ABB, Bosch Rexroth, GE, Hitachi, Honeywell, and IDEC.
Key questions answered in the report include
What will the market size and the growth rate be in 2020?
What are the key factors driving the global nano PLC market?
What are the key market trends affecting the growth of the global nano PLC market?
What are the challenges to market growth?
Who are the key vendors in the global nano PLC market?
What are the market opportunities and threats faced by the vendors in the global nano PLC market?
Trending factors influencing the market shares of the Americas, APAC, and EMEA.
What are the key outcomes of the five forces analysis of the global nano PLC market?
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