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Micro and Nano PLC Market Trends Will double by 2024


Date:2017-11-14


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Micro and nano PLCs are designed to accomplish complex tasks for smooth operations of industrial processes. The minimum downtime is required for micro and nano PLC to troubleshoot and allow some operations to be processed within time span while the issues are being fixed.

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Global Micro and Nano PLC Market: Segmentation

The global micro and nano PLC market are segmented on the basis of industry type as pulp & paper, food & beverages, metals & mining, chemicals & fertilizers, pharmaceuticals, water & wastewater, automotive, oil & gas, home & building automation and power. Based on types, the global market is divided into nano PLC and micro PLC. Furthermore, the global micro and nano PLC market is bifurcated based on architecture as modular and fixed PLC. The global market is fragmented based on offering software, hardware, and services.

Global Micro and Nano PLC Market: Growth Factors

Growth in the market is mainly due to rise automation industries; this, in turn, is anticipated to boost the global micro and nano PLC market. Rising demand for compact automation solutions and infrastructure automation may enhance the global market in the near future. Micro and nano PLCs reduce the time required for assembling hence they improve productivity. All these factors impact the global micro and nano PLC market in a positive way. Major players in the food & beverages industry accept the strategies to provide high-quality products while keeping the production costs low is anticipated to boost the global market in future. IoT connectivity is widely adopted by the automation sector, which is expected to fuel the market growth. Conversely, the huge capital investment required for expansion of the micro and nano PLC market, establishment and fluctuating prices of oil & gas are other factors that may hinder the global market growth in the near future.

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Global Micro and Nano PLC Market: Regional Analysis

Geographically, the global micro and nano PLC market are segmented as North America, Europe, Asia-Pacific, Latin America, and the Middle East & Africa. North America holds the largest market share in the global micro and nano PLC market. Growing demand for servicing and automation will drive the global market in the near future. Government support for micro and nano PLCs through conferences and events in North America is anticipated to witness growth in the future. Asia Pacific is emerging as the fastest growing market for micro and nano PLC owing to rising need for smart manufacturing in this region.

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Global Micro and Nano PLC Market: Competitive Players

Major players in the global micro and nano PLC market include Siemens AG, General Electric, Robert Bosch GmbH, Mitsubishi Electric Corporation, and Rockwell Automation Inc. Other leading players in the globing market are Schneider Electric SE, ABB Ltd., IDEC Corporation, Omron Corporation, and B&R Industrial Automation.

Source : bizpr.us