Micro and Nano PLC Market Technology Innovation and Current Business Trends by 2024
The micro and nano PLC market by type indicates that the micro-segment is anticipated to dominate in terms of revenue. These systems offer higher ease of programming and usability allowing them to be used for various applications. They also support a higher number of I/O ports as compared to nano PLCs, making them a better alternative for users seeking to reduce their sizes and energy consumption without compromising on the efficiency of the process. The nano segment of the micro and nano PLC market is anticipated witness a growth in size owing to the rising trend of miniaturization.
Micro and Nano PLC Market size is projected to experience a substantial growth during the forecast timeframe owing to applications in the industrial sector and the demand for compact automation solutions. For instance, industrial robots are gaining traction owing to their ability to improve production efficiency and reduce costs. These are the essential components in industrial robotic systems and the rising adoption of these systems across the world is amplifying the growth of the micro and nano PLC market during the forecast timeframe.
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These components provide significant benefits over traditional PLC chips owing to the simpler programming and the high flexibility, making them an ideal choice in various applications such as security systems, conveyor automation, and building and parking lobby lighting systems. The increasing cost of energy and factory spaces is propelling manufacturers to shift away from large-footprint and multi-processor architectures toward centralized control, driving the micro and nano PLC market. The production of this technology in smaller sizes allows end users to reduce their power usage by over 50% as compared to the conventional technology.
A major factor restraining the growth of the micro and nano PLC market is the high additional costs incurred in expanding the I/O capability of these components contain a significantly lower number of I/O points. The industry is subject to significant security risks that pose major challenges to its growth. These systems can be infected by a malicious program leading to malfunctioning, causing significant delays and financial losses to its users. For instance, Stuxnet is a malware that was used to sabotage Iran’s nuclear program.
In the light of the rising trend of Industry 4.0, the micro and nano PLC market is anticipated to gain traction. There is a high focus on the adoption of technologies and devices that consume lesser power and space, reducing the overall total costs of designing and manufacturing a system. Additionally, the proliferation of sensors required to track environmental and process variables is continuously increasing, transitioning industrial workspaces to smart factories. In such cases, the adoption of smaller PLCs placed closer to the processes they control can reduce bottlenecks and shorten the control loops.
The micro and nano PLC market by offering indicates that the software segment is anticipated to witness a strong growth over the forecast period. OEMs highly focus on the reduction of potential security risks and the development of software that can reduce the time for designing automated control applications. The high growth of the industrial automation and the rising penetration of these technologies are contributing toward the high revenue of the hardware.
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The micro and nano PLC market by architecture indicates that the modular PLCs are exhibited to witness a strong growth during the forecast timeframe. These can house much larger amounts of information and provide room for expansion and customization of the processes. Modular architecture also reduces the downtime and can easily identify and alert the operators during times of faults and process failures while keeping some processes operational. However, these are relatively more expensive and provide greater economic security in the long term.
The automotive sector is the largest consumer of the micro and nano PLC market owing to the high penetration of automation technologies to increase the manufacturing of vehicles and automotive components to gain a competitive advantage. The home and building automation segment of the micro and nano PLC market is anticipated to witness growth owing to the increased rate of usage in home and construction locations, primarily in high-raised buildings and parking locations.
The micro and nano PLC market in the Asia Pacific region is exhibited to witness a high growth owing to the industrial boom and a large number of manufacturing plants owing to the high availability of low-cost resources such as labor and components. Government bodies are providing grants and subsidies to support SMEs through programs such as Make in India and Made in China 2025. Moreover, the high amount of urbanization has led to an increase in construction activities and modernization of the existing infrastructures. Governments in various economies, primarily in the Western European countries such as Germany, are pressuring organizations to reduce their energy consumption, fueling the move toward the micro and nano PLC market.
Players operating in the micro and nano PLC market include ABB Ltd., Omron Corporation, Siemens AG, Rockwell Automation, Inc., Schneider Electric SE, IDEC Corporation, Robert Bosch GmbH, and Schneider Electric SE. Manufacturers in the industry are required to continuously invest in strategies such as mergers, partnerships, and technology developments to sustain growth. For instance, in January 2018, Rockwell Automation announced the release of a firmware update for its MicroLogix 1400 PLCs to resolve a critical security system vulnerability.
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