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PLC Software Market Growth Will be Driven by Rising Demand for Automation Across Various Industrial Sectors Over 2018 – 2024

Author : Ronak Bora | Published Date : 2019-05-30 

Global Market Insights presents the PLC Software Market provides a detailed overview of major drivers, restraints, challenges, opportunities, current industry trends and strategies impacting the global market along with estimates and forecast of revenue.

Rising demand for automation across various industrial sectors is anticipated to drive the PLC software market growth. The demand for automating several business operations is on the rise to reduce human errors, enhancing the efficiency. With the entry of several software providers offering solutions, which can be easily utilized by operators & technicians, the PLC software industry is set to witness a significant growth over the forecast timeline. In addition, the introduction of new & advanced features by the software providers and their integration into the industrial systems are helping the business to increase the operational efficiency, positively impacting the PLC software market growth.

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PLC software market is segmented on the basis of product and region. Based on the product, the industry is classified into ladder logic and functional block diagrams. Ladder logic diagrams are gaining popularity across various sectors owing to the ease of use offered by such products. Despite the availability of various other languages, ladder logic is considered to be the most popular language utilized for programming PLCs. For replacement of relay circuits, less-complex control systems, and sequential control, the ladder logic is widely utilized. Other advantages of such products include intuitive and self-documenting, efficient representation for discrete logic, modern debugging tools.

Advancements and innovations, such as enhanced communication and data sharing techniques between PLCs, improved communication of PLCs with Human Machine Interfaces (HMIs), enhanced processing speeds, and expanded memory, are some of the key factors propelling the PLC software market growth. Latest innovations in PLCs have helped the manufacturers to reduce the size of PLCs and minimize the power consumption.

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Asia Pacific PLC software market is anticipated to witness a significant growth during the forecast timeline. The growth can be accredited to the increasing demand for such solutions across the ever-growing industrial sector in the region. These software systems provide a number of advantages such as offering system flexibility and reporting in detail for process optimization, resulting in greater productivity. Facilitating easy integration of network systems for simple communication is among the other benefits offered by the PLC software systems.

The accelerated economic growth in India and China has been led by increased manufacturing activities in these countries. Initiatives, such as Make in India and Make in China by the Indian and Chinese governments, are boosting the regional industrialization activities, further contributing to the PLC software market growth. Furthermore, increasing demand for factory automation across these economies is driving the industry demand.

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Major companies in the PLC software market include Siemens AG, Schneider Electric SE, Mitsubishi Electric Corporation, Rockwell Automation, Inc., ABB Group, Robert Bosch GmbH, General Electric, Hitachi Ltd., Yokogawa Electric, Omron Automation, IDEC Corporation, and Honeywell International, Inc. The industry players are increasingly focusing on bringing in innovations and are incorporating advanced features into the existing product line to gain eminence in the marketplace.

About Global Market Insights:

Global Market Insights, Inc., headquartered in Delaware, U.S., is a global market research and consulting service provider; offering syndicated and custom research reports along with growth consulting services. Our business intelligence and industry research reports offer clients with penetrative insights and actionable market data specially designed and presented to aid strategic decision making. These exhaustive reports are designed via a proprietary research methodology and are available for key industries such as chemicals, advanced materials, technology, renewable energy and biotechnology.

About Author

Ronak Bora

Ronak Bora

A graduate in Electronics Engineering, Ronak writes for Fractovia.org and carries a rich experience in digital marketing, exploring how the online world works from a technical and marketing perspective. His other areas of interest include reading, music, and sport. He can be contacted at- [email protected] | https://twitter.com/RonakBora26

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