PLC Market in Europe 2015 to grow at a CAGR of 7.44% by 2019: Market Research Store
Deerfield Beach, FL -- (SBWIRE) -- 09/28/2015 -- PLC is a product that regulates various automation and mechanical processes in manufacturing plants through ladder diagrams, functional block diagrams, and instruction lists. PLC market in Europe to grow at a CAGR of 7.44% over the period 2014-2019. PLC systems control diverse automation applications by maintaining connectivity via field devices such as sensors, transmitters, and actuators through a control system communication protocol. These systems control and manage the entire plant by providing operators with complete visibility of the production processes.
Commenting on the report, an our analyst said: "Increased demand for cyber-secure PLCs is one of the major trends being witnessed in the market. With increased industrial automation, a pressing need has emerged to continuously monitor processes and connect the system with a company's enterprise network and Ethernet."
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According to the report, the rise in automotive sales is a key factor fueling the PLC market in Europe. In 2014, the sales of cars and commercial vehicles increased for the first time since the 2008-2009 GFC due to growing consumer confidence towards the economy, and this resulted in increased investments in the automotive industry leading to higher demand for automation systems such as PLCs.
Covered in this Report
This report covers the present scenario and the growth prospects of the PLC market in Europe for the period 2015-2019. To calculate the market size, the report covers the revenue generated from various end-user industries.
The report, PLC Market in Europe 2015-2019, has been prepared based on an in-depth market analysis with inputs from industry experts. It presents the vendor landscape and a corresponding detailed analysis of the primary vendors in the PLC market in Europe. In addition, it discusses the major drivers that influence the growth of the market. It also outlines the challenges faced by vendors and the market at large, as well as the key trends that are emerging in the market.
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Our analyst researched the following companies as the key players in the PLC market in Europe: ABB Ltd., GE Co., Mitsubishi Electric Corp., Rockwell Automation Inc., Schneider Electric Co., Siemens AG and Yokogawa Electric Corp.
Other Prominent Vendors in the market are: Beckhoff, Bosch Rexroth, Honeywell International, Idec, Keyence, Omron, Panasonic and Toshiba
Further, the report states that slow economic recovery in Europe has negatively affected companies and investors' confidence, resulting in deferred investments. Companies in the region are minimizing expenditure to overcome the lingering unfavorable economic conditions.
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The study was conducted using an objective combination of primary and secondary information including inputs from key participants in the industry. The report contains a comprehensive market and vendor landscape in addition to a SWOT analysis of the key vendors.