PLC Software Market to Expand at 7.13% CAGR from 2016 to 2020 due to Increased Capital Investments in Factories

Published Date : May 23, 2016

ALBANY, New York, May 23, 2016 - has announced the addition of a new report, titled “Global PLC Software Market 2016-2020” report to its database. The detailed report contains data about the current state of the global PLC software market. It studies the opportunities and the potential challenges faced by the market. The report helps readers discover trends in the global PLC software market and identify the strategic consolidations shaping it. According to the report, the PLC software market across the globe is poised to expand at a CAGR of 7.13% between 2016 and 2020 due to increased capital investments in factory and process automation.

A programmable logic controller (PLC) software is a digital computer which facilitates industrial electromechanical processes such as light fixtures, control of machinery, and others for the purpose of automation of the industrial processes. PLCs are used in many machines and these machines are used by various industries. PLCs are designed for multiple arrangements of analog and digital inputs and outputs.

Enhanced functionalities offered by software tool vendors to integrate PLC software with the business system software in order to increase the efficiency of industrial process control is expected to have a positive impact on the growth of the global PLC software market. There is an increased capital investment in factories and also in process automation in countries such as India and China, which will act as a growth driver for the PLC software market during the period from 2016 to 2020.

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The entry of various software vendors offering applications that can be adapted to by technicians, machine operators, and maintenance engineers is also boosting the market for PLC software. On the other hand, cyber security risks act as a major challenge for the market. However, technological advancements and the addition of newer functionalities in PLC software are expected to boost its adoption during the forecast period.

The global PLC software market is segmented on the basis of geography and type. By geography, the market is segmented into Asia Pacific, the Americas, Europe, and the Middle East and Africa. On the basis of type, the market is segmented into ladder logic, FBD, and others. The leading segment and the factors responsible for the growth of the segment are evaluated in the report.

The report profiles the leading players in the PLC software market for the purpose of the study. The business overview, financial overview, and product specifications of each of the companies have been included. Furthermore, strategies implemented by the leading players, the challenges faced by them, and the recent developments of each of the companies have been included. The companies studied in the report are: Mitsubishi Electric, Rockwell Automation, ABB, Beckhoff, Bosch Rexroth, GE, Honeywell International, IDEC, Hitachi, Schneider Electric, and Siemens.

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