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.
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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.
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.
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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.
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.
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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.