New Product Launches and Developments, Expansions, Contracts, Agreements, Acquisitions, and Partnerships Are the Key Strategies Followed by the Major Players in Micro and Nano PLC Market
Micro and nano PLCs have been implemented in various industries such as automotive, food & beverages, chemical, and pharmaceuticals, among others to automate their industrial processes. Automation helps companies to increase their productivity, increase efficiency, and minimize human intervention. This helps reduce labor cost and ensures greater safety for people, assets, and plants. The micro and nano PLC market is expected to reach USD 8.89 Billion by 2022, at a CAGR of 6.9% between 2016 and 2022. The growth of this market is propelled by the growing home and building automation market, requirement for compact automation solutions, and adoption of regulatory compliance.
Siemens AG (Germany), Schneider Electric SE (France), Rockwell Automation Incorporation (U.S.), Mitsubishi Electric Corporation (Japan), and Omron Corp. (Japan) are some of the leading players in the micro and nano PLC market. New product launches and developments, expansions, contracts, agreements, acquisitions, and partnerships are the key strategies followed by the major players to gain a competitive edge in the market.
Siemens AG (Germany) holds the leading position in the micro and nano PLC market. The company offers various types of PLCs and software controllers for a wide range of automation requirements through its SIMATIC platform. The company has established a strong brand name owing to its innovative strength, technological excellence, high sustainable, and quality of products. Furthermore, the company also has a strong geographical presence. The company largely focuses on new product launches and developments. For instance, in April 2016, Siemens launched modular controller for PLC communication with Ethernet interface. The company is also focused on R&D initiatives and a major portion of its revenue is invested in R&D. The technology innovation enables the company to compete in the process automation & instrumentation market.
Schneider Electric SE (France) is one of the major players in the micro and nano PLC market. The company offers micro and nano PLCs through its Modicon TSX platform. The company has a strategically balanced portfolio and diversified geographic presence. The strong position of company in various markets offers it a competitive advantage. The acquisition of Invensys plc (London) in January 2014 helped Schneider Electric to gain a strong position in the discrete and process automation market. Furthermore, in September 2015, the company signed a partnership with Pepperl+Funchs (Germany) for industrial automation. Through this partnership, Schneider Electric and its customers would benefit from Pepperl+Fuchs’ (Germany) solutions for process automation.
The other companies involved in the development of the micro and nano PLC market include ABB Ltd. (Switzerland), B&R Industrial Automation (Austria), General Electric (U.S.), IDEC Corporation (Japan), Mitsubishi Electric Corporation (Japan), Omron Corporation (Japan), Robert Bosch GmbH (Germany), and Rockwell Automation Incorporation (U.S.).
Related Reports:
Micro and Nano PLC Market by Type (Micro PLC, Nano PLC), Offering (Hardware, Software, Services), Architecture (Fixed PLC, Modular PLC), Industry (Automotive, Home & Building Automation, Food & Beverages), and Geography - Global Forecast to 2022
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