Micro and Nano PLC Market Analysis Report, Share, Growth, Trend, and Forecast, 2024

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Micro and Nano PLC Market Technology Innovation
and Current Business Trends by 2024 Global
Market Insights, Inc.
Fuel Cell Market size worth 25.5bn by 2024
2
Regional Analysis of Micro and Nano PLC Market

• 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.
  Governments in various economies, primarily in
  the Western European countries such as Germany,
  are pressuring organizations to reduce their
  energy consumption, fueling the move toward the
  micro and nano PLC market.

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• Application Analysis of Micro and Nano PLC
  Market
• The micro and nano PLC market by type indicates
  that the micro-segment is anticipated to dominate
  in terms of revenue. These systems offer higher
  ease of programming and usability allowing them
  to be used for various applications. They also
  support a higher number of I/O ports as compared
  to nano PLCs, making them a better alternative
  for users seeking to reduce their sizes and
  energy consumption without compromising on the
  efficiency of the process. The nano segment of
  the micro and nano PLC market is anticipated
  witness a growth in size owing to the rising
  trend of miniaturization.
• 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.

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Competitive Market Share of Micro and Nano PLC
Market

• 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.
• For instance, in January 2018, Rockwell
  Automation announced the release of a firmware
  update for its MicroLogix 1400 PLCs to resolve a
  critical security system vulnerability.

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