Nano PLC Market Drivers and Opportunities [2021-2031]
The nano PLC market size is projected to reach US$ 6.96 billion by 2031 from US$ 4.32 billion in 2023. The market is expected to register a CAGR of 6.2% in 2023–2031. The growing industrial automation and evolution of Industry 4.0 and are likely to remain a key nano PLC market trends.
Nano PLC Market Analysis
The nano PLC market is growing at a rapid pace due to the growing adoption of high-speed processing applications, rapid industrialization, and increasing usage of automatic security systems. The market is expanding steadily, driven by the growing demand for smart manufacturing. Moreover, combining PLC with human-machine interface (HMI) and the rising adoption of technologically advanced solutions such as IoT lighting is providing lucrative opportunities for market growth.
Nano PLC Market Overview
Nano PLCs are controller devices that improve industrial control systems by improving adaptability and lowering complexity. Nano PLCs can improve and optimize industrial processes, which increases their adoption among industries. In today's industrial environments, the competitive and technological landscapes are rapidly evolving. The demand for large industrial automation surged the adoption of Nano PLCs to perform tasks by improving productivity and cost savings. Moreover, the growing demand for flexible automation solutions among industries is boosting the market during the forecast period.
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Nano PLC Market: Strategic Insights
Market Size Value in US$ 3.67 Billion in 2019 Market Size Value by US$ 5.67 Billion by 2027 Growth rate CAGR of 5.7% from 2020-2027 Forecast Period 2020-2027 Base Year 2020
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Nano PLC Market: Strategic Insights
| Market Size Value in | US$ 3.67 Billion in 2019 |
| Market Size Value by | US$ 5.67 Billion by 2027 |
| Growth rate | CAGR of 5.7% from 2020-2027 |
| Forecast Period | 2020-2027 |
| Base Year | 2020 |
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Nano PLC Market Drivers and Opportunities
Growing Adoption in High-Speed Processing Applications is Driving the Market
Nano PLCs are very compact solutions that include standard functions which are easy to set up. The compact size of nano PLC increases its adoption among high-speed processing applications and control systems that require counting capacity or short response times. Nano PLCs are highly capable of working at different types of short response times, including fast counter (maximum frequency 10 kHz), fast up/down counter (maximum frequency 1 kHz), and frequency meter (maximum frequency 10 kHz). Moreover, significant benefits offered by nano PLC to high-speed applications include the availability of battery backup, PID loops for control systems applications, unlimited write retentive memory, and a cost-effective replacement for traditional solutions. However, nano PLC offers flexibility with easy controlling and handling of complex processing applications boosting the market during the forecast period.
Combining PLC with Human Machine Interface (HMI) - An Opportunity in the Nano PLC Market
Today's HMIs are highly capable of performing many of the functions that were formerly performed and handled by control systems, including actual machine control and I/O processing from sensors and machines. The mixing of functions has resulted in the creation of HMI-PLC combo units. The combination is a natural extension of an ongoing trend, as PLCs have some form of basic interface, and HMIs have increasingly evolved to provide more fundamental control capabilities. The combination of HMI-PLC units is making industrially hardened devices into a single housing. This combination functions as a web server and typically offers significant benefits to the users in setting alarms, graphing, data logging, and monitoring trends, with multiple control functions, which increases its adoption among industries. HMI-PLC unit units support industries in reducing operational complexities and decreasing development time by lowering overall operational costs are expected to create opportunities in the market during the forecast period.
Nano PLC Market Report Segmentation Analysis
Key segments that contributed to the derivation of the nano PLC market analysis are component, type, and industry.
- Based on component, the nano PLC market is divided into hardware and software. The hardware segment is further subsegmented into processor, power supply, input/output (I/O), and other hardware. The hardware segment held a larger market share in 2023.
- On the basis of type, the nano PLC market is divided into fixed nano PLC and modular nano PLC. The fixed nano PLC segment held a larger market share in 2023.
- In terms of industry, the nano PLC market is categorized as automotive, energy & power, home and building automation, oil & gas, pharmaceuticals, metals & mining, and other industries. The automotive segment held a larger market share in 2023.
Nano PLC Market Share Analysis by Geography
The geographic scope of the nano PLC market report is mainly divided into five regions: North America, Asia Pacific, Europe, Middle East & Africa, and South America/South & Central America.
In terms of revenue, the North America market accounted for the largest nano PLC market share, due to the growing automation and high adoption of technologically advanced products. Increasing focus on research activities to develop high-end nano PLCs is creating opportunities in the market.
The market in Asia Pacific is projected to expand during the forecast period, due to the expanding numerous industries such as automotive, energy & power, oil & gas, and others. These industries are using nano PLC for adopting smart manufacturing processes is driving the market. Moreover, increasing government initiatives to promote automation projects and the growing number of infrastructural development activities are boosting the market in Asia Pacific.
Nano PLC Market Report Scope
Nano PLC Market News and Recent Developments
The nano PLC market is evaluated by gathering qualitative and quantitative data post primary and secondary research, which includes important corporate publications, association data, and databases. The following is a list of developments in the market for nano PLC and strategies:
- In April 2024, French firm Crouzet chose Bangalore’s Aerospace and Defence Park to establish its new factory to produce mechatronic components for both the Indian and international markets. (Source: Embassy of France in India, Press Release, 2024)
Nano PLC Market Report Coverage and Deliverables
The “Nano PLC Market Size and Forecast (2021–2031)” report provides a detailed analysis of the market covering below areas:
- Market size and forecast at global, regional, and country levels for all the key market segments covered under the scope
- Market dynamics such as drivers, restraints, and key opportunities
- Key future trends
- Detailed PEST/Porter’s Five Forces and SWOT analysis
- Global and regional market analysis covering key market trends, major players, regulations, and recent market developments
- Industry landscape and competition analysis covering market concentration, heat map analysis, prominent players, and recent developments
- Detailed company profiles
Report Coverage
Revenue forecast, Company Analysis, Industry landscape, Growth factors, and Trends
Segment Covered
Component ; Type ; Industry
Regional Scope
North America, Europe, Asia Pacific, Middle East & Africa, South & Central America
Country Scope
Argentina, Australia, Brazil, Canada, China, France, Germany, India, Italy, Japan, Mexico, Russian Federation, Saudi Arabia, South Africa, South Korea, United Arab Emirates, United Kingdom, United States
Frequently Asked Questions
The global nano PLC market was estimated to be US$ 4.32 billion in 2023 and is expected to grow at a CAGR of 6.2% during the forecast period 2023 - 2031.
The growing adoption of high-speed processing applications, rapid industrialization, and increasing usage of automatic security systems are the major factors that propel the global nano PLC market.
The growing industrial automation and evolution of Industry 4.0 to play a significant role in the global nano PLC market in the coming years.
The key players holding majority shares in the global nano PLC market are Crouzet Automatismes SAS, Emerson Electric Co., EZAutomation, Keyence Corporation, and Mitsubishi Electric Corporation.
The global nano PLC market is expected to reach US$ 6.96 billion by 2031.
The incremental growth expected to be recorded for the global nano PLC market during the forecast period is US$ 2.65 billion.
The Insight Partners performs research in 4 major stages: Data Collection & Secondary Research, Primary Research, Data Analysis and Data Triangulation & Final Review.
- Data Collection and Secondary Research:
As a market research and consulting firm operating from a decade, we have published many reports and advised several clients across the globe. First step for any study will start with an assessment of currently available data and insights from existing reports. Further, historical and current market information is collected from Investor Presentations, Annual Reports, SEC Filings, etc., and other information related to company’s performance and market positioning are gathered from Paid Databases (Factiva, Hoovers, and Reuters) and various other publications available in public domain.
Several associations trade associates, technical forums, institutes, societies and organizations are accessed to gain technical as well as market related insights through their publications such as research papers, blogs and press releases related to the studies are referred to get cues about the market. Further, white papers, journals, magazines, and other news articles published in the last 3 years are scrutinized and analyzed to understand the current market trends.
- Primary Research:
The primarily interview analysis comprise of data obtained from industry participants interview and answers to survey questions gathered by in-house primary team.
For primary research, interviews are conducted with industry experts/CEOs/Marketing Managers/Sales Managers/VPs/Subject Matter Experts from both demand and supply side to get a 360-degree view of the market. The primary team conducts several interviews based on the complexity of the markets to understand the various market trends and dynamics which makes research more credible and precise.
A typical research interview fulfils the following functions:
- Provides first-hand information on the market size, market trends, growth trends, competitive landscape, and outlook
- Validates and strengthens in-house secondary research findings
- Develops the analysis team’s expertise and market understanding
Primary research involves email interactions and telephone interviews for each market, category, segment, and sub-segment across geographies. The participants who typically take part in such a process include, but are not limited to:
- Industry participants: VPs, business development managers, market intelligence managers and national sales managers
- Outside experts: Valuation experts, research analysts and key opinion leaders specializing in the electronics and semiconductor industry.
Below is the breakup of our primary respondents by company, designation, and region:
Once we receive the confirmation from primary research sources or primary respondents, we finalize the base year market estimation and forecast the data as per the macroeconomic and microeconomic factors assessed during data collection.
- Data Analysis:
Once data is validated through both secondary as well as primary respondents, we finalize the market estimations by hypothesis formulation and factor analysis at regional and country level.
- 3.1 Macro-Economic Factor Analysis:
We analyse macroeconomic indicators such the gross domestic product (GDP), increase in the demand for goods and services across industries, technological advancement, regional economic growth, governmental policies, the influence of COVID-19, PEST analysis, and other aspects. This analysis aids in setting benchmarks for various nations/regions and approximating market splits. Additionally, the general trend of the aforementioned components aid in determining the market's development possibilities.
- 3.2 Country Level Data:
Various factors that are especially aligned to the country are taken into account to determine the market size for a certain area and country, including the presence of vendors, such as headquarters and offices, the country's GDP, demand patterns, and industry growth. To comprehend the market dynamics for the nation, a number of growth variables, inhibitors, application areas, and current market trends are researched. The aforementioned elements aid in determining the country's overall market's growth potential.
- 3.3 Company Profile:
The “Table of Contents” is formulated by listing and analyzing more than 25 - 30 companies operating in the market ecosystem across geographies. However, we profile only 10 companies as a standard practice in our syndicate reports. These 10 companies comprise leading, emerging, and regional players. Nonetheless, our analysis is not restricted to the 10 listed companies, we also analyze other companies present in the market to develop a holistic view and understand the prevailing trends. The “Company Profiles” section in the report covers key facts, business description, products & services, financial information, SWOT analysis, and key developments. The financial information presented is extracted from the annual reports and official documents of the publicly listed companies. Upon collecting the information for the sections of respective companies, we verify them via various primary sources and then compile the data in respective company profiles. The company level information helps us in deriving the base number as well as in forecasting the market size.
- 3.4 Developing Base Number:
Aggregation of sales statistics (2020-2022) and macro-economic factor, and other secondary and primary research insights are utilized to arrive at base number and related market shares for 2022. The data gaps are identified in this step and relevant market data is analyzed, collected from paid primary interviews or databases. On finalizing the base year market size, forecasts are developed on the basis of macro-economic, industry and market growth factors and company level analysis.
- Data Triangulation and Final Review:
The market findings and base year market size calculations are validated from supply as well as demand side. Demand side validations are based on macro-economic factor analysis and benchmarks for respective regions and countries. In case of supply side validations, revenues of major companies are estimated (in case not available) based on industry benchmark, approximate number of employees, product portfolio, and primary interviews revenues are gathered. Further revenue from target product/service segment is assessed to avoid overshooting of market statistics. In case of heavy deviations between supply and demand side values, all thes steps are repeated to achieve synchronization.
We follow an iterative model, wherein we share our research findings with Subject Matter Experts (SME’s) and Key Opinion Leaders (KOLs) until consensus view of the market is not formulated – this model negates any drastic deviation in the opinions of experts. Only validated and universally acceptable research findings are quoted in our reports.
We have important check points that we use to validate our research findings – which we call – data triangulation, where we validate the information, we generate from secondary sources with primary interviews and then we re-validate with our internal data bases and Subject matter experts. This comprehensive model enables us to deliver high quality, reliable data in shortest possible time.
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