ARC study finds PLC growth 'robust'
As the world economy rebounded to a strong year in 2004, the heightening demand from various emerging markets created robust growth for the worldwide Programmable Logic Controller (PLC) market. The worldwide market for PLCs is expected to grow at a annual growth rate of 5.9% over the next five years.
As the world economy rebounded to a strong year in 2004, the heightening demand from various emerging markets created robust growth for the worldwide Programmable Logic Controller (PLC) market. The worldwide market for PLCs is expected to grow at a annual growth rate of 5.9% over the next five years. The PLC market was nearly $7 billion in 2004 and is forecasted to grow to over $9 billion in 2009, according to a new ARC Advisory Group study.
Many elements of modern information technology are being incorporated into PLCs, raising their attractiveness as a center stage plant floor controller among worldwide manufacturers. "Global manufacturers are challenged to seek automation equipment that supports their business objectives such as improving return on assets, enhancing overall equipment effectiveness, and providing real-time performance management. The PLC, being primarily an automation controller designed with modern IT features, plays a key role in supporting these objectives," according to senior analyst Himanshu Shah, the principal author of ARC's "Programmable Logic Controller Worldwide Outlook."
Although overall capital expenditures have remained flat in previous years, globalization is increasingly causing manufacturers to allocate ongoing investments towards automation in order to drive down costs and raise the quality of manufactured products. A modest turnaround in overall capital spending in 2005 and beyond is expected as manufacturers gear up production to meet rising global demand.
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Annual Salary Survey
Before the calendar turned, 2016 already had the makings of a pivotal year for manufacturing, and for the world.
There were the big events for the year, including the United States as Partner Country at Hannover Messe in April and the 2016 International Manufacturing Technology Show in Chicago in September. There's also the matter of the U.S. presidential elections in November, which promise to shape policy in manufacturing for years to come.
But the year started with global economic turmoil, as a slowdown in Chinese manufacturing triggered a worldwide stock hiccup that sent values plummeting. The continued plunge in world oil prices has resulted in a slowdown in exploration and, by extension, the manufacture of exploration equipment.
Read more: 2015 Salary Survey