London, 11 May 2015: Technavio, the independent tech-focused global research firm, has published a report on the programmable logic controller (PLC) market in Europe 2015-2019, which is expected to grow at a CAGR of 7.44% during the forecast period of 2014-2019.
The automotive industry in Europe has shown some recovery in the five major countries of Western Europe: Germany, Italy, Spain, the UK, and France. 2014 was the first positive year for Europe in terms of car sales since the GFC. The growing demand for passenger cars and commercial vehicles is expected to fuel automobile production, thus leading to capacity expansion and increased PLC implementation in new production plants.
“The ECB economy stimulus plan is expected to boost the European economy and encourage industrial activities in the region. The QE program is designed to pump nearly $67 billion every month into the EU economy till September 2016,” says Faisal Ghaus, Vice President of Technavio.
“Every month, the ECB will purchase 60 billion euros worth of assets that include European institution debt securities, government bonds, and private sector bonds. This spending can be extended if the ECB does not achieve its inflation target of just below 2%.”
Key Market Drivers
- Rise in Automotive Sales
- Need for Regulatory Compliance and Improved Safety and Control Capabilities
- Increased Demand for Enhanced Efficiency in Manufacturing
Key Market Trends
- ECB Stimulus Package
- Increased Demand for Cyber-secure PLCs
- Increased Adoption of Integrated PLCs
Key Market Vendors
- ABB Ltd.
- GE Co.
- Mitsubishi Electric Corp.
- Rockwell Automation Inc.
- Schneider Electric Co.
- Siemens AG
- Yokogawa Electric Corp.
To define the market circumstances in the next 3-4 years, Technavio analysts have conducted in-depth analysis of the impact of market drivers, challenges and trends featuring data on product segmentations, vendor shares, growth rate by revenue and an evaluation of the different buying criteria in the order of importance.
https://www.technavio.com/%3Cp%3EIf%20you%20are%20interested%20in%20more%…
