Micro and Nano PLC Market Present Scenario and Growth Prospects from 2018 to 2024: Global Market Insights, Inc. 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. Micro and Nano PLC Market size is projected to experience a substantial growth during the forecast timeframe owing to applications in the industrial sector and the demand for compact automation solutions. For instance, industrial robots are gaining traction owing to their ability to improve production efficiency and reduce costs. These are the essential components in industrial robotic systems and the rising adoption of these systems across the world is amplifying the growth of the micro and nano PLC market during the forecast timeframe.
These components provide significant benefits over traditional PLC chips owing to the simpler programming and the high flexibility, making them an ideal choice in various applications such as security systems, conveyor automation, and building and parking lobby lighting systems. The increasing cost of energy and factory spaces is propelling manufacturers to shift away from large-footprint and multi-processor architectures toward centralized control, driving the micro and nano PLC market. The production of this technology in smaller sizes allows end users to reduce their power usage by over 50% as compared to the conventional technology. A major factor restraining the growth of the micro and nano PLC market is the high additional costs incurred in expanding the I/O capability of these components contain a significantly lower number of I/O points. The industry is subject to significant security risks that pose major challenges to its growth. These systems can be infected by a malicious program leading to malfunctioning, causing significant delays and financial losses to its users. For instance, Stuxnet is a malware that was used to sabotage Iran’s nuclear program. In the light of the rising trend of Industry 4.0, the micro and nano PLC market is anticipated to gain traction. There is a high focus on the adoption of technologies and devices that consume lesser power and space, reducing the overall total costs of designing and manufacturing a system. Additionally, the proliferation of sensors required to track environmental and process variables is continuously increasing, 1|Page