ENGINEERINGNET.EU -- The European PLC market witnessed a heavy decline in growth in 2009, owing to the recession of 2008. However, it made a strong recovery in 2010 with all major market participants in Europe experiencing high growth.
"The global economic crisis and the sovereign debt crisis of Europe have created an atmosphere of uncertainty, with fewer projects expected in the next 2 years," cautions Frost & Sullivan Senior Research Analyst Karthik Sundaram.
“This is poised to have a significant impact on the general industrial automation market and on the European PLC market.”
Especially the small and medium PLC product segment will be instrumental in sustaining market growth and expansion in the coming years.
A major trend defining the market will be increasing end user concerns over cyber security. “ Cyber security is expected to be the key parameter in safety regulations and standards that are about to be introduced in January 2012, ” explains Sundaram.
The European PLC market has earned revenues of €1563.7 million in 2010 and is estimated to reach €2597.3 million in 2017.
(picture: Siemens)
