The Nano PLC market in Asia-Pacific was valued at US$ 1,169.4 million in 2019 and is projected to reach US$ 2,008.6 million by 2027; it is expected to grow at a CAGR of 7.1% from 2020 to 2027. Nano PLCs increase the flexibility of control applications. These PLCs are cost-affective, compact, easy to integrate, and energy efficient. These advantages nano PLCs over conventional control systems are anticipated to drive the demand for the same during the forecast period, thereby fueling the market in this region.
Nano PLCs offer a cost-effective, less complex, and energy and space saving automation solution for home and building automation applications. Hence, the rising demand for innovative and flexible automation solutions in residential and commercial buildings offers opportunities for the future growth of the Nano PLC market players in Asia-Pacific region.
The overall Asia-Pacific Nano PLC market size has been derived using both primary and secondary sources. To begin the research process, exhaustive secondary research has been conducted using internal and external sources to obtain qualitative and quantitative information related to the market. The process also serves the purpose of obtaining overview and forecast for the nano PLC market with respects to all the segments pertaining to the region. Also, multiple primary interviews have been conducted with industry participants and commentators to validate the data, as well as to gain more analytical insights into the topic. The participants are typically involved in this process include industry expert such as VPs, business development managers, market intelligence managers, and national sales managers along with external consultants such as valuation experts, research analysts, and key opinion leaders specializing in the Asia-Pacific nano PLC market. Emerson Electric Co, IDEC Corporation, and Keyence Corporation are among the major players operating in the market in this region.