The Nano PLC market in North America was valued at US$ 890.1 million in 2019 and is projected to reach US$ 2,776.3 million by 2027; it is expected to grow at a CAGR of 15.8% from 2020 to 2027. The growth of the market in North America is attributed to the growing demand for compact automation solutions in industries and increasing preference for upgrading the conventional control systems with Nano PLCs. However, the lack of awareness and availability of other control devices restrain the growth of this market. Despite these limitations, the market in this region is anticipated to witness impressive growth during the forecast period.
Hardware and software are the major categories of components offered by Nano PLC market players. The hardware segment led the North America Nano PLC market, based on component in 2019. Hardware components that go in nano PLCs include power supply, CPU, memory, I/O modules, and communication interface for its operation.
The overall North America 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 North America nano PLC market. Emerson Electric Co, IDEC Corporation, and Keyence Corporation are among the major players operating in the market in this region.