Business Daily from THE HINDU group of publications
Friday, Aug 18, 2006
Business Daily from THE HINDU group of publications Friday, Aug 18, 2006 |
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Info-Tech
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Software `PLC market poised for growth in India' Our Bureau
Hyderabad , Aug. 17 Rising consumer demand and India's economic growth are propelling the country's manufacturing sector that is in turn driving the programmable logic controller (PLC) market in the country, according to an ARC Advisory Group study report. The country's PLC market has reached $150 million in 2005 and is expected to grow at a compounded annual growth rate (CAGR) of 19.2 per cent over the next five years. The growing middle class with disposable income to spend is creating a huge demand for a broad range of manufactured goods, fuelling the growth of a variety of process and manufacturing industries in India, the report released recently observed. According to Mr Himanshu Shah, Co-author of the report: "The growing manufacturing sector is intensely competitive. This makes manufacturers rely on automation to improve profitability. With manufacturers increasing their automation spending, the outlook for the PLC market is extremely bright." With PLCs remaining the key automation solution for several industries, and their application in process industries expanding, investments in these sectors are boosting the PLC market in India. These PLCs are used to improve return on assets, and to enhance overall effectiveness leading to increasing usage in the manufacturing industries.
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