Power Line Communication (PLC) Market Size, Industry Analysis Report, Regional Outlook, Growth Potential, Competitive Market Share & Forecast, 2020 - 2026
Report ID: GMI2987
Power Line Communication Market size is anticipated to grow exponentially over the forecast years led by growing deployment of smart grids. Smart grids have emerged as a major technological advancement after the invention of the internet. Governments across the countries are investing intensively for the development and deployment of the smart grid to reduce carbon dioxide emissions. This enhances the performance of the electricity supply by providing real-time monitoring of the transmission, distribution, and generation of the network. Furthermore, its ability to render the utilization of the base load power plants and electricity transport infrastructure more efficiently drives the PLC market.
The PLC technology enables the transmission of the data over the power line, leveraging on the existing wiring infrastructure. Its cost-effectiveness, reliability, and high performance in multiple domains across different verticals are the primary factors driving its adoption in the market.
The growing adoption of the smart home and home automation solution across the countries is also propelling the market growth. The incorporation of artificial intelligence in the home automation solutions is the primary factor driving its adoption in the market. The development of the advanced, smaller, and low-cost sensors & actuators that gather information in real-time also promotes the development of home automation solutions.
The PLC market is characterized into narrowband and broadband PLC based on data transfer rates over the powerline. Narrowband PLC is estimated to grow significantly during the forecast period due to the technological advancements and the rapid proliferation of IoT devices across the industry sector. Moreover, the advancements in the technology have paved the way for the use of PLC in the narrowband space.
The technology has been used in a wide variety of applications including industrial, commercial, and residential. The industrial sector accounts for a majority share in the PLC market due to the extensive adoption of the PLC solutions in the consumer electronics, automotive, transportation, and railroad applications. The residential sector is estimated to grow significantly during the forecast period due to the growing application of the technology in home automation, smart grid, and home utility applications.
North America holds a majority share in the PLC market. This market growth is credited to the high adoption of the smart home and home automation solutions in the region. The installed base of the smart home and home automation solutions was estimated to be more than 10 million in the year 2015 and the number is estimated to double by the year 2020. Furthermore, the increasing penetration of smart grid solutions in the region also drives the demand for PLC solutions.
Europe is a lucrative region for the PLC market. The increasing adoption of the smart grid solutions and the increasing investments in the deployment of smart meters across the region will augment the market growth. Furthermore, supportive government initiatives for accelerating the adoption of the smart meters also drive the market. For instance, the European Union is aiming at replacing more than 80% of the energy meters with the smart meters by 2020.
The key players operating in the PLC market are Siemens, NETGEAR, ABB, AMETEK, Schneider Electric, General Electric, Hubbell Power Systems, TP-Link Technologies, D-Link, Devolo, Zyxel Communications, Belkin International, NYX Hemera Technologies, Extollo Communications, and Asustek Computer.
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