Power Line Communication (PLC) Market size is set to surpass USD 20 billion by 2027, according to a new research report by Global Market Insights Inc.
Increasing developments in smart grid infrastructure and industrial communications is likely to drive the PLC market growth. Rising smart city developments and the adoption of relative technology solutions are fueling the adoption of PLC technology solutions across enterprises. Additionally, developments in smart metering and OFDM technology are expected to support industry demand.
The growing emphasis on enhanced energy management and data collection is fueling the software segment growth
The market size from software is projected to grow at around 15% CAGR through 2027. The software leverages Ethernet communications to acquire target values, measured values, and control output values from a controller installed on-site. It also provides detailed information on energy consumption patterns, which are measured via voltage/current/phase of the AC power line. Significant software developments and technology capabilities are driving the market revenue.
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Extended performance and network connectivity to spur the broadband demand
The broadband segment is estimated to hold above 30% of the PLC market revenue share by 2027. Broadband PLC is primarily used in short-range applications and operates at higher frequencies & data rates. It is a substitute for Wi-Fi, DSL, or traditional cable as a solution for home multimedia networking and internet distribution. The ability to support high-performance broadband services, such as video streaming and cloud services, is poised to augment the market statistics.
Browse key industry insights spread across 356 pages with 454 market data tables and 46 figures & charts from the report, “Power Line Communication (PLC) Market Size, By Offering (Hardware, Software [Data Acquisition and Management, Energy Management], Service [Professional Service, Maintenance & Repair]), By Frequency (Narrowband, Broadband), By Application (Smart Grid, Networking, Long-haul), By Industry Vertical (Residential, Commercial, Industrial [Automotive & Transportation, Energy & Power]), COVID-19 Impact Analysis, Regional Outlook, Growth Potential, Competitive Market Share & Forecast, 2021 – 2027” in detail along with the table of contents:
Need for a widespread communication network across multiple industry verticals
The long-haul application is anticipated to witness exponential growth from 2021 to 2027. The communication traffic over long distances is supported by long-hauls. The high-definition PLC enables the management of digital data transmission and analog voice communication across large geographies. This also facilitates data transmission between cities and towns. The advanced functional capabilities related to data transmission are contributing to the market growth.
The commercial segment is expected to grow significantly in the global market
The power line communication market from commercial applications is set to observe significant growth till 2027. The growing emphasis on smart utilities by commercial infrastructure developers is enabling the demand for PLC solutions. Several commercial enterprises are deploying multiple hardware components supporting PLC technology. For instance, in 2020, in New York City, six Multi-Dwelling Units (MDU) properties have been installed using PLC technologies to deliver sustainable services to businesses in the commercial space. Similar deployments and consistent demand from commercial enterprises will foster the segment growth.
The rapid industrialization and technology developments across Asia Pacific are propelling the PLC solutions market demand
Asia Pacific market is predicted to account for more than USD 5 billion by 2027 on account of extensive industrial developments and favorable technology developments. For instance, in March 2021, HD-PLC Alliance launched the Global Strategy Preparatory Office, a new ad-hoc working group, for the development of high-speed PLC and high-speed wired communications. The new PLC supports various systems such as smart meters, Factory-Automation (FA), Building-Automation (BA), etc. The presence of industry consortiums and developments are contributing to the market growth.
Focus on new product development and portfolio expansion by key players to boost market share
Companies operating in the PLC market are focusing on new product development and portfolio expansion. For instance, in May 2021, STMicroelectronics launched S2-LP and ST8500 chipsets to support G3-PLC Hybrid wireless and PLC. These chipsets allow connectivity across diverse components & applications including smart city, smart grid, IoT, and industrial applications. This launch helped the company to cater to the rising demand for PLC technology solutions in multiple applications.
Some of the key power line communication market players are AMTEK Ltd., Belkin International, Inc., Devolo AG, D-Link Corporation, Echelon Corporation (Dialog Semiconductor Plc.), General Electric Company, Hitachi Ltd., Hubbell Incorporated, Landis+Gyr AG, Maxim Integrated Products, Inc., Netgear Inc., NXP Semiconductors N.V., Panasonic Corporation, Renesas Electronics Corporation, Schneider Electric SE, Siemens AG, STMicroelectronics N.V., Texas Instruments Incorporated, TP-Link Corporation Limited, and Zyxel Communications Corp.