Global Power Line Communication Market to Grow at 9.2% During 2024-2032, Supported by Rapid Deployment of Smart Grid Systems

June 14, 2021 | Technology & Media

According to the latest report by IMARC Group, titled "Power Line Communication Market Report by Frequency (Narrowband (3 kHz to 500 kHz), Broadband (Greater Than 500 kHz)), Voltage (Low, Medium, High), Offering (Hardware, Software, Services), Modulation Technique (Single Carrier Modulation, Multi Carrier Modulation, Spread Spectrum Modulation, and Others), Application (Energy Management and Smart Grid, Indoor Networking), Vertical (Residential, Commercial, Industrial), and Region 2024-2032," the global power line communication market reached a value of US$ 10.2 Billion in 2023. Power line communication (PLC) refers to a communication technology that uses the existing power cables for transmitting signals over power-grid infrastructure. It also allows the user to monitor and control all the connected devices simultaneously. There are two kinds of PLC, namely narrowband and broadband. PLC is a reliable communication medium for various Internet of Things (IoT) and smart grid applications. As compared to traditional methods of transmission, PLC offers lower implementation costs, larger reach, reduced operational capital, and higher speed. As a result, it is widely adopted in telecommunication, tele-protection and telemonitoring.

Global Power Line Communication Market Trends:

A significant increase in the deployment of smart grids to reduce carbon dioxide emissions represents the key factor driving the global PLC market growth. This is further supported by continuous investments in research and development (R&D) activities by governments of various nations to establish renewable energy facilities. Additionally, an expansion in the electricity distribution network and the increasing utilization of PLC for communicating with remotely located devices are contributing to the market growth. Moreover, the rising establishment of advanced broadband power line devices in indoor networking applications for the construction of smart homes is acting as a growth-inducing factor. In line with this, PLC solutions are being extensively employed in outdoor lighting systems for various commercial and industrial complexes, which is creating a positive outlook for the market. Looking forward, the market is expected to grow at a CAGR of 9.2% during 2024-2032.

Market Summary:

  • Based on the frequency, the market is bifurcated into narrowband (3 kHz to 500 kHz) and broadband (greater than 500 kHz)
  • On the basis of the voltage, the market has been segmented into low, medium, and high.
  • Based on the offering, the market has been divided into hardware, software, and services.
  • On the basis of the modulation technique, the market has been segregated into single carrier, multi carrier, spread spectrum modulation, and others.
  • Based on the application, the market has been bifurcated into energy management and smart grid and indoor networking.
  • On the basis of the vertical, the market has been classified into residential, commercial, and industrial.
  • On the geographical front, the market has been segregated into North America (the United States and Canada), Europe (Germany, France, the United Kingdom, Italy, Spain, Russia and others), Asia Pacific (China, Japan, India, South Korea, Australia, Indonesia and others), Latin America (Brazil, Mexico and others), and Middle East and Africa.
  • The competitive landscape of the market has also been examined, with some of the key players being ABB, AMETEK Inc., Belkin, Broadcom Inc., Cypress Semiconductor, D-Link Corporation, General Electric, Hubbell Power Systems Inc., Landis+Gyr, Maxim Integrated, Netgear, Schneider Electric, Siemens, TP-Link Technologies, Zyxel Communications, etc.

Report Scope:

Report Features Details
Base Year of the Analysis 2023
Historical Period 2018-2023
Forecast Period 2024-2032
Units US$ Billion
Segment Coverage Frequency, Voltage, Offering, Modulation Technique, Application, Vertical, Region
Region Covered Asia Pacific, Europe, North America, Latin America, Middle East and Africa
Countries Covered United States, Canada, Germany, France, United Kingdom, Italy, Spain, Russia, China, Japan, India, South Korea, Australia, Indonesia, Brazil, Mexico
Companies Covered ABB, AMETEK Inc., Belkin, Broadcom Inc., Cypress Semiconductor, D-Link Corporation, General Electric, Hubbell Power Systems Inc., Landis+Gyr, Maxim Integrated, Netgear, Schneider Electric, Siemens, TP-Link Technologies and Zyxel Communications
Customization Scope 10% Free Customization
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Global Power Line Communication Market to Grow at 9.2% During 2024-2032, Supported by Rapid Deployment of Smart Grid Systems
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