According to the latest report by IMARC Group, titled "Power Line Communication Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2021-2026," the global power line communication market exhibited strong growth during 2015-2020. 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.
We are regularly tracking the direct effect of COVID-19 on the market, along with the indirect influence of associated industries. These observations will be integrated into the report.
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 around 11.5% during 2021-2026.
- Based on the frequency, the market is bifurcated into narrowband (3kHz to 500kHz) 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 modular technique, the market has been segregated into single carrier, multi carrier, speed 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.
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