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Power Line Communication (PLC) Market: By Offering (Hardware, Software, Services), By Application (Networking, Smart Grid, Long-Haul), By Industry Vertical (Commercial, Residential, Industrial), And Region - Global Analysis of Market Size, Share & Trends For 2021-2022 And Forecasts To 2032
Power Line Communications (PLC) technique utilizes the existing public and private wiring to transmit signals. High-speed data, speech, and video are sent across low-voltage power lines using PLC communication signals. It uses a modular signal to deliver broadband data communications on conductors that are already being used for the transmission of electric power. Now, this may be accomplished through the wiring of the house or building or through the current electrical power distribution system. PLC is a type of communication technology that uses a sender to modulate the data that will be transmitted via a communication medium, followed by a receiver to demodulate the data for subsequent uses.
Power Line Communication (PLC) to surpass USD 26.3 billion by 2032 from USD 7.95 billion in 2021 at a CAGR of 11.5% in the coming years, i.e., 2022-32. The cost-effective installation and wide coverage made possible by using the current electricity distribution network are majorly driving the Power Line Communication (PLC) Market. Moreover, the expanding adoption of smart grids, and high penetration of broadband power line communication devices in indoor networking applications are a few other factors that are anticipated to drive the Power Line Communication (PLC) Market.
Power Line Communication (PLC) Market is categorized on the basis of Offering into Hardware, Software, and Services. In 2021, the hardware sector held a major share of the Power Line Communication (PLC) Market. This is attributed to the widespread implementation to meet the connectivity requirement in Internet of Things applications. As a result of their smooth connection to the power lines and the lack of need for further infrastructure development, hardwired solutions are also becoming into distinctive IoT connectivity choices.
Power Line Communication (PLC) Market is categorized on the basis of Industry Vertical into Commercial, Residential, and Industrial. Through 2030, the commercial sector is anticipated to grow at a significant rate. Office buildings, hotels, shopping centers, and other commercial spaces now require much more power connectivity. This will accelerate the use of power line transmission technologies in commercial buildings for a variety of purposes, including data transmission, power monitoring, and demand control.
Power line communication technology enables for widespread coverage in addition to being cost-effective. Given the abundance of power lines, power line communication technology can be used to manage and monitor almost all of the devices that get electricity from these lines. Power line communication technology is particularly helpful for communicating with equipment that are situated in remote locations without access to communication infrastructure since it makes use of the already-existing electricity distribution network. A greater regional network coverage is made possible and the Power Line Communication (PLC) Market is impacted as a result of the growth of each energy distribution network.
Power Line Communication (PLC) Market growth is primarily being driven by the rising need for improved efficiency, quicker data transmission rates, and expanding demand for broadband power line communication equipment. One of the main reasons boosting market growth is the rising need for smart grids coupled with the widespread use of power line communications.
One of the primary distortion variables that affect how well communication systems over power lines work is noise. Electrical equipment that is connected to the electric grid and radio broadcasters that transmit signals over short, middle, and long wave ranges all contribute to noise production. The performance of power line communication systems is inversely correlated with the noise on the power line. It is more difficult to discern the received signal as the noise level rises. The performance of a home network using power line communication technologies may suffer as a result.
Company Overview, Business Strategy, Key Product Offerings, Financial Performance, Key Performance Indicators, Risk Analysis, Recent Development, Regional Presence, SWOT Analysis
Power Line Communication (PLC) Market is segmented based on regional analysis into five major regions: North America, Latin America, Europe, Asia Pacific and the Middle East and Africa. Europe had the greatest share for Power Line Communication (PLC) Market in 2021, and is anticipated to continue its dominance throughout the forecast period at a considerable CAGR. The dominance is followed by APAC. The region with the biggest market share was Europe, and Italy was a significant contributor. Due to the widespread use of power line communication technology-based products for enhanced metering, substation communication, and network expansion applications, Europe now holds a prominent position in the market.
Following the COVID-19 epidemic, there was a sharp decline in global spending on smart grids, primarily due to interruptions in the economy. Moreover, investments in electrical infrastructure will probably reach pre-pandemic levels as limitations gradually become less onerous.
REPORT ATTRIBUTE |
DETAILS |
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Market Size Value in 2021 |
USD 7.95 billion |
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Revenue Forecast in 2032 |
USD 26.3 billion |
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Growth Rate |
CAGR of 11.5% from 2022 to 2032 |
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Base Year for Estimation |
2021 |
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Quantitative Units |
Revenue in USD billion and CAGR from 2022 to 2032 |
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Report Coverage |
Revenue forecast, company ranking, competitive landscape, growth factors, and trends |
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Segments Covered |
Offering, Application, Industry Vertical, and Region |
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Regional Scope |
North America, Europe, Asia Pacific, Latin America, Middle East & Africa (MEA) |
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Key Companies Profiled |
Siemens AG, Panasonic Corporation, General Electric Company, Schneider Electric SE, NXP Semiconductors N.V., Hitachi, Renesas Electronics Corporation, Hubbell Incorporated, Maxim Integrated Products, Netgear, AMTEK, Belkin International, Devolo AG, D-Link Corporation, Echelon Corporation, and Other Prominent Players. |
The Power Line Communication (PLC) Market size was estimated at USD 7.95 billion in 2021 and is expected to reach USD 26.3 billion in 2032.
The Power Line Communications (PLC) technique utilizes the existing public and private wiring to transmit signals. High-speed data, speech, and video are sent across low-voltage power lines using PLC communication signals.
The Hardware and Commercial segments accounted for the larger share of the Power Line Communication (PLC) Market.
Key players in the Power Line Communication (PLC) Market are Siemens AG, Panasonic Corporation, General Electric Company, Schneider Electric SE, NXP Semiconductors N.V., Hitachi, Renesas Electronics Corporation, Hubbell Incorporated, Maxim Integrated Products, Netgear, AMTEK, Belkin International, Devolo AG, D-Link Corporation, Echelon Corporation, and Other Prominent Players.
The expanding adoption of smart grids, and high penetration of broadband power line communication devices in indoor networking applications are some of the factors that are anticipated to drive the Power Line Communication (PLC) Market.
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