PUBLISHER: The Business Research Company | PRODUCT CODE: 1465861
PUBLISHER: The Business Research Company | PRODUCT CODE: 1465861
Power line communication (PLC) is a communication technology that leverages existing electrical power lines to transmit data signals, facilitating communication and connectivity for applications such as smart grids, home automation, and industrial control systems. This technology enables the simultaneous transmission of both power and data signals, providing a convenient and cost-effective solution for establishing communication networks.
The primary offerings in power line communication (PLC) include hardware, software, and services. Hardware refers to the tangible components of a computer system or electronic device that can be touched and manipulated. Various frequencies, including narrowband and broadband, are utilized for diverse applications such as networking, smart grids, and long-haul communication. PLC finds applications across various industry verticals, including commercial, residential, and industrial sectors.
The power line communication (PLC) market research report is one of a series of new reports from The Business Research Company that provides power line communication (PLC) market statistics, including power line communication (PLC) industry global market size, regional shares, competitors with a power line communication (PLC) market share, detailed power line communication (PLC) market segments, market trends and opportunities, and any further data you may need to thrive in the power line communication (PLC) industry. This power line communication (PLC) market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenario of the industry.
The power line communication (PLC) market size has grown rapidly in recent years. It will grow from $10.14 billion in 2023 to $11.43 billion in 2024 at a compound annual growth rate (CAGR) of 12.7%. The growth observed in the historical period can be attributed to the early adoption in home networking, the implementation of smart grid initiatives, the development of broadband over power line (BPL) technology, and the increased availability of bandwidth and higher data rates.
The power line communication (PLC) market size is expected to see rapid growth in the next few years. It will grow to $18.22 billion in 2028 at a compound annual growth rate (CAGR) of 12.4%. The anticipated growth in the forecast period can be attributed to the integration of 5G and beyond technologies, the rising prevalence of edge computing and edge devices, the implementation of advanced metering infrastructure (AMI), increased availability of bandwidth and higher data rates, and a growing emphasis on sustainability and environmental considerations. Key trends expected in the forecast period encompass the expansion of Internet of Things (IoT) applications, electric vehicle-to-grid (V2G) communication, integration of distributed energy resources (DERs), advancements in smart cities and infrastructure, incorporation of artificial intelligence and machine learning, as well as an increased focus on standardization and interoperability.
The anticipated growth of the power line communication market is driven by the increasing interest in industrial automation and control systems. Industrial automation and control systems are technologies designed to automate and monitor manufacturing processes, machinery, and equipment in industrial settings, thereby enhancing efficiency, productivity, and safety. The rise in industrial automation and control systems can be attributed to their ability to improve operational efficiency, product quality, safety, and adaptability to dynamic market demands across various industries. Power line communication (PLC) within these systems enables reliable and cost-effective data transmission over existing power lines, enhancing communication efficiency and connectivity within industrial environments. For instance, in May 2022, a survey conducted by Rockwell Automation Inc., a US-based provider of industrial automation and digital transformation technologies, revealed a remarkable 50% year-over-year growth in the adoption of smart factory technologies among 321 manufacturers. Additionally, 74% of the surveyed manufacturers are either currently utilizing or planning to integrate artificial intelligence into their manufacturing operations, with 83% planning to upgrade their modernization processes into smart factories. Hence, the growing interest in industrial automation and control systems is a key driver for the power line communication market's growth.
Leading companies in the power line communication (PLC) market are intensifying their focus on developing advanced solutions, including next-generation powerline communication devices, to secure a competitive advantage. A next-generation powerline communication device is an advanced system that enables data transmission over existing electrical wiring, enhancing connectivity and supporting smart home applications. For example, in May 2022, Qualcomm, a US-based technology company, introduced the QCA7006AQ, a next-generation powerline communication device specifically designed to support smart-grid communications between electric vehicles and charging stations. Complying with the HomePlug Green PHY (HPGP) specification for vehicle-to-grid (V2G) systems, the QCA7006AQ facilitates seamless authentication on the network for plug-and-charge automated payments during EV charging. This device enables the coordination of energy flow between the grid and the home, supporting smart-grid charging applications under the CCS (Combined Charging System) standard.
In March 2023, Tata Power Company Limited, an India-based electric power distribution company, joined forces with Enel S.p.A. to implement smart metering and automation technologies. This collaboration entails deploying smart metering and automation technologies in India's distribution network, providing a robust, efficient, and secure communication channel that automatically switches between power line communication (PLC) and radio frequency (RF) channels based on real-time field conditions. Enel S.p.A., based in Italy, is an electric company that provides digital and smart grids, including power line communication systems.
Major companies operating in the power line communication (plc) market are Hitachi Energy Ltd., Siemens AG, General Electric Company, Schneider Electric SE, ASEA Brown Boveri (ABB Ltd.), STMicroelectronics N.V., Renesas Electronics Corporation, AMETEK Inc., Hubbell Power Systems, Landis+Gyr AG, Zyxel Communications Corporation, NETGEAR Inc., D-Link Corporation, Belkin International LLC, TP-Link Technologies Co Ltd., Devolo AG, Corinex Communications Corp., NetComm Wireless Limited, Billion Electric Co. Ltd., Atmel Corporation, Echelon Corporation, Xemex NV
North America was the largest region in the power line communication (PLC) market in 2023. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the power line communication (plc) market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
The countries covered in the power line communication (plc) market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Canada, Italy, Spain.
The power line communication (PLC) market consists of revenues earned by entities by providing services such as home remote meter reading, distribution automation services, industrial automation services, and internet service provision. The market value includes the value of related goods sold by the service provider or included within the service offering. The power line communication (PLC) market also includes sales of power line communication modems and adapters, power line communication chips and modules, and power line communication-based communication modules. Values in this market are 'factory gate' values, that is the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors, and retailers) or directly to end customers. The value of goods in this market includes related services sold by the creators of the goods.
The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified).
The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.
Power Line Communication (PLC) Global Market Report 2024 from The Business Research Company provides strategists, marketers and senior management with the critical information they need to assess the market.
This report focuses on power line communication (PLC) market which is experiencing strong growth. The report gives a guide to the trends which will be shaping the market over the next ten years and beyond.
Where is the largest and fastest growing market for power line communication (PLC) ? How does the market relate to the overall economy, demography and other similar markets? What forces will shape the market going forward? The power line communication (PLC) market global report from the Business Research Company answers all these questions and many more.
The report covers market characteristics, size and growth, segmentation, regional and country breakdowns, competitive landscape, market shares, trends and strategies for this market. It traces the market's historic and forecast market growth by geography.
The impact of sanctions, supply chain disruptions, and altered demand for goods and services due to the Russian Ukraine war, impacting various macro-economic factors and parameters in the Eastern European region and its subsequent effect on global markets.
The impact of higher inflation in many countries and the resulting spike in interest rates.
The continued but declining impact of COVID-19 on supply chains and consumption patterns.