Major Power Line Communication (PLC) Market include AMTEK Ltd., General Electric Company, Hitachi Ltd., STMicroelectronics N.V., Panasonic Corporation, Schneider Electric SE, Siemens AG, and TP-Link Corporation Limited, and others.
SELBYVILLE, Del., Sept. 8, 2022 /PRNewswire/ -- The power line communication market is expected to record a valuation of USD 35 billion by 2030, according to a new research report by Global Market Insights Inc.
A rise in smart grid infrastructure spending is projected to add impetus to the industry growth. Based on data from the International Energy Agency, smart grid and digital investments are expected to triple by 2030 to account for over 40% of the total spending in this decade. PLC networks can also help businesses commercialize machine-to-machine communication. The rising development of smart cities and the deployment of relative tech solutions will thus proliferate the usage of PLC as a natural communication technology for smart grids.
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Increasing need for functional testing of PLC systems
The power line communication market from the service segment is estimated to attain 20% growth rate till 2030. The requirement to manage functional and installation testing of PLC systems has increased considerably. This testing can ensure the overall integration of communication among all network components, thus bolstering the industry size from the service segment.
Ease of communication via broadband connections
The broadband segment held over 35% of the power line communication market share in 2021 due to the rising awareness of the ease of communication because of broadband connections. Broadband over Power line technology with PLC is also extensively used in distant areas with limited Internet via PDSL and cable connections.
Long-haul power line communication segment to gain traction
The long-haul segment in the power line communication market is poised to register 15% CAGR through 2030. Long-haul can handle communication traffic over long distances worldwide as well as nationwide. Safety and monitoring requirements are also more stringent for high-voltage AC and DC transmission lines, requiring long-haul communication techniques.
Growing expansion of power line communication across industrial sector
The industrial segment is predicted to observe 15% gains by 2030 owing to the rising expansion of modern industrial facilities with advanced sensor devices and equipment. The need to boost data transfer and communication, performance, and operational efficiencies is also increasing across the energy and power sector, augmenting segmental demand.
Large-scale smart grid deployment to define LATAM industry landscape
The Latin America power line communication market is anticipated to reach USD 3 billion by 2030, credited to the growing popularity of automation solutions across industrial sectors, such as automotive, in Mexico, Argentina, and other LATAM countries. In September 2021, the U.S. Trade & Development Agency (USTDA) provided a grant to the Brazilian Association of Electricity Distributors to allow large-scale smart grid deployment across the country. These initiatives will further escalate the deployment of this technology in the region.
Introduction of certified products to remain a key growth strategy
Major players operating in the power line communication market are General Electric Company, STMicroelectronics N.V., Panasonic Corporation, Schneider Electric SE, Develo AG, and TP-Link Corporation Limited, among other companies. These leaders are emphasizing product range expansions to retain their foothold across the market.
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Table of Contents (ToC) of the report
Chapter 3 Power Line Communication Market Insights
3.1 Introduction
3.2 COVID-19 impact
3.3Ukraine-Russia war impact
3.4 Industry evolution
3.5 Industry ecosystem analysis
3.6 Investment portfolio
3.7 News
3.8 Patent analysis
3.9 Technology & innovation landscape
3.9.1 Smart metering infrastructure
3.9.2 Orthogonal frequency-division multiplexing (OFDM)
3.10 Regulatory landscape
3.11 Industry impact forces
3.11.1 Growth Drivers
3.11.1.1 Rising demand for PLC systems in advanced metering infrastructure
3.11.1.2 Increasing demand for cost-effective installations
3.11.1.3 Upsurge in the growth of smart buildings concept
3.11.1.4 Renewable energy integration and restructuring of electric infrastructure
3.11.1.5 Emergence of PLC as a low-cost solution
3.11.2 Industry pitfalls and challenges
3.11.2.1 Interference and radio static
3.11.2.2 Availability of other alternatives
3.12 Growth potential analysis
3.13 Porter's analysis
3.14 PESTEL analysis
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