Power Line Communication (PLC) Systems Market, Size, Share, Growth, and Industry Analysis, By Type (Narrowband PLC and Broadband PLC), By Application (Commercial, Residential, Smart Grid, Automotive, and Others), Regional Insights, and Forecast From 2024 To 2032

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POWER LINE COMMUNICATION (PLC) SYSTEMS MARKET REPORT OVERVIEW

The global power line communication (plc) systems market size was USD 7.18 billion in 2023 and is projected to grow from USD 7.94 billion in 2024 to USD 17.92 billion by 2032, exhibiting a CAGR of 10.6% during the forecast period. Asia-Pacific holds leading position in power line communication (plc) systems market share in 2023.

A technology that uses electrical wiring to carry electric power and data is known as a power line communication (PLC) system. This system allows the exchange of data over power lines, thus, known as power line communication. It is used for both commercial and residential applications to reduce leakage of power and enable power management. It uses power grids to communicate between two nodes. It has various advantages, such as low system complexity, high efficiency, and reduced system maintenance costs. It also allows the user to control, receive, and transmit data in a half-duplex manner.

These communication systems are a reliable medium for data transmission and communication for various smart grids and Internet of things applications. It is majorly used to power electronic devices and to control or retrieve data through them. Generally, two types of power line communication (PLC) systems are available in the global market, broadband and narrowband. The broadband works at higher data rates and frequencies and can also be used in shorter-range applications. Whereas narrowband PLC works at lower data rates and frequencies but can have an extended range.

COVID-19 Impact: Rise in Consumption of Internet Served Growth in the Market

The global COVID-19 pandemic has been unprecedented and staggering, with power line communication (PLC) systems experiencing higher-than-anticipated demand across all regions compared to pre-pandemic levels. The sudden spike in CAGR is attributable to demand returning to pre-pandemic levels once the pandemic is over.

The pandemic created a slump at the beginning of the lockdown. But, the IT industry rapidly adopted a remote work culture. The adoption of remote working led to increased demand for power line communication (PLC) systems as the ICT industry was adopting this technology at a severe pace. The rise in internet usage due to work-from-home activity boosted growth even during the pandemic. The demand for entertainment increased during the lockdown period, which boosted internet consumption. The outbreak of the pandemic created a lucrative growth opportunity for the market.

LATEST TRENDS

"Extensive Coverage Service to Boost the Market Growth"

The market is expected to be driven by power line communication systems' capacity to offer extensive coverage and affordable solutions. The majority of the equipment powered by these lines may be easily observed and managed. For communication, these systems make use of the current electrical distribution network. The power line communication (PLC) systems market is anticipated to develop as a result of the rising demand for reasonably affordable energy infrastructure investments. Data transformation is also done using these over the existing power lines. This system makes it possible to transmit voice, data, and high-speed video signals over low-voltage power lines.

POWER LINE COMMUNICATION (PLC) SYSTEMS MARKET SEGMENTATION

• By Type Analysis

By type, the market is segmented into narrowband PLC and broadband PLC.

• By Application Analysis

Based on application, the market is classified into commercial, residential, smart grid, automotive, and others.

DRIVING FACTORS

"Establishment of Smart Grids to Impel Product Demand"

One of the main drivers expected to surge power line communication (PLC) systems market growth is a marked increase in the deployment of smart grids around the world. PLCs are used in smart grids to integrate renewable energy sources into the system that supplies the electricity. The market's expansion is also being aided by the rising use of these solutions for connecting to remote equipment. The usage of PLC technology to serve a larger geographic region has significantly increased with the expansion of the electrical distribution network. Along these lines, another growth-promoting element is the expanding use of these technologies for lighting control applications in both urban and rural settings. The usage of PLC systems is common for both indoor and outdoor lighting.

"Use of Advanced Technology for Various Automation Purposes to Drive Growth"

Power line communication (PLC) systems are commonly utilized for home automation, where household electrical wiring. It is employed as a communication medium for remote control of lighting, appliances, sensors, and alarm systems in a home. PLC is suitable for home networks (HAN) and near-me area networks because of its functionality (NAN). PLC systems also offer various data transmission rates and operate in several frequency bands. Applications for smart grid communication frequently use PLC technology. The use of this technology also includes radio broadcasting, home networking, and internet access. Additionally, this technology integrates with other technologies including broadband, direct current (DC), and alternate current (AC). Businesses frequently like AC-PLC systems. These factors are anticipated to foster power line communication (PLC) systems market growth in the foreseeable future.

RESTRAINING FACTORS

"Availability of Other Alternatives and Interference Issues to Impede Market Growth"

The interference of various networks may create a challenge for power line communication (PLC) systems market growth. This system offers a limited speed, varying impedance, noise, and high levels of frequency-dependent attenuation are additional factors that are anticipated to hamper growth in the market.

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POWER LINE COMMUNICATION (PLC) SYSTEMS MARKET REGIONAL INSIGHTS

"Europe to Dominate Market Owing to the Governments"

Europe is expected to lead the market by holding about 30% of the overall power line communication (PLC) systems market share backed by advanced material application in the region. Moreover, the government is taking various initiatives to increase the adoption of advanced communication systems.

North America is likely to show significant growth in the market owing to the rising demand for smart grid systems for delivering sustainable energy solutions.

KEY INDUSTRY PLAYERS

"Key Players Focusing On Innovative Technology Development to Grow in the Market"

Businesses are working on developing new technology to offer more easy ways to increase product portfolio. Companies also use innovative practices and techniques to create new technologies. Companies are focused on acquisitions and investments to increase sales. The marketplace is competitive as a result of the existence of numerous huge firms. An extensive worldwide consumer base and the execution of operations through specialized distribution networks are other characteristics. The key companies strive to gain a higher market share by launching new products.

List Of Top Power Line Communication (PLC) Systems Companies

• ABB (Switzerland)
• General Electric (U.S.)
• Siemens (Germany)
• Maxim Integrated
• Devolo (Germany)
• Cypress Semiconductor (U.S.)
• Microchip (U.S.)
• STMicroelectronics (Switzerland)
• Panasonic (Japan)
• AMETEK (U.S.)
• NETGEAR (U.S.)
• Qualcomm Atheros (U.S.)
• TP-Link Technologies (China)
• Texas Instruments (U.S.)
• Zyxel Communications (Taiwan)
• NXP Semiconductor NV (Netherlands)
• Renesas Electronics Corporation (Japan)

REPORT COVERAGE

An overview of the product is provided along with the product description. Numerous industry elements are included in the research.

• The pandemic's aftereffects and the subsequent lockdown.
• The market's most recent trend is currently fueling expansion.
• The factors are most likely to stimulate market growth.
• The reasons the market is expected to grow more slowly.
• A comprehensive regional analysis of the market is conducted.
• Significant players and their business offices are also covered in the article.