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Power line communication market forecast to 2024 illuminated by new report|by key vendors Siemens, NETGEAR, ABB, AMETEK, Schneider Electric, General Electric, Hubbell Power Systems
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Europe is a lucrative region for the power line communication market. The increasing adoption of the smart grid solutions and the increasing investments in the deployment of smart meters across the region will augment the market growth. Furthermore, supportive government initiatives for accelerating the adoption of the smart meters also drive the market. For instance, the European Union is aiming at replacing more than 80% of the energy meters with the smart meters by 2020.
The PLC technology enables the transmission of the data over the power line, leveraging on the existing wiring infrastructure. Its cost-effectiveness, reliability, and high performance in multiple domains across different verticals are the primary factors driving its adoption in the power line communication market.
The growing adoption of the smart home and home automation solution across the countries is also propelling the market growth. The incorporation of artificial intelligence in the home automation solutions is the primary factor driving its adoption in the power line communication market. The development of the advanced, smaller, and low-cost sensors & actuators that gather information in real-time also promotes the development of home automation solutions.
The PLC market is characterized into narrowband and broadband PLC based on data transfer rates over the powerline. Narrowband PLC is estimated to grow significantly during the forecast period due to the technological advancements and the rapid proliferation of IoT devices across the industry sector. Moreover, the advancements in the technology have paved the way for the use of PLC in the narrowband space.
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North America holds a majority share in the power line communication market. This market growth is credited to the high adoption of the smart home and home automation solutions in the region. The installed base of the smart home and home automation solutions was estimated to be more than 10 million in the year 2015 and the number is estimated to double by the year 2020. Furthermore, the increasing penetration of smart grid solutions in the region also drives the demand for PLC solutions.
Company profiled in this report based on Business overview, Financial data, Product landscape, Strategic outlook & SWOT analysis:
1. Siemens
2. NETGEAR
3. ABB
4. AMETEK
5. Schneider Electric
6. General Electric
7. Hubbell Power Systems
8. TP-Link Technologies
9. D-Link
10. Devolo
11. Extollo Communications
12. Asustek Computer
Browse Full Report: https://www.gminsights.com/industry-analysis/power-line-communication-plc-market
The key players operating in the power line communication market are Siemens, NETGEAR, ABB, AMETEK, Schneider Electric, General Electric, Hubbell Power Systems, TP-Link Technologies, D-Link, Devolo, Zyxel Communications, Belkin International, NYX Hemera Technologies, Extollo Communications, and Asustek Computer.
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Global Market Insights, Inc., headquartered in Delaware, U.S., is a global market research and consulting service provider; offering syndicated and custom research reports along with growth consulting services. Our business intelligence and industry research reports offer clients with penetrative insights and actionable market data specially designed and presented to aid strategic decision making. These exhaustive reports are designed via a proprietary research methodology and are available for key industries such as chemicals, advanced materials, technology, renewable energy and biotechnology.
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