Power Line Communication (PLC) Market: Insights into Market Size, Key Segments, and Technological Developments

The Business Research Company has recently revised its global market reports, now incorporating the most current data for 2024 along with projections extending up to 2033.

Power Line Communication (PLC) Global Market Report 2024 by The Business Research Company offers comprehensive market insights, empowering businesses with a competitive edge. It includes detailed estimates for numerous segments and sub-segments, providing valuable strategic guidance.

The Market Size Is Expected To Reach $18.22 Bn In 2028 At A CAGR Of 12.4% :

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 in the historic period can be attributed to early adoption in home networking, smart grid Initiatives, broadband over power line (BPL), increased bandwidth and 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 growth in the forecast period can be attributed to 5G and beyond integration, increasing edge computing and edge devices, advanced metering infrastructure (AMI), increased bandwidth and data rates, sustainability and environmental considerations. Major trends in the forecast period include expanded IoT applications, electric vehicle-to-grid (V2G) communication, distributed energy resources (DERs) integration, smart cities and infrastructure, artificial intelligence and machine learning integration, standardization and interoperability.

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Power Line Communication (PLC) Market Major Segments
The power line communication (PLC) market covered in this report is segmented -

1) By Offerings: Hardware, Software, Service
2) By Frequencies: Narrowband, Broadband
3) By Applications: Networking, Smart Grid, Long-Haul
4) By Industry Verticals: Commercial, Residential, Industrial

Key Driver - Industrial Automation Surge Fuels Power Line Communication Growth

Growing interest in industrial automation and control systems is expected to propel the growth of the power line communication market going forward. Industrial automation and control systems are technologies designed to automate and monitor manufacturing processes, machinery, and equipment in industrial settings, enhancing efficiency, productivity, and safety. Industrial automation and control systems are rising due to their ability to enhance operational efficiency, improve product quality, ensure safety, and adapt to dynamic market demands in various industries. Power line communication (PLC) in industrial automation and control systems facilitates reliable and cost-effective data transmission over existing power lines, enhancing communication efficiency and connectivity within industrial environments. For instance, in May 2022, according to a survey of 321 manufacturers conducted by Rockwell Automation Inc., a US-based provider of industrial automation and digital transformation technologies, the adoption of smart factory technologies witnessed a remarkable 50% year-over-year growth. Moreover, 74% of surveyed manufacturers are either currently utilizing or planning to integrate artificial intelligence into their manufacturing operations. Additionally, 83% of manufacturing professionals will upgrade their modernization processes into smart factories. Therefore, the growing interest in industrial automation and control systems is driving the growth of the power line communication market.

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Prominent Trend - Next-Generation Powerline Communication Devices Transforming Connectivity And Smart Grid Applications

Major companies operating in power line communication (PLC) are increasing their focus on developing advanced solutions, such as next-generation powerline communication devices, to gain a competitive edge in the market. A next-generation powerline communication device is an advanced system enabling data transmission over existing electrical wiring, enhancing connectivity and smart home applications. For instance, in May 2022, Qualcomm, a US-based technology company, launched the QCA7006AQ, a next-generation powerline communication device specifically designed to support smart-grid communications between electric vehicles and charging stations. It complies with the HomePlug Green PHY (HPGP) specification for vehicle-to-grid (V2G) systems, enabling seamless authentication on the network for plug-and-charge automated payments during EV charging. The QCA7006AQ facilitates the coordination of energy flow between the grid and the home, supporting smart-grid charging applications under the CCS (Combined Charging System) standard.

Power Line Communication (PLC) Market Players
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

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Largest And Fastest Growing Region In The Market
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 Table Of Content For The Market Report Include:
1. Executive Summary
2. Power Line Communication (PLC) Market Report Structure
3. Power Line Communication (PLC) Market Trends And Strategies
4. Power Line Communication (PLC) Market - Macro Economic Scenario
5. Power Line Communication (PLC) Market Size And Growth
…..
27. Power Line Communication (PLC) Market Competitor Landscape And Company Profiles
28. Key Mergers And Acquisitions
29. Future Outlook and Potential Analysis
30. Appendix

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