Dublin, Oct. 02, 2023 (GLOBE NEWSWIRE) -- The "Power Line Communication Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2023-2028" report has been added to ResearchAndMarkets.com's offering.
The global Power Line Communication (PLC) market has reached a significant milestone, achieving a valuation of US$ 9.2 Billion in 2022.
As we look forward, industry experts anticipate substantial growth, with the market expected to soar to US$ 16.8 Billion by 2028. This impressive expansion is driven by a compound annual growth rate (CAGR) of 10.4% during the forecast period from 2023 to 2028.
Power Line Communication: A Backbone for Data Transmission
Power Line Communication (PLC) technology serves as a robust communication medium for transmitting data over existing power-grid infrastructures. It plays a pivotal role in facilitating communication and data transmission for various Internet of Things (IoT) and smart grid applications.
PLC is instrumental in powering electronic devices and enabling data retrieval and control through them. The market is divided into two key types: narrowband and broadband. Narrowband PLC operates at lower frequencies and data rates but boasts an extended range. In contrast, broadband PLC operates at higher frequencies and data rates, primarily serving shorter-range applications.
Driving Forces Behind Market Growth
Several factors are propelling the growth of the PLC market:
- Smart Grid Expansion: The widespread adoption of smart grids worldwide is a key driver. Smart grids integrate renewable energy resources into the electricity supply chain using PLC technology.
- Remote Device Communication: PLC solutions are increasingly used to communicate with devices in remote locations, enhancing their market prospects.
- Lighting Control Applications: PLC technology is widely employed for lighting control in both urban and rural settings, including streets, roadways, tunnels, parking facilities, parks, and commercial and industrial complexes.
- Renewable Energy Investments: Increasing investments in renewable energy facilities and government initiatives to deploy smart grids are bolstering market growth.
- Research and Development: Extensive research and development efforts in the power sector are driving innovation in PLC technology.
- Urbanization: The global trend of hyper-urbanization is fueling demand for PLC solutions.
Key Market Segments
The comprehensive report offers a detailed analysis of the PLC market, categorizing it based on various parameters:
- Frequency: Narrowband (3 kHz to 500 kHz), Broadband (Greater Than 500 kHz)
- Voltage: Low, Medium, High
- Offering: Hardware, Software, Services
- Modulation Technique: Single Carrier Modulation, Multi-Carrier Modulation, Spread Spectrum Modulation, Others
- Application: Energy Management and Smart Grid, Indoor Networking
- Vertical: Residential, Commercial, Industrial
- Region: North America, Asia Pacific, Europe, Latin America, Middle East and Africa
Key Questions Answered in This Report
This report addresses crucial questions in the PLC market:
- Market Size: What was the size of the global Power Line Communication (PLC) market in 2022?
- Growth Outlook: What is the expected growth rate of the global Power Line Communication (PLC) market during 2023-2028?
- COVID-19 Impact: What has been the impact of COVID-19 on the global Power Line Communication (PLC) market?
- Key Drivers: What are the key factors driving the global Power Line Communication (PLC) market?
- Market Segmentation: What is the breakup of the global Power Line Communication (PLC) market based on frequency, application, and vertical?
- Key Regions: What are the key regions in the global Power Line Communication (PLC) market?
- Key Players: Who are the key players/companies in the global Power Line Communication (PLC) market?
Competitive Landscape
Key players in the PLC market include ABB, AMETEK Inc., Belkin, Broadcom Inc., Cypress Semiconductor, D-Link Corporation, General Electric, Hubbell Power Systems Inc., Landis+Gyr, Maxim Integrated, Netgear, Schneider Electric, Siemens, TP-Link Technologies, Zyxel Communications, and more.
Key Attributes:
| Report Attribute | Details |
| No. of Pages | 144 |
| Forecast Period | 2022 - 2028 |
| Estimated Market Value (USD) in 2022 | $9.2 Billion |
| Forecasted Market Value (USD) by 2028 | $16.8 Billion |
| Compound Annual Growth Rate | 10.6% |
| Regions Covered | Global |
For more information about this report visit https://www.researchandmarkets.com/r/gar6ez
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