October 12, 2021
As cited by the research report titled ‘Power Line Communication (PLC) Market Size, By Offering (Hardware, Software [Data Acquisition and Management, Energy Management], Service [Professional Service, Maintenance & Repair]), By Frequency, By Application (Smart Grid, Networking, Long-haul), By Industry Vertical (Residential, Commercial, Industrial [Automotive & Transportation, Energy & Power]), COVID-19 Impact Analysis, Regional Outlook, Growth Potential, Competitive Market Share & Forecast, 2021 – 2027’, available with Market Study Report LLC, global power line communication (PLC) market is projected to expand significantly over 2021-2027.
Rising product demand in various end-use applications, along with growing focus of manufacturers on product development with technology integration are the major factors driving power line communication (PLC) market growth.
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Notbaly, PLC makes use of the main power ring to allow data signals in places where setting up a wireless solution is challenging, thus making PLC-based communications suitable for off-grid back-up of green energy and EV charging points, bolstering the market demand.
Furthermore, industry players are developing new products and expanding their offerings with products that provide higher functionality to extend their consumer reach, thus positively swaying the industry dynamics.
For the record, power line communication (PLC) is a communication technology which enables transmission of data over existing power cables. Power line transformers are commonly used in home networking and are mainly leveraged to extend the range of LAN connections from the modem or from central router in home offices without any need to add any new wiring in the building.
Speaking of application scope, energy & power industrial segment held 50% of the overall market share in 2020 and is likely to showcase remunerative growth over 2021-2027, owing to rising demand for smart grids across the power sector.
The geographical analysis of global power line communication (PLC) market extends to North America, Middle East & Africa, Asia Pacific, Europe, and Latin America. The report cites that Latin America market is anticipated to expand with 15% CAGR and accrue significant returns over 2021-2027, owing to increasing investments towards smart energy infrastructure across the region.
Leading players like Zyxel Communications Corp., TP-Link Corporation Limited, Texas Instruments Incorporated, STMicroelectronics N.V., Siemens AG, Schneider Electric SE, Renesas Electronics Corporation, Panasonic Corporation, NXP Semiconductors N.V., Netgear Inc., Maxim Integrated Products Inc., Landis+Gyr AG, Hubbell Incorporated, Hitachi Ltd., General Electric Company, Echelon Corporation, D-Link Corporation, Devolo AG, AMETEK Inc., and Belkin International Inc are profiled in worldwide power line communication (PLC) industry.