Power Line Communication Market is expected to grow from USD XX Billion in 2018 to USD 10.12 Billion by 2026, at a CAGR of XX % between 2019 and 2026. (Detailed analysis of the market CAGR is provided in the report).
Power Line Communication Market
Powerline communication technology uses electrical wiring to simultaneously carry both data and electric power. It enables data exchange over existing power cables. Powerline communication is used in both residential as well as commercial applications to enable power management and reduce power leakage. It makes use of power grids for communication between two nodes. Powerline communication has several numbers of advantages such as high efficiency, low system complexity, and reduced system maintenance. PLC allows users to transmit, receive, and control data in a half-duplex manner.
Rising demand for higher efficiency, faster data transfer rate, increasing demand for broadband power line communication devices are the key factors driving the power line communication market growth. Additionally, the growing demand for smart grids coupled with a wide use of power line communications is also one of the major factors driving the market growth.
Further key findings from the report:
• From the frequency segment, narrowband segment held the largest share of power line communication market in 2016 owing to increased demand for narrowband power line communications technology-based products from smart grid and energy management application
• Among the vertical segment market for commercial vertical is expected to witness high growth during the forecast period. The growth can be attributed to increasing penetration of power line communication technology-based products for building automation, especially for lighting control application
• In 2016, Europe held the largest share of power line communication market and is expected to grow at significant high CAGR during the forecast period. Advanced metering application accounted for the large share in the growth of PLC market owing to initiatives taken by the government in this region
• Energy management and smart grid application accounted for the largest share of power line communication market. Advanced metering and substation communication held a significant share of these two applications
• Analyzes competitive developments such as contracts, joint ventures, mergers & acquisitions, collaborations, product launches & developments, and research and development (R&D) in the Power Line Communication Market
• The objective of the report is to provide a detailed analysis of the Power Line Communication Market on the basis of offering, frequency, application, vertical, modulation technique, and geography
• Complete quantitative analysis of the industry from 2017 to 2026 to enable the stakeholders to capitalize on the prevailing market opportunities
• In-depth analysis of the industry on the basis of market segments, market dynamics, market size, competition & companies involved value chain
• Analysis of the Power Line Communication Market with respect to individual growth trends, prospects, and contribution to the total market
• Segment wise business performance detailed in the report will be worthwhile for the organizations willing to enhance its business
• Provides detailed information regarding the major factors influencing the growth of the Power Line Communication Market (drivers, restraints, opportunities, and challenges)
• This report would help stakeholders understand their competitors better and gain more insights to enhance their position in the business