The Global Market for Power Line Communication (PLC) Systems is Projected to Exceed US$14 Billion by 2024
The Ubiquity of Power Lines
and Myriad Benefits of Power Line Communication (PLC) Technology Drive Strong
Market Growth, According to a New Report by Global Industry Analysts,
Inc.
GIA
launches comprehensive analysis of industry segments, trends, growth drivers,
market share, size, and demand forecasts on the global Power Line Communication
(PLC) Systems market. The global market for Power
Line Communication (PLC) Systems is projected to exceed US$14 billion by 2024, driven by the robust
demand from electric utilities amidst growing prominence of IoT in utilities,
and rising investments in smart grid deployments.
Powerline
Communications (PLC) technology represents the transmission of voice, video,
and data over the low voltage electrical distribution network and premises
electrical wires and cables. The PLC technology offers huge potential given the
ubiquity of electric power cables connecting utilities, homes, and other
buildings worldwide. The technology facilitates fast exchange of information
between power generation stations, transmission and distribution stations and
substations, particularly during critical situations. In addition, PLC enables
data transmission to homes and buildings through power lines, virtually
facilitating control and monitoring of all devices connected to power
lines. Other benefits of PLC systems
that are driving its widespread adoption across the world include meeting all
functional considerations such as bandwidth, reliability, security, and cost;
and offering intelligent monitoring and control for electricity network
operations by facilitating high-speed, long-range and extremely reliable
communication and control, among others.
Strong
growth is projected for the market in the coming years driven by robust demand
for PLC systems from various end-use applications including advanced metering
infrastructure (AMI), remote telemetry systems, broadband Internet access equipment,
vehicle automation, M2M communications, home automation, electric vehicle
charging, as well as in micro-inverter for alternative sources of energy,
lighting and temperature. Rising investments in the smart grid technology
represents another important growth driver where PLC systems provide
operational and economic benefits in terms of distribution automation, demand
response, street lighting control, and integration of distributed generation.
Other factors benefiting market prospects include the steady evolution of smart
cities and smart connected homes that require seamless PCL-based remote
management; proliferation of PLC technology in connected outdoor lighting; growing
demand for Broadband over Power Lines
(BPL) for
bridging the digital divide between urban and rural areas; emerging application
of PLC in delivering tele-healthcare, and
growing popularity of Internet of Things (IoT) technology which is
accelerating development of low voltage applications of PLC systems in the home
networking and automation sector as well as medium voltage applications in the
utilities sector.
As
stated by the new market research report on Power Line Communications
(PLC) Systems,
Europe represents the largest market with the highest penetration worldwide,
followed by the United States. Steadily growing smart grid deployments and
automation of energy infrastructure represent major growth drivers in the developed
markets. Asia-Pacific ranks as the fastest growing market with a value CAGR of 22.6%
over the analysis period, driven by large scale deployment of PLC-based smart
electricity meters and the rising popularity of power line carrier technology
based home networking products.
Key
players in the market include ABB Ltd., Aclara Technologies LLC, Amperion Inc.,
Atmel Corp., Billion Electric Co. Ltd., Cypress Semiconductor Corp., D-link
System Inc., Eaton Corp., Echelon Corp., Elster Group SE, GE Grid Solutions, Landis+Gyr
AG, Marvell Technology Group Ltd., Maxim Integrated Products Inc., Microchip
Technology Inc., NXP Semiconductor NV, Power Plus Communications AG, Qualcomm
Atheros Inc., Renesas Electronics Corporation, Siemens AG, Semitech
Semiconductor Pte Ltd., STMicroelectronics N.V, ST&T Electric Corporation,
Texas Instruments Inc., TP-LINK Technologies Co. Ltd., and Yitran
Communications Ltd., among others.
The
research report titled “Power Line Communications
(PLC) Systems: A Global Strategic Business Report” announced by Global
Industry Analysts Inc., provides a comprehensive review of market trends,
issues, drivers, mergers, acquisitions and other strategic industry activities
of global companies. The report provides market estimates and projections in
value (US$) and volume (units) for major geographic markets including the US,
Canada, Japan, Europe (France, Germany, Italy, UK, Spain, Russia, and Rest of
Europe), Asia-Pacific (China, and Rest of Asia-Pacific), Middle East &
Africa, and Latin America (Brazil, and Rest of Latin America). Key segments
analyzed in the report include Narrowband PLC, and Broadband PLC.
Global Industry
Analysts, Inc. 6150 Hellyer Ave., San Jose CA 95138, USA, All Rights Reserved.
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