Power Line Communication Market projected to be worth 9.45 Billion USD by 2023

The power line communication market is valued at USD 5.47 Billion in 2017 and is expected to reach USD 9.45 Billion by 2023, at a CAGR of 9.53% during the forecast period. The growing deployment of smart grids coupled with the fact that power line communication is one of the major communication technologies that is being used for smart grid communications is one of the major factors driving the growth of the market. Moreover, the increasing demand for broadband power line communication devices in the indoor networking application has led to the growth of the market.

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The report segments the power line communication market on the basis of offering, frequency, application, vertical, and geography. The said market is expected to be led by the narrowband power line communication segment during the forecast period. Substation communication and advanced metering are the main application areas of narrowband power line communication technology-based products. Substation communication and advanced metering applications hold a significant share of the overall power line communication market. This factor has led to the dominant position of the narrowband segment in the market.

The industrial vertical accounted for the largest share of the overall power line communication market. The high adoption of power line communication technology-based products, especially for the substation communication application has led to the dominance of this vertical in the said market.

The market for the energy management and smart grid application is expected to witness a significant growth during the forecast period. Substation communication and advanced metering were the main application areas that held a significant share of the power line communication market for the energy management and smart grid application in 2016. Micro inverter monitoring, vehicle communication and electric vehicle charging, and lighting control are the other emerging applications.

Europe held largest share of the market in 2016

Europe held the largest share of the power line communication market in 2016. Italy accounted for the largest share of the power line communication market in Europe, followed by France, the UK, and Germany. In 2016, the advanced metering application accounted for a significant portion of the power line communication market in Europe. This can be attributed to the initiatives taken by the government and utilities for the deployment of smart meters. Italy was the pioneer in Europe in terms of large-scale smart meters deployment. Moreover, the UK government has set a target of deploying nearly 53 million smart meters across 30 million homes and small businesses by 2020.

Some of the players operating in the power line communication market include Siemens (Germany), NETGEAR (US), ABB (Switzerland), AMETEK (US), Schneider Electric (France),  General Electric (US), Hubbell Power Systems (US), TP-Link Technologies (China), D-Link (Taiwan), Landis+Gyr (Switzerland), Belkin International (US), Corinex Communications (Canada), devolo (Germany), and Zyxel Communications (Taiwan).

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