Growing Deployment of Smart Grids Driving the Growth of Power Line Communication Market

The power line communication market is valued at USD 5.5 billion in 2017 and is expected to reach USD 9.5 billion by 2023, at a CAGR of 9.5% during the forecast period. The need for cost effective installations, growing deployment of smart grids, and high penetration of broadband power line communication devices in the indoor networking application is likely to propel the growth of the market.

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Energy management and smart grid application to hold the larger share of the power line communication market by 2023

Communication technologies play an important role in smart grids, as these technologies are required for obtaining data for the efficient control and distribution of energy. Substation communication and advanced metering were the main application areas that held a significant share of the power line communication market in 2016. Micro inverter monitoring, vehicle communication and electric vehicle charging, and lighting control are the other emerging applications that are likely to spur the growth of the market during the forecast period.

Drivers
• Cost-Effective Installation
• Enabling Wide Coverage By Using the Existing Electricity Distribution Network
• Growing Deployment of Smart Grids
• High Penetration of Broadband Power Line Communication Devices in Indoor Networking Applications

APAC to be the fastest growing market for power line communication during the forecast period

Some of the key countries in the power line communication market in APAC include China, Japan, India, and South Korea. High economic growth witnessed by major developing economies in the region can be attributed to the rapid growth of the power line communication market in the region. Government efforts to expand the grid and build new power plants, wind farms, and solar farms in China and India are also likely to drive the demand during the forecast period. Heavy investments towards smart city infrastructure in China where this technology is used for smart grids and smart buildings for communication will be a likely factor to contribute to the growth of the market 

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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