Power Line Communication Market by Offering & Application expected to be worth 9.45 Billion USD by 2023

The power line communication market was valued at USD 4.97 Billion in 2016 and is estimated to reach USD 9.45 Billion by 2023, at a CAGR of 9.53% during the forecast period. The base year considered for this study is 2016, and the forecast period considered is between 2017 and 2023.

The objectives of the study are as follows:

• Define, describe, and forecast the overall power line communication market in terms of value
• Define, describe, and forecast the market segmented on the basis of offering, frequency, application, vertical, and geography
• Forecast the size of the market, in terms of value, for various segments with respect to 4 main regions—North America, Europe, Asia Pacific (APAC), and Rest of the World (RoW)
• Describe the major factors (drivers, restraints, opportunities, and challenges) influencing the growth of the market and its submarkets
• Analyze the micromarkets with respect to individual growth trends, prospects, and contributions to the overall market
• Analyze the opportunities in the market for stakeholders by identifying the high-growth segments of the market
• Identify the key players operating in the market and comprehensively analyze their market ranking and core competencies
• Analyze strategic developments such as product launches, partnerships, expansions, and contracts in the power line communication market

Narrowband segment held largest share of the market in 2016

Based on frequency, the narrowband segment leads the power line communication market. The dominant position of this segment can be attributed to the high demand for narrowband power line communication technology-based products from the energy management and smart grid application.

Energy management and smart grid application to dominate the market during forecast period

Based on application, the energy management and smart grid application is currently leading and is expected to dominate the market 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.

Market for commercial vertical likely to grow at highest CAGR during forecast period

Based on vertical, the commercial vertical is expected to witness the highest growth in the power line communication market during the forecast period. The increasing penetration of power line communication technology-based products for building automation, especially for the lighting control application, is one of the major factors fueling the growth of the said market.

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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