Power Line Communication Market expected to be worth $11.1 billion by 2025

According to the new market research report "Power Line Communication Market by Offering (Hardware, Software, and Services), Frequency (Narrowband, and Broadband), Application (Energy Management and Smart Grid, and Indoor Networking), Vertical, and Geography – Global Forecast to 2023", the power line communication market is expected to grow from USD 5.5 billion in 2017 to USD 11.1 billion by 2025, at a CAGR of 9.3% between 2017 and 2023.  High demand for power line communication technology-based products from the industrial and residential verticals primarily for substation communication, advanced metering, and indoor networking applications are most likely to be the key factors attributed to the growth of the market.

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).

Software to witness the highest growth in power line communication market during the forecast period

Software solutions are mostly integrated with the hardware systems; the software systems can also be purchased separately and then connected to the hardware.  Software systems need to be regularly updated to ensure optimum functionality. Moreover, end users need to bear the expenses of software and related license updates. These factors are likely to contribute to a high CAGR of the software segment in the power line communication market in the near future.

Narrowband frequency is likely to dominate the power line communication market during the forecast period

The ability of the narrowband power line communication technology to send data through power lines over a long distance is one of the major factors that have led to its high adoption in the energy management and smart grid application. High demand for narrowband power line communication technology-based products from the energy management and smart grid application, especially from the advanced metering application will attribute to the dominant position in the market during the forecast period.

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.

Industrial vertical to hold the largest share of the power line communication market during the forecast period

Automation and control of power grids, advanced metering, electric vehicle charging, monitoring and control of solar panels, lighting control, and indoor networking are the major applications of the power line communication technology in the industrial vertical. Energy & power, and automotive & transportation are some of the key industries that are likely to boost the demand for power line communication during the forecast period.

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