Selbyville, Delaware, July 06, 2021 (GLOBE NEWSWIRE) --
Global Market Insights Inc. has recently added a new report on the power line communication market which estimates the market valuation for PLC will cross US$ 20 billion by 2027. Increasing government investments across the globe for the development and deployment of smart grid power infrastructure to reduce carbon dioxide emissions will drive the industry growth.
The growing adoption of smart home and home automation solutions across the globe is propelling the PLC market growth. The development of advanced, smaller, and low-cost sensors & actuators that gather information in real-time also promotes the development of home automation solutions. Companies operating in the market are focusing on the comprehensive hybrid network, which addresses the operating challenges of advance IoT devices and builds sustainable communication networks for their customers.
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The maintenance & repair segment is projected to witness exponential growth over the forecast period. Growth is attributed to the increasing demand to safeguard PLC systems from failures due to network breakdowns. Multiple industries are implementing PLC systems for easy access to data and to improve networks. In addition, the growing demand for IoT devices that have access to the wireless network infrastructure is another factor fueling market expansion.
Narrowband held a larger market share of above 60% in 2020. Growth is attributed to the increasing need for connectivity in IoT applications. The increasing adoption of narrowband PLC is anticipated to support market growth due to the large number of suppliers, including Echelon, Maxim, ST Microelectronics, Texas Instruments, and Ariane Controls. In addition, the increasing use of smart grids will aid the narrowband PLC market growth.
Networking is anticipated to grow at a CAGR of above 15% from 2021 to 2027. Growth is attributed to its cost-effectiveness for home networking with minimal IT workload. PLC networks transmit faxes, phone calls, and internet services over regular electrical wiring.
The automotive & transportation segment is anticipated to grow at a CAGR of above 15% over the forecast timeline. Growth is attributed to the increasing penetration of emerging technologies including the Internet of Things (IoT), machine-to-machine networks, AI & cloud-based services and an increase in web-based applications across the automotive & transportation sectors.
Europe power line communication (plc) market is expected to generate a revenue of over USD 5 billion by 2027. The growth is attributed to increasing energy demand and aging electricity infrastructure. European governments are increasingly moving toward the modernization of energy grids by adopting smart grid solutions. The European Union is focusing on the decarbonization of its power sector by 2050 through the launch of multiple supporting policies. This is a major factor driving the market growth over the forecast period.
Companies operating in the market are focusing on the strategic acquisition of innovative PLC solution providers. For instance, in July 2020, Hitachi Ltd. acquired an 80.1% stake in ABB Power Grids, a business unit of ABB Ltd. This acquisition helped the company to enhance its power grid capabilities and enter the market.
Some major findings of the PLC market report include:
- Government initiatives for the rapid development of smart city projects are fueling the demand for PLC systems to provide uninterrupted connectivity to a large number of IoT devices.
- Europe is anticipated to hold a significant market share due to increasing digitalization and Industry 4.0 revolution across multiple industries and the presence of leading market players in the region.
- Companies operating in the market are focusing on the integration of new technologies and portfolio expansion to cater to diverse customer requirements.
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Partial chapters of report table of contents (TOC):
Chapter 2. Executive Summary
2.1. Power Line Communication (PLC) industry 360º synopsis, 2016 – 2027
2.2. Business trends
2.2.1. Total Addressable Market (TAM)
2.3. Regional trends
2.4. Offering trends
2.5. Frequency trends
2.6. Application trends
2.7. Industry vertical trends
Chapter 3. Power Line Communication (PLC) industry Insights
3.1. Introduction
3.2. Industry segmentation
3.3. Impact of COVID-19 outbreak
3.3.1. Global outlook
3.3.2. Regional outlook
3.3.2.1. North America
3.3.2.2. Europe
3.3.2.3. Asia Pacific
3.3.2.4. Latin America
3.3.2.5. Middle East & Africa
3.3.3. Industry value chain
3.3.3.1. Suppliers
3.3.3.2. PLC technology providers
3.3.3.3. Marketing and distribution channel
3.3.4. Competitive landscape
3.3.4.1. Strategy
3.3.4.2. Distribution network
3.3.4.3. Business growth
3.4. Evolution of PLC technology
3.5. Power Line Communication (PLC) industry ecosystem analysis
3.5.1. Backbone operators
3.5.2. Electric utilities
3.5.3. Utility equipment providers
3.5.4. System integrators
3.5.5. PLC vendors
3.5.6. Customer premise equipment
3.5.7. Internet service providers
3.5.8. End-users
3.5.9. Profit share analysis
3.5.9.1. The landlord models
3.5.9.2. The developer models
3.5.9.3. The service provider model
3.6. Investment portfolio
3.7. Patent analysis
3.8. Technology & innovation landscape
3.8.1. Smart metering infrastructure
3.8.2. Orthogonal frequency division multiplexing (OFDM)
3.9. Regulatory landscape
3.9.1. Global
3.9.1.1. International Telecommunication Unit (ITU) Recommendation ITU T L.1201
3.9.1.2. 3GPP
3.9.2. North America
3.9.2.1. Federal Communications Commis sion (FCC), U.S.
3.9.2.2. The National Institute of Standards and Technology (NIST), U.S.
3.9.3. Europe
3.9.3.1. European Telecommunications Standards Institute (ETSI) Radio Equipment Directive (2014/53/EU)
3.9.3.2. The General Data Protection Regulation (GDPR) (EU)
3.9.4. Asia Pacific
3.9.4.1. State Radio Regulation Committee (SRRC) Radio Type Approval (China)
3.9.4.2. Radiocommunications Act 1992 (Australia)
3.9.5. Latin America
3.9.5.1. Anatel Certification (Brazil)
3.9.6. MEA
3.9.6.1. Regulations on the use of 2.4 GHz and 5.8 GHz bands for WLAN and RLAN (UAE)
3.10. Industry impact forces
3.10.1. Growth drivers
3.10.1.1. Rising demand for PLC syst ems in advanced metering infrastructure
3.10.1.2. Increasing demand for cost effective installations
3.10.1.3. Upsurge in growth of smart buildings concept
3.10.1.4. Renewable energy integration and restructuring of electric infrastructure
3.10.1.5. Emergence of PLC as a low cost solution
3.10.2. Industry pitfalls & challenges
3.10.2.1. Interference and radio static
3.10.2.2. Availability of other alternatives
3.11. Growth potential analysis
3.12. Porter’s analysis
3.12.1. Bargaining power of suppliers
3.12.2. Bargaining power of buyers
3.12.3. Threat of new entratnt
3.12.4. Threat of substitute
3.13. PESTEL analysis
3.13.1. Political
3.13.2. Economiccal
3.13.3. Social
3.13.4. Technological
3.13.5. Legal
3.13.6. Environmental
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Global Market Insights Inc., headquartered in Delaware, U.S., is a global market research and consulting service provider; offering syndicated and custom research reports along with growth consulting services. Our business intelligence and industry research reports offer clients with penetrative insights and actionable market data specially designed and presented to aid strategic decision making. These exhaustive reports are designed via a proprietary research methodology and are available for key industries such as chemicals, advanced materials, technology, renewable energy and biotechnology.