The global power line communication systems market size is expected to reach US$ 11.5 Billion in 2022 and US$ 17.3 Billion in 2032. It is anticipated to exhibit remarkable growth at a CAGR of 8.4% in the forecast period from 2022 to 2032. The rising penetration of broadband devices and the surging deployment of smart grids are likely to propel the demand for power line communication systems in the upcoming years.
Report Attribute
Details
Power Line Communication Systems Market Estimated Base Year Value (2021)
US$ 10.2 Billion
Power Line Communication Systems Market Expected Market Value (2022)
US$ 11.5 Billion
Power Line Communication Systems Market Anticipated Forecast Value (2032)
US$ 17.3 Billion
Power Line Communication Systems Market Projected Growth Rate (2022-2032)
8.4% CAGR
Power line communication systems are considered to be a significant economical solution that provide the required bandwidth to replace or support alternative communication technologies, including fiber-optic and wireless. The power line can be efficiently used as the sole communication path between the control center and High Voltage (HV) substations of an electric utility.
The surging demand for home automation solutions to control multiple in-house parameters is set to augment the sales of power line communication systems. These systems are projected to be extensively used to transform data over existing power cables.
Governments of various countries are investing huge sums in the development of smart grid infrastructures. Power line hardware systems help in providing better reliability and stability of data communication. It is also capable of reducing the cost of controlling numerous appliances remotely.
Which are Some Prominent Drivers Spearheading Power Line Communication Systems Market Growth?
The ability of power line communication systems to provide wide coverage and cost-effective solutions is anticipated to drive the market. Most of the devices receiving power through these lines can be easily monitored and controlled. These systems utilize the existing electricity distribution network for communication purposes.
The surging demand for relatively low cost energy infrastructure installations is expected to boost the power line communication systems market growth in the near future. These are also used to transform data over the pre-existing power cables. This system enables the transmission of high-speed video signals, voice, and data over low voltage power lines.
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What are the Challenges Faced by the Power Line Communication Systems Industry?
Most of the providers of power line communication systems are facing tough competition from those offering wireless or wired communication technologies. The high demand for fiber-optic networks that can be utilized for smart grid communication and would not require power lines is a major factor that may hamper the sales of power line communication systems in the evaluation period.
Besides, the selection of communication technology is highly dependent upon numerous factors, such as resources, application, and infrastructure. Length and quality of power cables, availability of fiber-optic cables, and frequency spectrum for wireless technologies are some of the other factors that need to be considered for selecting data communication technology. Consumers’ requirements also play an important role in the selection of communication technology, which may obstruct the market.
Why is Europe Emerging as an Opportunistic Power Line Communication Systems Market?
Europe is likely to remain at the forefront in terms of the power line communication systems market share in the forthcoming years. This growth is attributable to the rising adoption of various power line communication technology-based products in Italy for network expansion, substation communication, and advanced metering applications.
The presence of several renowned companies, such as Iskraemeco, ABB, Schneider Electric, Landis+Gyr, Siemens, Iskra, and devolo in various parts of Europe is another vital factor that is projected to bolster the market. The higher deployment of smart grids in Germany owing to the rising government investments in such projects is also estimated to push the regional market.
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How is Asia Pacific Contributing to Growth of the Power Line Communication Systems Market?
The increasing adoption of home automation solutions and smart homes in China, Singapore, and Japan is set to fuel the Asia Pacific power line communication systems market growth in the near future. Numerous advantages of these systems, including high-speed data transmission, distribution of multimedia, and ubiquity of electrical outlets are anticipated to bode well for the regional market.
The surging need to improve the performance of electricity supply by delivering real-time monitoring of generation, distribution, and transmission of the network is another crucial factor that is expected to propel the market in Asia Pacific. In addition to that, the rising popularity of smart energy solutions is likely to generate more sales.
Market Competition
Some of the leading companies operating in the global power line communication systems market include Hubbell Power Systems Inc., Siemens AG, Belkin International, Inc., Netgear Inc., Zyxel Communications Corp., AMETEK, Inc., General Electric, ABB, D-Link Corporation, Schneider Electric SE, devolo AG, TP-Link Technologies, and Landis+Gyr among others.
Majority of the leading companies in the global market are increasingly focusing on the development of state-of-the-art power line communication systems to gain a competitive edge. Some of the other key players are striving to broaden their product portfolios and geographic presence by setting up new manufacturing facilities in untapped areas.
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Scope of Report
Report Attribute
Details
Growth Rate
CAGR of 8.4% from 2022 to 2032
Base Year for Estimation
2021
Historical Data
2015-2020
Forecast Period
2022-2032
Quantitative Units
Revenue in USD Billion, Volume in Kilotons and CAGR from 2022-2032
Report Coverage
Revenue Forecast, Volume Forecast, Company Ranking, Competitive Landscape, Growth Factors, Trends and Pricing Analysis
Segments Covered
Component
Frequency
Application
End Use
Region
Regions Covered
North America
Latin America
Western Europe
Eastern Europe
APEJ
Japan
Middle East and Africa
Key Countries Profiled
U.S
Canada
Brazil
Argentina
Germany
U.K
France
Spain
Italy
Nordics
BENELUX
Australia & New Zealand
China
India
ASEAN
GCC
South Africa
Key Companies Profiled
Hubbell Power Systems Inc.
Siemens AG
Belkin International, Inc.
Netgear Inc.
Zyxel Communications Corp.
AMETEK, Inc.
General Electric
ABB
D-Link Corporation
Schneider Electric SE
devolo AG
TP-Link Technologies
Landis+Gyr
Customization
Available Upon Request
Key Segments Profiled in the Power Line Communication Systems Industry Survey
By Component:
Hardware
Software
Services
By Frequency:
Narrowband (3kHz to 500 kHz)
Broadband (Greater than 500 kHz)
By Application:
Energy Management and Smart Grids
Indoor Networking
By End Use:
Residential
Commercial
Industrial
By Region:
North America
Latin America
Western Europe
Eastern Europe
APEJ
Japan
Middle East and Africa
Frequently Asked Questions
What is the sales forecast for power line communication systems in the global market until 2032?
The global power line communication systems market is expected to surpass US$ 17.3 Billion in 2032.
Which region is set to lead the power line communication systems market?
Europe is set to lead the power line communication systems market in the forecast period.
Which are some of the renowned companies in the power line communication systems market?
Hubbell Power Systems Inc., Siemens AG, Belkin International, Inc., Netgear Inc., Zyxel Communications Corp., AMETEK, Inc., and General Electric are some of the renowned companies in the power line communication systems market.
