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Power Line Communication (PLC) Market Trends

Report ID: GMI2987
Published Date: Oct 2023
Report Format: PDF

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Power Line Communication (PLC) Market Trends

The expanding adoption of smart grid technologies is a prominent trend in the power line communication industry. Smart grids leverage power line communication to enhance grid efficiency, monitor energy consumption in real time, and enable demand response mechanisms. This trend aligns with the global push for more sustainable and efficient energy distribution. Power line communication's ability to support bidirectional data exchange is crucial for the implementation of smart grids, making it a key enabler for modernizing the energy infrastructure and optimizing power distribution systems.

IoT connectivity is emerging as a significant trend in the power line communication industry. Power line communication provides an efficient and reliable solution to connect a wide range of IoT devices, from smart meters to home automation systems, over an existing electrical infrastructure. This trend is driven by the increasing deployment of IoT solutions in various sectors including energy management, industrial automation, and smart cities.

For instance, in February 2023, iWire Global partnered with UnaBiz to accelerate the adoption of IoT technologies in the MEA region via a closer alignment with the regional IoT regulatory frameworks & requirements. PLC's ability to facilitate seamless connectivity for IoT devices also positions it as a key enabler for IoT expansion in the market.

Authors: Preeti Wadhwani

Frequently Asked Questions (FAQ) :

The market size of power line communication (PLC) reached USD 9.8 billion in 2022 and is set to witness over 14.5% CAGR between 2023 and 2032, led by the surge in innovative hardware launches.

The hardware offering segment was valued at USD 4.8 billion in 2022, attributed to the increased demand for cutting-edge tools to support reliable power line communication networks.

The narrowband frequency segment crossed USD 6.3 billion in 2022, due to rising application in smart metering to render reliable long-range communication with low data rates.

North America garnered around 35% of the market share in 2022, owing to the rising investments in smart grid technologies to enhance reliability and reduce operational costs in the region.