Power Line Communication (PLC) Market Size By Offering (Software [Energy Management, Data Acquisition and Management], Service [Maintenance & Repair, Professional Service], Hardware), By Frequency (Broadband, Narrowband), By Application (Networking, Smart

Power Line Communication (PLC) Market Size By Offering (Software [Energy Management, Data Acquisition and Management], Service [Maintenance & Repair, Professional Service], Hardware), By Frequency (Broadband, Narrowband), By Application (Networking, Smart Grid, Long-haul), By Industry Vertical (Commercial, Residential, Industrial [Automotive & Transportation, Energy & Power]), COVID-19 Impact Analysis, Regional Outlook, Growth Potential, Price Trends, Competitive Market Share & Forecast, 2022 - 2030

The power line communication (PLC) market is slated to witness substantial growth through 2030, driven by the surging adoption of smart home automation solutions worldwide. This is attributable to the development of low-cost, smaller, and advanced sensors and actuators that can gather information in real-time.

In the automotive industry, for example, smart-grid integration can allow vehicles to seamlessly authenticate on the network via plugs and conduct automated payments for electric vehicle charging. To support the expanding EV (electric vehicle) segment, various next-generation power line communication devices are being designed worldwide.

For example, in May 2022, Qualcomm Technologies, Inc. unveiled the QCA7006AQ, a next-gen powerline communication device. This product was designed to address the needs for charging station communications that adopt Combined Charging System, supporting smart-grid communications.

The power line communication (PLC) industry is segregated in terms of frequency, offering, application, industry vertical, and regional landscape.

The industry is divided into hardware, service, and software in terms of offering. The service segment is further categorized into maintenance and repair and professional service. The maintenance and repair service segment is anticipated to depict around 20% CAGR through 2030. This is attributable to the escalating need for safeguarding power line communication circuits and other systems from failures, mainly due to network breakdowns.

Based on frequency, the industry is categorized into broadband and narrowband frequencies. The broadband segment held over 35% of the power line communication (PLC) market share in 2021, given the rapid expansion of service availability to increase broadband access. To cite an instance, in 2019, Virginia authorized investor-owned utilities to leverage their additional capacity for broadband services across unserved areas.

Also, through the upgradation and employment of existing electric infrastructure, broadband and electricity providers can save money and expand services to rural communities.

With regards to application, the PLC market is bifurcated into long-haul, networking and smart grid. The smart grid segment registered revenue worth more than USD 4 billion in 2021.

Communication is emerging as one of the enabling technologies of smart grids, owing to the increasing number of sensors and data generated from utilities. To enable efficient monitoring of data to make decisions, power line communications are being embedded in transmission substations and other parts of smart grids.

Based on the industry vertical, the market is segmented into industrial, commercial, and residential. The industrial segment is further categorized into energy and power, automotive and transportation, and others. Among these, the automotive and transportation segment will exhibit a CAGR of over 15% through 2030.

The segmental expansion can be credited to the rising penetration of machine-to-machine networks, the Internet of Things, and other emerging technologies. The increasing scope of web-based applications across the automotive and transportation industries is also anticipated to foster industry trends over the forecast period.

Regionally, the Asia Pacific power line communication (PLC) market is set to depict a CAGR of over 20% through 2030, owing to rapid industrialization in China, India, Singapore, and other prominent countries. Governments are introducing supportive policies and initiatives to drive the adoption of industrial automation solutions, enabling the APAC region to emerge as a lucrative revenue pocket for power line communication (PLC) technology providers.