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An Analysis of Power Line Communications Hardware, Software and Services from 2023 to 2033
The global market for power line communications is expected to reach US$ 8.6 billion by 2023, growing at a CAGR of 8.5% in the coming years. According to market forecasts, the industry will reach US$ 19.4 billion by 2033.
The smart grid has recently gained widespread attention due to narrowband power line communication. There are numerous applications for power line communication, which are used both in residential and commercial settings for the purpose of managing electricity and reducing power leakage.
At the global level, utility companies are adopting smart grid technologies as a way of ensuring the reliability of their grids and reducing their energy consumption. The installation of smart meters is also taking place in residential areas.
By automating billing, preventing late payments, and reducing AT&C losses, smart meters can improve the operational and financial performance of utilities. For instance, smart meters play an integral role in India's power distribution system. Metering infrastructure has been revamped over the past decade, with smart meters playing an integral role in this progress.
In addition to implementing smart meters for 250 million customers by 2025, the Ministry of Power has launched a new distribution sector program aimed at improving the distribution industry's troubles. Over 5.4 million smart meters have been installed in the country, according to the National Smart Grid Mission dashboard accessed on February 12, 2023.
| Report Attributes | Details |
|---|---|
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Power Line Communication Market Size (2023) |
US$ 8.6 billion |
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Power Line Communication Projected Market Value (2033) |
US$ 19.4 billion |
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Power Line Communication Market CAGR (2023 to 2033) |
8.5% |
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United States Market Size (2023 to 2033) |
US$ 2.5 billion |
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China Market Size (2023 to 2033) |
US$ 5.1 billion |
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According to Persistence Market Research (PMR), power line communication is expected to grow at a CAGR of 9.4% between 2018 and 2022. Analysts predict that between 2023 and 2033, the size of the market will increase at a CAGR of 8.5%.
A new generation of high-speed indoor communications has been enabled by integrating PLC & VLC technologies together, which recently received much research attention. In the coming years, the market is expected to grow due to their low-cost solutions compared to wireless communications or visible light transmission systems.
Due to PLCs flexibility in applications, it can be applied to a wide range of fields such as lighting, industrial, machine-to-machine, telemetry, and transport. For the smart grid and home networking, several standards have been developed to ensure reliable communication and interoperability.
The use of smart meters in Europe was expected to reach 80% by 2020, followed by the rest of the world. Hybrid communication systems can accommodate higher data rates than narrowband PLCs, wireless networks, or optical fibers, and meet the demands of modern applications that are always evolving. In addition to extending coverage, enhancing capacity, and improving reliability, hybrid systems can provide more extensive coverage.
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Growing government investment in developing and deploying smart grid power infrastructure will drive the growth of this industry. In order to maximize grid intelligence, PLC systems analyze data from communications in order to decrease operating costs while maximizing grid intelligence. Since PLCs communicate over existing power lines, they provide information on meter location and phase for low-voltage networks.
The use of power lines for communications can provide additional smart metering benefits and advantages that come with using PLC-based solutions. PLC-based solutions are considered cost-effective, reliable, and proven solutions for smart metering. Therefore, all of these factors are likely to expand the market.
Signals from PLCs are affected by interference and noise, and error correction algorithms play a vital role in minimizing these effects. The reliability and performance of narrowband PLC systems can be improved by developing more efficient and powerful error correction techniques. These factors are likely to grow demand for PLC in the coming years.
A growing number of smart homes and residential automation systems are being adopted around the world, propelling the growth of the PLC market. Due to the growing availability of sensors and actuators, the development of real-time home automation solutions has become easier.
How will Growth Unfold in the North American Power Line Communication Market?
Increasing Demand for PLC Services will Drive Power Line Communication in the Market
The power line communication market in North America is expected to dominate the market. The market is predicted to reach US$ 4.3 billion by 2033. Sustainable energy solutions are becoming increasingly dependent on smart grid systems. With the presence of global market players in these regions, the demand for PLC is expected to grow.
A new generation of PLC services is being offered by companies such as General Electric Company, and this is expected to grow demand and lead to the development of the industry. As per PMR, the United States will account for 58% of the global market by 2023. The United States is expected to grow by US$ 2.5 billion by 2033, at a CAGR of 7.3%.
PLC systems are expected to remain the market leader in the United States and Canada in the years to come. Various power line communications technology-based products have become more widely adopted in the United States as a means of expanding networks, communicating with substations, and integrating advanced metering systems.
What are the Developments in Power Line Communications in the Asia Pacific?
With Smart Meters on the Rise, the Demand for Power Line Communication is expected to Grow
Asia Pacific is expected to be the most popular region for power line communication. Smart metering systems in this region have contributed to the region's leading position in the market. The global market for power line communication is expected to reach US$ 9.7 billion by 2033.
The increasing demand for research and development as well as the growth of securing data are expected to lead to a significant increase in demand for PLCs in the market. For example, researchers at the Indian Institute of Technology Jodhpur (IITJ) have developed methods of securing data transmission over Power Line Communication (PLC) systems by using physical layer security mechanisms. As part of the IoT, this study is expected to have a significant impact on smart buildings, connected cars, and metering systems for smart grids.
According to the forecast, China will reach US$ 5.1 billion in 2033. By 2033, PMR predicts approximately 52% of the market will be captured by the market. China's power line communication market is expected to grow at a CAGR of 9.9% from 2023 to 2033.
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How Narrowband Frequency is Likely to Grow Demand for the Global Market for Power Line Communication?
Integrating Internet platforms will Drive Demand for Power Line Communication Market
By frequency, the market is segmented into narrowband - 3 kHz to 500 kHz and broadband - more than 500 kHz. PLC sales are expected to continue to grow in the future, which will contribute to a growth in the market. According to forecasts, the industry will grow at a CAGR of 8.4% between 2023 and 2033.
There are various modulation techniques employed in narrowband PLC systems, including amplitude-shift keying (ASK), frequency-shift keying (FSK), and phase-shift keying (PSK). A research and development program is currently in progress to improve the robustness of these modulation schemes against channel impairments and noise interference.
Smart grid implementations rely heavily on narrowband PLCs. Narrowband PLCs can grow in popularity as smart grid deployments increase, supporting advanced metering infrastructure (AMI), improved grid monitoring, and automated distribution systems.
Narrowband PLC uses a shared frequency spectrum between 3 kHz and 500 kHz. In order to maximize spectrum utilization and minimize interference with other services operating in the same frequency band, regulatory bodies, and standardization organizations are continuously working on it.
Which Verticals will Drive Power Line Communication Demand?
The Industrialization Process Will Continue to expand Demand During the Forecast Period
According to PMR, industrial sales will grow at a CAGR of 9% from 2018 to 2022. Research estimates that this segment will grow at an 8.3% CAGR over the next few decades.
The PLC is ideal for industrial environments where communication must occur across large areas and is easily scalable to meet the demands. Industrial facilities already have power lines, so adding communication nodes becomes easier and more cost-effective.
The security features in PLC systems can be used in industrial environments to safeguard data transmission. A number of security mechanisms can be implemented to protect the confidentiality and integrity of data, including encryption, authentication, and access control.
Within the industry, PLCs can be used to manage and optimize energy consumption. Identifying inefficiencies and implementing energy-saving measures can be accomplished by collecting data on energy consumption throughout the facility.
Several technology companies are developing communication over the Internet. For companies with excellent marketing efforts, technological capabilities, and a diverse range of products, their market share will increase significantly. Combining strengths from different companies can lead to innovative products.
Research and development are often responsible for improving products and technologies. Introducing new products as well as improving existing ones can give you a competitive advantage.
| Attribute | Details |
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Forecast Period |
2023 to 2033 |
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Historical Data Available for |
2018 to 2022 |
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Market Analysis |
US$ billion for Value |
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Key Countries Covered |
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Key Market Segments Covered |
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Key Companies Profiled |
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Customization & Pricing |
Available upon Request |
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The power line communication market was worth US$ 7.9 billion by 2022.
The power line communication is expected to generate US$ 8.6 billion in revenue in 2023.
Globally, the power line communication market is expected to reach US$ 19.4 billion by 2033.
The power line communication market is expected to grow at a CAGR of 8.5% during the forecast period.
PMR estimates that the revenue of power line communication between 2018 and 2022 will increase at a 5% CAGR.
The industrial market will generate significant revenues, expanding at an 8.3% CAGR.
The Japanese market for power line communication is expected to grow at a CAGR of 8.7% during the forecast period.
