Portland, OR -- (SBWIRE) -- 09/28/2017 -- Power line communication is applied in residential and commercial applications to enable power management and reduce power leakage. Moreover, it offers numerous benefits, such as high efficiency, low system complexity, and reduced system maintenance. Broadband PLC represents almost 48-50% of the total power line communication market, owing to its resilience and high efficiency. In addition, substantial demand for high-speed data transfers and trend of smart grids to achieve better efficiency are expected to fuel its adoption in the energy & power, oil & gas, and other industry sectors.

Power Line Communication (PLC) Systems Market Overview:

The global power line communication (PLC) systems market is anticipated to reach around $14 billion by 2022, growing at a CAGR of 18.4% from 2016 to 2022. Power line communications is a comparatively new area of telecommunication. It is a communication technology that allows transfer of data over existing power cables. Using the power line as a communication medium is also a cost-effective way as compared to other methods because it uses an existing infrastructure, and wires subsist to every household connected to the power line network. The potential implementation of PLC, with the main emphasis on Internet access, is being adopted in various European and Asian countries as well as in the U.S.

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Increase in adoption of PLC in residential, commercial, and industrial sectors is due to cost-efficiency of PLC infrastructure as compared to traditional or competitive technologies. Therefore, the global PLC market is expected to witness moderate growth in the near future, owing to space efficiency and additional power circulation by this technology. However, dependency of the user for power and data over the same line increases the centralized risk factor and this could hamper the market growth. Proactive government initiatives to promote PLC and smart grids utilizing PLC are expected to provide lucrative opportunities to the market.

With the advent of broadband access, the demand for sending digital voice, video, and Internet data is on a continuous rise. Currently, rise in demand for higher efficiency, faster data transfer rate, and minimal power loss are key factors that drive the PLC market growth. Moreover, increased need for power management technologies is expected to provide lucrative opportunities to market players. Broadband PLC is the leading segment in the global market, and is expected to maintain this trend throughout the forecast period. However, narrowband PLC segment is expected to witness significant growth in the future, as this transistor is compact and cost-effective.

The transmitter & receivers segment is projected to maintain its lead by component as these components are used for transmitting and receiving power and data carrier signals with minimum energy loss. Moreover, in 2015, Europe was a major revenue contributor in this segment due to presence of top manufacturers in the region. UK, Italy, and France are the prime consumers of power line communication, which is expected to fuel the overall market growth.

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Europe is expected to maintain its dominance throughout the forecast period, owing to the increase in number of smart grid projects and industry systems utilizing PLC. Moreover, advancements in residential and commercial sectors are expected to boost the growth, especially in Asian countries such as China, Japan, South Korea, and India.

Asia-Pacific is projected to grow at the highest CAGR during the forecast period, owing to increase in power transmission, upsurge in use of Internet, and rise in adoption of advanced technologies. Furthermore, increase in power management devices across China, Japan, India, and South Korea to cater to the end user needs, such as consumer electronics and industrial systems, have supplemented the market growth. Moreover, technological advancements to overcome power loss issues in extreme conditions are expected to offer lucrative opportunities for market players in the coming years.