Power Line Communication Market by Application and Geography - Forecast and Analysis 2022-2026

The power line communication market share is expected to increase by USD 6.36 billion from 2021 to 2026, and the market's growth momentum will accelerate at a CAGR of 11.23%.

This power line communication market research report provides valuable insights on the post COVID-19 impact on the market, which will help companies evaluate their business approaches. Furthermore, this report extensively covers market segmentation by application (smart grid, networking, and long haul) and geography (Europe, APAC, North America, MEA, and South America). The power line communication market report also offers information on several market vendors, including AMETEK Inc., Analog Devices Inc., Broadcom Inc., devolo AG, General Electric Co., Hitachi Ltd., Renesas Electronics Corp., Siemens AG, STMicroelectronics NV., and Unizyx Corp among others.

What will the Power Line Communication Market Size be During the Forecast Period?

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Power Line Communication Market: Key Drivers and Trends

The rising adoption of smart grid technologies is notably driving the power line communication market growth, although factors such as shortage of skilled labor may impede market growth. Our research analysts have studied the historical data and deduced the key market drivers and the COVID-19 pandemic impact on the power line communication industry. The holistic analysis of the drivers will help in deducing end goals and refining marketing strategies to gain a competitive edge.

Key Driver for the Power Line Communication Market

The rising adoption of smart grid technologies is one of the key drivers for the power line communication market growth. The growing adoption of smart grids is one of the critical factors for the increasing demand for smart energy solutions. Globally, utility service providers are adopting smart grid technologies to improve the reliability of the grid and achieve energy efficiency. Furthermore, smart meters are being installed in residential places. Smart meters are an essential link between utilities and homeowners. They enable utilities to have bi-directional communication with their customers. The adoption of smart grid technologies thereby facilitates the communication channel and enhances the infrastructure of the power line communication market growth.

Key Challenge for the Power Line Communication Market

Shortage of skilled labor is one of the key challenges for the growth of the power line communication market share. As PLC technology is fairly new, its implementation is recent, with most people still unaware of its advantages. Companies find it challenging to find skilled professionals who can understand the technology and deliver the product. The companies are required to provide rigorous training to employees before they (employees) join units that manufacture smart energy devices. The cost of replacing old meters is also very high. Such factors together hinder the adoption of power line communication solutions.

This power line communication market analysis report also provides detailed information on other upcoming trends and challenges that will have a far-reaching effect on the market growth. The actionable insights on the trends and challenges will help companies evaluate and develop growth strategies for 2022-2026.

Who are the Major Power Line Communication Market Vendors?

The report analyzes the market's competitive landscape and offers information on several market vendors, including:

• AMETEK Inc.
• Analog Devices Inc.
• Broadcom Inc.
• devolo AG
• General Electric Co.
• Hitachi Ltd.
• Renesas Electronics Corp.
• Siemens AG
• STMicroelectronics NV.
• Unizyx Corp

This statistical study of the power line communication market encompasses successful business strategies deployed by the key vendors. The power line communication market is fragmented and the vendors are deploying various organic and inorganic growth strategies to compete in the market.

To make the most of the opportunities and recover from post COVID-19 impact, market vendors should focus more on the growth prospects in the fast-growing segments, while maintaining their positions in the slow-growing segments.

The power line communication market forecast report offers in-depth insights into key vendor profiles. The profiles include information on the production, sustainability, and prospects of the leading companies. 

Which are the Key Regions for Power Line Communication Market?