According to the “Power Line Communication – Global Market Outlook (2017-2026)” report, the global power line communication market accounted for $5.12 billion in 2017 and is expected to reach $13.38 billion by 2026 growing at a CAGR of 11.3%.
Increasing adoption of smart grids, growing demand for broadband frequencies in Indoor network applications, and recent technological advancements are propelling the market growth during the forecast period.
In addition, cost efficient power line communication technologies, increasing demand from emerging countries are also factors favouring the market growth.
However, availability of alternatives to power line communication and network security are major constraints limiting the growth.
By application, energy management and smart grid segments lead the market globally with the biggest market share and is expected to grow with a high CAGR during the forecast period.
Depending on the frequency, the narrowband segment dominated the global market due to their wide applicability in energy management and smart grid application.
North America and Europe are projected to be the leading markets in terms of market size, during the forecast period. Asia Pacific and Middle East & Africa are expected to witness high growth rate during the forecast period owing to high adoption of power line communication in various applications.
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