A new study analysing the global power line communication market forecasts the segment to grow by 9.53% between 2017 and 2023.
The study predicts revenue generation in the power line communication market will increase from $5.47 billion in 2017 to $9.45 billion in 2023.
Increases in demand of power line communication technologies, especially for use for substation communication, will drive the market growth.
The power line communication market for the energy management and smart grid application is expected to witness significant growth amongst other segments during the forecast period.
An increase in the penetration of power line technologies in the vehicle communication and electric vehicle charging markets will result in the growth of the power line communication market for the energy management and smart grid application.
For instance, the increase in adoption of the SAE Combo electric vehicle charging system, which uses power line communication technologies, in the Americas and Europe will drive an increase in revenue generation in the market.
The indoor networking application is expected to witness a significant growth due to high adoption of power line adapters for the network expansion application, especially in the residential vertical.
In terms of regions, the APAC region is expected to grow the most due to increasing use and demand of power line communication technologies in industrial and residential verticals in China, Japan, and South Korea.
However, the high noise generation on power lines limiting the data transmission quality of power line communication devices will have a negative impact on the growth of the market.
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