Global Power Line Communication (PLC) Market Surpasses $9.2 Billion in 2022, Poised for Remarkable 10.4% CAGR, Reaching $16.8 Billion by 2028
DUBLIN, Sept. 28, 2023 /PRNewswire/ -- The "Power Line Communication Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2023-2028" report has been added to ResearchAndMarkets.com's offering.
The global Power Line Communication (PLC) market has reached a significant milestone, achieving a valuation of US$ 9.2 Billion in 2022.
As we look forward, industry experts anticipate substantial growth, with the market expected to soar to US$ 16.8 Billion by 2028. This impressive expansion is driven by a compound annual growth rate (CAGR) of 10.4% during the forecast period from 2023 to 2028.
Power Line Communication: A Backbone for Data Transmission
Power Line Communication (PLC) technology serves as a robust communication medium for transmitting data over existing power-grid infrastructures. It plays a pivotal role in facilitating communication and data transmission for various Internet of Things (IoT) and smart grid applications.
PLC is instrumental in powering electronic devices and enabling data retrieval and control through them. The market is divided into two key types: narrowband and broadband. Narrowband PLC operates at lower frequencies and data rates but boasts an extended range. In contrast, broadband PLC operates at higher frequencies and data rates, primarily serving shorter-range applications.
Driving Forces Behind Market Growth
Several factors are propelling the growth of the PLC market:
The comprehensive report offers a detailed analysis of the PLC market, categorizing it based on various parameters:
Key Questions Answered in This Report
This report addresses crucial questions in the PLC market:
Key players in the PLC market include ABB, AMETEK Inc., Belkin, Broadcom Inc., Cypress Semiconductor, D-Link Corporation, General Electric, Hubbell Power Systems Inc., Landis+Gyr, Maxim Integrated, Netgear, Schneider Electric, Siemens, TP-Link Technologies, Zyxel Communications, and more.
For more information about this report visit https://www.researchandmarkets.com/r/x9czyn
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