Market Increasing Trend Owing to Rising Application in the Industrial and Agricultural Sector
Rising application of energy in different verticals such as industries and agriculture is likely to drive demand for power line carrier communication during the forecast period. Power line carrier communication is a method with which existing power lines have been used to transmit information.
Presently, housing units have well settled electricity lines. With this method, existing AC (alternative current) has been utilized for data transmission in a cost effective manner.
Demand for electricity is witnessing increasing trend owing to rising application in the industrial and agricultural sector. Demand is high especially in developed and emerging economies due to higher concentration of industries.
Power line carrier communication has been adopted in electrical transmission systems as installation of this system makes the transmission faster and smooth. Hence, growing demand for electricity boosts the demand for power line carrier communication.
Higher investment in the telecommunication sector is also a major driving factor for this market to grow over time. Data transmission in the form of video communication and telephonic communication has considerably improved with the help of power line carrier communication, and development of the telecommunication sector is expected to drive the power line carrier communication market.
This system attains growing importance owing to rising concerns regarding security in home and business units. Surveillance cameras have been installed in homes and business units, which currently drives the demand for power line carrier communication.
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One of the major restraints of the market for power line carrier communication is that it requires skilled personnel for the maintenance of such systems. High maintenance cost is projected to hinder the growth prospects of this market during the forecast period.
This type of power line carrier system produces considerable noise during operation thus creating sound pollution. This factor is also likely to restraint the growth prospect of this market during the forecast period.
Home automation is seeing increasing demand, and power line carrier communication systems have been deployed in home control and automation. Utilization of power line carrier systems in home automation reduces the cost of resources and this leads to efficient utilization of resources.
Use of power line carrier systems in homes leads to power management and energy conservation and this in turn offers an opportunity for the power line carrier communication market to grow during the forecast period.
On the basis of technology, the power line carrier communication market is segmented into two types - broadband and narrowband. The market for narrowband is expected to expand at the highest CAGR (compound annual growth rate) during the forecast period.
This type of power line carrier has been increasingly used in residential, industrial, and commercial buildings. Moreover, application of power over Ethernet and wireless access points is anticipated to propel the market demand for power line carrier communication over the forecast period.
Based on verticals, the power line carrier communication market is segmented into commercial, residential, and industrial. The commercial vertical held the dominant market share and is expected to retain the same during the forecast period.
There is growing transformation to smart metering systems. Moreover, rising trend of home automation coupled with surging need for reliable and secure network systems is slated to propel the demand for power line carrier communication during the forecast period.
According to geographic locations, the market is segmented into five regions. These include North America, Europe, Asia Pacific, Middle East & Africa (MEA), and Latin America.
Asia Pacific is likely to be the fastest growing region for the power line carrier communication market owing to the growing adoption of smart metering infrastructure in this region. Furthermore, utilization of power line carrier based infrastructure in commercial and industrial sectors is contributing to the growth path of this market.
Some of the key market players in the power line carrier communication market include Texas Instruments Inc, Linear Technology Corp., STMicroelectronics N.V., Cypress Semiconductor Corp. and others.
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