The "Narrowband PLC Chipset Market - Forecast (2020 - 2025)" report has been added to ResearchAndMarkets.com's offering.
The Narrowband PLC Chipset Market is forecast to reach $457.2million by 2025, estimated to grow at a CAGR of 12.3% from 2020 to 2025.
The increasing demand of smart grid is driving the growth of narrowband PLC chipset Market. The PLC chip set helps in real-time measurements, monitoring and control of the generation, which is going to provide huge growth to NB PLC chip set market.
The use of NB PLC chip set in measuring the power transfer between the grid and electric vehicle is going to provide huge growth to NB PLC chipset market.
Highly adoption of smart grid, due to availability of resources is going to boost the NB PLC chipset market in Europe. The countries such as Germany, France are promoting smart grid by imposing new regulations, which is going to provide huge Narrowband PLC Chipset Market in this region.
Application- Segment Analysis Micro-Inverter Systems
The application of Narrowband Power Line Communication (PLC) Chipset in Micro inverter Systemic estimated to provide huge growth to Narrowband PLC Chipset Market during the forecast period. The narrow band PLC chipsets are widely used in Micro inverter Systems no additional connectors and cables needed to enable module-based monitoring, which is going to provide huge growth to NB PLC chip set market .Moreover the increasing use of low voltage (LV), due to rise in Advanced metering infrastructure (AMI) systems is going to provide huge growth to NB-PLC market.
End User- Segment Analysis
Power & energy followed by automotive industry is expected to hold the major market share of Narrowband Power Line Communication (PLC) Chipset during the forecast period. The increasing use of Advanced metering infrastructure (AMI) systems in smart grid systems is going to provide huge growth to NB PLC market. The growing demand of AMI systems is going to provide huge growth to NB PLC chipset market. The NB PLC chipset plays major role in increased meter reading accuracy, easier energy theft detection and Others Additionally, NB PLC provides security and guarantees authentication in electric vehicles. The physical association of NB PLC between the vehicle and the supply equipment is going to provide huge growth to Narrowband PLC Chipset Market in Automotive industry.
Geography - Segment Analysis
The Narrowband PLC Chipset Market is dominated by Europe and it is expected to grow at 11.5% during the forecast period. The increasing use of smart grid is going to provide huge growth to NB PLC chip set market in this region. The countries such as France, Spain, U.K and others are imposing strict timeline for the deployment of smart meters, which is going boost the NB PLC chip set market. Additionally in countries such as Germany, is providing ability to monitor and control their electrical appliances in real time with the help of Google and Digital storm which is going to NB PLC chip set market.
Drivers - Narrowband PLC Chipset Market
Increasing Demand AMI Systems
The increasing demand of Advanced Metering Infrastructure (AMI)is one of the driving factors Narrowband PLC Chipset Market. NB PLC is widely used in AMI as it utilizes the existing power line network for communication media between smart meters and Data Collector Units (DCU). The NB PLC chip set provides several benefits such as automatic meter reading (AMR), demand side response, and distribution automation, this is going to boost NB PLC chip set market.
Increasing Demand of Electric Vehicle
The onboard communication is one of the major problem faced in electric vehicle, NB PLC helps in overcoming such problems, by utilizing DC power line as a physical medium to exchange messages, according to standard protocol, which is providing huge growth to NB PLC chip set market. NB PLC chipset helps in monitoring the state of grid and electric vehicle. Additionally NB PLC chip set also used in measuring the power transferred between the electric vehicle and the grid. Hence the increasing demand of electric vehicles is going to boost the PLC chip set market.
Challenges - Narrowband PLC Chipset Market
The signal attenuation is acting as one of major hindrance in the growth of Narrowband PLC chip set market. The power distribution transformer causes high signal attenuation, due to location of Power line communication devices in low voltage side and medium voltage side. Additionally the unwanted signals (noise) increases in narrowband due to amplitude modulation, is restricting the growth of NB PLC chip set market.
In April 2020, CHAdeMO Association, has launched CHAdeMO 3.0 electric vehicle charger based on internet protocol IP-based networks. In this System the data stream is modulated onto the power line, which is going to provide huge growth to NB PLC Charger market in automotive industry.
In November 2019 2020, STMicroelectronics has design ST8500 PLC chipset, which wirelessly communicate by using power cables or radio frequency. This is going makes easy implementation of PLC in local infrastructure, which is going to provide huge growth NB PLC chip set market.
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