Exciting Possibilities in the Broadband Power Line Communication Market & Their Potential
North America to have a major share in the Broadband PLC Chipset Market:
North America is the dominating market for global Broadband Power Line Communication Market in 2017. APAC is estimated to grow at a higher rate of 55.5% in global Broadband PLC Chipset Market by 2023 owing to the rising demand for connectivity and access to the internet across the region. The possible implementation of PLC, with the main emphasis on internet power access, is at a higher adaption in various European and Asian countries. Due to proactive government initiatives to promotePLC systems market grids utilizing PLC, are expected to provide lucrative opportunities to the market.
Selected Analysis done in the Broadband PLC Market Report:
In 2017, networking held the largest size share of around 25% and continues its dominance in the global Broadband PLC Chipset Market and projected to reach about $905.62m by the end of 2023. Powerline networking is considered as the cheapest method of connecting computers and other devices because these are Ideal for connecting old devices to the internet which don’t have built-in Wi-Fi connectivity.
The market is all set to exhibit robust development with a broad range of satellite broadband applications in various industry verticals which include voice over IP, home networking, factory automation, building automation, enterprise, healthcare, transportation, and others. Home networking is projected to continue its dominance in the global Broadband PLC Chipset Market owing to the rising demand for ability to send audio, video and internet data around the home or office buildings and projected to reach about $329m by the end of 2023, while transportation sector is estimated to witness a significant growth rate of CAGR 14% during the forecast period 2018-2023.
Excerpts on Broadband PLC Market Growth Factors:
• Consumers across the globe are continuously utilizing high-speed LTE broadband for multiple connected devices and the trend is expected to continue in future. Therefore, this will show a positive impact on the smart home market, which in turn fuel the growth of PLC broadband chipset market.
• Growing installations of surveillance equipment, which is one of the most effective ways of protecting one’s property from thieves or burglars have resulted in rising demand for the broadband PLC chipsets.
• Increasing demand for power Line Communication Systems Market, the technology in the indoor networking application is likely to boost the demand for broadband PLC chipsets
• The urgent need to bridge the digital divide between urban and ruralareas boosts demand for broadband over powerlines developing economies.
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Key players of the Broadband PLC Chipset Market:
Key players such as Vango Technologies, MegaChips Corporation, Maxim Integrated and many more are resulting in the growth of the market throughout the forecast period. Global Broadband PLC Chipset Market key players have made different strategic initiatives include partnerships, acquisitions, products launches, and collaborations majorly to augment entry into related markets and enhance core competencies through additions to product portfolio as well as leveraging capabilities of acquired companies to gain a foothold in the emerging markets.
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