Broadband PLC technology offers high speed powerline internet access. It enables the powerline data transmission between 500 kilo-bits per second (kbps) to 3 mega-bits per second (Mbps) which is certainly equivalent and faster to most data transmission technologies. Currently, these chipsets are gaining huge demand in smart homes across the globe sure its high speed connectivity.
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 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 promote PLC systems market grids utilizing PLC, are expected to provide lucrative opportunities to the market.
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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. Power line 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 significant growth rate of CAGR 14% during the forecast period 2018-2023.
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Excerpts on 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 positively 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 has resulted in rising demanded 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 digital divide between urban and rural areas boosts demand for broad band over power lines 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 for the growth of the market throughout the forecast period. Global Broadband PLC Chipset Market key players have making 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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