Smart Pole Market Forecasts to 2028 – Global Analysis By Installation Type (Retrofit Installation, New Installation), Application (Public Places, Highways and Roadways, Railways and Harbors), and By Geography
According to Stratistics MRC, the Global Smart Pole market is accounted for $10.94 billion in 2020 and is expected to reach $54.02 billion by 2028 growing at a CAGR of 22.1% during the forecast period. Some of the key factors propelling the market growth include rising need for reducing traffic jams and preventing accidents, growing government initiatives for smart cities, and increased demand for technologically advanced solutions for pole lighting systems. However, high initial cost is restricting the market growth.
Smart poles are recognized as intelligent light poles mainly focused as they’re deployed using the solar-powered energy generation units for their working as this will enable the deployment of the smart poles in remote areas like an architectural location. It features technology to improve mobile network recital across the city and give diverse benefits, such as public announcement speakers, internet connectivity, and charging points, to help citizens in public places.
By installation type, the retrofit installation segment is projected to grow at the significant rate during the forecast period, due to the smart city initiatives being pursued by diverse governments to install digital signage, security cameras, Wi-Fi hot spots, and environment monitoring systems on existing light poles.
On the basis of geography, Asia Pacific region is expected to have considerable market growth during the forecast period, due to the high-speed Wi-Fi and environment sensors, development of several smart cities in the emerging economies, and growing government initiatives in countries to expedite the substitute of traditional pole systems with smart pole systems to decrease the load of energy utilization by the street lights by 40%.
Some of the key players in Smart Pole Market include Acuity Brands, Inc., Mobile Pro Systems, Philips Lighting Holding B.V., Valmont Structures Pvt. Ltd, Zumtobel Group AG, Virtual Extension Ltd., General Electric Company, Syska LED Lights Private Limited, Siemens, Cree, Inc., Ericson, Hubbell Incorporated, Neptun Light, Inc., Eaton Corporation PLC, Wipro, and Telensa Limited.
Estimated Market Size in 2020:
USD 10.94 billion
Compound Annual Growth Rate (CAGR) from 2020 to 2028:
Predicted 2028 Value:
USD 54.02 billion
Tables, Graphs & Figures
Installation Type, Component, Sales Channel, and Application.
Core Drivers and Opportunities:
Restraining Factors & Market Threats:
Installation Types Covered:
• Retrofit Installation
• New Installation
Sales Channels Covered:
• Direct Sales
• Public Places
• Highways and Roadways
• Railways and Harbors
• North America
o Rest of Europe
• Asia Pacific
o New Zealand
o South Korea
o Rest of Asia Pacific
• South America
o Rest of South America
• Middle East & Africa
o Saudi Arabia
o South Africa
o Rest of Middle East & Africa
What our report offers:
- Market share assessments for the regional and country-level segments
- Strategic recommendations for the new entrants
- Covers Market data for the years 2019, 2020, 2021, 2025 and 2028
- Market Trends (Drivers, Constraints, Opportunities, Threats, Challenges, Investment Opportunities, and recommendations)
- Strategic analysis: Drivers and Constraints, Product/Technology Analysis, Porter’s five forces analysis, SWOT analysis, etc.
- Strategic recommendations in key business segments based on the market estimations
- Competitive landscaping mapping the key common trends
- Company profiling with detailed strategies, financials, and recent developments
- Supply chain trends mapping the latest technological advancements
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• Company Profiling
o Comprehensive profiling of additional market players (up to 3)
o SWOT Analysis of key players (up to 3)
• Regional Segmentation
o Market estimations, Forecasts and CAGR of any prominent country as per the client's interest (Note: Depends on feasibility check)
• Competitive Benchmarking
o Benchmarking of key players based on product portfolio, geographical presence, and strategic alliances
Key Questions Answered In The Report
The Global Smart Pole Market is majorly driven by growing government initiatives for smart cities, increasing inclination for cab services amongst customers, and rising need for reducing traffic jams and preventing accidents.
The highways and roadways segment is growing at a highest CAGR owing to rising number of smart roads being developed across the globe and high density of street lights on highways and roadways compared to other applications.
North America dominated with a significant market share due to the need to increase urban efficiency through smart city applications, the dense presence of the vendors for the pole components and software, and growing effort of the US department of transportation (DOT) to develop personal rapid transit in the urban environment.
Asia Pacific market is growing at a highest CAGR owing to increasing government initiatives in the countries and the development of several smart cities in the emerging economies in the region.
Key players in Smart Pole Market include Acuity Brands, Inc., Mobile Pro Systems, Philips Lighting Holding B.V., Valmont Structures Pvt. Ltd, Zumtobel Group AG, Virtual Extension Ltd., General Electric Company, Syska LED Lights Private Limited, Siemens, Cree, Inc., Ericson, Hubbell Incorporated, Neptun Light, Inc., Eaton Corporation PLC, Wipro, and Telensa Limited.
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