Global Smart Pole Market Is Expected To Increase At A Whopping CAGR Of 21% During The Forecast Period 2022-2032

Rockville, United States, 2022-Sep-02 — /EPR Network/ —

Global Smart Pole Industry Outlook (2022-2032)

The global smart pole market was valued at US$ 8 Bn in 2021, and is expected to increase at a whopping CAGR of 21% during the 2022-2032 forecast period. This industry is projected to reach a market size worth US$ 65.12 Bn by 2032.

To remain ‘ahead’ of your competitors, request for a sample – https://www.factmr.com/connectus/sample?flag=S&rep_id=7142  

 

Report Attributes	Details
Market Value for 2021	US$ 8 Bn
Expected Market Size in 2022	US$ 9.68 Bn
Projected Market Valued in 2032	US$ 65.12 Bn
Growth Rate (2022-2032)	21% CAGR
Market Share of North America during 2022	31%
Revenue Share of Hardware Segment	58%
Key Companies Profiled	Eaton Corporation PLC General Electric Company Siemens AG Silver Spring Networks (Itron) Wipro Limited Signify Holding B.V Echelon The Zumtobel Group Cree (Wolfspeed Inc.)

During the end of 2022, this market observed a rise in their growth and is thus can be expected to reach a market valuation of US$ 65.12 Bn by 2022. Smart poles can prevent traffic jams and accidents, as well as the growing need for energy-efficient streetlights and government initiatives for developing smart cities. This is what accounts for the market growth.

Key Segments Covered in the Smart Pole Industry Survey

• By Installation Type :

  • New Smart Pole Installation
  • Retrofit Smart Pole Installation

• By Application :

  • Smart Poles for Highways & Roadways
  • Smart Poles for Public Places
  • Smart Poles for Railways & Harbors

• By Component :

  • Smart Pole Software
  • Smart Pole Hardware
    • Lighting Lamp
    • Pole Bracket & Pole Body
    • Communication Device
    • Others

Need more information about Report Methodology? Click here-  https://www.factmr.com/connectus/sample?flag=RM&rep_id=7142 

Competitive Landscape

There is a high degree of fragmentation in the market. As a result, key players use various strategies to strengthen their positions in the market, including new product development, research, and development, and strategic partnerships. As part of their efforts to establish a strong presence, they are also offering software and products for smart poles. To remain competitive, the key focus for market players is to enhance their product offerings to meet the evolving needs of end users.

• Siklu and Schreder launched a wireless backhaul service for smart infrastructure solutions in March 2021, called SHUFFLE Wireless Backhaul. Smart pole technologies provide security and safety to public spaces.
• Signify completed the acquisition of Cooper Lighting Solutions from Eaton in March 2020 for USD 1.5 billion. This acquisition was part of the company’s plan to innovate connected lighting and systems. The company expects that this will increase its professional revenues from 42% to 53% in the North American market.

What are the specific drivers of the Smart Pole Market?

Growing Environmental Concerns Boosting Adoption of Smart Poles

Air quality management is one of the growing environmental issues in urban areas. Each year, seven million people die from illnesses caused by poor air quality and air pollution, according to the World Health Organization. Smart poles play an important role in solving the problem of urban air pollution, as it can monitor several environmental factors, including fine particulate matter concentrations, temperature, and humidity, to provide a complete picture of the overall air quality in an area.

Furthermore, citizens can access environmental information via smart poles in order to limit their exposure to air pollution, and city planners can use gathered data to support decisions that may improve urban air quality. The government is increasingly emphasizing the use of energy-efficient lighting to enhance its existing infrastructure.

In June 2021, Cochin Smart Mission Ltd. (CSML) announced its Smart Mission project, which involves replacing existing streetlights with energy-efficient ones controlled remotely. As part of the project, CSML hopes to install 3,000 streetlights, including those on connected roads. Furthermore, many municipalities are implementing energy-efficient lighting programs to upgrade their existing lighting infrastructure.

Full Access of this Exclusive Report is Available at- https://www.factmr.com/checkout/7142

Key Takeaways from the Market Study

• By 2022, it is estimated that this market will reach a market valuation of US$ 65.12 Bn Bn.
• In 2022, North America is projected to account for over 31% of sales.
• Controllers are expected to dominate the market in 2022, accounting for over 30% of revenue.
• The development of smart cities by various governments is expected to drive the highest revenue share of over 60% for retrofit installation by 2022.
• Over 58% of revenue is expected to come from the hardware segment in 2022
• Asia Pacific is likely to experience a CAGR of 19% from 2022 to 2032

“Rising investments in initiatives for smart cities, growth in technology, the use of IoT technology, and the demand for energy efficiency in developing economies provide favorable growth opportunities for the market for smart poles”, reports the Fact.MR analyst

Demand Analysis of Smart Poles 2015-2021 vs. Market Outlook 2022-2032

According to Fact.MR- a market research and competitive intelligence provider- demand for smart poles accelerated at a 15% CAGR between 2015 and 2021. But the smart poles that integrate air quality monitoring systems, security cameras, wireless sensor networks, traffic management systems, and transport management systems have increased demand. Growth is further expected to be accelerated by adoption of AI and IoT to improve performance.

The outbreak of COVID-19 has resulted in an economic slowdown in a number of countries. Many construction and development projects were also put on hold, which negatively impacted the growth of the smart pole market. During the pandemic, the U.S. and Chinese governments halted their construction and infrastructure activities to arrest the spread of the disease. In spite of these restrictions, the market is forecast to see strong growth during the forecast period as restrictions are loosened worldwide.

In different countries, governments are looking into providing smart poles with Wi-Fi access and charging points for citizens to improve the quality of life. A number of governments are realizing the importance of upgrading public infrastructure in order to improve the quality of life for citizens. They are constantly looking for ways to improve technologies under smart cities. All these factors together will bode well for the growth of the market and thus it is expected that this market will grow by 1.4x during the forecast period.

Read More Trending Reports of Fact.MR-

https://www.einpresswire.com/article/557298123/demand-for-independent-front-suspension-is-estimated-to-remain-high-owing-to-the-system-of-better-handling-stability

Why choose Fact.MR?

Reports published by Fact.MR are a result of the combination of our experts and digital technologies. We thrive to provide innovative business solutions to the clients as well as tailor the reports aligning with the clients’ requisites. Our analysts perform comprehensive research to offer ins and outs of the current market situation. Clients across various time zones tend to utilize our 24/7 service availability.

Explore Fact.MR’s Comprehensive Coverage on Technology Domain:

Portable Audio Amplifier Market – https://www.factmr.com/report/portable-audio-amplifier-market

Air Conditioner Remote Control Market – https://www.factmr.com/report/1228/air-conditioner-remote-control-market

Learning Remote Controls Market – https://www.factmr.com/report/1269/learning-remote-controls-market

About Fact.MR

Market research and consulting agency with a difference! That’s why 80% of Fortune 1,000 companies trust us for making their most critical decisions. We have offices in US and Dublin, whereas our global headquarter is in Dubai. While our experienced consultants employ the latest technologies to extract hard-to-find insights, we believe our USP is the trust clients have on our expertise. Spanning a wide range – from automotive & industry 4.0 to healthcare & retail, our coverage is expansive, but we ensure even the most niche categories are analyzed. Reach out to us with your goals, and we’ll be an able research partner.

Contact:

Japan Sales Office
Neha Bhosle, 4-1-1 Nakano,
9F Nakano Sunplaza
Tokyo, 164-8512
Japan
E: sales@factmr.com