Smart Pole Market Growth, Top Manufacturer Analysis and Forecast to 2030

Posted on 2023-03-05 by researchinsights in Technology // 0 Comments

San Francisco, California , USA, Mar 06, 2023 — /EPR Network/ —

Smart Pole Industry Overview

The global smart pole market size was valued at USD 8.90 billion in 2022 and is expected to expand at a compound annual growth rate (CAGR) of 20.8% from 2023 to 2030.

The market growth can be attributed to the ability of smart poles to prevent accidents and traffic jams, the growing need for energy-efficient streetlights, and rising government initiatives for the development of smart cities. Additionally, the integration of air quality monitoring systems, surveillance cameras, wireless sensor networks, traffic management systems, and transport management systems in smart poles have contributed to the demand. The growing adoption of AI and IoT for enhancing the performance of these systems is expected to further accelerate market growth.

Gather more insights about the market drivers, restraints and growth of the Global Smart Pole Market

Governments of various countries are focused on developing their cities by providing smart poles with Wi-Fi access and charging points. For instance, in February 2021, the City of Hampton in Virginia announced the installation of technologically-advanced light poles under its digital transformation project. These poles use green technology such as solar power to provide energy for Wi-Fi access and charging ports. The smart poles are also equipped with security cameras to provide a live video feed to the police of nearby areas. Such initiatives bode well for the growth of the market.

Several governments are realizing the importance of upgrading public infrastructure by adopting the latest technologies and deploying innovative systems that can improve the quality of life for citizens. They are continually identifying new areas of improvement in technologies under smart city projects. Moreover, numerous companies around the world are focused on enhancing their product portfolios to support smart city initiatives. In July 2021, Signify Holding announced the acquisition of Telensa Holding Ltd., a company that provides control systems and wireless monitoring for smart cities. This acquisition enabled Signify Holding to serve a broad group of customers by making smart city infrastructure products affordable to cities.

Many governments are emphasizing the enhancement of their existing lighting infrastructure by implementing energy-efficient lighting systems. For instance, in June 2021, Cochin Smart Mission Ltd. (CSML) announced its Smart Mission project involving the replacement of existing streetlights with energy-efficient lights controlled by its command center. Under the project, CSML aims to install 3,000 streetlights, including those used on connected roads. Moreover, many authorities have been conducting smart lighting programs to upgrade their existing lighting infrastructure with energy-efficient lighting. For instance, in June 2021, New York Power Authority (NYPA) announced its partnership with the Town of Bethel to install 176 energy-efficient streetlights and replace 500,000 streetlights across the state under the New York Power Authority’s Smart Street Lighting NY program.

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Smart Pole Market Segmentation

Grand View Research has segmented the global smart pole market based on component, hardware, installation type, application, and region:

Smart Pole Component Outlook (Revenue, USD Million, 2017 – 2030)

Hardware
Software
Service

Smart Pole Hardware Outlook (Revenue, USD Million, 2017 – 2030)

Lighting Lamp
Pole Bracket & Pole Body
Communication Device
Controller
Others

Smart Pole Installation Type Outlook (Revenue, USD Million, 2017 – 2030)

New Installation
Retrofit Installation

Smart Pole Application Outlook (Revenue, USD Million, 2017 – 2030)

Highways & Roadways
Public Places
Railways & Harbors

Smart Pole Regional Outlook (Revenue, USD Million, 2017 – 2030)

North America
Europe
Asia Pacific
Latin America
MEA

Key Companies profiled:

Some prominent players in the global Smart Pole market include

Cree, Inc.
Eaton
Echelon
General Electric
Siemens
Signify Holding
Silver Spring Networks, Inc.
Telensa
Wipro Limited
Zumtobel Group

Order a free sample PDF of the Smart Pole Market Intelligence Study, published by Grand View Research.

About Grand View Research

Grand View Research, U.S.-based market research and consulting company, provides syndicated as well as customized research reports and consulting services. Registered in California and headquartered in San Francisco, the company comprises over 425 analysts and consultants, adding more than 1200 market research reports to its vast database each year. These reports offer in-depth analysis on 46 industries across 25 major countries worldwide. With the help of an interactive market intelligence platform, Grand View Research Helps Fortune 500 companies and renowned academic institutes understand the global and regional business environment and gauge the opportunities that lie ahead.

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