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Smart Pole Market Report

RA08559

Smart Pole Market by Component (Hardware, Software, and Services), Installation (New Installation and Retrofit Installations), Hardware Type (Lighting Lamp, Pole Bracket & Pole Body, Communication Device, Controller, and Others), Application (Highways & Roadways, Public Places, and Railways & Harbors), and Regional Analysis (North America, Europe, Asia-Pacific, and LAMEA): Global Opportunity Analysis and Industry Forecast, 2021–2028

RA08559

Pages: 229

Feb 2022

COVID-19

pandemic has shown to have an enormous impact on most
industries.

Click Here to access our comprehensive analysis of the

Impact of covid-19 on Smart Pole Market

Smart Pole Market Analysis

The global smart pole market is anticipated to garner $20,739.1 million in the 2021–2028 timeframe, growing from $6,123.7 million in 2020, at a healthy CAGR 16.7%.

Market Synopsis

The smart pole market is expected to grow due to product advancements, acquisitions, and business expansion by key market players to increase the adoption of smart pole for various applications.

The main impediment, however, is high cost associated with the smart pole.

According to the regional analysis of the market, the Asia-Pacific smart pole market is anticipated to grow at a CAGR of 18.3%, by generating a revenue of $4,178.9 million during the review period.

Smart Pole Overview

Globally, street lighting is growing, fueled by regulatory policies that promote energy efficiency, LED price drops, IoT convergence, and a new business model "as a service" in a variety of industries. A smart pole is a light pole equipped with intelligent LED lighting, a camera, and even an electric vehicle charging system. Apart from possibly housing an OEM's wireless macro, 5G technology, or small cell, this is about as far as most system suppliers have gone in terms of defining a smart pole for a smart city. The new "smart poles" concept is also gaining traction around the world, with applications ranging from basic LED replacement and remote control to the more innovative concept of "smart poles" equipped to provide video surveillance services, air quality monitoring, and fiber or Wi-Fi connectivity.

Impact Analysis of COVID-19 on the Global Smart Pole Market

COVID-19 has affected almost the entire world, causing widespread disruptions in economies and healthcare services. The pandemic forced governments to take actions usually reserved for war, depression, and natural disasters. Governments across the world are taking extreme measures to limit the loss of human lives and minimize economic disruption. The pandemic has impacted negatively on the smart pole market. Various countries opted for strict lockdowns, shutdowns, and mobility restrictions to avoid the spread of the virus, owing to the outbreak of COVID-19. The pandemic led to reduced manpower efforts. For instance, the almost complete shutdown of Silicon Valley during the crisis made it difficult to cater to the needs of smart cities fand hindered the strategic management and planning by the government and other stakeholders. COVID-19 has affected the healthcare and energy industries around the world. However, these industries are trying to adopt emerging technologies such as AI and IoT to overcome the challenges faced due to the pandemic.

Smart City Development and Advanced Remote Control Systems Drive the Growth of the Smart Pole

Because of their capillarity, connectivity, and electrification, smart poles serve as strategic infrastructure for smart city development. Poles are the most convenient infrastructure for hosting a fiber network, and they can also be used to host small cells/antennas to meet 5G densification requirements. Energy consumption reduction and concern about the proliferation of environmental wastes are major motivators for the adoption of smart city solutions. Growing concerns about global warming and ozone depletion have accelerated governments' efforts to control their carbon footprint, with governments imposing stricter regulations to limit emissions. Implementing intelligent infrastructure automation, smart grids, and controlling systems, significantly reduces power consumption and carbon emissions while also minimizing losses and optimizing operations.

To know more about global smart pole market drivers, get in touch with our analysts here.

High Cost of Implementation to Restrain Market Growth

Economies having a tight budget are not able to implement smart pole solutions due to the cost of deploying these systems. The cost incurred in the transformation of the existing infrastructure acts as a deterrent for governments to continue large-scale investments. Though smarter infrastructure helps reduce the operating costs and increase energy efficiency, the initial costs required pose a major barrier.

Rise of 5G to Accelerate the Adoption of Smart City Solutions Creating the Growth Opportunities for the Smart Pole Market

For decades, the advancement of communication technology has laid the groundwork for widespread economic growth in the United States, benefiting both large and small towns and cities. The next generation of wireless network infrastructure will be built using small-cell networks based on 5G wireless technology. The rise of 5G technology has brought about significant changes in the world of cloud computing. Because of 5G's low latency connectivity, communications are smoother and data transfers are faster. 5G speeds up access to video analytics and artificial intelligence, making the city a safer place. This allows city managers, building owners, and facility managers to make informed decisions and provide efficient public services. The evolution of 5G has yet to fully realize its transformative potential, representing a significant growth opportunity for the smart poles market. The increasing number of interconnected objects generates an unprecedented volume of data, which the city can analyze locally to make better decisions about what changes or new projects will benefit residents the most.

To know more about global smart pole market opportunities, get in touch with our analysts here.

Smart Pole Market
By Type

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Based on component, the market has been divided into Hardware, software, and services. Hardware sub-segment accounted for the highest revenue share in 2020 and software sub-segment is predicted to show the fastest growth during the forecast period. Download PDF Sample Report

Installation: Research Dive Analysis

The hardware sub-segment is anticipated to have a dominant market share and generate a revenue of $10,504.7 million by 2028, growing from $3,040.5 million in 2020. A strong and consistent connectivity backbone is required for the proper operation of cellular phones, Internet of Things (IoT) sensors, mobile payments, automated vehicles, and other devices. Municipalities see smart poles as infrastructure that can generate new revenue streams and improve public safety. These are some factors that are boosting the hardware demand for the manufacturing of the smart pole devices, creating growth options.

The software sub-segment is anticipated to have the fastest growth and generate a revenue of $7,588.1 million by 2028, growing from $2,148.2 million in 2020, with the healthy CAGR of 9.7%. All software solutions that are integrated into the smart pole to connect it and allow it to transfer and manage information are referred to as software. The capability to control the functionality of the light is the fundamental feature of any lighting system's software. The smart lighting software includes features such as real-time monitoring, daylight saving, alarms for street and other outdoor lights, dimming control, energy savings, intelligent dispatching, intuitive programming, lighting function scheduling, and analytics & reporting. As devices become more interconnected, there will be a greater demand for more robust software solutions. As a result, the software solution market is expected to grow at the fastest rate during the forecast period.

Smart Pole Market
By Intallation Type

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Based on installation, the analysis has been divided into new installation and Retrofit installations. Out of these, new installation sub-segment is predicted to be the most dominant and Retrofit installations sub-segment is anticipated to show the fastest growth during the forecast period.

Installation: Research Dive Analysis

The new installation sub-segment of the global smart pole market is anticipated to have a dominant market share and surpass $10,555.3 million by 2028, with an increase from $3,973.4 million in 2020. The installation of new poles and the relocation of existing poles are part of long-term measures that will take a month to complete after the work order is issued. The demand for the pole with all the functionality such as internet connectivity, 5G networking, CCTV, and others is one of the major reasons that is creating growth opportunities.

Smart Pole Market
By Hardware Type

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Based on type of hardware, the analysis has been divided into Lighting Lamp, pole bracket & pole body, communication device, controller, and others. Among these, lighting lamp is predicted to be the most dominant sub-segment and communication device sub-segment is anticipated to have the fastest growth during the forecast period.

Installation: Research Dive Analysis

The lighting lamp sub-segment of the global smart pole market is anticipated to have a dominant market share and surpass $7,122.1 million by 2028, with an increase from $2,116.4 million in 2020. The rise of smart cities is a major driver of demand for streetlights. The use of connected LED street lighting in smart cities projects helps to renovate ageing city infrastructure. The use of a mobile network in conjunction with a centralized management system (CMS) to implement the connected street lighting programme allows city managers to remotely control and monitor lighting assets. These are some key factors that are creating the way for market growth.

The communication device sub-segment of the global smart pole market is anticipated to have the fastest growth and surpass $5,351.7 million by 2028, with an increase from $1,512.4 million in 2020, with the CAGR 17.3%. Smart poles are being considered by governments in developing regions as the future of wireless connectivity. Furthermore, the government is looking for a solution to serve as a hub for data communication systems, cloud computing, services & content hosting, and other functions.

Smart Pole Market
By Application

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Based on application, the analysis has been divided into Highways & Roadways, public places, and railways & harbors. Among these, Highways & Roadways is predicted to be the most dominant sub-segment and public places sub-segment is anticipated to have the fastest growth during the forecast period.

Installation: Research Dive Analysis

The highways & roadways sub-segment of the global smart pole market is anticipated to have a dominant market share and surpass $10,517.6 million by 2028, with an increase from $3,043.7 million in 2020. Smart poles have the potential to play a critical role in addressing various urban issues such as monitoring environmental parameters such as humidity, temperature, and fine air particle concentration, and assisting the quality of ambient air. Growing infrastructure and construction activity of the road of the smart cities in developing region has increased the adoption of the smart pole across the globe.

The public places sub-segment of the global smart pole market is anticipated to have the fastest growth and surpass $7,573.6 million by 2028, with an increase from $2,145.0 million in 2020, with the CAGR 17.3%. Technologies have continued to have an impact on society over time, improving the standard of living and the quality of life. Advancements in telecommunications, the Internet of Things, cloud & edge computing, scalable storage, and data analytics have enabled fast computing, data-powered insights, connected mobility, and anytime communications. The growing preference for public-private partnerships for the deployment of Wi-Fi networks in public places is expected to drive the sub-segment's growth.   

Smart Pole Market
By Region

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The smart pole market was investigated across North America, Europe, Asia-Pacific, and LAMEA.

Installation: Research Dive Analysis

The Market for Smart Pole in North America to be the Most Dominant

The North America smart pole market accounted $2,448.9 million in 2020 and is projected to register a revenue of $7,671.4 million by 2028. North America smart pole market is regarded as one of the most promising markets in the lighting industry for smart pole solutions. Lighting operating costs in commercial buildings in North America are estimated to be significantly high, and smart lighting provides an efficient and cost-effective solution. Furthermore, appropriate energy policies and regulations to limit energy consumption are being implemented in North America, assisting in the development and adoption of smart lighting solutions in the region.

The Market for Smart Pole in Asia-Pacific to be the Most Lucrative

The Asia-Pacific smart pole market accounted $1,099.2 million in 2020 and is projected to register a revenue of $4,178.9 million by 2028. The Asia-Pacific smart pole market is expected to grow at a significant CAGR 18.3% over the forecast period. Stringent environmental regulations, a growing automotive sector in this region, and lower labor costs associated with smart pole are major factors driving the Asia-Pacific smart pole market. Furthermore, rising exports from both developing and developed countries such as Australia, South Korea, and India are expected to be the primary driver of market growth.

Competitive Scenario in the Global Smart Pole Market

Product advancements, innovations, and business expansion are common strategies followed by major market players.

Competitive Scenario in the Global Smart Pole Market

Installation: Research Dive Analysis

Some of the leading smart pole market players are Philips Lighting Holding B.V., GE Lighting Co. Ltd, Hubbell Incorporated, Cree, Inc., Eaton Corporation, Acuity Brands, Sunna Design, Mobile Pro Systems, Goldspar Australia Pty Ltd., and Virtual Extension Ltd.

Porter’s Five Forces Analysis for the Global Smart Pole Market:

  • Bargaining Power of Suppliers: There are few suppliers in the smart pole market. Also, there is high demand for smart pole from various countries in order to reduce the energy usage.
    Thus, the bargaining power suppliers is high.
  • Bargaining Power of Buyers: Buyers have little bargaining power because establishing a smart pole requires a large capital investment.
    Thus, the bargaining power of the buyers is low.
  • Threat of New Entrants: The companies entering smart pole market have to deal with high investment cost and adhere to the environmental regulations as well. 
    Thus, the threat of the new entrants is low.
  • Threat of Substitutes: There are substitutes available in the market such as traditional lightening poles. However, various countries are focusing on reducing the usage of the electricity and smart solutions have all in one like CCTV, network connectivity, and others.
    Thus, the threat of substitutes is low.
  • Competitive Rivalry in the Market: The competitive rivalry among industry leaders is extensive mainly because the number of players operating in smart pole industry are focusing on business expansion and product innovations.
    Therefore, competitive rivalry in the market is high.

Aspect

Particulars

  Historical Market Estimations

  2019-2020

  Base Year for Market Estimation

  2020

  Forecast Timeline for Market Projection

  2021-2028

  Geographical Scope

  North America, Europe, Asia-Pacific, LAMEA

  Segmentation by Component

  • Hardware
  • Software
  • Services

  Segmentation by Installation

  • New Installation
  • Retrofit Installations

  Segmentation by Hardware Type

  • Lighting Lamp
  • Pole Bracket & Pole Body
  • Communication Device
  • Controller
  • Others

  Segmentation by Application

  • Highways & Roadways
  • Public Places
  • Railways & Harbors

  Key Companies Profiled

  • Philips Lighting Holding B.V.
  • GE Lighting Co. Ltd
  • Hubbell Incorporated
  • Cree, Inc.
  • Eaton Corporation
  • Acuity Brands
  • Sunna Design
  • Mobile Pro Systems
  • Goldspar Australia Pty Ltd.
  • Virtual Extension Ltd..

Frequently Asked Questions
 

A. The size of the global smart pole market was over $6,123.7 million in 2020 and is projected to reach $ 20,739.1 million by 2028.

A. Philips Lighting Holding B.V., GE Lighting Co. Ltd, and Hubbell Incorporated are some of the major companies operating in the global Smart pole market.

A. The Asia-Pacific region possesses great investment opportunities for investors to witness the most promising growth in the future.

A. The growth rate of the Asia-Pacific smart pole market is 18.3%.

A. Product innovations, technological advancements, and business expansions are the key strategies opted by the operating companies in this market.

A. GE Lighting Co. Ltd, Hubbell Incorporated, and Cree, Inc. are investing more on R&D practices.

1.Research Methodology

1.1.Desk Research
1.2.Real time insights and validation
1.3.Forecast model
1.4.Assumptions and forecast parameters

1.4.1.Assumptions
1.4.2.Forecast parameters

1.5.Data sources

1.5.1.Primary
1.5.2.Secondary

2.Executive Summary

2.1.360° summary
2.2.By Component trends
2.3.By Installation trends
2.4.By Hardware type trends 
2.5.By Application trends

3.Market overview

3.1.Market segmentation & definitions
3.2.Key takeaways

3.2.1.Top investment pockets
3.2.2.Top winning strategies

3.3.Porter’s five forces analysis

3.3.1.Bargaining power of consumers
3.3.2.Bargaining power of suppliers
3.3.3.Threat of new entrants
3.3.4.Threat of substitutes
3.3.5.Competitive rivalry in the market

3.4.Market dynamics

3.4.1.Drivers
3.4.2.Restraints
3.4.3.Opportunities

3.5.Application landscape
3.6.Regulatory landscape
3.7.Patent landscape
3.8.Strategic overview

4. Smart Pole Market, by Component

4.1.Hardware

4.1.1.Market size and forecast, by region, 2020-2028
4.1.2.Comparative market share analysis, 2020 & 2028

4.2.Software

4.2.1.Market size and forecast, by region, 2020-2028
4.2.2.Comparative market share analysis, 2020 & 2028

4.3.Services

4.3.1.Market size and forecast, by region, 2020-2028
4.3.2.Comparative market share analysis, 2020 & 2028

5.Smart Pole Market, by Installation

5.1.New installation

5.1.1.Market size and forecast, by region, 2020-2028
5.1.2.Comparative market share analysis, 2020 & 2028

5.2.Retrofit installations 

5.2.1.Market size and forecast, by region, 2020-2028
5.2.2.Comparative market share analysis, 2020 & 2028

6.Smart Pole Market, by Type of Hardware

6.1.Lighting Lamp

6.1.1.Market size and forecast, by region, 2020-2028
6.1.2.Comparative market share analysis, 2020 & 2028

6.2.Pole Bracket & Pole Body

6.2.1.Market size and forecast, by region, 2020-2028
6.2.2.Comparative market share analysis, 2020 & 2028

6.3.Communication Device 

6.3.1.Market size and forecast, by region, 2020-2028
6.3.2.Comparative market share analysis, 2020 & 2028

6.4.Controller 

6.4.1.Market size and forecast, by region, 2020-2028
6.4.2.Comparative market share analysis, 2020 & 2028

6.5.Others 

6.5.1.Market size and forecast, by region, 2020-2028
6.5.2.Comparative market share analysis, 2020 & 2028

7. Smart Pole Market, by Application

7.1.Highways & Roadways  

7.1.1.Market size and forecast, by region, 2020-2028
7.1.2.Comparative market share analysis, 2020 & 2028

7.2.Public Places  

7.2.1.Market size and forecast, by region, 2020-2028
7.2.2.Comparative market share analysis, 2020 & 2028

7.3.Railways & Harbors 

7.3.1.Market size and forecast, by region, 2020-2028
7.3.2.Comparative market share analysis, 2020 & 2028

8.Smart Pole Market, by Region

8.1.North America

8.1.1.Market size and forecast, by Component, 2020-2028
8.1.2.Market size and forecast, by Installation, 2020-2028
8.1.3.Market size and forecast, by Hardware Type, 2020-2028
8.1.4.Market size and forecast, by Application, 2020-2028
8.1.5.Market size and forecast, by Country, 2020-2028
8.1.6.Comparative market share analysis, 2020 & 2028

8.1.7.U.S.

8.1.7.1.Market size and forecast, by Component, 2020-2028
8.1.7.2.Market size and forecast, by Installation, 2020-2028
8.1.7.3.Market size and forecast, by Hardware Type, 2020-2028
8.1.7.4.Market size and forecast, by Application, 2020-2028

8.1.8.Canada

8.1.8.1.Market size and forecast, by Component, 2020-2028
8.1.8.2.Market size and forecast, by Installation, 2020-2028
8.1.8.3.Market size and forecast, by Hardware Type, 2020-2028
8.1.8.4.Market size and forecast, by Application, 2020-2028

8.1.9.Mexico

8.1.9.1.Market size and forecast, by Component, 2020-2028
8.1.9.2.Market size and forecast, by Installation, 2020-2028
8.1.9.3.Market size and forecast, by Hardware Type, 2020-2028
8.1.9.4.Market size and forecast, by Application, 2020-2028

8.2.Europe

8.2.1.Market size and forecast, by Component, 2020-2028
8.2.2.Market size and forecast, by Installation, 2020-2028
8.2.3.Market size and forecast, by Hardware Type, 2020-2028
8.2.4.Market size and forecast, by Application, 2020-2028
8.2.5.Market size and forecast, by Country, 2020-2028
8.2.6.Comparative market share analysis, 2020 & 2028

8.2.7.Germany 

8.2.7.1.Market size and forecast, by Component, 2020-2028
8.2.7.2.Market size and forecast, by Installation, 2020-2028
8.2.7.3.Market size and forecast, by Hardware Type, 2020-2028
8.2.7.4.Market size and forecast, by Application, 2020-2028

8.2.8.UK

8.2.8.1.Market size and forecast, by Component, 2020-2028
8.2.8.2.Market size and forecast, by Installation, 2020-2028
8.2.8.3.Market size and forecast, by Hardware Type, 2020-2028
8.2.8.4.Market size and forecast, by Application, 2020-2028

8.2.9.France

8.2.9.1.Market size and forecast, by Component, 2020-2028
8.2.9.2.Market size and forecast, by Installation, 2020-2028
8.2.9.3.Market size and forecast, by Hardware Type, 2020-2028
8.2.9.4.Market size and forecast, by Application, 2020-2028

8.2.10.Italy

8.2.10.1.Market size and forecast, by Component, 2020-2028
8.2.10.2.Market size and forecast, by Installation, 2020-2028
8.2.10.3.Market size and forecast, by Hardware Type, 2020-2028
8.2.10.4.Market size and forecast, by Application, 2020-2028

8.2.11.Spain

8.2.11.1.Market size and forecast, by Component, 2020-2028
8.2.11.2.Market size and forecast, by Installation, 2020-2028
8.2.11.3.Market size and forecast, by Hardware Type, 2020-2028
8.2.11.4.Market size and forecast, by Application, 2020-2028

8.2.12.Rest of Europe

8.2.12.1.Market size and forecast, by Component, 2020-2028
8.2.12.2.Market size and forecast, by Installation, 2020-2028
8.2.12.3.Market size and forecast, by Hardware Type, 2020-2028
8.2.12.4.Market size and forecast, by Application, 2020-2028

8.3.Asia-Pacific

8.3.1.Market size and forecast, by Component, 2020-2028
8.3.2.Market size and forecast, by Installation, 2020-2028
8.3.3.Market size and forecast, by Hardware Type, 2020-2028
8.3.4.Market size and forecast, by Application, 2020-2028
8.3.5.Market size and forecast, by country, 2020-2028
8.3.6.Comparative market share analysis, 2020 & 2028

8.3.7.China

8.3.7.1.Market size and forecast, by Component, 2020-2028
8.3.7.2.Market size and forecast, by Installation, 2020-2028
8.3.7.3.Market size and forecast, by Hardware Type, 2020-2028
8.3.7.4.Market size and forecast, by Application, 2020-2028

8.3.8.Japan 

8.3.8.1.Market size and forecast, by Component, 2020-2028
8.3.8.2.Market size and forecast, by Installation, 2020-2028
8.3.8.3.Market size and forecast, by Hardware Type, 2020-2028
8.3.8.4.Market size and forecast, by Application, 2020-2028

8.3.9.India 

8.3.9.1.Market size and forecast, by Component, 2020-2028
8.3.9.2.Market size and forecast, by Installation, 2020-2028
8.3.9.3.Market size and forecast, by Hardware Type, 2020-2028
8.3.9.4.Market size and forecast, by Application, 2020-2028

8.3.10.South Korea

8.3.10.1.Market size and forecast, by Component, 2020-2028
8.3.10.2.Market size and forecast, by Installation, 2020-2028
8.3.10.3.Market size and forecast, by Hardware Type, 2020-2028
8.3.10.4.Market size and forecast, by Application, 2020-2028

8.3.11.Australia 

8.3.11.1.Market size and forecast, by Component, 2020-2028
8.3.11.2.Market size and forecast, by Installation, 2020-2028
8.3.11.3.Market size and forecast, by Hardware Type, 2020-2028
8.3.11.4.Market size and forecast, by Application, 2020-2028

8.3.12.Rest of Asia Pacific

8.3.12.1.Market size and forecast, by Component, 2020-2028
8.3.12.2.Market size and forecast, by Installation, 2020-2028
8.3.12.3.Market size and forecast, by Hardware Type, 2020-2028
8.3.12.4.Market size and forecast, by Application, 2020-2028

8.4.LAMEA

8.4.1.Market size and forecast, by Component, 2020-2028
8.4.2.Market size and forecast, by Installation, 2020-2028
8.4.3.Market size and forecast, by Hardware Type, 2020-2028
8.4.4.Market size and forecast, by Hardware Type, 2020-2028
8.4.5.Market size and forecast, by Application, 2020-2028

8.4.6.Latin America 

8.4.6.1.Market size and forecast, by Component, 2020-2028
8.4.6.2.Market size and forecast, by Installation, 2020-2028
8.4.6.3.Market size and forecast, by Hardware Type, 2020-2028
8.4.6.4.Market size and forecast, by Application, 2020-2028

8.4.7.Middle East

8.4.7.1.Market size and forecast, by Component, 2020-2028
8.4.7.2.Market size and forecast, by Installation, 2020-2028
8.4.7.3.Market size and forecast, by Hardware Type, 2020-2028
8.4.7.4.Market size and forecast, by Application, 2020-2028

8.4.8.Africa

8.4.8.1.Market size and forecast, by Component, 2020-2028
8.4.8.2.Market size and forecast, by Installation, 2020-2028
8.4.8.3.Market size and forecast, by Hardware Type, 2020-2028
8.4.8.4.Market size and forecast, by Application, 2020-2028

9.Company profiles

9.1.Philips Lighting Holding B.V.

9.1.1.Business overview
9.1.2.Financial performance
9.1.3.Product portfolio
9.1.4.Recent strategic moves & developments
9.1.5.SWOT analysis

9.2.GE Lighting Co. Ltd  

9.2.1.Business overview
9.2.2.Financial performance
9.2.3.Product portfolio
9.2.4.Recent strategic moves & developments
9.2.5.SWOT analysis

9.3.Hubbell Incorporated. 

9.3.1.Business overview
9.3.2.Financial performance
9.3.3.Product portfolio
9.3.4.Recent strategic moves & developments
9.3.5.SWOT analysis

9.4.Cree, Inc. 

9.4.1.Business overview
9.4.2.Financial performance
9.4.3.Product portfolio
9.4.4.Recent strategic moves & developments
9.4.5.SWOT analysis

9.5.Eaton Corporation. 

9.5.1.Business overview
9.5.2.Financial performance
9.5.3.Product portfolio
9.5.4.Recent strategic moves & developments
9.5.5.SWOT analysis

9.6.Acuity Brands  

9.6.1.Business overview
9.6.2.Financial performance
9.6.3.Product portfolio
9.6.4.Recent strategic moves & developments
9.6.5.SWOT analysis

9.7.Sunna Design 

9.7.1.Business overview
9.7.2.Financial performance
9.7.3.Product portfolio
9.7.4.Recent strategic moves & developments
9.7.5.SWOT analysis

9.8.Mobile Pro Systems.

9.8.1.Business overview
9.8.2.Financial performance
9.8.3.Product portfolio
9.8.4.Recent strategic moves & developments
9.8.5.SWOT analysis

9.9.Goldspar Australia Pty Ltd 

9.9.1.Business overview
9.9.2.Financial performance
9.9.3.Product portfolio
9.9.4.Recent strategic moves & developments
9.9.5.SWOT analysis

9.10.Virtual Extension Ltd. 

9.10.1.Business overview
9.10.2.Financial performance
9.10.3.Product portfolio
9.10.4.Recent strategic moves & developments
9.10.5.SWOT analysis

Urbanization across the globe is rapidly growing with several advanced infrastructures, innovative facilities, smart technologies, etc. One such novel technology that is paving way for the development of smart cities is the smart pole.

All across the world, street lighting is increasing mainly owing to the implementation of regulatory policies that encourage energy efficacy, reduction in LED (light-emitting diode) prices, IoT (Internet of Things) convergence, and swift urbanization. Implementation of smart poles in various cities, these days, is an indication that the world is emerging and adapting to the high-tech world. A smart pole is a light pole having intelligent LED lighting, a camera, and an electric vehicle charging system.

Apart from several other lighting options, smart poles offer numerous smart city technologies, such as panic button, intercom, audio speakers, CCTV, WiFi access points and mobile equipment, banners, flags, weather stations, signs, and photovoltaic (PV) units. The technology used in a smart pole is IoT that connects electronic devices by sending and receiving data by means of internet, or by linking to the device which allows it to become part of a Smart Network, Smart Device, Smart Grid, Smart Intelligent Transportation, Smart Home, and Smart Pole.

What Factors are Driving the Growth of the Smart Pole Market?

Due to the connectivity, capillarity, and electrification of smart poles, they serve as a vital infrastructure for the development of a smart city. Poles are extremely suitable infrastructure for installing a fiber network, and they can also be used to host small cells/antennas to fulfill the needs of 5G densification. Additionally, many cities are emerging into smart cities to reduce energy consumption and avoid the production of environmental wastes, which is fueling the demand for smart poles.

More than 320 million smart poles have been installed globally. As per a report by Research Dive, the global smart pole market is expected to grow from $6,123.7 million in 2020 to $20,739.1 million by 2028. North America is the early implementer of this novel technology and is expected to take over the major share of the smart pole market by garnering a revenue of $7,671.4 million by 2028.

The smart pole market in the Asia-Pacific region is anticipated to grow rapidly with a CAGR of 18.3% from 2021 to 2028, owing to the growing number of government initiatives regarding development in cities of nations, such as China, Japan, India, and Australia. Also, implementation of strict environmental protocols, a developing automotive sector, and low labor costs associated with smart pole installation in this region are the key factors motivating the Asia-Pacific market growth.

Latest Trends in the Smart Pole Market

Market players are significantly investing in innovative product launches to fulfil the mounting demand for smart poles in smart city projects. Some of the leading players of the smart pole market are Hubbell Incorporated, GE Lighting Co. Ltd, Cree, Inc., Eaton Corporation, Acuity Brands, Mobile Pro Systems, Philips Lighting Holding B.V., Goldspar Australia Pty Ltd., Sunna Design, Virtual Extension Ltd., and others. These players are concentrated on developing strategies such as mergers and acquisitions, partnerships, novel developments, and collaborations to achieve a prominent position in the worldwide market.

For instance,

  • In February 2019, Hikvision, a provider of amazing IoT solutions and video security systems for a wide range of business verticals, launched Smart Poles for Smart Infrastructure solution. The solution makes use of leading-edge Hikvision technology to safeguard people, while keeping them associated while going for work or traveling.
     
  • In March 2021, Nokia, a Finnish multinational telecommunications, information technology, and consumer electronics company, signed a reseller agreement with ClearWorld, an alternative energy systems supplier, with an aim to sell the smart poles developed by ClearWorld initially to the U.S. cities and military centres as a part of Nokia’s smart city solution product range.
     
  • In September 2021, Chunghwa Telecom Company, Ltd., a leading technology company in Taiwan, launched smart pole integration solutions, considering the business opportunities from smart cities worldwide.

COVID-19 Impact on the Smart Pole Market

The abrupt rise of the coronavirus pandemic in 2020 has adversely impacted the global smart pole market growth. This is chiefly due to the implementation of complete lockdown worldwide to avert the spread of the virus. Also, the stoppage of smart city projects has greatly declined the demand for smart pole installations, thus reducing its market growth. However, as the global economy is recovering with the relaxation of pandemic, several smart city projects are gaining traction. This is likely to boom the smart pole market in the upcoming years.

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