Smart Pole Industry Overview
The global smart pole market size is expected to reach USD 39.72 billion by 2030, registering a CAGR of 20.8% from 2023 to 2030, according to a new report by Grand View Research, Inc. The major factor contributing to the growth is the increasing demand for upgrading existing lighting infrastructure with energy-efficient lights across cities under smart city projects. Moreover, the rising pollution levels have created a need for smart poles equipped with air quality sensors and cameras to monitor the air quality and traffic. Such factors bode well for the growth of the market.
The rapid adoption of electric vehicles across the globe is expected to lead to the growing trend of integrating electric vehicle charging stations with smart poles in the forthcoming years. Numerous countries are focusing on developing their EV ecosystem and electric mobility. European countries are among the frontrunners when it comes to building EV ecosystems and adopting electric mobility. As per the European Automobile Manufacturers Association (ACEA) study, the Netherlands, Germany, and France collectively account for nearly 70% of the region’s EV charging stations. In 2020, electric vehicle sales in Europe grew by 89%, which is expected to accelerate the adoption of smart poles equipped with electric vehicle charging stations.
The growing adoption of IoT and cloud computing has enabled the addition of features such as secure communication, remote monitoring, and easy programmability. The extensive use of IoT technology in smart poles is anticipated to create new growth avenues for market players. Additionally, governments across the globe are entering into partnerships with private companies to upgrade their existing lighting networks with LED lights. Such factors are expected to contribute to the growth of the market for smart poles over the forecast period.
The outbreak of the COVID-19 pandemic has adversely affected the growth of the market due to supply chain disruptions. Several infrastructure projects have faced slowdown due to restrictions imposed to prevent the spread of the virus. However, companies are taking several initiatives to maintain the safety of citizens. For instance, ALUMAST S.A., a Polish manufacturer, developed an Anti-Covid Smart Pole that offers two functions-street lighting and touchless disinfection of hands through the built-in hand sanitizer and dispenser.
Smart Pole Market Segmentation
Grand View Research has segmented the global smart pole market based on component, hardware, installation type, application, and region:
Based on the Component, the market is segmented into Hardware, Software, and Service.
- The hardware segment dominated the market in 2022 and accounted for a share of more than 57.3% of the global revenue. Numerous smart poles installed worldwide are equipped with cameras and air quality sensors to measure the rising pollution levels. Several mobile technology providers are striking partnerships with alternative energy system providers to design and sell efficient poles that support video analytics, intelligent lighting, and Wi-Fi access points.
- The service segment is anticipated to register the fastest growth over the forecast period. Some companies in the market perform the task of installing smart poles in a facility or city and carry out the integration of different systems. Many utility companies are signing contracts with private companies to deliver smart poles featuring streetlights, traffic management systems, and air quality monitoring sensors.
Based on the Hardware, the market is segmented into Lighting Lamp, Pole Bracket Pole Body, Communication Device, Controller, and Others.
- OpenSky IoT streetlight controllers are built on the next-generation 3GPP Cat M1 and NB-IoT global telecom standards. The controllers not only provide flexible and economical lighting but also monitor the tasks carried out by users. These factors are expected to drive the growth of the segment.
- They are designed to host multiple components and devices, such as air quality sensors, cameras, Wi-Fi access points, digital billboards, electronic call boxes, and electric vehiclecharging points. Most of these IoT-enabled devices communicate through the IoT gateway. Thus, the rising demand for communication devices is expected to boost the growth of this segment.
Based on the Installation Type, the market is segmented into New Installation, and Retrofit Installation.
- The retrofit installation segment dominated the market in 2022 and accounted for a share of more than 59.3% of the global revenue, attributed to the smart city initiatives pursued by various governments. These initiatives aim to replace existing lights with energy-efficient lights and install digital signages, security cameras, Wi-Fi hotspots, and environmental monitoring systems on existing light poles.
- The new installation segment is expected to register the fastest growth over the forecast period. The growth of this segment can be attributed to the increasing government initiatives toward the installation of smart poles in developed countries such as the U.S., U.K., France, and Germany to provide better web connectivity on the streets.
Based on the Application, the market is segmented into Highways Roadways, Public Places, and Railways Harbors.
- The public places segment dominated the market in 2022 and accounted for a share of more than 40.1% of the global revenue. Smart poles offer various features such as security cameras, announcement speakers, internet connectivity, and charging points to help tourists and visitors in public spaces.
- The highways and roadways segment is anticipated to register the highest growth over the forecast period. The growing number of smart roads being developed across the globe is expected to emerge as one of the major factors driving the growth of the segment.
Key Companies Market Share Insights
The market is highly fragmented. The key players are adopting various strategies, such as new product development, RD, and strategic partnerships, to strengthen their position in the market. They are also offering software and products for smart poles as part of their efforts to establish a strong foothold in the market. Market players are particularly focusing on enhancing their product offerings in line with the evolving needs of end-users to stay competitive. For instance, in March 2021, Siklu, along with Schreder, announced the launch of SHUFFLE Wireless Backhaul, a wireless pole for smart infrastructure solutions. These smart poles provide security and safety solutions to keep public areas secured. Some of the prominent players operating in the global smart pole market are:
- 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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