Smart Pole Market Outlook 2031
The global smart pole market size was valued at USD 9.15 Billion in 2022 and is anticipated to reach USD 45.47 Billion by 2031 expand at a CAGR of 19.5% during the forecast period, 2023–2031. The growth of the market is attributed to the rising consumer base for the products along with wide expansion of digitalization worldwide.
Smart poles, also termed as intelligent light poles, are high performance poles that offer several facilities such as charger points, Bluetooth, Wi-Fi, and other. These poles are widely used in various applications especially in development projects such as ‘Smart City’ project for developing countries.
Additionally, the poles can assist the cities in determining and observing multiple activities including car exhaust detection, bus monitoring, people flow detection, intelligent hospitals & schooling, intelligent city management, and emergency rescue. Furthermore, some of the developed countries such as the U.K. and the U.S. have installed smart poles to provide web connectivity on the streets.
Some of the additional functions of the poles include digital infrastructure such as signage, weather monitoring systems, intelligent lights, EV charging, communication devices, cameras, and announcement speakers. One of the key trend of the market is the rising adoption of smart poles in developing charging facilities for electric vehicles.
For example, in the city of Essen, Germany, 15 smart poles had been installed for the purpose of electric vehicle charging point, in June 2020. The increasing demand of electric vehicles have generated the requirement for advanced EV charging infrastructure. Moreover, the adoption of smart poles in LED lights offers a key insight of the market development.
With the help of software, the light conditions can be regulated such as brightness and dimming as per the need of light conditions during day or night. The COVID-19 pandemic caused economic slowdown in the world and the market in particular in the mid-week of 2020 due to the nationwide lockdowns and travel restriction.
However, the adoption of smart poles to monitor social distancing by the authorities to prevent spread of the virus during the lockdown has been increasingly significantly. The smart poles are increasingly used by government authorities to collect data from cameras present in the city, which enable to monitor the activities in the city to observe whether people observe the restriction or not.
Smart Pole Market Trends, Drivers, Restraints, and Opportunities
- Favorable government initiatives for the development of the smart pole as part of development projects across developing countries are expected to boost the market expansion.
- Wide installation of smart poles to provide multiple monitoring functions especially by government agencies is projected to drive the market growth in the coming years.
- Increasing demand for energy efficiency lighting system for public use and rising investment for infrastructure development are likely to spur the market development in the near future.
- High cost of installation and lack of awareness among the population especially in underdeveloped countries are key restraining factors hindering the market expansion during the forecast period.
- Rising digitalization worldwide, development of new technologies, and constant research & development activities are major factors presenting huge opportunities for the market growth during the forecast period.
Scope of Smart Pole Market Report
The report on the global smart pole market includes an assessment of the market, trends, segments, and regional markets. Overview and dynamics have also been included in the report.
Smart Pole Market - Global Industry Analysis, Growth, Share, Size, Trends, and Forecast
Components (Hardware, Software, and Service), Hardware (Lighting Lamp, Pole Bracket & Pole Body, Communication Device, Controller, and Others), Installations (New Installation and Retrofit Installation), and Applications (Highways & Roadways, Public Places, and Railways & Harbors)
Asia Pacific, North America, Latin America, Europe, and Middle East & Africa
Company Share, Market Analysis and Size, Competitive Landscape, Growth Factors, and Trends, and Revenue Forecast
Key Players Covered in the Report
Acuity Brands; Cree, Inc.; Eaton; Ericson; GENERAL ELECTRIC COMPANY; Siemens; Signify; Telensa Limited; Wipro; and Zumtobel Group
Smart Pole Market Segment Insights
Hardware segment is expected to grow at a rapid pace
Based on components, the global smart pole market is divided into hardware, software, and service. The hardware segment is expected to grow at a rapid pace in the coming years and held a high market revenue share of more than 55.7% in 2020. The introduction of hardware products offering air quality sensors for monitoring the air quality is the key factor for boosting the segment in the near future.
The solution segment, however, is estimated to demonstrate a fast growth rate during the forecast period attributed to the high benefits such as reduced energy consumption and reduced maintenance cost using the poles.
Controller segment is projected to expand at a considerable CAGR
On the basis of hardware, the market is segregated into lighting lamp, pole bracket & pole body, communication device, controller, and others. The controller segment is projected to expand at a considerable CAGR owing to the high demand for the light controllers in the world. The traditional controllers are set as preprogrammed operations in smart poles.
The controller uses switches to control the lights as per the needs of the user. The controllers are used in the smart poles that are used to control the light in better organized manner as per environment, time, and traffic factors.
On the other hand, the lighting lamp is estimated to grow at substantial pace during the projected period owing to reduced expenditure of the public, security monitoring, intelligent lighting, and electric car charging. The installation of smart LED light poles in different cities across the globe is a driving factor for the market segment in the forecast period.
Retrofit installation segment is anticipated to propel at a significant rate
Based on installations, the global smart pole market is bifurcated into new installation and retrofit installation. The retrofit installation segment is anticipated to propel at a significant CAGR during the forecast period and represented a market share over 55.9% of the revenue share in 2020.
The initiatives of smart cities by the governments to install Wi-Fi hot spots, digital signage, security camera, and environment monitoring is a major factor for market growth in the near future. Meanwhile, the new installation segment is expected to account for a major market share in the near future due to constant installation of smart poles in several countries.
Public places segment is expected to contribute a considerable market share
On the basis of applications, the market is classified as highways & roadways, public places, and railways & harbors. The public places segment is expected to contribute a considerable market share during the forecast period owing to the high use of smart streetlights by a large number of countries.
As per the report of IoT Analytics GmbH connected 500,000 streetlights in the US in 2018. The increasing government policies for increasing the use of smart poles as it reduces the use of energy along with less pollution emission is a major contributing factor for the market segment.
The highways & roadways segment is estimated to gain a significant growth rate during the forecast period owing to the rising number of roads with smart technology to monitor traffic and speed limits. The poles utilizes electromagnetic wave along with radar sensors, which reduces the maintenance cost. This is expected to drive the segment growth.
North America is anticipated to constitute a key market share
In terms of regions, the global smart pole market is classified as Asia Pacific, North America, Latin America, Europe, and Middle East & Africa. North America is anticipated to constitute a key market share owing to the presence of highly advanced technology and the extensive installation of streetlights in the region.
As per the report of IoT Analytics GmbH, the number of streetlights to be installed in North America are anticipated to cross 14.4 million by 2023. The shipments of connected LED lighting, streetlights hardware, controllers, and others are anticipated to reach 9 million units by the same year.
Meanwhile, the Asia Pacific market is estimated to hold a major market share in the coming future Due to rising deployment of smart pole in different countries of the region such as India and China. Governments have formulated policies to expand the adopting of the smart pole in smart city project across various countries in the region.
The global smart pole market has been segmented on the basis of
- Lighting Lamp
- Pole Bracket & Pole Body
- Communication Device
- New Installation
- Retrofit Installation
- Highways & Roadways
- Public Places
- Railways & Harbors
- Asia Pacific
- North America
- Latin America
- Middle East & Africa
- Acuity Brands
- Cree, Inc.
- GENERAL ELECTRIC COMPANY
- Telensa Limited
- Zumtobel Group
The key market player in global smart pole market are Acuity Brands; Cree, Inc.; Eaton; Ericson; GENERAL ELECTRIC COMPANY; Siemens; Signify; Telensa Limited; Wipro; and Zumtobel Group.
These key players have adopted a series of market strategies including new product launching, entering into partnership, collaboration, and production expansion to enhance their market position and expand their consumer base. For instance, Signify, a major electronic and electrical manufacturer, introduced BrightSites smart poles in the Smart City Expo World Congress in Barcelona, Spain in January 2020.