According to the latest report by IMARC Group, titled “Smart Pole Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2021-2026,” the global smart pole market exhibited strong growth. A smart pole is a lighting system connected to centralized command and control centers to offer real-time data. It has sensors and provides wireless connectivity and other functions for creating an intelligent environment. Its fault can be detected remotely, which assists in eliminating the need for physical examination. As a result, it finds application as charging stations for electric vehicles (EVs). Besides this, as it can be equipped with cameras for monitoring crime, unauthorized parking, and weather conditions, its demand is escalating worldwide.
We are regularly tracking the direct effect of COVID-19 on the market, along with the indirect influence of associated industries. These observations will be integrated into the report.
Global Smart Pole Market Trends:
The governing agencies of several countries are focusing on upgrading city infrastructure, which represents one of the significant factors driving the market. Additionally, the rising adoption of automated vehicles is increasing the deployment of smart poles to aid authorities in regulating vehicle parking and traffic management. This is resulting in the reduction of emissions and congestion and bolstering the market growth. These poles are used to monitor air quality, improve public safety, notify officials about street flooding, and support Wi-Fi services and payment platforms. Apart from this, the increasing need for cellular network densification for the proper functioning of cellular phones and Internet of Things (IoT) sensors are catalyzing the demand for smart poles around the world. Furthermore, its demand will experience an increase to deliver 5G wireless connectivity and improve mobile networks across the globe. Looking forward, the market is projected to expand at a CAGR of around 12% during the forecast period (2021-2026).
- On the basis of the component, the market has been segmented into hardware, software, and services.
- Based on the hardware, the market has been segregated into lighting lamps, pole brackets and pole bodies, communication devices, controllers, and others.
- The market has been analyzed on the basis of the installation type into new installation and retrofit.
- On the basis of the application, the market has been divided into highways and roadways, public places, and railways and harbors.
- Region-wise, the market has been divided into North America (the United States and Canada); Asia Pacific (China, Japan, India, South Korea, Australia, Indonesia, and others), Europe (the United Kingdom, Germany, France, Italy, Spain, Russia, and others), Latin America (Brazil, Mexico, and others); and Middle East and Africa.
- The competitive landscape of the market has been examined, with some of the key players being Acuity Brands, Inc., Cree, Inc., General Electric Company, Lumca Inc., Mobile Pro Systems, Neptun Light, Inc., Siemens AG, Signify Holding B.V., Sunna Design Inc., Telensa Limited, Wipro Limited and Zumtobel Group.
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