Global Smart Pole Market to Grow at 16.3% During 2023-2028, Supported by Rising Focus on Smart City Development

IMARC Group’s latest report, titled “Smart Pole Market: Global Industry Trends, Share, Size, Growth, Opportunity, and Forecast 2023-2028,” finds that the global smart pole market is anticipated to grow at a CAGR of 16.3% during 2023-2028. Smart poles are lighting systems incorporated with sensors, wireless connectivity (Wi-Fi or cellular technology), and additional features to support the development of an intelligent environment. They are used to measure particulate emissions and display targeted advertisements. They can also host mobile broadband small cells, public Wi-Fi access points, and antennas to meet 5G densification requirements. Their faults can be detected remotely, eliminating the need for physical examination. They include in-built surveillance systems connected to centralized command and control centers to provide real-time data. As a result, smart poles find extensive applications as electric vehicle (EV) charging stations and can be equipped with cameras for monitoring accidents, criminal activity, illegal parking, and weather information across the globe. 

Global Smart Pole Market Trends:

The rising focus on smart city development represents one of the key factors driving market growth. Moreover, the increasing need for wireless connectivity and cellular network densification for the proper functioning of smartphones and the Internet of Things (IoT) sensors has augmented the product demand. Besides this, the rising use of smart poles to help authorities regulate vehicle parking and traffic management due to the increasing adoption of automated vehicles is another major growth-inducing factor. Additionally, the shifting focus of governments of numerous countries toward upgrading the existing city infrastructure to intelligent, connected areas is positively influencing market growth. Besides this, the escalating product adoption to improve mobile networks and deliver 5G wireless connectivity has catalyzed market growth. Apart from this, the increasing use of smart poles to monitor air quality, alert officials about street floods, enhance community safety, and support Wi-Fi services and numerous payment platforms is contributing to the market growth. Furthermore, the escalating need for better traffic and air quality management across various cities due to the growing traffic congestion and environmental concerns is driving the demand for smart poles. Other factors, including favorable government policies, rapid urbanization, technological innovations, and rising investments in infrastructure development, are also anticipated to provide a positive impact on market growth. 

Market Summary:

• Based on the component, the market has been divided into hardware, software, and services.
• On the basis of the hardware, the market has been segmented into lighting lamp, pole bracket & pole body, communication device, controller, and others.
• The market has been bifurcated based on the installation type into new installation and retrofit.
• Based on the application, the market has been categorized into highways and roadways, public places, and railways and harbors.
• Region-wise, the market has been segmented into North America (the United States and Canada), Asia-Pacific (China, Japan, India, South Korea, Australia, Indonesia, and others), Europe (Germany, France, the United Kingdom, Italy, Spain, Russia, and others), Latin America (Brazil, Mexico, and others), and the Middle East and Africa.
• The competitive landscape of the market has also been examined, with some of the key players being Bivocom, Elko Ep, Hapco Pole Products, Kesslec, KYOCERA Mirai Envision Co. Ltd (KYOCERA Communication Co. Ltd), Lumca Inc, NomoSolar, Norsk Hydro ASA, Omniflow, Shanghai Sansi Electronic Engineering Co. Ltd, Signify Holding, Sunna Design and Wipro Lighting (Wipro Limited).

Report Scope:

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