CAGR: 20.8%Current Market Size: USD 8.50 BillionFastest Growing Region: APAC
Largest Market: North AmericaProjection Time: 2023-2030Base Year: 2022
The global smart pole market is expected to grow from USD 8.50 billion in 2022 to USD 38.5 billion by 2030, at a CAGR of 20.8% during the Projection period 2023-2030. The increase initiatives by government mainly drives the growth of the smart pole market.
Smart poles are lighting systems that include sensors, wireless connectivity (Wi-Fi or cellular technology), and other features that contribute to the creation of an intelligent environment. They include built-in surveillance systems that are linked to centralised command and control centres to provide real-time data. These flaws can be detected remotely, eliminating the need for a physical check. They serve as electric vehicle (EV) charging stations and can be outfitted with cameras to monitor accidents, crime, unlawful parking, and weather conditions. They can also be used to display tailored advertisements and to monitor particle emissions. The increasing demand for wireless connectivity and cellular network densification for the effective operation of cellular phones and Internet of Things (IoT) sensors is one of the key drivers driving global demand for smart poles. Furthermore, the growing emphasis of many nations' governing bodies on upgrading city infrastructure to smart, connected regions is affecting market growth. Aside from that, the growing use of automated vehicles is driving the deployment of smart poles to assist authorities in regulating vehicle parking and traffic management, resulting in less congestion and pollution. These poles can also be used to monitor air quality, alert authorities about street flooding, improve public safety, and support Wi-Fi and other payment platforms. Furthermore, the demand for smart poles is expected to rise in order to supply 5G wireless connection and improve mobile networks around the world.
Sample Request: - Global Smart Pole Market
Market Dynamics:
Drivers:
Because of the growing concern over global warming and ozone layer depletion, the government has developed particular laws to minimise carbon dioxide emissions. Smart poles can also help to cut energy expenditures. The low cost of LED lighting and the high return on investment (ROI) from smart lighting appear to be the primary motivators for this system. Other features like as electric vehicle charging, wi-fi connectivity, and pollution sensors are also contributing to the system's growth. Certain capabilities, such as daylight saving and real-time monitoring, are driving up demand. Smart poles can also lower energy consumption costs. All of these components work together to drive the systems.
Restraints:
The cost of implementing this system is extremely significant. The greater infrastructure and equipment costs of this system over traditional poles are a key constraint, as street lighting is a critical public service that the government cannot compromise on. Furthermore, installing smart poles necessitates the use of a large amount of hardware and software, such as dimmers, communication devices, control systems, and sensors, all of which are prohibitively expensive for the government to purchase. This is a significant factor restricting the large-scale adoption of this method. Other considerations such as location, source, and wattage type also limit the system's expansion.
Opportunities:
For decades, advancements in communication technology have resulted in widespread economic growth in both large and small communities. The plan to introduce 5G technology and build a smart city represents a huge growth opportunity for the smart pole market. Several government efforts are being implemented in countries such as China, India, Japan, and Australia to compensate for the replacement of traditional pole systems with this new technology, which has the potential to reduce energy consumption by 40%. The design's traffic management features, such as traffic monitoring, vehicle monitoring, traffic guidance, and parking advice, can assist reduce traffic congestion and minimise accidents, providing a huge growth opportunity for the system.
Challenges:
The installation of this smart system is complicated by a limited budget. Following the Covid-19 epidemic, several governments in developed and emerging nations are trailing in infrastructure and project building due to a labour and personnel scarcity, impacting the growth of the smart pole industry. Another disadvantage of the smart pole technology is that it cannot resist strong weather conditions. The collection of dust, mist, and snow might disrupt the system's smooth operation. Many issues, including the high cost of technological integration, pose hurdles to this approach.
Segmentation Analysis:
The global smart pole market has been segmented based on offering, intsallation type, application, and region.
By Offering
The offering segment is hardware, software, and services. The hardware segment led the largest share of the smart pole market with a market share of around 41.23% in 2022. Many smart poles erected across the world are outfitted with cameras and air quality sensors to monitor rising pollution levels. Numerous mobile technology companies are collaborating with alternative energy system providers to develop and sell efficient poles that support video analytics, intelligent lighting, and Wi-Fi access points. Such collaborations serve to generate opportunities for camera and air quality sensor vendors to produce unique solutions for smart poles. For example, Nokia, a mobile technology provider, signed a reseller deal with ClearWorld, a solar lighting company, in March 2021, to sell ClearWorld's smart poles equipped with cameras and sensors to communities and military locations in the United States.
By Installation Type
The installation type segment is new installation and retrofit. The retrofit segment led the largest share of the smart pole market with a market share of around 58.90% in 2022. Due to the smart city efforts followed by various governments. These efforts aim to replace current light poles with energy-efficient light poles and to install digital signage, Wi-Fi hotspots, security cameras, and environmental monitoring systems. For example, the City Council of Essex revealed its proposal in October 2021 to replace 10,000 old-style streetlights with LED lights as part of the LED Replacement Program, which would benefit both citizens and the environment. Furthermore, governments prefer retrofitting street poles with sensor technology or upgrading them with IoT applications to make cost savings while providing equal benefits.
By Application
The application segment is highways & roadways, public places, and railways & harbors. The public places segment led the largest share of the smart pole market with a market share of around 46.78% in 2022. To assist tourists and visitors in public settings, smart poles include features such as security cameras, announcement speakers, internet connectivity, and charging stations. The use of solar-powered smart poles is also intended to encourage the construction of smart poles in public parks, beaches, and tourist destinations in order to reduce overcrowding. In May 2021, for example, Artificial Intelligence (AI)-powered smart poles were put in Portugal's Algarve region to identify whether or not the beach is fully inhabited. Furthermore, rising crime rates have pushed governments around the country to install surveillance cameras on smart poles at public parks, gas stations, and national parks.
Global Smart Pole Market- Sales Analysis.
The sale of the smart pole market expanded at a CAGR of 18.9% from 2016 to 2022.
The capacity of smart poles to prevent accidents and traffic bottlenecks, the growing demand for energy-efficient streetlights, and expanding government initiatives for the creation of smart cities all contribute to market growth. In addition, the incorporation of air quality monitoring systems, surveillance cameras, wireless sensor networks, traffic management systems, and transportation management systems in smart poles has increased demand. The increasing use of AI and IoT to improve the performance of these systems is predicted to fuel market growth. Many governments are working to modernise their towns by installing smart poles with Wi-Fi connectivity and charging stations. For example, the City of Hampton in Virginia announced in February 2021 the installation of technologically enhanced light poles as part of its digital transformation project.
Green technology, such as solar power, is used in these poles to provide electricity for Wi-Fi access and charging outlets. The smart poles are also outfitted with security cameras that transmit live video feeds to local police departments. Such measures bode well for market growth. Numerous governments are recognising the need of updating public infrastructure by using cutting-edge technologies and deploying innovative systems that can improve citizens' quality of life. Signify Holding announced the acquisition of Telensa Holding Ltd., a provider of control systems and wireless monitoring for smart cities, in July 2021. This acquisition allowed Signify Holding to serve a diverse customer base by making smart city infrastructure products affordable to municipalities.
Thus, owing to the aforementioned factors, the global smart pole market is expected to grow at a CAGR of 20.8% during the Projection period from 2023 to 2030.
Global Smart Pole Market - By Regional Analysis:
The regions analyzed for the smart pole market include North America, Europe, South America, Asia Pacific, the Middle East, and Africa. North America region dominated the smart pole market and held a 37.5% share of the market revenue in 2022.
Global Smart Pole Market - Country Analysis:
Germany's smart pole market size was valued at USD 0.61 billion in 2022 and is expected to reach USD 2.7 billion by 2030, at a CAGR of 20.9% from 2023 to 2030. The increasing use of smart pole systems in the Germany, where a huge number of projects are being done, as well as the replacement of traditional pole systems with smart pole systems to lower the load of energy consumption, will increase the market in the region.
China’s smart pole market size was valued at USD 0.66 billion in 2022 and is expected to reach USD 3.07 billion by 2030, at a CAGR of 21.2% from 2023 to 2030. Tongji University, Shanghai researchers propose a smart hybrid pole system, which is integrated with renewable energy Street Lighting Pole (SLP) and EV charging, to optimally utilise renewable energy and tackle the problem of roadside quick charging of electric vehicles (EV). Because a cloud management platform can regulate the hybrid pole energy storage system, it is simple to select whether to charge or discharge based on changing power costs. The smart hybrid pole solution promotes EV charging and the efficient use of renewable energy.
India's smart pole market size was valued at USD 0.51 billion in 2022 and is expected to reach USD 2.35 billion by 2030, at a CAGR of 21.1% from 2023 to 2030. The increased deployment of smart poles in countries such as India is expected to help the regional market's growth. The governments of many APAC countries are concentrating their efforts on smart city projects. For example, India funded USD 24.31 billion on the Smart City Mission Program in 2021 in order to deploy big data, IoT, cloud computing, and other smart systems. The continuing implementation of smart city initiatives bodes well for the regional market's growth.
Key Industry Players Analysis:
To increase their market position in the global smart pole market business, top companies focus on tactics such as adopting new technology, mergers & acquisitions, product developments, collaborations, partnerships, joint ventures, etc.
Latest Development:
Report Metrics
Report Attribute |
Details |
Study Period |
2022-2030 |
Base year |
2022 |
CAGR (%) |
20.8% |
Market Size |
8.50 billion in 2022 |
Projection period |
2023-2030 |
Projection unit |
Value (USD) |
Segments covered |
By Technique, By Application, By Form, and By Region. |
Report Scope |
Revenue Projection, competitive landscape, company ranking, growth factors, and trends |
Companies covered |
Cree, Inc., Eaton, Signify Holding, Echelon, General Electric, Siemens, Wipro Limited, Silver Spring Networks, Inc., Telensa, and Zumtobel Group. |
By Technique |
|
By Application |
|
By Form |
|
Regional scope |
|
Scope of the Report
Global Smart Pole Market By Offering:
Global Smart Pole Market By Installation Type:
Global Smart Pole Market By Form:
Global Smart Pole Market By Region:
Global smart pole market is expected to reach USD 38.5 billion by 2030.
The smart pole market is projected to have a CAGR of 20.8%.
Because of the growing concern over global warming and ozone layer depletion, the government has developed particular laws to minimise carbon dioxide emissions. Smart poles can also help to cut energy expenditures. The low cost of LED lighting and the high return on investment (ROI) from smart lighting appear to be the primary motivators for this system.
Leading market players active in the global smart pole market are Cree, Inc., Eaton, Signify Holding, Echelon, General Electric, Siemens, Wipro Limited, Silver Spring Networks, Inc., Telensa, Zumtobel Group among others.
The segments covered in the smart pole market are; offering, installation type, application, and regions.
Political Factors- Tax advantages facilitate the expansion of markets such as the smart pole sector. Furthermore, the smart pole sector will be able to preserve its competitiveness by cutting operational expenses, due to government subsidies and favourable tax rates. Additionally, corporate expenses will not be passed on to customers, resulting in attractive and competitive prices. Markets such as smart pole s will be able to expand as a result of favourable tax policies that support firm growth and development, thereby contributing to the creation of economic value for the country.
Economic Factors- Businesses, such as those in the smart pole industry, will find it easier to obtain bank loans if interest rates are reasonable. This business financing is intended to support growth and development. Business loans would also contribute significantly to the expansion and development of the sector's infrastructure. Personal loans with low interest rates may be available to people. Personal loans boost consumer spending and consumption when interest rates are low to moderate. This would increase consumer spending, sales, and market share for companies in the smart pole sector, for example.
Social Factors- The entire public is following health and wellness trends. Consumer decisions and behaviours have been influenced by the health and wellness movement. According to consumer research and behavioural evaluations, the smart pole market has introduced health-related features to its goods and incorporated health-related elements into its marketing. As health consciousness has grown, the smart pole market has partnered and implemented CSR programmes that focus not only on physical health and well-being, but also on mental and emotional well-being.
Technological Factors- Significant domestic and foreign investment is made in the country's technological R&D. The substantial investment advances industries by providing them with modern, adaptive, and efficient means of conducting business and carrying out other commercial activities. Increasing investment and research have also resulted in a higher rate of innovation. Companies benefit from innovation and development by broadening the industrial sector and acquiring a competitive advantage on the global market. Individual player modifications, such as those found in the smart pole market, also contribute to the development of significant competitive advantages.
Environmental Factors- The government is gradually turning to renewable energy for all operations and commercial activities. This is done to lower both the carbon footprint and the environmental footprint of the market. Solar energy and hydroplanes are increasingly being used for operation management and business activities by participants in the smart pole industry and adjacent sectors. To assist with manufacturing activities, the smart pole market features a small-scale, company-controlled hydro plant.
Legal Factors- The population and market of the country are diverse. There are a lot of immigrants, and the country's enterprises are all over the place. As a result, the smart pole industry has long advocated for worker diversity and set internal corporate policies to encourage it. From hiring to promoting, the corporation adheres to anti-discrimination policies in all aspects of its operations. Every employee attends diversity trainings and workshops on a regular basis to learn how to avoid racist and biassed actions that could have severe consequences. Like its competitors, the smart pole market is an equal-opportunity employer.
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