The Global Smart Pole Market size is expected to reach USD 15.8 billion by 2025, registering a CAGR of 19.0% from 2019 to 2025, according to a new study conducted by Grand View Research, Inc. Increasing government initiatives for development of smart cities is expected to be a major factor in driving the market over the forecast period. Governments around the globe are focusing on development of systems such as intelligent transportation systems, environmental monitoring systems, and intelligent advertising systems, which bodes well for market growth.
Development of advanced cellular network technologies such as Long Term Evolution and mobile broadband technologies is expected to drive product demand. Besides this, increasing popularity of public Wi-Fi networks is expected to elevate its demand. The growing trend of integrating different systems such as Automobile Number Plate Recognition (ANPR) systems, command and control solutions, and traffic management systems is also expected to keep growth prospects upbeat over the forecast period.
Various governments are entering into partnerships with private companies such as Siemens; Ericson; Cree, Inc.; and Wipro for the up-gradation of existing lighting networks in cities. In addition, these partnerships are focusing on the development of self-operated fuel stations in which smart poles are used for connecting different systems such as ANPR, smoke detectors, gas sensors, and electric vehicle chargers for enhancing the safety and features of these stations. Furthermore, rising product adoption in emergency management systems is expected to contribute significantly to smart pole market growth over the next few years.
Further key findings from the report suggest:
- Services is anticipated to emerge as the fastest-growing segment by component over the forecast period owing to increasing Public-Private Partnerships (PPP) for the development of smart poles
- The retrofit installation segment is projected to exhibit the fastest growth by 2025 as a result of growing demand for upgradation of existing lighting infrastructure
- Growing investments from government agencies such as the New Delhi Municipal Council, Brisbane City Council, and City of San Jose for the development of smart pole networks for cities is expected to drive the public places application segment over the forecast period
- Asia Pacific is expected to register the highest CAGR over the forecast period and reach a dominant position by 2025 as result of smart city initiatives in countries such as China, India, Japan, and South Korea
- Some of the major players in the market are Acuity Brands; Cree, Inc.; Eaton; Ericson; GENERAL ELECTRIC COMPANY; Siemens; Signify; Telensa Limited; Wipro; and Zumtobel Group.
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Key Topics Covered
Grand View Research has segmented the global smart pole market based on component, hardware, installation type, application, and region:
Smart Pole Component Outlook (Revenue, USD Million, 2014 – 2025)
Smart Pole Hardware Outlook (Revenue, USD Million, 2014 – 2025)
- Lighting Lamp
- Pole Bracket & Pole Body
- Communication Device
Smart Pole Installation Type Outlook (Revenue, USD Million, 2014 – 2025)
- New Installation
- Retrofit Installation
Smart Pole Application Outlook (Revenue, USD Million, 2014 – 2025)
- Highways & Roadways
- Public Places
- Railways & Harbors
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About Grand View Research
Grand View Research provides syndicated as well as customized research reports and consulting services on 46 industries across 25 major countries worldwide. This U.S.-based market research and consulting company is registered in California and headquartered in San Francisco. Comprising over 425 analysts and consultants, the company adds 1200+ market research reports to its extensive database each year. Supported by an interactive market intelligence platform, the team at Grand View Research guides Fortune 500 companies and prominent academic institutes in comprehending the global and regional business environment and carefully identifying future opportunities.
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