Smart Pole Market by Offering (Component, Software, and Services), Installation Type (New Installation and Retrofit), Application (Highways & Roadways, Public Places, and Railways & Harbors), and Geography - Global Forecast to 2023
“Smart pole market expected to grow at a CAGR of 19.99% between 2017 and 2023”
The smart pole market is expected to be valued at USD 16.65 billion by 2023, growing at a CAGR of 19.99% between 2017 and 2023. The growth of this market is mainly driven by factors such as the need for energy-efficient pole lighting systems, increasing government initiatives for smart cities, and advantage in preventing traffic jams and accidents. The smart pole system has various advantages over conventional street lights such as reduced maintenance costs, real-time reports and controllability, less environmental impact, and expendable infrastructure and scalability. The smart pole could be seen as a revolution in the street pole industry and would create ample opportunities for the players operating in the field of smart devices, street light systems, internet connectivity, and communication devices in the coming years. However, the higher upfront cost of smart poles compared to traditional poles is a restraint for the smart pole market.
“Public places application expected to witness the highest growth rate during the forecast period”
Smart poles could provide various benefits such as internet connectivity, announcement speakers, and charging points to help tourists visiting the public places. It would help in reducing the infrastructure and installation cost for separate devices. Also, the use of solar-powered smart poles would enable the installation of smart poles in remote public places, such as architectural sites, without the extra cost of extending power supply to that location.
“Market in APAC likely to grow at the highest rate during the forecast period”
The smart pole market in APAC is expected to grow at the highest rate during the forecast period because of the increasing government initiatives in countries such as China, India, Japan, and Australia to expedite the replacement of traditional pole systems with smart pole systems to reduce the load of energy consumption by the street lights by 40%.
Breakdown of the profiles of primary participants:
• By Company: Tier 1 = 20 %, Tier 2 = 55%, and Tier 3 = 25%
• By Designation: C-Level Executives = 50%, Directors = 25%, and Managers = 25%
• By Region: North America = 60%, Europe = 20%, APAC = 10%, and RoW = 10%
The major players profiled in this report are as follows:
• Philips Lighting Holding B.V. (Netherlands)
• GE Lighting Co. Ltd (US)
• Hubbell Incorporated (US)
• Cree, Inc. (US)
• Eaton Corporation (Ireland)
• Acuity Brands (US)
• Zumtobel Group (Austria)
• SYSKA LED Lights Pvt. Ltd. (India)
• Mobile Pro Systems (US)
• Virtual Extension Ltd. (Israel)
• Shanghai Sansi Technology Co., Ltd. (China)
• Maven Systems Pvt. Ltd. (India)
• Goldspar Australia Pty Ltd. (Australia)
• Lumca Inc. (Canada)
• Sunna Design (France)
• Neptun Light Inc. (US)
In this report, the smart pole market has been segmented on the basis of offering, installation type, application, and geography. The market has been segmented on the basis of offering into component, software, and services. The smart pole market is further classified on the basis of installation type into new installation and retrofit. The smart pole market based on application comprises highways and roadways, public places, and railways and harbors. The study also covers the forecast of the market sizes for four main regions—North America, Europe, APAC, and RoW.
Reasons to buy the report
The report would help the market leaders/new entrants in this market in the following ways.
1. This report segments the smart pole market comprehensively and provides the closest approximations of the overall market size and those of the subsegments across different verticals and regions.
2. The report would help stakeholders understand the pulse of the market and provide them with the information on key drivers, restraints, challenges, and opportunities for the market.
3. This report would help stakeholders understand their competitors better and gain more insights to enhance their position in the business. The competitive landscape section includes competitor ecosystem, competitive leadership mapping, new product launches and developments, partnerships, and mergers and acquisitions carried out in the market.
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