DUBLIN, December 06, 2021--(BUSINESS WIRE)--The "Global Smart Pole Market Size, Share & Trends Analysis Report by Component, by Hardware, by Installation Type, by Application, by Region, and Segment Forecasts, 2021-2028" report has been added to ResearchAndMarkets.com's offering.
The global smart pole market size is expected to reach USD 26.55 billion by 2028. It is projected to register a CAGR of 19.7% from 2021 to 2028.
Continued urbanization and the subsequent need to manage assets and infrastructure efficiently are driving the demand for smart poles. The rollout of smart city projects in different parts of the world also bodes well for the growth of the market.
According to a study conducted by the Consumer Technology Association, smart city spending across the globe reached USD 34.35 billion in 2020.
Several government bodies worldwide are pursuing initiatives to provide Wi-Fi connectivity in public areas and are deploying smart poles for the purpose. For instance, in February 2018, smart poles offering Wi-Fi connectivity were installed in Kalaburagi, India as part of the efforts to provide free Wi-Fi connectivity for citizens at selected places.
Similarly, in February 2020, smart poles featuring the latest technology were installed in London, the U.K. in Hampton as part of the government's digital transformation project to provide Wi-Fi connectivity to citizens.
Smart poles are also being installed for monitoring air quality in the wake of the deteriorating ambient air quality in urban areas in different parts of the world. Several people across the world are suffering from various disorders stemming from the deteriorating quality of the ambient air.
Smart poles can potentially play a decisive role in addressing the air quality issues in urban areas by monitoring environmental parameters, such as humidity, temperature, and concentration of fine air particles, and help in assessing the quality of ambient air.
The data provided by the smart poles can help the citizens in limiting their exposure to air pollution and the authorities in improving the quality of the ambient air quality.
The outbreak of the COVID-19 pandemic is anticipated to adversely affect the growth of the market. Construction and infrastructure development projects are confronting a slowdown owing to the lockdowns imposed in different parts of the world as part of the efforts to arrest the spread of the disease.
For instance, during the COVID 19 situation, the U.K. government had announced the shutdown of construction sites with more than 50 workers. The shutdown of construction sites thereby leads to a decrease in the demand for smart poles requirements.
Smart Pole Market Report Highlights
The hardware segment dominated the market in 2020. The infrastructure development projects that are underway worldwide are expected to drive the growth of the segment over the forecast period
The controller segment dominated the market in 2020 and is expected to witness promising growth over the forecast period. The government incentives and rebates being offered on the replacement of conventional lamp poles with smart poles as a part of smart city development projects are expected to drive the growth of the segment over the forecast period
The retrofit installation segment dominated the market in 2020. The provisioning of Wi-Fi connectivity and installation of digital signage on existing poles as part of smart city development is expected to drive the growth of the segment over the forecast period
The public places segment dominated the market in 2020. The growing preference for Public-Private Partnerships for the deployment of Wi-Fi networks at public places is expected to drive the growth of the segment
Increasing adoption of smart poles in emerging economies, such as China and India, is expected to create growth opportunities for the market in the Asia Pacific region over the forecast period
Key Topics Covered:
Smart Pole Industry Outlook
Market Segmentation and Scope
Market Size and Growth Prospects
Smart Pole Market - Value Chain Analysis
Smart Pole Market Dynamics
Market driver analysis
Need for energy-efficient pole lighting systems
Increasing government initiatives for smart cities
Market challenge analysis
Higher upfront cost compared to traditional poles
Market opportunity analysis
Use of IoT technology in smart poles
Penetration and Growth Prospect Mapping
Smart Pole Market - Porter's Five Forces Analysis
Smart Pole Market - Company Ranking, 2020
Smart Pole Market - PESTEL Analysis
Smart Pole Market - Funding Model
Smart Pole Component Outlook
Smart Pole Hardware Outlook
Smart Pole Installation Type Outlook
Smart Pole Application Outlook
Smart Pole Regional Outlook
General Electric Company
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