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Global Smart Pole Market Size, Share & Industry Trends Analysis Report By Application, By Component, By Hardware Type, By Installation Type, By Regional Outlook and Forecast, 2021 - 2027

ReportLinker
ReportLinker

The Global Smart Pole Market size is expected to reach $20. 7 billion by 2027, rising at a market growth of 18. 6% CAGR during the forecast period. The word smart is utilized because these smart poles may perform both their primary duty of light distribution as well as other functions like Wi-Fi, Bluetooth, charger points, and a variety of other features.

New York, May 05, 2022 (GLOBE NEWSWIRE) -- Reportlinker.com announces the release of the report "Global Smart Pole Market Size, Share & Industry Trends Analysis Report By Application, By Component, By Hardware Type, By Installation Type, By Regional Outlook and Forecast, 2021 - 2027" - https://www.reportlinker.com/p06273383/?utm_source=GNW
In addition, the smart poles have firmly established themselves as a major component of the developing country’s growing "Smart City" strategy.

A smart pole is a fully integrated lighting system that uses real-time systems, data, and sensors to connect information and communication technologies across many parties, such as municipalities, law enforcement, commercial businesses, transportation grids, hospitals, schools, and libraries. Intelligent city management, people flow detection, emergency rescue, car exhaust detection, intelligent schools and hospitals, and bus monitoring are all made possible by the smart pole.

Moreover, smart poles are becoming more popular as a consequence of their multi-functionality, which enables the government and other private sector organizations to readily address urban issues. Smart poles, which are placed utilizing solar-powered energy generation units for their operation, are also in the spotlight, enabling the deployment of smart poles in remote regions such as architectural settings.

A significant factor driving smart pole demand around the world is their ability to contain software controls, electronics, and sensors that can help in sending and receiving data from the pole position to the operator location. Additionally, the smart poles also provide a substantial contribution to the energy-saving parameter as well as improved customer satisfaction. Moreover, as the demand for business automation increases, so does the utilization of the Smart Pole around the world. Smart poles are ingenious poles that can analyse air quality as well as identify and inform authorities about issues such as street flooding. Electric vehicle charging stations could be built into smart poles.

The potential of smart poles to minimize accidents and traffic bottlenecks, the growing demand for energy-efficient streetlights, and expanding government initiatives for the creation of smart cities are all contributing to market expansion. In addition, the need has been fueled by the integration of air quality monitoring systems, security cameras, traffic management systems, wireless sensor networks, and transportation management systems in smart poles. The expanding use of AI and IoT to improve the effectiveness of the system is likely to propel market expansion even faster.

COVID-19 Impact

The onset of the COVID-19 pandemic has resulted in a global economic slump. The operations of a number of building and development projects were also disrupted, putting the growth of the smart pole market in jeopardy. For example, in order to stop the spread of the virus, the governments of the United States and China announced a halt to major development and infrastructure projects during the pandemic. However, as global regulations loosen, the market is likely to increase significantly throughout the forecast period. With the recent outbreak of COVID 19, governments in both developed and developing nations are seeing a slowing of infrastructure and building projects, which is impacting the smart pole market growth. The impact of COVID-19, according to the National Highways Authority of India (NHAI) and the National Highways and Infrastructure Development Corp. Ltd (NHIDCL), has resulted in a construction activity ban, as well as a shortage of laborers and construction workers, who are returning to their villages.

Market Growth Factors

Various governments are increasing smart cities projects

Various governments around the world are using smart pole technology to help them construct smart cities. For example, as part of India’s Smart Cities Mission, the City of Bhopal inaugurated the first-of-its-kind public-private partnership (PPP)-based smart poles and intelligent streetlights project in August 2019. It intended to erect 400 poles throughout the city to cover the entire region. In addition, the New Delhi Municipal Corporation (NDMC) built 55 energy-saving smart poles in Delhi’s Connaught Place to support the Smart City Mission. Air sensors, energy-saving LED lighting, and WiFi connectivity are all included in the poles. These poles’ lights can be dimmed automatically to save energy during non-peak traffic hours.

A rise in the number of environmental concerns

One of the most pressing environmental challenges in metropolitan areas is air quality control. According to the World Health Organization, seven million people die each year as a result of illnesses caused by poor air quality and pollution. Smart poles are crucial in combating urban air pollution because they can monitor a variety of environmental parameters like fine particulate matter concentrations, temperature, and humidity, to offer a comprehensive picture of an area’s overall air quality. Additionally, residents can use smart poles to obtain environmental information in order to reduce their exposure to air pollution, and city planners can utilize the data gathered to support decisions that may improve urban air quality.

Market Restraining Factors

Massive costs may hamper the market growth

The high cost of technology integration is one of the obstacles to market growth. Due to this, countries grappling with the problem of poor economic conditions still lag behind in the adoption of modern technologies like smart poles. As a result, producers should make smart poles more widely available in order to improve government acceptability. According to a report in The Times of India, the Indore Municipal Corporation plans to build 800 smart poles and 70,000 LED lights across the city, with an estimated cost of US$ 3 billion for the project. When compared to ordinary street lights, the cost of installing smart poles is substantially higher.

Application Outlook

Based on Application, the market is segmented into Public Places, Highways & Roadways, and Railways & Harbors. The Highways & Roadways segment collected a significant revenue share of the Smart Pole Market in 2020. This is attributed to the increasing number of smart roads being built around the world. SmartLife poles are being installed on hairpin bends and steep turns in nations like India to prevent accidents on blind turns. In addition, electromagnetic waves and radar sensors are used by these poles to measure vehicle speeds and warn drivers of cars approaching from the opposite direction.

Component Outlook

Based on Component, the market is segmented into Hardware, Software, and Services. Based on Hardware Type, the market is segmented into Controller, Lighting Lamp, Pole Bracket & Pole Body, Communication Device, and Others. The Services segment held a promising revenue share of the Smart Pole Market in 2020. Some companies on the market are in charge of establishing smart poles in a facility or city, as well as integrating various technologies. In addition, many utility providers are partnering with private companies to offer smart poles with lamps, traffic management systems, and air quality sensors.

Installation Type Outlook

Based on Installation Type, the market is segmented into Retrofit, and New. In 2020, the Retrofit installation segment garnered the maximum revenue share of the Smart Pole Market. This is owing to various governments’ smart city projects. Prevailing lights would be replaced with energy-efficient lights, and digital signage, Wi-Fi hotspots, security cameras, and environmental monitoring systems would be installed on existing light poles. The City Council of Essex, for example, stated in October 2021 that it would substitute 10,000 old-style streetlights with LED lights as part of the LED Replacement Program, which would help both inhabitants and the environment. Furthermore, governments choose to refit street poles with sensor technology or upgrade them with IoT applications to save money while gaining the same benefits.

Regional Outlook

Based on Regions, the market is segmented into North America, Europe, Asia Pacific, and Latin America, Middle East & Africa. In 2020, North America emerged as the dominating region in the Smart Pole Market by collecting the maximum revenue share. In addition, the region would exhibit a similar trend even during the forecasting period. The high growth of the regional market is attributed to the increasing deployment of connected lighting in the region. Several communities around the United States have taken steps to deploy AI-powered smart poles that help citizens and business owners in emergency circumstances. For example, the city of Coral Gables in the United States announced in July 2021 that it had installed an AI-powered smart pole from Ekin Spotter, a company that offers advanced data analysis capabilities to help residents and business owners in an emergency and improve traffic management capabilities.

The market research report covers the analysis of key stake holders of the market. Key companies profiled in the report include Eaton Corporation PLC, General Electric (GE) Co., Siemens AG, Signify N.V., Itron, Inc., Wipro Limited, Zumtobel Group AG, Acuity Brands Lighting, Inc., and Hubbell Incorporated.

Recent Strategies Deployed in Smart Pole Market

Nov-2020: Siemens Mobility signed an agreement with ASFiNAG, the Austrian highway network operating authority. Under this agreement, Siemens would provide its cooperative intelligent transport system (C-ITS) to ASFiNAG.

Jun-2020: Siemens Mobility came into a partnership with EarthSense, an entity that develops ultra-compact, autonomous, teachable robots for crop breeders, scientists, and growers. Through this partnership, the two entities would offer the Zephyr air quality measurement system for traffic management applications. By completely integrating the Zephyr air quality sensor with the traffic signal controller and traffic management system, end-to-end air quality can be assessed and monitored in real-time. This would enable authorities to make beneficial and time-bounded interventions through Siemens Mobility’s Stratos traffic management system, deploying strategies based on reliable pollution data and existing air quality levels.

Jun-2020: Signify formed a partnership with the New York Power Authority (NYPA). Following this partnership, the two entities would support Smart Street Lighting NY. Together, Signify would offer connected lighting systems to benefit the people in the towns and cities of New York above and beyond pure illumination. With the joint vision of these two entities, communities can enhance light quality, produce substantial energy savings, and enhance citizen safety and wellbeing utilizing cutting-edge technologies.

Oct-2019: Eaton Lighting formed a partnership with Telensa, the world leader in smart streetlight controls and smart city applications. Following the partnership, the two companies would work together to provide connected solutions for outdoor LED lighting and related smart city applications. In addition, the partnership aimed to accelerate the deployment of integrated lighting, control, and smart city solutions that are easy to deploy, significantly scalable, and provide long-term value to utilities, cities, and Departments of Transport.

Oct-2019: Telensa rolled out Urban IQ, a future-proof, open solution developed to connect various sensors utilizing smart streetlight infrastructure and visualize the data collected. Moreover, Urban IQ was developed to help cities implement sensors and to assist any future smart city strategy. The three primary aspects of the Urban IQ system’s adaptability are the Sensor Hub, Dashboard, and Sensors from third-party vendors.

Jun-2019: Signify introduced BrightSites smart pole to turbocharge cities’ smart city infrastructure. Through this launch, the company aimed to accelerate smart city applications to fulfill modern connectivity requirements. The smart pole can support a wide range of IoT applications, such as sensors and cameras for environmental monitoring and improved security features like incident detection. It also includes dimmable, energy-efficient LED lighting that maintains the urban environment’s integrity.

Nov-2018: Wipro Lighting came into a partnership agreement with Schreder, a Belgium-based global lighting solutions firm. Following the partnership, Wipro Lighting aimed to market its smart and connected outdoor lighting products and solutions in India. This partnership would deliver the patented technology and products of Schreder including Smart Streetlights, Smart Poles, expertise to boost smart cities in India and fulfill the premium lighting requirements of urban India.

Aug-2018: Siemens took over Mendix, the popular low-code application development platform. Following the acquisition, Siemens aimed to enhance its wide Digital Enterprise and MindSphere IoT offering, with cloud domain expertise, cloud-agnostic platform solutions, and highly trained people.

Sep-2017: Philips Lighting, a subsidiary of Signify Holding, partnered with American Tower Corporation, specializing in wireless infrastructure. Under this partnership, the two companies expedite the digital transformation of urban spaces and the deployment of smart city services in the United States. This partnership would integrate Philips Lighting’s energy-efficient with connected LED street lighting with American Tower’s shared in order to infrastructure expertise accelerate a city’s ability to implement modern technologies that enhance public safety and civic services.

Scope of the Study

Market Segments covered in the Report:

By Application

• Public Places

• Highways & Roadways

• Railways & Harbors

By Component

• Hardware

o Controller

o Lighting Lamp

o Pole Bracket & Pole Body

o Communication Device

o Others

• Software

• Services

By Installation Type

• Retrofit

• New

By Geography

• North America

o US

o Canada

o Mexico

o Rest of North America

• Europe

o Germany

o UK

o France

o Russia

o Spain

o Italy

o Rest of Europe

• Asia Pacific

o China

o Japan

o India

o South Korea

o Singapore

o Malaysia

o Rest of Asia Pacific

• LAMEA

o Brazil

o Argentina

o UAE

o Saudi Arabia

o South Africa

o Nigeria

o Rest of LAMEA

Companies Profiled

• Eaton Corporation PLC

• General Electric (GE) Co.

• Siemens AG

• Signify N.V.

• Itron, Inc.

• Wipro Limited

• Zumtobel Group AG

• Acuity Brands Lighting, Inc.

• Hubbell Incorporated

Unique Offerings

• Exhaustive coverage

• Highest number of market tables and figures

• Subscription based model available

• Guaranteed best price

• Assured post sales research support with 10% customization free
Read the full report: https://www.reportlinker.com/p06273383/?utm_source=GNW

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