Smart Pole Market Size, Share & Industry Analysis, By Solution (Component, Software, Services), By Installation Type (New Installation, Retrofit), By Telecom Operator (Highways and Roadways, Public Places, Railways and Harbors) And Regional Forecast, 2024-2032

Smart lighting is a crucial part of smart cities. Evolution of lighting technology provided end users a comfortable environment for sustainable smart cities.

The term "smart" is used because these smart poles are capable of performing both their core purpose of light distribution and additional capabilities such as Wi-Fi, Bluetooth, charger points, and a number of other functionalities. The smart poles have effectively established themselves as a key component of the emerging country's increasing "Smart City" plan.

Smart poles are gaining popularity as a result of their multi-functionality, which allows the government and other private sector stakeholders to easily handle urban problems. Also in focus are smart poles, which are deployed using solar-powered energy generation units for their operation, allowing for the deployment of smart poles in distant places like architectural locations.

Smart poles' capacity to contain software controls, electronics, and sensors that can assist in receiving and transmitting data from the pole position to the operator location is a critical component driving smart pole demand throughout the world. The smart poles also contribute significantly to the energy-saving parameter as well as the increased degree of customer satisfaction.) Furthermore, as the demand for business automation grows, so does the use of the Smart Pole around the world. Smart poles are clever poles that can monitor air quality and identify and alert authorities to problems like street flooding. Smart poles could also be used as electric vehicle charging stations.

Market growth has been hampered by the start of the COVID-19 pandemic, which has resulted in a global economic slump. During the lockdown, however, smart poles with cameras were used in numerous nations to measure social division. For example, the smart poles were built by Vadodara Municipal Body (VMC), a municipal corporation in the Indian state of Gujarat, in 2018.

Key Market Driver -

The ever increasing growth of smart cities announcements globally and increase in the demand of saving energy is driving the growth of this market.

Key Market Restraint -

The cost of smart poles is a major restrain in the growth in the growth of smart pole market.

Key Players

Philips Lighting Holding B.V. (Netherlands), General Electric (US), Hubbell Incorporated (US), Cree, Inc. (US), Eaton Corporation (Ireland), Acuity Brands (US), Zumtobel Group (Austria), SYSKA LED (India), Neptun Light Inc. (US), Maven Systems Pvt. Ltd. (India), Lumca Inc. (Canada), Sunna Design (France), Mobile Pro Systems (US), Goldspar Australia Pty Ltd. (Australia), and Virtual Extension Ltd. (Israel) and others are some of the major players in this market.

Regional Analysis

In 2020, North America dominated the smart pole market, accounting for the majority of worldwide revenue. Over the projected period, the market is likely to benefit from the aggressive deployment of connected streetlights in the region.

Over the projection period, Asia Pacific is expected to be the fastest-growing regional market. The continuing deployment of smart poles in countries like China and India is projected to add to the regional market's expansion. In recent years, governments in a number of Asian countries have increased their investments in smart city projects.

In addition, governments in developed European countries such as France, Germany, and the United Kingdom are focusing on improving people's experiences when they are out of their homes and offices by providing them with web connectivity on the streets. The demand for Smart Poles in developed countries is increasing as a result of these government initiatives.

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Segmentation

Key Industry Developments

• In January 2019- Hikvision has announced the release of Smart Poles, a solution for smart infrastructure. These intelligent poles provide security and safety solutions for public spaces.


• In May 2020-  Sumitomo Corporation, an investment management firm, said that it has reached an agreement with the Tokyo Metropolitan Government for the trial installation and verification of the government's smart poles. Sumitomo Corporation and NEC Corporation, an information technology corporation, agreed to install two types of smart poles in Tokyo's Nishi-Shinjuku neighbourhood.