Smart Pole Market was valued at USD 9.5 billion in 2021, and is anticipated to reach USD 38.5 billion in 2029, exhibiting a CAGR of 19.1% over the forecast period (2021-2029), owing to the growing application of smart pole in charging stations for electric vehicles (EVs).

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Key Drivers

Increasing emphasis of government agencies to upgrade city infrastructure stands to be one of the major factors fueling the smart pole market growth. In addition, the growing adoption of advanced technologies like the Internet of Things in smart poles will offer enormous opportunities to the market. Smart poles help in improving public safety, encouraging Wi-Fi services and payment platforms, monitoring air quality, and addressing officials about street flooding, which is fueling the market growth. The ability of smart poles to prevent accidents and traffic jams, emerging need for energy-efficient streetlights, and strategic government initiatives to encourage the development of smart cities, has stimulated the market growth. Smart poles are incorporated with the traffic management systems, surveillance cameras, air quality monitoring systems, wireless sensor networks, which helps in improving the performance of these systems, propelling the market growth. Moreover, the growing emphasis of leading players on improving their product portfolios to support smart city initiatives has stimulated the market growth. In July 2021, Signify Holding acquired Telensa Holding Ltd., a company that offers control systems and wireless monitoring for smart cities. This acquisition will allow Signify Holding to fulfil the demands of customers by making smart city infrastructure products affordable to cities.

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Components Insights

The hardware segment is estimated to hold a higher CAGR in the market over the upcoming years, owing to the growing installation of smart poles equipped with cameras and air quality sensors to monitor the pollution levels. Various leading mobile technology vendors have entered into strategic partnerships with alternative energy system providers to supply efficient poles that support intelligent lighting, video analytics, and Wi-Fi access points. For instance, in March 2021, Nokia, a leading mobile technology provider, entered into a reseller agreement with ClearWorld, a solar lighting provider, to sell ClearWorld’s smart poles gauged with cameras and sensors to U.S. cities and military bases.

Software segment is predicted to lead the market during the forecast period owing to the increasing demand for smart lighting software. The ability of software to improve the functionality of a lighting system and carry out several functions including street-alarms, real-time monitoring, dimming control, analytics and reporting, among others, which will boost the market growth.

Application Insights

The public places segment is expected to lead the smart pole market over the forecast period as it offer various features which include security cameras, better internet connectivity, and charging points to help tourists and visitors in public spaces. The growing prominence of solar-powered smart poles has bolstered their installation in beaches, public parks, and tourist sites to prevent overcrowding, which is likely to augment the market growth. For instance, in May 2021, Artificial Intelligence (AI)-powered smart poles were used in the Algarve region of Portugal to determine the occupancy of beach.

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Regional Analysis

North America holds the largest market share in the global smart pole market in 2016. The increase in the adoption rate of smart pole systems for new infrastructure projects and growth in retrofitting activities pertaining to smart poles are the main factors which are propelling the growth of the market in the region. Asia-Pacific on the other hand, is the expected to grow at the highest CAGR during the forecast period owing to the factors such as development of several smart cities in the emerging economies such as India and China in the region. Governments across various APAC countries are emphasizing on investments in smart city projects, will offer enormous opportunities for the market. For instance, in 2021, India decided to invest USD 24.31 billion in the Smart City Mission Program to deploy big data, IoT, cloud computing, and other smart systems.

Top Market Players

The report also profiles the major companies active in this field, including General Electric Company, Philips Lighting Holding B.V., Hubbell Incorporated, Cree Inc., Eaton Corporation PLC, Zumtobel Group AG, Acuity Brands Inc., Syska LED Lights Private Limited, Mobile Pro Systems, Virtual Extension Ltd.

Key Developments:

• • In 2020 – Tokyo Metropolitan Government entered into an agreement with Sumitomo Corporation to trial multi-functional 5G ‘smart poles’. NEC, which is part of the Sumitomo Corporation general trading group, will install two types of smart pole in the Nishi-shinjuku area of Tokyo. This is in line with the Tokyo Data Highway Basic Strategy, which was formulated in August 2019 and prioritises the construction of an ultra-high-speed mobile internet network in Tokyo.
  • In 2020 – Signify acquired Cooper Lighting Solutions from Eaton for USD 1.5 billion. This acquisition has helped the company to emphasize on innovation of connected lightings and systems. This is estimated to drive the revenue growth of the company in the North American market, with an aimed increase in professional revenues from 42% to 53%.

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Key questions this research would answer:
1- Is the smart pole market growing? How long will it continue to grow and at what rate?
2- What are the key drivers and restraints in the current market? What will be the impact of drivers and restraints in the future?
3- What are the regional revenue and forecast breakdowns? What are the regional hotspots for growth in the smart pole market?
4- What are the various application areas and how they are poised to grow?

The global smart pole market is segmented on the basis of offering, application and geography:

Global Smart Pole Market by Offering
• Component
• Software
• Services

Global Smart Pole Market by Application
• Highways and Roadways
• Public Places
• Railway and Harbours

Global Smart Pole Market by Region
• North America
• Europe
• Asia-Pacific
• RoW

Global Smart Pole Market Competitive Landscape
• Major Players and their Market Share Analysis
• New product launches
• Mergers and acquisitions
• Collaborations, partnerships, agreements and joint venture