Smart Pole Market to be Worth $39.72 Billion by 2030: Grand View Research, Inc.

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Mar 24, 2022, 06:30 ET

SAN FRANCISCO, March 24, 2022 /PRNewswire/ -- The global smart pole market size is expected to reach USD 39.72 billion by 2030, registering a CAGR of 20.6% from 2022 to 2030, according to a new report by Grand View Research, Inc. The major factor contributing to the growth is the increasing demand for upgrading existing lighting infrastructure with energy-efficient lights across cities under smart city projects. Moreover, the rising pollution levels have created a need for smart poles equipped with air quality sensors and cameras to monitor the air quality and traffic. Such factors bode well for the growth of the market.

Key Insights & Findings from the report:

The hardware segment dominated the market in 2021. The rising demand for security cameras and air-quality sensors for traffic management and air-quality monitoring is expected to drive the growth of the segment over the forecast period.
The controller segment dominated the market in 2021 and is expected to witness promising growth over the forecast period, attributed to the growing need for upgrading existing lighting infrastructures. Various government initiatives for replacing conventional lights with LED lights under the smart development projects are expected to drive the growth of the segment.
The retrofit installation segment dominated the market in 2021. The provision 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 2021. The growing preference for smart poles with cameras in public parks and beaches to determine and prevent overcrowding of people is expected to drive the growth of the segment over the forecast period.
The increasing adoption of smart poles in emerging economies such as China and India is expected to create growth opportunities for the smart pole market in the Asia Pacific region over the forecast period.

Request a free sample copy or view report summary: "Smart Pole Market Size, Share & Trends Analysis Report By Component (Hardware, Software, Service), By Hardware, By Installation Type, By Application, By Region, And Segment Forecasts, 2022 - 2030", published by Grand View Research.

Smart Pole Market Growth & Trends

The rapid adoption of electric vehicles across the globe is expected to lead to the growing trend of integrating electric vehicle charging stations with smart poles in the forthcoming years. Numerous countries are focusing on developing their EV ecosystem and electric mobility. European countries are among the frontrunners when it comes to building EV ecosystems and adopting electric mobility. As per the European Automobile Manufacturers Association (ACEA) study, the Netherlands, Germany, and France collectively account for nearly 70% of the region's EV charging stations. In 2020, electric vehicle sales in Europe grew by 89%, which is expected to accelerate the adoption of smart poles equipped with electric vehicle charging stations.

The growing adoption of IoT and cloud computing has enabled the addition of features such as secure communication, remote monitoring, and easy programmability. The extensive use of IoT technology in smart poles is anticipated to create new growth avenues for market players. Additionally, governments across the globe are entering into partnerships with private companies to upgrade their existing lighting networks with LED lights. Such factors are expected to contribute to the growth of the market for smart poles over the forecast period.

The outbreak of the COVID-19 pandemic has adversely affected the growth of the market due to supply chain disruptions. Several infrastructure projects have faced slowdown due to restrictions imposed to prevent the spread of the virus. However, companies are taking several initiatives to maintain the safety of citizens. For instance, ALUMAST S.A., a Polish manufacturer, developed an Anti-Covid Smart Pole that offers two functions-street lighting and touchless disinfection of hands through the built-in hand sanitizer and dispenser.

Smart Pole Market Segmentation

Grand View Research has segmented the global smart pole market based on component, hardware, installation type, application, and region:

Smart Pole Component Outlook (Revenue, USD Million, 2017 - 2030)

Hardware
Software
Service

Smart Pole Hardware Outlook (Revenue, USD Million, 2017 - 2030)

Lighting Lamp
Pole Bracket & Pole Body
Communication Device
Controller
Others

Smart Pole Installation Type Outlook (Revenue, USD Million, 2017 - 2030)

New Installation
Retrofit Installation

Smart Pole Application Outlook (Revenue, USD Million, 2017 - 2030)

Highways & Roadways
Public Places
Railways & Harbors

Smart Pole Regional Outlook (Revenue, USD Million, 2017 - 2030)

North America

U.S.
Canada

Europe

Germany
U.K.

Asia Pacific

China
India
Japan

Latin America

Brazil
Mexico

Middle East & Africa

List of Key Players in the Smart Pole Market

Cree, Inc.
Eaton
Echelon
General Electric
Siemens
Signify Holding
Silver Spring Networks, Inc.
Telensa
Wipro Limited
Zumtobel Group

Check out more related studies published by Grand View Research:

Air Quality Monitoring System Market - The global air quality monitoring system market size is expected to reach USD 6.5 billion by 2025, expanding at a CAGR of 6.8% from 2019 to 2025, according to a new report by Grand View Research, Inc. There has been a significant rise in pollutants being released into the atmosphere as a result of increase in the number of automobiles and growing industrialization.
Environmental Monitoring Market - The global environmental monitoring market size is expected to reach USD 26.7 billion by 2025 at a CAGR of 9.5% over the next forecast period, according to a new study conducted by Grand View Research, Inc. Growing rate of pollution levels, supportive regulatory and political scenario, and increasing awareness regarding pollution monitoring is anticipated to drive the market through 2025.
Intelligent Transportation System Market - The global intelligent transportation system market size is expected to reach USD 42,936.1 million by 2028, registering a CAGR of 7.0% from 2021 to 2028, according to a new study by Grand View Research, Inc. Continued advances in the development of transportation networks have triggered the need for an efficient transportation system.

Browse through Grand View Research's Next Generation Technologies Industry Research Reports.

About Grand View Research

Grand View Research, U.S.-based market research and consulting company, provides syndicated as well as customized research reports and consulting services. Registered in California and headquartered in San Francisco, the company comprises over 425 analysts and consultants, adding more than 1200 market research reports to its vast database each year. These reports offer in-depth analysis on 46 industries across 25 major countries worldwide. With the help of an interactive market intelligence platform, Grand View Research Helps Fortune 500 companies and renowned academic institutes understand the global and regional business environment and gauge the opportunities that lie ahead.

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