Report Ocean has released a research study titled “ Smart pole Market.” This study offers precise economic forecasts, global assessments, and country-level insights. It provides a comprehensive view of the competitive market and includes an in-depth supply chain analysis to identify significant industry changes. The study explores the current market status, anticipated future growth, technological advancements, investment opportunities, market economics, and financial data. It thoroughly examines the market and offers insights based on a SWOT analysis of the industry.
Smart pole Market is valued approximately USD 8.50 Billion in 2019 and is anticipated to grow with a healthy growth rate of more than 19.99% over the forecast period 2020-2027. Smart poles are also known as intelligent light pole which comprises of many other facilities apart than lighting including, Wi-Fi, Bluetooth, Charger points, and other many more functions. The major factor for implementation of smart pole is to give better experience to the people when they are out of their houses and offices through offering them a web connectivity on streets. The rapid growth in government initiatives regarding smart cities across the globe is escalating the demand for smart poles across the globe. For instance: In 2015, the government of India launched National Smart Cities Mission to develop smart cities across the country.
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The mission aimed towards development of 100 smart cities in India with the deadline of completion in between 2019-2023. Similarly, European commission incorporated European innovation partnership on smart cities and community’s initiative. The aim behind initiative is to improve urban life through more sustainable integrated solutions and addresses city-specific challenges from different policy areas such as energy, mobility and transport, and Information and communication technology (ICT) infrastructure. In addition, need for energy efficient pole lighting systems is the factor driving the growth of market over the forecast years. However, higher upfront cost compared to traditional poles is the factor hampering the growth of market.
Major market player included in this report are:
Philips Lighting Holding B.V.
General Electric Company
Eaton Corporation PLC
Acuity Brands, Inc.
Zumtobel Group AG
Syska LED Lights Private Limited
Virtual Extension Ltd.
Mobile Pro Systems
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- The smart pole market has experienced notable growth owing to the integration of advanced technologies into urban infrastructure, transforming traditional street lighting poles into multifunctional, intelligent assets capable of supporting various smart city applications.
- Smart poles serve as an innovative urban infrastructure element equipped with sensors, communication devices, LED lighting, cameras, environmental monitoring systems, electric vehicle charging stations, and connectivity nodes to facilitate smart city initiatives.
- These poles offer multiple functionalities, such as energy-efficient LED lighting, real-time environmental monitoring for air quality and weather conditions, surveillance and security through integrated cameras, and wireless connectivity for IoT devices.
- Cities worldwide are adopting smart poles to address challenges related to energy conservation, improve public safety and security, enhance traffic management, enable wireless connectivity, and support the deployment of smart city solutions.
- The integration of sensors and data collection capabilities within smart poles enables the collection of valuable data for various applications, including traffic flow monitoring, parking management, crowd control, and city-wide analytics.
- Challenges in the smart pole market include high initial deployment costs, interoperability issues among different systems, concerns regarding data privacy and cybersecurity, and the need for standardized frameworks for seamless integration of smart pole functionalities.
- Ongoing technological advancements, such as the utilization of AI algorithms for data analytics, the development of 5G-enabled smart poles, and innovations in energy-efficient lighting, drive the evolution and adoption of smarter and more efficient pole solutions.
- Smart poles play a crucial role in supporting the development of smart city infrastructure by enabling the deployment of future-proof, adaptable, and interconnected systems that enhance the overall quality of life for urban residents.
- The future outlook for the smart pole market is promising, with continued investments in urban infrastructure modernization and the global trend towards creating sustainable, connected, and efficient smart cities.
- As cities strive for increased efficiency, sustainability, and technological advancement, the smart pole market is poised for further growth, fostering innovation and serving as a fundamental element in the development of smart and connected urban environments.
The detailed segments and sub-segment of the market are explained below:
Highways and roadways
Railways and harbors
By installation type:
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Rest of the World
Table of Contents:
- Executive Summary
- Market Overview
- Market Analysis
- Market Size and Forecast
- Market Trends
- Market Dynamics
- Market Segmentation
- Competitive Landscape
- Competitive Scenario
- Key Players
- Regional Analysis
- Regional Market Overview
- Market Size and Forecast by Region
- Product/Service Analysis
- Product/Service Overview
- Market Size and Forecast by Product/Service
- End-User Analysis
- End-User Overview
- Market Size and Forecast by End-User
- Industry Structure
- Key Findings and Recommendations
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