The smart pole global market report 2024 from The Business Research Company provides comprehensive market statistics, including global market size, regional shares, competitor market share, detailed segments, trends, and opportunities. This report offers an in-depth analysis of current and future industry scenarios, delivering a complete perspective for thriving in the industrial automation software market.
Smart Pole Market, 2024 report by The Business Research Company offers comprehensive insights into the current state of the market and highlights future growth opportunities.
Market Size –
The smart pole market size has grown rapidly in recent years. It will grow from $10.3 billion in 2023 to $11.98 billion in 2024 at a compound annual growth rate (CAGR) of 16.3%. The growth in the historic period can be attributed to energy efficiency, government initiatives, safety and security concerns, smart city initiatives, community engagement.
The smart pole market size is expected to see rapid growth in the next few years. It will grow to $22.27 billion in 2028 at a compound annual growth rate (CAGR) of 16.8%. The growth in the forecast period can be attributed to renewable energy integration, electric vehicle (ev) charging, infrastructure modernization, demand for environmental monitoring, demand for public wi-fi. Major trends in the forecast period include artificial intelligence (ai) in surveillance, lidar and 3d scanning, 5g-ready infrastructure, integration with edge computing, iot sensors.
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Scope Of Smart Pole Market
The Business Research Company’s reports encompass a wide range of information, including:
- Market Size (Historic and Forecast): Analysis of the market’s historical performance and projections for future growth.
- Drivers: Examination of the key factors propelling market growth.
- Trends: Identification of emerging trends and patterns shaping the market landscape.
- Key Segments: Breakdown of the market into its primary segments and their respective performance.
- Focus Regions and Geographies: Insight into the most critical regions and geographical areas influencing the market.
- Macro Economic Factors: Assessment of broader economic elements impacting the market.
Smart Pole Market Overview
Market Drivers –
The growing number of smart roads across the globe is expected to propel the growth of the smart pole market. Smart roads refer to actual roads equipped with a smart streetlight, smart traffic lights, and other smart technologies, which provide safe and secured transportation. These roads utilize advanced communication networks, IoT sensor networks, big data, and MI/AL technologies, to gather information from traffic lights, parking meters, air quality and others. These data are further used to provide efficient traffic movement, reduce congestion, and offer secured and safe passage to people. For instance, according to the study published in Tomorrow City, an interdisciplinary research hub, in Europe, more than EUR 421 million in the development of 69 mobility projects. Therefore, an increase in the number of smart roads is expected to boost the smart pole market during the forecast period.
Market Trends –
Increasing integration of IoT enabled devices in smart pole is an emerging trend gain popularity in the smart pole market. IoT enabled devices refers to hardware such as sensors, actuators, gadgets, and appliances, that are programmed for certain applications and transmit data over the internet to other networks. The majority of the companies operating in the smart pole are integrating multiple IoT-enabled devices to increase usability and increase the capabilities of pole to carry out a wide range of activities. For instance, Signify N.V., a Netherlands-based manufacturer and distributor of electric lights and lighting fixtures launched the BrightSites smart pole, integrated with a wide range of IoT applications, connectivity, cameras, and environmental sensors.
The smart pole market covered in this report is segmented –
1) By Hardware: Lighting Lamp, Pole Bracket & Pole Body, Communication Device, Controller, Other Hardwares
2) By Installation Type: New Installation, Retrofit Installation
3) By Application: Highways & Roadways, Public Places, Railways & Harbors
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Regional Insights –
North America was the largest region in the smart pole market in 2023. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the smart pole market report include Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa.
Key Companies –
Major companies operating in the smart pole market include Signify Holding NV, Silver Spring Networks Inc., Telensa Holdings Limited, Wipro Limited, Zumtobel Group AG, Cree Inc., Eaton Corporation PLC, Echelon Corporation, General Electric Company, Siemens AG, Iram Technologies Private Limited, Efftronics Systems Private Limited, Shanghai Sansi Electronic Engineering Co. Ltd., Lumca Inc., SmartCiti Solutions Inc., Valmont Structures Private Limited, Keselec Lighting Private Limited, LEDbow Technologies Ltd., Norsk Hydro ASA, Energasia Smart Poles Sdn. Bhd., Streetscape International, American Tower Corporation, HUB Group Inc., ELKO EP sro, ENE.HUB Pty Ltd., Philips Lighting Holding B.V., General Electric Lighting Limited, Hubbell Incorporated, Schréder SA, Siklu Communication Ltd.
Table of Contents
- Executive Summary
- Smart Pole Market Report Structure
- Smart Pole Market Trends And Strategies
- Smart Pole Market – Macro Economic Scenario
- Smart Pole Market Size And Growth
…..
- Smart Pole Market Competitor Landscape And Company Profiles
- Key Mergers And Acquisitions
- Future Outlook and Potential Analysis
- Appendix
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