Global Smart Pole Market Grows at a Staggering CAGR of 19.5%

Introduction

Smart street poles can modify the luminance and dimming based on the time of day and ambient conditions, contributing significantly to energy conservation and environmental protection when coupled with LED light sources. Digital poles aid in monitoring traffic flow, pedestrian crossings, parking spaces, seismic activity, and climatic fluctuations. In the event of an issue, the smart poles can be administered remotely and communicate with the central control quickly and easily. They can also serve distinct functions, such as connecting weather stations, emergency buttons, cameras, a backlit information display, various sensors, or a Wi-Fi transmitter to enhance comfort, awareness, and, most importantly, safety on the streets of a smart city. Smart poles can improve the quality of life for citizens, enhance operational efficacy, and cut costs.

Market Dynamics

Rising Need for Energy-Efficient Pole Lighting Systems Drives the Global Market

Various governments prioritize enhancing their extant lighting infrastructures by implementing energy-efficient lighting systems. Integrating smart poles with software such as command and control solutions has enabled connecting smart poles to other smart city infrastructure, such as environmental sensors and cameras. The command-and-control solutions enable city officials to monitor and regulate lighting infrastructure. Therefore, the increasing demand for energy-efficient lighting solutions is anticipated to support the market's expansion. Globally, numerous models for executing energy-efficient street lighting initiatives, such as public-private partnerships, have been developed, contributing to the expansion of the market. Diverse energy providers emphasize the development of programs to supplant traditional light poles with smart poles. In addition, the growing investment in LED street lighting programs will drive demand for smart poles during the forecast period.

Use of IoT Technology in Smart Poles Creates Tremendous Opportunities

The widespread use of IoT technology in smart poles is expected to generate new growth opportunities for market participants. Various governments are collaborating with private corporations to modernize city lighting networks. The partnerships also intended to develop self-operated fuel stations that use smart poles to connect various safety-enhancing systems, including automatic number plate recognition systems, smoke detectors, gas sensors, and electric vehicle chargers. It is also anticipated that the increasing use of LED illumination and solar panels in energy management systems will have a significant impact on the growth of the smart poles market over the next few years.

Multiple information technology (IT) providers are forming alliances with smart city authorities and original equipment manufacturers (OEMs). These partnerships intend to incorporate smart poles with components including Radio-Frequency Identification (RFID) readers, signage boards, touchpads, interactive kiosks, and variable message signage boards. This provides growth opportunities for market participants and encourages them to concentrate on creating a smart pole network.

Regional Analysis

North America is the most significant global smart pole market shareholder and is anticipated to exhibit a CAGR of 16.91% during the forecast period. North America is characterized by developed economies such as the United States and Canada. The organizations in the region have exhibited early and swift adoption of innovative smart pole systems. Additionally, it is estimated that the growing number of regional private infrastructure companies will contribute to expanding the regional market. Adding to the regional market's growth is the region's ongoing research and development for the introduction of smart poles furnished with electric vehicle charging systems. In addition, the United States is a pioneer in using smart pole systems because of its smart city projects. It has been a global leader in smart city initiatives involving parking, environmental monitoring, streetlights, automobile traffic monitoring, and public safety. It is projected that all of these aspects will contribute to the growth of the country's market over the forecast period.

Asia-Pacific is estimated to exhibit a CAGR of 20.8% over the forecast period. Increasing government initiatives in nations like China, Japan, India, South Korea, and Australia to replace conventional pole systems with smart poles to reduce streetlights' energy consumption is expected to contribute to the regional market's growth. In addition, the increasing deployment of Automatic Number-Plate Recognition (ANPR) systems for traffic control in countries such as China, India, Indonesia, Vietnam, and South Korea is propelling market expansion in the region. China has the biggest electric vehicle market in terms of the total amount of vehicles on the road. Therefore, the use of smart poles equipped with infrastructure for charging electric vehicles is growing. It is also estimated that this will increase the demand for advanced smart pole systems and spur market expansion in the nation.

Key Highlights

• The global smart pole market was valued at USD 9,211.76 million in 2022. It is estimated to reach USD 45,777.67 million by 2031, growing at a CAGR of 19.5% during the forecast period (2023–2031).
• Based on components, the global smart pole market is bifurcated into hardware, software, and services. The hardware segment is the most significant contributor to the market share and is anticipated to exhibit a CAGR of 19.0% over the forecast period.
• Based on hardware, the global smart pole market is divided into lighting lamps, pole brackets and pole bodies, communication devices, controllers, and others. The controller segment dominates the global market and is projected to exhibit a CAGR of 19.0% over the forecast period.
• Based on installation type, the global smart pole market is bifurcated into new installation and retrofit installation. The retrofit installation segment is the most significant contributor to the market and is anticipated to exhibit a CAGR of 19.8% during the forecast period.
• Based on application, the global smart pole market is segmented into highways and roadways, public places, and railways and harbors. The public places segment owns the highest market and is expected to grow at a CAGR of 20.01% during the forecast period.
• North America is the most significant global smart pole market shareholder and is anticipated to exhibit a CAGR of 16.91% during the forecast period.

Competitive Players

1. General Electric Company
2. Silver Spring Networks Inc.
3. Echelon
4. Siemens AG
5. Lumca
6. Signify Holdings
7. Telensa Limited
8. Wipro
9. Cree Inc.
10. Zumtobel Group.

Recent Developments

• March 2024 - British mobile and broadband provider Virgin Media O2 (VMO2) and its partner Liberty Global have unveiled their newest project, the Smart Pole Trial. To increase the capacity and coverage of their mobile network, VMO2 has installed 4G and 5G smart poles on top of their existing fiber network as part of the trial. The poles are more compact than standard mobile masts, allowing for speedy installation without the need for planning approval or other red tape.
• March 2024 - The 12-month pilot initiative in Fishermans Bend announced that they would activate new smart poles that feature weather sensors, transport sensors, LoRaWAN connectivity, and smart lighting. As part of the "gateway" to the General Motors Holden (GMH) project in Fishermans Bend, the state government and the city of Melbourne are collaborating to test eight smart poles on Turner and Graham streets.

Segmentation

1. By Component
   1. Hardware
   2. Software
   3. Services
2. By Hardware
   1. Lighting Lamp
   2. Pole Bracket and Pole Body
   3. Communication Device
   4. Controller
   5. Others
3. By Installation Type
   1. New Installation
   2. Retrofit Installation
4. By Applications
   1. Highways and Roadways
   2. Public Places
   3. Railways and Harbors