Enjoy complimentary customisation on priority with our Enterprise License!
The Smart Pole Market size is forecast to increase by USD 19.14 billion at a CAGR of 16.82% between 2023 and 2028. The market's expansion hinges on various factors, notably the emergence of versatile smart poles that provide multiple functionalities. This trend is further fueled by the increasing urban population and rising concerns regarding air pollution. With the advent of smart poles integrating features such as surveillance cameras, wireless connectivity, and energy-efficient lighting, cities can address pressing challenges more effectively. Additionally, the demand for advanced infrastructure solutions to support urban growth drives the adoption of technologies. As cities seek sustainable and technologically advanced solutions, the market is poised for substantial growth in the coming years.
To learn more about this report, View Report Sample
The development of smart cities is accelerating, driven by a multitude of factors, such as the integration of wireless sensor networks and Internet of Things platforms to enhance traffic management systems and security cameras in urban areas. The involvement of governmental bodies like the Ministry of Road Transport and Highways underscores the significance of these initiatives in improving traffic junctions, reducing traffic jams, and enhancing roadway safety. Technologies like 5G Base Stations and monitoring camera segment play a pivotal role in achieving these objectives, transforming public places, personal vehicles, public vehicles and industrial parks into safer, more efficient environments. Our researchers analyzed the data with 2023 as the base year, along with the key drivers, trends, and challenges. A holistic analysis of drivers will help companies refine their marketing strategies to gain a competitive advantage.
Enables multiple functionalities, which is notably driving the market growth. Smart lighting solutions are playing an important role which is important in the intelligent transformation of cities across the world. Compared to conventional street lights, the LED lights in smart poles can save around 40% of energy. However, poles go beyond energy savings, with features such as auto-dimming that adapts light illusion according to the surrounding light. Hence, unlike conventional street light poles, smart poles have the potential to save about 50% of overall costs. Smart poles are helping cities monitor the environment, increase public and traffic safety, upgrade connectivity by providing WiFi hotspots and deliver location-based services such as smart parking and smart navigation.
Moreover, for instance, cameras installed enable real-time video monitoring that helps traffic authorities check traffic and pedestrian movement. It helps to collect data from onboard cameras and sound sensors help police departments to find specific information about crime incidents. Additionally, smart poles can identify toxic chemicals, pollen counts, or air pollution levels with the help of sensors. These features make an important component in smart city applications, thereby enabling the concept of intelligent transportation in cities. Hence, with the growing adoption of smart city concepts, the adoption is expected to grow steadily during the forecast period.
The increasing number of smart cities is the key trend in the market. Smart cities are areas that have several interconnected digital technologies. Digital technologies include solutions that support intelligent transportation. During the forecast period, smart cities are expected to help end-users of smart poles respond faster to challenges faced by urban settlements. The number of smart cities is expected to increase rapidly during the forecast period.
Moreover, smart cities will be expected to increase the demand for smart management systems such as smart poles, which are useful to analyze and efficiently use resources and improve transportation quality for a better future. Cutting-edge technologies such as cell phones, big data, and artificial intelligence enable smart poles to perform operations such as real-time video monitoring and emergency response. This is expected to make smart poles play an important part in smart cities development during the forecast period. Due to the increasing development of smart cities, the demand for smart poles is expected to rise which will boost the growth of the market in focus during the forecast period.
High costs associated with smart poles is the major challenge for the growth of the market. They are an integral part of smart cities. However, a high investment is required for the installation of smart poles. For example, the average cost of a is about USD 14,000, and the installation cost of a smart pole ranges between USD 500 and USD 1,000. This makes installation an expensive affair for governments and municipalities. This makes investment more than four times the cost associated with traditional street light poles.
However, it enables significant cost savings in the form of low energy consumption and low maintenance costs, their high installation cost is a challenge to adoption in emerging economies. As smart poles are complex in nature, the repair cost is significantly higher for smart poles. Due to this, it turns into a negative market in the global market. For the repair and installation, skilled technicians are required, which is led to a negative impact on prominent economies. Thus, the shortage of skilled personnel and the high upfront and maintenance costs associated with smart poles are expected to hinder the market growth focus during the forecast period.
The market research report includes the adoption lifecycle of the market, covering from the innovator’s stage to the laggard’s stage. It focuses on adoption rates in different regions based on penetration. Furthermore, the report also includes key purchase criteria and drivers of price sensitivity to help companies evaluate and develop their growth strategies.
Market Customer Landscape
Companies are implementing various strategies, such as strategic alliances, partnerships, mergers and acquisitions, geographical expansion, and product/service launches, to enhance their presence in the market.
ELKO EP Holding SE: The company offers smart poles with controlled brightness and dimming, wifi transmitters, weather stations, emergency buttons, and cameras.
The research report also includes detailed analyses of the competitive landscape of the market and information about 20 market companies, including:
Qualitative and quantitative analysis of Companies has been conducted to help clients understand the wider business environment as well as the strengths and weaknesses of key market players. Data is qualitatively analyzed to categorize Companies as pure play, category-focused, industry-focused, and diversified; it is quantitatively analyzed to categorize Companies as dominant, leading, strong, tentative, and weak.
The market share growth by the retrofit installation segment will be significant during the forecast period. Retrofit installations involve the upgrade of existing conventional street light poles with smart poles. The retrofit installations segment dominates the global market, as many street light poles are being upgraded to smart poles worldwide.
Get a glance at the market contribution of various segments View the PDF Sample
The retrofit installations segment showed a gradual increase in the market share of USD 4.43 billion in 2018. Existing street light poles give Retrofit installation using smart poles, this led to the growth of the retrofit installations segment of the market in focus. Regions such as Europe and Middle East Africa that have lower LED perforation are gradually upgrading their street light poles to energy-efficient smart poles, which is driving the adoption in Europe and Middle East Africa. However, developed economies have a higher street light pole-to-population ratio compared to developing and underdeveloped economies. Therefore, the demand for the retrofit installation of these is higher in developed economies than in developing economies. rapid rise in technology due to the pandemic also shifted consumer perception towards technology and innovative products in the global market. These technological innovations in the market is expected to increase the demand during the forecast period.
For more insights on the market share of various regions Download PDF Sample now!
North America is estimated to contribute 33% to the growth of the global market during the forecast period. Technavio’s analysts have elaborately explained the regional trends and drivers that shape the market during the forecast period. In 2022, The US is the major contributor to the market in North America due to the efforts of the US Department of Transportation (DOT). Additionally, the rising urban efficiency through smart city applications is driving the adoption in North America.
Moreover, the high adoption of smart poles in the North American region is owing to the awareness of the authorities about the use of these for urban efficiency. For instance. in the US, the state of California is leading the installation of this market in North America. Some major Companies such as ELKO EP Holding SE, OMNIFLOW SA, and Jaquar Group are increasing the installation of smart poles in California. The benefits offered by smart poles are helpful for the safety and security of people, which is expected to lead to an increase in demand in the North American region which in turn will boost the growth of the market during the forecast period.
The market research report provides comprehensive data (region wise segment analysis), with forecasts and estimates in "USD Billion" for the period 2024 to 2028, as well as historical data from 2018 to 2022 for the following segments
The market is experiencing significant growth, particularly in the Monitoring Camera and Highways Roadways segments. This trend is driven by the increasing demand for advanced surveillance systems and the need for efficient infrastructure management. Key players in this market include EDZCOM and Fluence, who are pioneering the development of next-generation smart poles. These poles or continental pole are not just limited to Monitoring Cameras but also serve as G Base Stations and provide lighting solutions for Parking Station, Industrial Park, and New Installation. The integration of the technology with various applications is a major market driver. OSRAM and other lighting companies are also capitalizing on this trend by incorporating energy-efficient LED lighting into smart poles. The North American Plant Lighting Market is expected to witness substantial growth due to the increasing adoption of the technology.
However, the high initial investment and complex installation process are major restraints in the growth of the Global Smart Pole Market Drivers and Global Smart Pole Market Restraints. Despite these challenges, the market is expected to continue its upward trajectory due to the numerous benefits offered by these technology. In Tampere, Finland, for instance, the city has implemented a large-scale project, which includes the installation of over 1,000 poles. This initiative aims to improve public safety, enhance energy efficiency, and provide advanced connectivity solutions. In conclusion, the market is poised for growth, with Monitoring Cameras, Highways Roadways, and various other applications driving the demand for these advanced infrastructure solutions. Despite the initial investment challenges, the benefits offered by these technology are expected to outweigh the costs in the long run.
Moreover, in the realm of technology, two companies, Shuncom and Hapco, have recently encountered network security issues. These incidents have raised concerns, as both entities specialize in innovative solutions: Shuncom in Mobility-as-a-Service (MaaS), and Hapco in advanced networking technologies. Arrow, a leading technology provider, has been engaged to address these security challenges. By leveraging Arrow's expertise, Shuncom and Hapco aim to fortify their systems, ensuring the continued reliability and security of their MaaS offerings and networking solutions. In the realm of advanced urban infrastructure, Minkave Ascend and Huaticn are leading players in the Highways & Roadways segment. Their innovations include 5G Base Station, ensuring seamless connectivity, and Smart Pole Technology, equipped with LED bulbs for energy efficiency. Despite the benefits, accidents remain a concern. To mitigate risks, these companies are integrating cutting-edge safety features into their infrastructure, making our roads safer and more technologically advanced.
Market Scope |
|
Report Coverage |
Details |
Page number |
169 |
Base year |
2023 |
Historic period |
2018 - 2022 |
Forecast period |
2024-2028 |
Growth momentum & CAGR |
Accelerate at a CAGR of 20.6% |
Market growth 2024-2028 |
USD 19.14 billion |
Market structure |
Fragmented |
YoY growth 2023-2024(%) |
16.82 |
Regional analysis |
North America, Europe, APAC, Middle East and Africa, and South America |
Performing market contribution |
North America at 33% |
Key countries |
US, China, Germany, Canada, and UK |
Competitive landscape |
Leading Companies, Market Positioning of Companies, Competitive Strategies, and Industry Risks |
Key companies profiled |
Acuity Brands Inc., Eaton Corp. Plc, ELKO EP Holding SE, General Electric Co., Goldspar Australia Pty Ltd., Hubbell Inc., Itron Inc., Jaquar India, Koninklijke Philips N.V., Lumca Inc., Mobile Pro Systems, Norsk Hydro ASA, OMNIFLOW SA, Renesas Electronics Corp., Shanghai Sansi Electronic Engineering Technology Co. Ltd., Siemens AG, Signify NV, Sunna Design SA, Valmont Industries Inc., and Wipro Ltd. |
Market dynamics |
Parent market analysis, Market forecasting, Market growth inducers and obstacles, Fast-growing and slow-growing segment analysis, COVID-19 impact and recovery analysis and future consumer dynamics, Market condition analysis for the forecast period |
Customization purview |
If our market report has not included the data that you are looking for, you can reach out to our analysts and get segments customized. |
We can help! Our analysts can customize this market research report to meet your requirements.
1 Executive Summary
2 Market Landscape
3 Market Sizing
4 Historic Market Size
5 Five Forces Analysis
6 Market Segmentation by Type
7 Market Segmentation by Product
8 Customer Landscape
9 Geographic Landscape
10 Drivers, Challenges, and Opportunity/Restraints
11 Competitive Landscape
12 Competitive Analysis
13 Appendix
Get lifetime access to our
Technavio Insights
Quick Report Overview:
Cookie Policy
The Site uses cookies to record users' preferences in relation to the functionality of accessibility. We, our Affiliates, and our Vendors may store and access cookies on a device, and process personal data including unique identifiers sent by a device, to personalise content, tailor, and report on advertising and to analyse our traffic. By clicking “I’m fine with this”, you are allowing the use of these cookies. Please refer to the help guide of your browser for further information on cookies, including how to disable them. Review our Privacy & Cookie Notice.