Smart Pole Market Analysis North America, Europe, APAC, South America, Middle East and Africa - US, Canada, China, Germany, UK - Size and Forecast 2023-2027

Smart Pole Market Forecast 2023-2027

The Smart Pole Market size is forecast to increase by USD 12.48 billion at a CAGR of 16.74% between 2022 and 2027. 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.

What will be the Size of the Market During the Forecast Period?

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The market is experiencing rapid growth driven by various factors, such as the demand for security cameras and traffic management systems in smart cities. However, there are also restraints, including challenges in traffic jams and accidents. Companies like Minkave, Ascend, and Omniflow are contributing to innovation in the sector alongside established players like Signify and Norsk Hydro. These companies are leveraging technologies such as 5G Base Stations and wireless sensor networks to enhance monitoring camera capabilities and improve lighting in highways & roadways and public places. Municipalities worldwide are increasingly adopting Internet of Things platforms to manage traffic and ensure security, further driving the demand.

Market Dynamics and Customer Landscape

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 cameras 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 2022 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.

Key Market Driver

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.

Significant Market Trends

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.

Major Market Challenge

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.

Market Customer Landscape

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.

Global Market Customer Landscape

Who are the Major Smart Poles Market Companies?

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:

• Acuity Brands Inc.
• Eaton Corp. Plc
• General Electric Co.
• Goldspar Australia Pty Ltd.
• Hubbell Inc.
• Itron Inc.
• Jaquar Group
• Koninklijke Philips NV
• 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.
• Wipro Ltd.

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.

Market Segmentation

This market report extensively covers market segmentation by type (retrofit installations and new installations), product (component, software, and services), and geography (North America, Europe, APAC, South America, and the Middle East and Africa). Furthermore, the report includes historic market data from 2017 to 2021. The market is witnessing substantial growth, driven by advancements in Internet of Things (IoT) technology and the rising demand for network security solutions. Companies like Minkave, Ascend, Huaticn, and Shuncom are leading the innovation in this space. Equipped with monitoring cameras, these cater to various segments like highways & roadways, enhancing traffic management and security. While Arrow and Hapco contribute to the market's growth, challenges such as network security issues and traffic congestion remain. However, with ongoing developments in 5G base stations and wireless sensor networks, the future of technology looks promising, especially in fostering the evolution of smart cities and mobility-as-a-service (MaaS) initiatives.

By Type

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.

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The retrofit installations segment showed a gradual increase in the market share of  USD 3.96 billion in 2017 and continue to grow by 2021. 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.

Regional Analysis

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North America is estimated to contribute 34% 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 smart poles for urban efficiency. For instance. in the US, the state of California is leading the installation of smart poles 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.

Market Analyst Overview

The market is fueled by various drivers, such as the increasing demand for security and traffic management solutions in public places, parking stations, and industrial parks. However, traffic jams and accidents pose significant restraints. Companies like Minkave, Ascend, and Omniflow are at the forefront of this market, along with established players like Huaticn and Norsk Hydro. These poles integrate security cameras, traffic management systems, and 5G base stations, enhancing monitoring and connectivity on highways & roadways and in smart cities. With the growing adoption of Internet of Things platforms and wireless sensor networks, municipalities worldwide are embracing technology to foster safer and more efficient urban environments.

The market is propelled by several key drivers, including the increasing demand for enhanced network security and traffic management solutions in urban environments. However, challenges such as traffic jams and accidents restrain market growth. Companies like Minkave, Ascend, and Omniflow are driving innovation in this sector alongside established players like Huaticn and Signify. These poles integrate various functionalities, including monitoring cameras for surveillance, 5G base stations for connectivity, and LED bulbs for efficient lighting. With applications in highways & roadways, public places, and industrial parks, smart poles are revolutionizing urban infrastructure and contributing to the development of smart cities.

Segment Overview

The market report forecasts market growth by revenue at global, regional & country levels and provides an analysis of the latest trends and growth opportunities from 2017 to 2027. 

• Type Outlook
  • Retrofit installations
  • New installations

• Product Outlook
  • Component
  • Software
  • Services

• Region Outlook
  • North America
    • The U.S.
    • Canada
  • Europe
    • The U.K.
    • Germany
    • France
    • Rest of Europe
  • APAC
    • China
    • India
  • South America
    • Chile
    • Brazil
    • Argentina
  • Middle East & Africa
    • Saudi Arabia
    • South Africa
    • Rest of the Middle East & Africa

Market Scope
Report Coverage	Details
Page number	166
Base year	2022
Historic period	2017-2021
Forecast period	2023-2027
Growth momentum & CAGR	Accelerate at a CAGR of 16.74%
Market growth 2023-2027	USD 12.48 billion
Market structure	Fragmented
YoY growth 2022-2023(%)	15.5
Regional analysis	North America, Europe, APAC, South America, and Middle East and Africa
Performing market contribution	North America at 34%
Key countries	US, Canada, China, Germany, 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 Group, Koninklijke Philips NV, 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 forecast period.
Customization purview	If our market growth analysis report has not included the data that you are looking for, you can reach out to our analysts and get segments customized.

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What are the Key Data Covered in this Market Research and Growth Report?

• CAGR of the market during the forecast period
• Detailed information on factors that will drive the market growth and forecasting between 2023 and 2027
• Precise estimation of the market  size and its contribution of the market in focus to the parent market
• Accurate predictions about upcoming trends and changes in consumer behavior
• Growth of the market across North America, Europe, APAC, South America, and Middle East and Africa
• Thorough analysis of the market’s competitive landscape and detailed information about Companies
• Comprehensive analysis of factors that will challenge the growth of market Companies

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