smart pole enables multiple functionalities is driving the Smart Pole Market

Latest News:- Smart Pole Market: Retrofit installations is expected to lead the Type segment during 2024-2028

Technavio analyzes that the Smart Pole Market is expected to grow at a CAGR of 20.6% during 2023 and 2028. During this period, the market is also expected to show a growth of USD 19149.3 million.There are various factors that contribute to the growth of the market. Smart poles serve as multifunctional infrastructure solutions, integrating various technologies such as LED lighting, Wi-Fi, cellular connectivity, and environmental sensors in a single structure. These advanced poles enhance urban sustainability, improve connectivity, and offer cost savings through energy efficiency and shared infrastructure.

The global smart pole market is experiencing significant growth due to the increasing adoption of traffic management, surveillance systems, environmental monitoring, and smart lighting solutions. A key driver in this market is the retrofit installation segment, which involves upgrading existing conventional street light poles with smart pole technology. With an estimated 64 million smart street light poles projected to be installed worldwide by 2027, the retrofit installations segment is poised for substantial expansion. Notably, a substantial number of these existing streetlights remain conventional, providing ample opportunities for retrofitting and the integration of renewable energy retrofit installations. 

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Smart Pole Market Segmentation

• Type
  • Retrofit installations
  • New installations
• Product
  • Component
  • Software
  • Services
• Geography
  • North America
  • Europe
  • APAC
  • Middle East and Africa
  • South America

Top Performing Companies

As per our research findings, here are some of the key competitors that are leading the industry

• 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.
• Wipro Ltd.

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Research Analysis Overview

In the realm of urban infrastructure, Smart Poles are emerging as a key component of digital transformation. Leveraging technology advancements, these poles integrate IoT, connectivity solutions, and sensor networks for traffic management, public safety, and environmental monitoring. Smart Poles offer energy efficiency through renewable energy and smart lighting, while wireless communication enables real-time data analytics using AI and machine learning. Urban mobility, smart city initiatives, and cloud/edge computing further enhance their capabilities.

Market Research Overview

The Smart Pole market, a segment of the larger IT consulting and other services market, is experiencing significant growth due to urban infrastructure modernization and technology advancements. Governments worldwide are investing heavily in IT infrastructure to address the skills gap and enhance city services. IoT integration is a key technology trend driving this growth, enabling smart city applications such as traffic management, public safety, and energy efficiency. Technavio projects a robust CAGR for the global IT consulting and other services market, including the Smart Pole segment, fueled by these factors.. Industries are leveraging the products belonging to the market for customer engagement, transactional notifications, and promotional offers.

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Technavio Research
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