Global Smart Pole Market: Overview
The global smart pole market is expected to witness a significant growth attributed to various benefits over the conventional street light poles. Equipped with the smart video cameras, internet connectivity and announcement speakers, demand for smart poles continue to remain high in the global market. Manufacturers are increasingly focusing on installing smart poles attributes to growing need for monitoring and managing the traffic. Further, government in various countries are taking initiatives to encourage smart city. These factors are expected to impact growth of the global smart pole market significantly.
The report provides an in-depth insight on some important aspects of the global smart pole market while offering important analysis on the competitive landscape, important segment, growth patterns and factors driving the market growth.
Global Smart Pole Market: Dynamics
Growth of the global smart pole market is expected to be bound by various macro-economic and micro-economic factors. The global market is significantly driven by the enhanced features such as public charging point, smart video cameras, announcement speakers and internet connectivity. With the growing demand for internet connectivity, the global market is expected to witness significant growth. Increasing demand for monitoring weather and traffic management is expected to contribute towards growth of the global market.
As these poles are equipped with public charging point, the tourists can conveniently charge their devices. Moreover, government in various countries are taking initiatives regarding implementation of the smart city plan. Installation of the multifunctional smart poles further contributes towards development of the city in a smart manner. Attributed to these factors, installation of the smart poles is expected to rev up in various countries. This in turn is expected to impact growth of the global smart pole market positively.
Global Smart Pole Market: Segmentation
The global smart pole market is expected to be segmented on the basis of component, installation type, application and region. In terms of component, the global market is segmented as lighting lamp, communication devices, lamp controller, sensors and software. By installation type, the global market is segmented as new installation and retrofit installation. On the basis of application, the global smart pole market is segmented as highways & roads, railways, harbors and public places. North America is expected to represent a lucrative growth opportunities globally.
The sensors segment on the basis of components is expected to represent the highest growth in terms of revenue. By installation type, the retrofit segment is expected to record a significant growth in terms of revenue. However, the new installation segment is expected to reflect the highest CAGR in the global market. On the basis of application, the highway & roads segment is expected to register the highest revenue growth, whereas adoption of the smart poles will continue to remain high in the public places.
Global Smart Pole Market: Competition
Leading market players in the global market of smart pole include Lumca, Inc, Telensa Limited, Philips Lighting Holding B.V, Acuity Brands Lighting, Inc., Neptun Light, Inc, Maven Systems Pvt. Ltd, Ericsson Inc, Streetscape International LLC, Shanghai Sansi technology Co., LTD and Sunna Design, SA.
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