Smart Pole Market Analysis by Installation Type (New Smart Pole Installation, Retrofit Smart Pole Installation), by Component (Smart Pole Software, Smart Pole Hardware), by Application - Global Forecast 2022-2032

Global Smart Pole Industry Outlook (2022-2032)

The global smart pole market was valued at US$ 8 Bn in 2021, and is expected to increase at a whopping CAGR of 21% during the 2022-2032 forecast period. This industry is projected to reach a market size worth US$ 65.12 Bn by 2032.

During the end of 2022, this market observed a rise in their growth and is thus can be expected to reach a market valuation of US$ 65.12 Bn by 2022. Smart poles can prevent traffic jams and accidents, as well as the growing need for energy-efficient streetlights and government initiatives for developing smart cities. This is what accounts for the market growth.

Demand Analysis of Smart Poles 2015-2021 vs. Market Outlook 2022-2032

According to Fact.MR- a market research and competitive intelligence provider- demand for smart poles accelerated at a 15% CAGR between 2015 and 2021. But the smart poles that integrate air quality monitoring systems, security cameras, wireless sensor networks, traffic management systems, and transport management systems have increased demand. Growth is further expected to be accelerated by adoption of AI and IoT to improve performance.

The outbreak of COVID-19 has resulted in an economic slowdown in a number of countries. Many construction and development projects were also put on hold, which negatively impacted the growth of the smart pole market. During the pandemic, the U.S. and Chinese governments halted their construction and infrastructure activities to arrest the spread of the disease. In spite of these restrictions, the market is forecast to see strong growth during the forecast period as restrictions are loosened worldwide.

In different countries, governments are looking into providing smart poles with Wi-Fi access and charging points for citizens to improve the quality of life. A number of governments are realizing the importance of upgrading public infrastructure in order to improve the quality of life for citizens. They are constantly looking for ways to improve technologies under smart cities. All these factors together will bode well for the growth of the market and thus it is expected that this market will grow by 1.4x during the forecast period.

What are the specific drivers of the Smart Pole Market?

Growing Environmental Concerns Boosting Adoption of Smart Poles

Air quality management is one of the growing environmental issues in urban areas. Each year, seven million people die from illnesses caused by poor air quality and air pollution, according to the World Health Organization. Smart poles play an important role in solving the problem of urban air pollution, as it can monitor several environmental factors, including fine particulate matter concentrations, temperature, and humidity, to provide a complete picture of the overall air quality in an area.

Furthermore, citizens can access environmental information via smart poles in order to limit their exposure to air pollution, and city planners can use gathered data to support decisions that may improve urban air quality. The government is increasingly emphasizing the use of energy-efficient lighting to enhance its existing infrastructure.

In June 2021, Cochin Smart Mission Ltd. (CSML) announced its Smart Mission project, which involves replacing existing streetlights with energy-efficient ones controlled remotely. As part of the project, CSML hopes to install 3,000 streetlights, including those on connected roads. Furthermore, many municipalities are implementing energy-efficient lighting programs to upgrade their existing lighting infrastructure.

Implementation of Latest Technologies to Accelerate Market Growth

Governments are recognizing the importance of upgrading public infrastructure by deploying innovative systems and adopting the latest technologies. During smart city projects, they are constantly identifying new ways to improve technologies. Numerous companies are working to expand their product offerings to meet the needs of smart cities around the world.

Hence, the smart pole market is driven by the infrastructure for smart cities coupled with Internet of Things (IoT) platforms to monitor city infrastructures, manage traffic flows, and monitor water and air quality. In February 2019, the Indian government decided to erect smart poles across all of its Smart Cities.

LED lighting systems, CCTV cameras, and environmental sensors will be integrated into the smart pole, providing information pertaining to temperature, pollution levels, Wi-Fi routers, etc. It will also be connected to the police command control center.

Country-wise-Analysis

How will Smart Poles Sales fare in North America?

North America is projected to account for a revenue share of over 31% in 2022. As connected streetlights are deployed rapidly in the region, new growth opportunities should arise. In the U.S., several cities have implemented smart poles powered by artificial intelligence to assist residents and business owners during emergencies.

The U.S. announced in July 2021 that Coral Gables had installed a smart pole with artificial intelligence. The pole was provided by Ekin Spotter, which offers next-generation data analysis capabilities for emergency and traffic management. Such factors are significant to call for growth of the regional market.

What will be the Market Scope in the APAC Region?

During the forecast period, growth in Asia Pacific is forecast to be the fastest. Smart pole deployment is expected to grow the regional market in countries such as China and India. Smart city projects are being invested in by governments of different APAC countries. A CAGR of 19% is projected for the Asia Pacific market.

To deploy big data, IoT, cloud computing, and other smart systems, India invested USD 24.31 billion in the Smart City Mission Program in 2021. With the continued implementation of smart city projects, the regional market is expected to grow.

By 2025, the APAC is expected to account for 40 percent of the global addressable market growth for smart city projects, or USD 800 billion, according to UBS's "Smart Cities: Shifting Asia" report.

Category-wise Insights

What can be expected from the controller segment during the forecast period?

The controllers are expected to dominate the market in 2022 with a revenue share of over 30%. By analyzing parameters such as occupancy, temperature, and amount of natural light, smart pole technology manages light and other features efficiently. There are numerous companies dedicated to improving connected lighting technology.

Tvilight, a wireless lighting controller provider, announced in March 2021 that its outdoor light controller portfolio now includes OpenSky IoT devices. With OpenSky IoT street light controllers, you can take advantage of the next-generation 3GPP Cat M1 and NB-IoT worldwide telecommunication standards. In addition to providing flexible and economical lighting, the controllers also monitor the users' actions. The growth of the segment will be driven by these factors.

What will drive the Retrofit Installation Segment?

Various governments' smart city initiatives are expected to drive the highest revenue share of over 60% for the retrofit installation segment in 2022.  Existing lights will be replaced with energy-efficient lights, and security cameras, Wi-Fi hotspots, and environmental monitoring systems will be installed on existing light poles.

Essex City Council, for instance, announced in October 2021 that it would replace 10,000 old-style street lamps with LED lights under a new LED Replacement Program that will benefit residents and the environment. Furthermore, governments prefer retrofitting street poles with sensors or upgrading them with IoT applications to achieve cost savings and benefits.

What will be the outlook of the Hardware Segment?

In 2022, the hardware segment is expected to hold a revenue share of over 58%. Around the world, there are a number of smart poles equipped with cameras and air quality sensors that measure pollution levels. The mobile technology industry is partnering with alternative energy system providers to design and sell poles that support video analytics, intelligent lighting, and wireless access points.

The development of innovative products for smart poles can be made possible through such partnerships with cameras and air quality sensors. On March 20, 2021, Nokia, a mobile technology company, announced a reseller agreement with ClearWorld, a solar lighting company, to supply U.S. cities and military bases with ClearWorld's smart poles equipped with cameras and sensors.

Competitive Landscape

There is a high degree of fragmentation in the market. As a result, key players use various strategies to strengthen their positions in the market, including new product development, research, and development, and strategic partnerships. As part of their efforts to establish a strong presence, they are also offering software and products for smart poles. To remain competitive, the key focus for market players is to enhance their product offerings to meet the evolving needs of end users.

• Siklu and Schreder launched a wireless backhaul service for smart infrastructure solutions in March 2021, called SHUFFLE Wireless Backhaul. Smart pole technologies provide security and safety to public spaces.
• Signify completed the acquisition of Cooper Lighting Solutions from Eaton in March 2020 for USD 1.5 billion. This acquisition was part of the company's plan to innovate connected lighting and systems. The company expects that this will increase its professional revenues from 42% to 53% in the North American market.

Report Scope

Key Segments Covered in the Smart Pole Industry Survey

• By Installation Type :

  • New Smart Pole Installation
  • Retrofit Smart Pole Installation

• By Application :

  • Smart Poles for Highways & Roadways
  • Smart Poles for Public Places
  • Smart Poles for Railways & Harbors

• By Component :

  • Smart Pole Software
  • Smart Pole Hardware
    • Lighting Lamp
    • Pole Bracket & Pole Body
    • Communication Device
    • Others