Smart Poles Market by Type of Hardware (Lighting Lamp, Pole Bracket and Pole Body, Communication Device, Controller, and Others), Products (Hardware, Software, and Services), Installation (New Installation and Retrofit), Application (Highways and Roadways, Public Places, and Railways and Harbors), and Regional Analysis (North America, Europe, Asia-Pacific, and LAMEA): Global Opportunity Analysis and Industry Forecast, 2022-2031

Global Smart Poles Market Analysis

The Global Smart Poles Market Size was $7,063.4 million in 2021 and is predicted to grow with a CAGR of 17.9%, by generating a revenue of $35,921 million by 2031.

Global Smart Poles Market Synopsis

The ability of smart poles to help in preventing accidents and traffic jams, the growing need for energy-efficient lighting, and rising government initiatives for the development of smart cities are estimated to boost the smart poles market growth in the upcoming years. Furthermore, the integration of air quality monitoring systems, security cameras, wireless sensor networks, traffic management systems, and transportation management systems in smart poles have increased their demand in the market. The integration of renewable energy solutions such as solar panels, wind turbines, and energy storage systems into smart poles has become a trend in the industry. These smart poles are designed to provide both lighting and renewable energy solutions, reducing the dependency on traditional power sources and promoting sustainability. These factors are anticipated to boost the smart poles market size in the upcoming years.         

However, one of the major disadvantages of smart poles is their high cost. Also, the installation and maintenance costs of smart poles are high, which makes it difficult for small-scale organizations to implement them. Extreme weather conditions, on the other hand, might disrupt the operation of smart poles due to the accumulation of dust, moisture, and snow. Moreover, the high cost of technological integration is hindering the growth of the smart pole industry. This limits their adoption among smaller cities and rural areas, where budget constraints are a major concern, which is anticipated to hamper the smart poles market share during the forecast period.

The smart poles market is expected to grow significantly in the upcoming years due to the increase in need for reducing energy consumption, improving public safety and security, enhancing traffic management, and providing access to various communication services like Wi-Fi and 5G. In addition, the integration of various technologies such as the Internet of Things (IoT), artificial intelligence (AI), and renewable energy sources into smart poles is driving the growth of the market. Rise in urbanization and the need to manage infrastructure are driving governments of various countries to invest in smart city initiatives. Furthermore, the growing infrastructure for smart city projects and Internet of Things platforms to monitor municipal infrastructure, and manage traffic flows, parking, water, and air quality is propelling the market growth. These factors are expected to create significant growth opportunities for the key players operating in the smart poles market.

According to regional analysis, the North America smart poles market accounted for the highest market share in 2021. Governments in North America are providing support for the deployment of smart poles through funding and tax incentives, which is helping to spur growth in the market. The growth of the North America smart poles market is being driven by a combination of factors, including an increase in demand for smart city initiatives, technological advancements, support, and the growing demand for sustainable energy solutions.

Smart Poles Overview

Smart poles are a combination of traditional street lighting poles and various communication technologies such as Wi-Fi, GPS, and environmental sensors. These poles provide numerous benefits, including energy efficiency, reduced maintenance costs, and improved public safety. Smart poles are increasingly being used in smart cities and are gaining popularity in urban areas as they provide high-speed Internet connectivity, which is essential for the smooth functioning of smart city applications.

COVID-19 Impact on Global Smart Poles Market

The COVID-19 pandemic has brought several uncertainties leading to severe economic losses as various businesses across the world were at standstill. This has ultimately lowered the demand for smart poles due to disruptions in supply chain, closure of manufacturing plants, as well as economic slowdown across several countries. For instance, in the construction industry, several construction projects were postponed or canceled due to a shortage of raw materials and labor, fear of contracting the COVID-19 virus among workers, as well as travel restrictions. The COVID-19 pandemic has had a significant impact on the smart pole market. The pandemic affected the production and shipment of smart pole components, resulting in supply chain disruptions and increased costs. This has led to delays in the deployment of smart pole projects, as well as increase in costs for end-users. In addition, restrictions on mobility and social distancing measures have made it more difficult to install and maintain smart poles. However, the pandemic also created new opportunities in the smart poles market. With the rise of remote work and online shopping, the demand for reliable, high-speed Internet connectivity has increased. For example, smart poles can be equipped with sensors to monitor air quality, detect sound anomalies, and monitor pedestrian and vehicular traffic.

Rapid Technological Advancements in Smart Poles with the Implementation of Internet of Things (IoT) to Drive the Market Growth

The development of smart cities and the increase in demand for energy-efficient and sustainable urban infrastructure are the key drivers of the smart poles market growth. With the increase in number of connected devices, the need for a robust and reliable network infrastructure has become a priority for governments and municipal corporations. Smart poles, equipped with sensors, cameras, and communication devices, enable cities to monitor, control, and optimize their lighting and communication networks. Smart poles also offer an ideal platform for the deployment of various IoT applications such as traffic management, environmental monitoring, public safety, and advertising. The integration of smart poles with other smart cities' infrastructure such as smart grids, smart buildings, and smart transport systems helps cities to improve their overall efficiency and sustainability. The major trend of development of smart cities is expected to drive the demand for the smart poles market.

To know more about global smart poles market drivers, get in touch with our analysts here.

Complicated Technology and Limited Skillset among the Laborers to Restrain the Smart Poles Market Growth

The technology used in smart poles is complex and requires specialized training to install and maintain. This can limit the number of skilled workers available to install and maintain the smart poles. Furthermore, the high cost of the technology and the complicated installation process can also be a hindrance to the market growth. The cost of the poles, as well as the necessary infrastructure, such as communication networks and software, can be unaffordable for many cities and organizations. The complexity of the technology and the need for specialized training, high costs, lack of standardization, and security concerns are the major factors anticipated to limit the growth of the smart poles market during the forecast period.

Increase in Demand for New Technology to Drive Excellent Opportunities for the Smart Poles Market

The integration of 5G technology has enabled smart poles to perform a wider range of functions, including real-time monitoring of traffic, environmental conditions, public safety, and energy consumption. This enhances the overall performance and efficiency of the smart poles and offers various benefits. IoT technology allows for the real-time monitoring and control of the smart poles, making it possible to remotely manage and update the systems as required. 5G technology provides high-speed Internet connectivity, enabling the smart poles to stream real-time data and improve communication between the smart poles devices. The increase in integration of new technologies into smart poles is predicted to create significant growth opportunities for key players operating in the smart pole market.

To know more about global smart pole market opportunities, get in touch with our analysts here.

Global Smart Pole Market, by Type of Hardware

Based on type of hardware, the market has been divided into lighting lamp, pole bracket and pole body, communication device, controller, and others. Among these, the lighting lamp sub-segment accounted for the highest market share in 2021, whereas the communication device sub-segment is estimated to show the fastest growth during the forecast period.

Global Smart Pole Market Size, by Type of Hardware, 2021

Source: Research Dive Analysis

The lighting lamp sub-segment accounted for a dominant market share in 2021. The lighting lamp segment growth in the smart poles market is expected to be significant in the upcoming years. This is due to the rise in need for energy-efficient and environmentally friendly lighting solutions, as well as the growing demand for smart city infrastructure. Smart poles with LED lighting and linked technologies may improve urban illumination while also lowering energy usage, making them an appealing choice for towns and municipal corporations. Furthermore, the incorporation of additional technologies such as IoT sensors and 5G connection into smart poles is projected to boost the growth of the market.

The communication device sub-segment is anticipated to show the fastest growth and generate the highest revenue in 2031. Through different communication technologies, the operations of a smart pole may be monitored, accessed, and remotely controlled. They are intended to keep a variety of components and technologies, including air quality sensors, cameras, Wi-Fi access points, digital billboards, electronic call boxes, and electric car charging stations. The majority of these IoT-enabled devices interact via the IoT gateway. Therefore, an increase in demand for communication devices is expected to drive the growth of this segment.

Global Smart Poles Market, by Products

Based on products, the market has been divided into hardware, software, and services. Among these, the hardware sub-segment accounted for the highest revenue share in 2021.

Global Smart Poles Market Share, by Products, 2021

Source: Research Dive Analysis

The hardware sub-segment accounted for a dominant market share in 2021. Several smart poles installed around the world are equipped with different hardware components such as cameras and air quality sensors to monitor growing pollution levels. Several mobile technology companies are collaborating with alternative energy system suppliers to develop and market efficient poles that support video analytics, intelligent lighting, and Wi-Fi access points. Such collaborations help to create opportunities for camera and air quality sensor manufacturers to produce unique solutions for smart poles. For example, Nokia, a mobile technology provider, signed a reseller deal with Clear World, a solar lighting company, in March 2021, to sell Clear World's smart poles equipped with cameras and sensors to communities and military bases in the U.S. These factors are anticipated to boost the growth of the hardware sub-segment during the forecast timeframe.

Global Smart Poles Market, by Installation

Based on installation, the market has been divided into new installation and retrofit. Among these, the new installation sub-segment accounted for the highest revenue share in 2021.

Global Smart Poles Market Growth, by Installation, 2021

Source: Research Dive Analysis

The new installation sub-segment accounted for a dominant market share in 2021. There is an increase in government initiatives towards the production of smart poles in industrialized countries such as the U.S., UK, France, and Germany. Furthermore, industry participants such as ELKO EP, E.ON SE, and Signify Holdings are focusing on the development of smart poles equipped with security cameras, air quality sensors, and optional electric car chargers. New installations would enable governments and businesses throughout the world to support the most current smart pole technologies. These factors are anticipated to boost the growth of the new installation sub-segment during the forecast years.

Global Smart Poles Market, by Application

Based on application, the market has been divided into highways and roadways, public places, and railways and harbors. Among these, the highways and roadways sub-segment accounted for the highest revenue share in 2021.

Global Smart Poles Market Analysis, by Application, 2021

Source: Research Dive Analysis

The highways and roadways sub-segment accounted for a dominant market share in 2021. The increase in number of smart roads being built throughout the world is expected to be one of the major factors driving the segment growth. Smart poles are being installed on corners and sharp turns in countries such as India to avoid accidents on blind turns. These poles use electromagnetic waves and radar sensors to measure vehicle speeds and warn drivers of a vehicle approaching from the opposite direction. These factors are anticipated to boost the growth of the highways and roadways sub-segment during the forecast period.

Global Smart Poles Market, Regional Insights

The smart poles market was investigated across North America, Europe, Asia-Pacific, and LAMEA.

Global Smart Poles Market Size & Forecast, by Region, 2021-2031 ($Million)

Source: Research Dive Analysis

The Market for Smart Poles in North America to be the Most Dominant

The North America smart pole market accounted for the highest market share in 2021. The smart poles market in North America is expected to experience significant growth in the upcoming years. This growth is driven by factors such as increasing urbanization, growing demand for smart city solutions, and rising investments in renewable energy and smart grid technologies. The implementation of smart poles can lead to improved energy efficiency, increased safety, and enhanced communication infrastructure, further driving the demand for these products in the region. North American countries are adopting smart city initiatives, which include the deployment of smart poles to provide a range of services such as lighting, Wi-Fi, 5G connectivity, and environmental monitoring. The smart poles market in North America is driven by the development of new and innovative technologies, including IoT and smart grid technology, which are helping to improve the reliability and functionality of smart poles. In addition, the region's high technological advancements and presence of the U.S. as a major player in the technology industry are also contributing factors to the growth of the market in North America. For instance, in July 2021, the U.S. Coral Gables announced the installation of an AI-powered smart pole from Ekin Spotter, a startup that provides next-generation data analysis skills to residents and business owners in an emergency and improves traffic management capabilities. Such factors are projected to drive the growth of the market in North America.

Competitive Scenario in the Global Smart Poles Market

Investment and agreement are common strategies followed by major market players. For instance, in October 2021, Essex City Council announced a plan to replace 10,000 old-style streetlights with LED lights as part of the LED Replacement Program, which would benefit both people and the environment. Furthermore, governments prefer retrofitting street poles with sensor technology or updating them with IoT applications to make cost savings while providing equal advantages.

Source: Research Dive Analysis

Some of the leading smart poles market players are Philips Lighting Holding B.V., GE Lighting Co. Ltd, Hubbell Incorporated, Cree, Inc., Eaton Corporation, Acuity Brands, Sunna Design, Mobile Pro Systems, Goldspar Australia Pty Ltd., and Virtual Extension Ltd.