Smart Pole Market Size to Reach US$ 10,000 Million and Registering a CAGR of 13.7% by 2022

October 25 21:06 2021
Smart Pole Market Size to Reach US$ 10,000 Million and Registering a CAGR of 13.7% by 2022
The rising concerns about growing mishaps and accidents on road coupled with the emergence of smart cities will help in increasing the growth prospects of the global smart pole market during the forecast period of 2017-2022

The rising concerns about growing mishaps and accidents on road coupled with the emergence of smart cities will help in increasing the growth prospects of the global smart pole market during the forecast period of 2017-2022. In addition, smart poles are also beneficial for monitoring certain aspects like pollution levels in a particular area. These factors serve as building blocks of growth.

Smart poles help improve certain factors with the assistance of real-time data. Transport infrastructure is benefitted immensely because of smart poles as the features integrated in them assist in solving traffic congestion problems. All these aspects bode well for the growth of smart pole market.

A smart pole is a light pole having advanced features like smart LED lighting and integration with cameras, Wi-Fi transmitters, weather monitoring systems, EV chargers, announcement speakers, etc. Smart poles enable clear communication with the central control in moments of despair like floods, incessant rains, traffic jams, accidents, etc. These benefits help in improving the growth trajectory of smart pole market.

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The expanding need for traffic management across various countries will assure promising avenues for smart pole market. In addition, with the emergence of latest technologies, digital infrastructure and connected devices are being used for various purposes including traffic control and disaster management. The infrastructure can be seamlessly connected with smart poles for performing various purposes. These factors have the potential to boost growth opportunities.

Widening application range and increasing awareness about the importance of smart poles will assure promising growth for the global market. Highways, roads, harbors, public places, and railways are some important areas where smart poles are being adopted on a large scale.

Transparency Market Research’s (TMR’s) report on the smart pole market has every component that will assist the stakeholder in understanding the current scenario. The overall market research survey on smart pole by TMR suggests a stable growth period.

According to the TMR experts, the market for smart pole is prognosticated to expand at 13.7 percent CAGR during the forecast period of 2017-2022. In the context of valuation, the smart pole market is estimated to reach a valuation of US$ 10,000 mn by 2022.

Initiatives by Government Bodies of Numerous Countries to Upgrade Transport Infrastructure Invites Considerable Growth

The government bodies of numerous countries are investing in building a robust and well-equipped transport infrastructure for decreasing the number of mishaps and accidents around the world. Smart poles are connected with the latest monitoring and detection technologies like CCTVs and sensors to enable quick action if any such incident occurs.

Secondly, these poles also alert central authorities if traffic congestion is reported. The alerts help traffic departments to take swift action for removing the clutter as soon as possible. Thus, these factors will bring immense growth for smart pole market.

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New Installations Gear up as Smart Cities crop up across Various Regions

The concept of smart cities is taking shape across many regions around the globe. Existing cities are being converted into smart cities and new smart cities are also being established. These cities adopt intelligent technologies for offering seamless comfort and safety to its citizens. Smart poles are one of the prominent aspects of a smart city.

Recently, the local bodies of various cities have provided round-the-clock Wi-Fi connectivity to its citizens through smart poles. Further, smart poles with electric vehicle charging points have also been installed in various areas. Based on these factors, the new installation segment is predicted to expand at higher CAGR between 2017 and 2022.

Some key players in the smart pole market are Shanghai Sansi technology Co., LTD, Telensa Limited, Maven Systems Pvt. Ltd, Lumca, Inc, and Streetscape International LLC.

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