The global Smart Pole Market size is expected to reach USD 26.55 billion by 2028, according to a new report by Grand View Research, Inc. It is projected to register a CAGR of 19.7% from 2021 to 2028. Continued urbanization and the subsequent need to manage assets and infrastructure efficiently are driving the demand for smart poles. The rollout of smart city projects in different parts of the world also bodes well for the growth of the market. According to a study conducted by the Consumer Technology Association, smart city spending across the globe reached USD 34.35 billion in 2020.
Several
government bodies worldwide are pursuing initiatives to provide Wi-Fi
connectivity in public areas and are deploying smart poles for the purpose. For
instance, in February 2018, smart poles offering Wi-Fi connectivity were
installed in Kalaburagi, India as part of the efforts to provide free Wi-Fi
connectivity for citizens at selected places. Similarly, in February 2020,
smart poles featuring the latest technology were installed in London, the U.K.
in Hampton as part of the government’s digital transformation project to provide
Wi-Fi connectivity to citizens.
Smart
poles are also being installed for monitoring air quality in the wake of the
deteriorating ambient air quality in urban areas in different parts of the
world. Several people across the world are suffering from various disorders
stemming from the deteriorating quality of the ambient air. Smart poles can
potentially play a decisive role in addressing the air quality issues in urban
areas by monitoring environmental parameters, such as humidity, temperature,
and concentration of fine air particles, and help in assessing the quality of
ambient air. The data provided by the smart poles can help the citizens in
limiting their exposure to air pollution and the authorities in improving the
quality of the ambient air quality.
The
outbreak of the COVID-19 pandemic is anticipated to adversely affect the growth
of the market. Construction and infrastructure development projects are
confronting a slowdown owing to the lockdowns imposed in different parts of the
world as part of the efforts to arrest the spread of the disease. For instance,
during the COVID 19 situation, the U.K. government had announced the shutdown
of construction sites with more than 50 workers. The shutdown of construction
sites thereby leads to a decrease in the demand for smart poles requirements.
Related
Press Release @ Smart Pole Market Report
Smart Pole Market Report Highlights
- The hardware
segment dominated the market in 2020. The infrastructure development
projects that are underway worldwide are expected to drive the growth of
the segment over the forecast period
- The
controller segment dominated the market in 2020 and is expected to witness
promising growth over the forecast period. The government incentives and
rebates being offered on the replacement of conventional lamp poles with
smart poles as a part of smart city development projects are expected to
drive the growth of the segment over the forecast period
- The retrofit
installation segment dominated the market in 2020. The provisioning of
Wi-Fi connectivity and installation of digital signage on existing poles
as part of smart city development is expected to drive the growth of the
segment over the forecast period
- The public
places segment dominated the market in 2020. The growing preference for
Public-Private Partnerships for the deployment of Wi-Fi networks at public
places is expected to drive the growth of the segment
- Increasing
adoption of smart poles in emerging economies, such as China and India, is
expected to create growth opportunities for the market in the Asia Pacific
region over the forecast period
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View Research, Inc. is a U.S. based market research and consulting company,
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