New York, March 14, 2023 (GLOBE NEWSWIRE) -- Reportlinker.com announces the release of the report "Smart Pole Global Market Report 2023" - https://www.reportlinker.com/p06310827/?utm_source=GNW
, Ltd., Goldspar Australia Pty. Ltd., iRam Technologies, Telelink City, and Ampolt Electronics India Pvt Ltd.
The global smart poles market grew from $9.04 billion in 2022 to $10.53 billion in 2023 at a compound annual growth rate (CAGR) of 16.6%. The Russia-Ukraine war disrupted the chances of global economic recovery from the COVID-19 pandemic, at least in the short term. The war between these two countries has led to economic sanctions on multiple countries, a surge in commodity prices, and supply chain disruptions, causing inflation across goods and services, and affecting many markets across the globe. The smart poles market is expected to grow to $19.84 billion in 2027 at a CAGR of 17.2%.
The smart poles market consists of revenues earned by entities by providing smart poles services designing, installation, maintenance and network operations.The market value includes the value of related goods sold by the service provider or included within the service offering.
The smart poles market also includes sales smart poles components cameras, environmental sensors, PV solar cells, USB charging, digital signage, and smart lights.Values in this market are ‘factory gate’ values, that is the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors and retailers) or directly to end customers.
The value of goods in this market includes related services sold by the creators of the goods.
The smart poles refers to a pole with a completely integrated lighting system, sensors, wireless connectivity (Wi-Fi or cellular technology), and other functions in one cohesive unit. Smart Poles uses real-time systems, data, and sensors to connect information and communication technologies amongst many parties, including municipalities, commercial businesses, transportation grids, hospitals, schools, and others.
North America was the largest region in the smart pole market in 2022.Asia-Pacific is expected to be the fastest-growing region in the forecast period.
The regions covered in the smart pole market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa.
The main hardware components of smart poles includes lighting lamps, pole bracket & pole body, communication device, controllers, and others.The lighting lamp refers to smart lighting systems used in both new installation and retrofit installation of smart poles.
The lighting systems in smart poles consists of a integrated system, which connects communication and information technology between multiple carriers through use of real-time systems, sensors, and data.They are installed through new installation or retrofit installation.
They are used in highways and roadways, public places, railways & harbours.
The growing number of smart roads across the globe is expected to propel the growth of the smart pole market.Smart roads refer to actual roads equipped with a smart streetlight, smart traffic lights, and other smart technologies, which provide safe and secured transportation.
These roads utilize advanced communication networks, IoT sensor networks, big data, and MI/AL technologies, to gather information from traffic lights, parking meters, air quality and others.These data are further used to provide efficient traffic movement, reduce congestion, and offer secured and safe passage to people.
For instance, according to the study published in Tomorrow City, an interdisciplinary research hub, in Europe, more than EUR 421 million in the development of 69 mobility projects. Therefore, an increase in the number of smart roads is expected to boost the smart poles market during the forecast period.
Increasing integration of IoT enabled devices in smart poles is an emerging trend gain popularity in the smart pole market.IoT enabled devices refers to hardware such as sensors, actuators, gadgets, and appliances, that are programmed for certain applications and transmit data over the internet to other networks.
The majority of the companies operating in the smart poles are integrating multiple IoT-enabled devices to increase usability and increase the capabilities of poles to carry out a wide range of activities. For instance, Signify N.V., a Netherlands-based manufacturer and distributor of electric lights and lighting fixtures launched the BrightSites smart pole, integrated with a wide range of IoT applications, connectivity, cameras, and environmental sensors.
In March 2020, Signify N.V., a Dutch-based provider of high-quality, energy-efficient lighting products, systems, and services, acquired Cooper Lighting Solutions for $1.4 billion on a cash and debt free basis. This acquisition by Signify N.V., will bring innovation to lighting systems, leading to operational efficiencies and creating value for the customers. Cooper Lighting Solutions, is a georgia-based provider of professional lighting, lighting controls, and smart lighting systems.
The countries covered in the smart pole market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA.
The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified).
The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.
The smart pole market research report is one of a series of new reports that provides smart pole market statistics, including smart pole industry global market size, regional shares, competitors with a smart pole market share, detailed smart pole market segments, market trends and opportunities, and any further data you may need to thrive in the smart pole industry. This smart pole market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenario of the industry.
Read the full report: https://www.reportlinker.com/p06310827/?utm_source=GNW
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