Global Smart Pole Market
The Global Smart Pole Market was valued at USD 4.86 billion in 2016 and is projected to reach USD 25.13 billion by 2025, growing at a CAGR of 20.03% from 2017 to 2025.
Smart Poles serve as an important connected light source which can be remotely managed and they house technology to improve mobile network performance across the city. The smart pole system has various advantages over conventional street lights such as reduced maintenance costs, real-time reports and controllability, less environmental impact, and expendable infrastructure and scalability. Smart poles could provide various benefits such as internet connectivity, announcement speakers, and charging points to help tourists visiting the public places.
1. Market Drivers
1.1 Increasing use of IoT technology in smart poles
1.2 Rising demand for energy efficiency in developing economies
1.3 Growing government initiatives for smart cities
1.4 Reduction in traffic jams and prevents accidents
2. Market Restraints
2.1 Poor standardization of communication protocols
2.2 High cost
The Global Smart Pole Market is segmented on the installation type, offering, application, and region.
1. Installation Type:
1.2 New Installation
2. By Offering:
2.3.1 Communication Device
2.3.2 Lighting Lamp
2.3.4 Lamp Controller
2.3.5 Pole Bracket and Pole Body
3. By Application:
3.1 Public Places
3.2 Railways and Harbors
3.3 Highways and Roadways
4. By Region:
4.1 North America (U.S., Canada, Mexico)
4.2 Europe (Germany, UK, France, Rest of Europe)
4.3 Asia Pacific (China, India, Japan, Rest of Asia Pacific)
4.4 Latin America (Brazil, Argentina, Rest of Latin America)
4.5 Middle East & Africa
The major players in the market are as follows:
1. General Electric Company
2. Eaton Corporation PLC
3. Zumtobel Group AG
4. Virtual Extension Ltd.
5. Mobile Pro Systems
6. Philips Lighting Holding B.V.
7. Hubbell Incorporated
8. Syska LED Lights Private Limited
9. Acuity Brands, Inc.
10. Cree, Inc.
11. Maven Systems Pvt. Ltd.
These major players have adopted various organic as well as inorganic growth strategies such as mergers & acquisitions, new product launches, expansions, agreements, joint ventures, partnerships, and others to strengthen their position in this market.
RESEARCH METHODOLOGY OF VERIFIED MARKET INTELLIGENCE:
Research study on the Global Smart Pole Market was performed in five phases which include Secondary research, Primary research, subject matter expert advice, quality check and final review.
The market data was analyzed and forecasted using market statistical and coherent models. Also market shares and key trends were taken into consideration while making the report. Apart from this, other data models include Vendor Positioning Grid, Market Time Line Analysis, Market Overview and Guide, Company Positioning Grid, Company Market Share Analysis, Standards of Measurement, Top to Bottom Analysis and Vendor Share Analysis.
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