Smart Poles market is projected to grow between 2018 and 2023
The recent study, titled “Smart Poles Market – Forecasts from 2018 to 2023”, covers an in-depth analysis of the market on the basis of components, application, and geography. The report also covers the country level analysis within the regions as well. Additionally, the report covers the key trends in the market along with drivers and restraint during the forecast period 2018-2023. The report has segmented the smart poles market by the component (Lighting lamp, communication device, pole bracket and pole body and others), application (Highways and roadways, public places, railways and harbors) and geography (North America, South America, Europe, Middle East, and Africa, and the Asia Pacific). Smart poles can be considered as the revolution in the street pole industry and are expected to create ample opportunities for the players operating in the field of smart lighting systems, smart devices and communication devices in the coming future. Rising need for energy efficient pole lighting systems and increasing government initiatives for smart cities are considered as the key drivers of the market during the forecast period. In addition, increasing adoption of IoT technology in smart poles is also expected to widen up the growth opportunities for the vendors and manufacturers in the coming years.
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By application, highways and roadways are anticipated to grow during the forecast period
It is estimated that the application of smart poles in highways and roadways will have the significant market share in 2018 and is expected to have an exponential growth rate. There is an increasing installation of smart poles on roadways and highways to avoid accidents and to monitor traffic. In order to build smart cities government and private companies have found the installation of smart poles in highways and roadways to be the stepping stone, as smart poles are proved to avoid congestion and also maintains the smooth flow of the traffic.
The North America region is estimated have a significant share in the smart poles market throughout the forecast period.
The demand for smart poles was comparatively high in the North America region owing to early adoption of smart pole systems in the United States where already a huge number of projects is being undertaken for retrofitting smart poles or new installations in various cities which makes it one of the dominant market in the region. In addition, rising initiatives by the government for the smart cities along with the increasing adoption of automation the region is further expected to drive the market in the region in the coming years.
This report also includes a study of strategies and product portfolios of some of the leading companies in the smart poles market. It consists of company profiles of the leading companies such as Cree, Inc., Hubbell Incorporated, Philips Lighting Holding B.V., General Electric, Acuity Brands, Inc, Neptun Light, Inc., Lumca Inc., Sunna Design and Maven Systems Pvt. Ltd.
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