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Smart Pole Global market Report 2024 – Market Size, Trends, And Forecast 2024-2033
Smart Pole Global Market Report 2024 – Market Size, Trends, And Forecast 2024-2033
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LONDON, GREATER LONDON, UK, September 12, 2024 /EINPresswire / -- The smart pole market has experienced robust growth in recent years, expanding from $10.3 billion in 2023 to $11.98 billion in 2024 at a compound annual growth rate (CAGR) of 16.3%. The growth in the historic period can be attributed to energy efficiency, government initiatives, safety and security concerns, smart city initiatives, community engagement.
Strong Future Growth Anticipated
The smart pole market is projected to continue its strong growth, reaching $22.27 billion in 2028 at a compound annual growth rate (CAGR) of 16.8%. The growth in the forecast period can be attributed to renewable energy integration, electric vehicle (ev) charging, infrastructure modernization, demand for environmental monitoring, demand for public wi-fi.
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Growth Driver Of The Smart Pole Market
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.
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Major Players And Market Trends
Key players in the smart pole market include Signify Holding NV, Silver Spring Networks Inc., Telensa Holdings Limited, Wipro Limited, Zumtobel Group AG, Cree Inc., Eaton Corporation PLC, Echelon Corporation.
Major companies operating in the smart pole market are developing innovative products such as artificial intelligence (AI)-infused smart poles to meet larger customer bases, more sales, and increase revenue. AI-infused smart poles are intelligent urban infrastructure equipped with artificial intelligence technology for various functions, including environmental monitoring, traffic management, and connectivity services.
Segments:
1) By Hardware: Lighting Lamp, Pole Bracket & Pole Body, Communication Device, Controller, Other Hardware
2) By Installation Type: New Installation, Retrofit Installation
3) By Application: Highways & Roadways, Public Places, Railways & Harbors
Geographical Insights: North America Leading The Market
North America was the largest region in the smart pole market in 2023. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the smart pole market report include Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa.
Smart Pole Market Definition
The smart pole 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.
Smart Pole Global Market Report 2024 from The Business Research Company covers the following information:
.Market size data for the forecast period: Historical and Future
.Market analysis by region: Asia-Pacific, China, Western Europe, Eastern Europe, North America, USA, South America, Middle East and Africa.
.Market analysis by countries: Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA.
Trends, opportunities, strategies and so much more.
The Smart Pole Global Market Report 2024 by The Business Research Company is the most comprehensive report that provides insights on smart pole market size, smart pole market drivers and trends, smart pole market major players, smart pole competitors' revenues, smart pole market positioning, and smart pole market growth across geographies. The smart pole market report helps you gain in-depth insights into opportunities and strategies. Companies can leverage the data in the report and tap into segments with the highest growth potential.
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