North America Smart Pole Market Size, Share & Industry Trends Analysis Report By Application, By Component (Hardware, Software, and Services), By Hardware Type, By Installation Type, By Country and Growth Forecast, 2021 - 2027
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Market Report Description
The North America Smart Pole Market would witness market growth of 17.8% CAGR during the forecast period (2021-2027).
Smart poles are networked light sources that can be controlled from afar. Citizens, visitors, and businesses can benefit from smart pole technology's multi-utility functions and capabilities. Highways, roadways, and public spaces are all sites where smart poles are deployed. Additionally, smart poles use technology to improve mobile network performance across the city and provide different benefits to citizens in public spaces like internet connectivity, public announcement speakers, and charging points.
The ability of smart poles to centralize the electronics, software controls, and sensors that can assist in gathering and transmitting information from the pole position to the operator location is a key factor driving demand for smart poles around the world. Smart poles are also used extensively in energy-saving measures in order to provide a high level of prosperity to the population. In addition, the increased demand for business automation is causing the Smart Pole to be deployed more widely over the Region.
The region is early adoption of smart cities, continuous upgrades to existing utility infrastructure, and significant investments in cutting-edge technology. For example, in October 2020, Canada announced cooperation with Nokia to update utility pole infrastructure to smart city green poles.
Various governments are working to develop their cities by installing smart poles with Wi-Fi access and charging stations. For example, as part of its digital transformation effort, the City of Hampton in Virginia declared the installation of cutting-edge light poles in February 2021. The energy for Wi-Fi connectivity and charging ports is provided by green technology like solar power. Security cameras are also installed on the smart poles, which offer a live video feed to surrounding police. Furthermore, many governments have implemented smart lighting projects to replace inefficient lighting infrastructure with energy-efficient lighting.
The US market dominated the North America Smart Pole Market by Country in 2020, and would continue to be a dominant market till 2027; thereby, achieving a market value of $5,056.9 million by 2027. The Canada market is experiencing a CAGR of 20.5% during (2021 - 2027). Additionally, The Mexico market would showcase a CAGR of 19.4% during (2021 - 2027).
Based on Application, the market is segmented into Public Places, Highways & Roadways, and Railways & Harbors. Based on Component, the market is segmented into Hardware, Software, and Services. Based on Hardware Type, the market is segmented into Controller, Lighting Lamp, Pole Bracket & Pole Body, Communication Device, and Others. Based on Installation Type, the market is segmented into Retrofit, and New. Based on countries, the market is segmented into U.S., Mexico, Canada, and Rest of North America.
Free Valuable Insights: The Global Smart Pole Market is Estimated to reach $20.7 Billion by 2027, at a CAGR of 18.6%
The market research report covers the analysis of key stake holders of the market. Key companies profiled in the report include Eaton Corporation PLC, General Electric (GE) Co., Siemens AG, Signify N.V., Itron, Inc., Wipro Limited, Zumtobel Group AG, Acuity Brands Lighting, Inc., and Hubbell Incorporated.
Scope of the Study
Market Segments Covered in the Report:
- Public Places
- Highways & Roadways
- Railways & Harbors
- Lighting Lamp
- Pole Bracket & Pole Body
- Communication Device
By Installation Type
- Rest of North America
Key Market Players
List of Companies Profiled in the Report:
- Eaton Corporation PLC
- General Electric (GE) Co.
- Siemens AG
- Signify N.V.
- Itron, Inc.
- Wipro Limited
- Zumtobel Group AG
- Acuity Brands Lighting, Inc.
- Hubbell Incorporated
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