Published Date: 30-Apr-22
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According to a new report, published by KBV research, The Global Smart Pole Market size is expected to reach $20.7 billion by 2027, rising at a market growth of 18.6% CAGR during the forecast period.
The Public Places segment acquired the maximum revenue share in the Global Smart Pole Market by Application in 2020, and would continue to be a dominant market till 2027; thereby, achieving a market value of $8.6 billion by 2027. To assist tourists and visitors in public settings, smart poles include surveillance cameras, internet connectivity, announcement speakers, and charging stations. Solar-powered smart poles are also intended to encourage the construction of smart poles in public parks, beaches, and tourist destinations to reduce crowding.
The Hardware segment is leading the Global Smart Pole Market by Component in 2020; thereby, achieving a market value of $12.2 billion by 2027. This is because thousands of smart poles have been erected around the world, each with cameras and air quality sensors to monitor rising pollution levels. In addition, several mobile technology companies are forming alliances with alternative energy companies to create and sell energy-efficient poles that can enable video analytics, intelligent lighting, and Wi-Fi access points. Such collaborations assist vendors of cameras and air quality sensors build unique solutions for smart poles, allowing them to expand
The New segment is showcasing a CAGR of 19.1% during (2021 - 2027). This is due to increased government initiatives in industrialized countries such as the United States, the United Kingdom, France, and Germany to install smart poles to give improved online access on the streets. Furthermore, companies like ELKO EP, E.ON SE, and Signify Holdings are focusing on the creation of smart poles that include surveillance cameras, air quality sensors, and optional electric vehicle chargers. Governments and businesses all across the world would be able to support the emerging smart pole features due to the new installations.
The North America market dominated the Global Smart Pole Market by Region in 2020, and would continue to be a dominant market till 2027; thereby, achieving a market value of $7.0 billion by 2027. The Asia Pacific market is estimated to witness a CAGR of 20.3% during (2021 - 2027). Additionally, The Europe market would exhibit a CAGR of 17.9% during (2021 - 2027).
Full Report: https://www.kbvresearch.com/smart-pole-market/
The market research report has exhaustive quantitative insights providing a clear picture of the market potential in various segments across the globe with country wise analysis in each discussed region. The key impacting factors of the market have been discussed in the report with the elaborated company profiles of 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.
By Installation Type
Unique Offerings from KBV Research
North America Smart Pole Market Future Scope & Opportunities 2021-2027
Europe Smart Pole Market Size & Growth Forecast 2021-2027
Asia Pacific Smart Pole Market Size, Share & Industry Outlook to 2027
LAMEA Smart Pole Market Growth, Trends & Forecasts 2021-2027