Smart poles are rapidly being adopted under ‘smart city’ initiative in developing nations. In addition, governments of developed countries are focused on improvising experience of people while they are in public places by offering web connectivity on streets.
These initiatives by governments for smart solutions drives growth of the smart pole market. In addition, smart poles are equipped with smart sensors and video cameras helpful for decreasing overcrowding and traffic, which lets vehicle drivers to drive safely on roads. Rise in fondness for cab services among customers continues to raise demand for internet use for tracking directions.
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This advantage of reduction in traffic jams and accidents prevention also drives demand for smart pole solutions. However, higher investments in smart poles as compared to traditional poles hinder the market growth. On the other hand, use of IoT technologies in smart poles are expected to be opportunistic for the market.
With introduction of the 5G era, various IoT devices are becoming better connected, including lighting facilities across cities. For limited coverage and high speed of 5G technology, numerous base stations are required to be installed to guarantee adequate coverage as well as build connections for various use cases such as ultra-reliable low-latency communication (URLLC)-based autonomous driving.
Road and street lighting poles are a perfect place to place these 5G base stations. These lighting poles can be controlled within 5G-enabled smart city networks, along with other connected devices and sensors.
Key benefits of the report:
- This study presents the analytical depiction of the global smart pole industry along with the current trends and future estimations to determine the imminent investment pockets.
- The report presents information related to key drivers, restraints, and opportunities along with detailed analysis of the global smart pole market share.
- The current market is quantitatively analyzed from 2020 to 2027 to highlight the global smart pole market growth scenario.
- Porter’s five forces analysis illustrates the potency of buyers & suppliers in the market.
- The report provides a detailed global smart pole market analysis based on competitive intensity and how the competition will take shape in coming years.
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