Smart Pole Market - Expected to Be Valued at USD 16.6 Billion By 2023
DUBLIN, Dec. 27, 2017 /PRNewswire/ --
The "Smart Pole Market - Global Forecast to 2023" report has been added to Research and Markets' offering.
The smart pole market is expected to be valued at USD 16.65 Billion by 2023, growing at a CAGR of 19.99% between 2017 and 2023. Some of the key factors driving the growth of this market are the need for energy-efficient pole lighting systems, increasing government initiatives for smart cities, and advantage of preventing traffic jams and accidents.
The smart pole system has various advantages over conventional street lights such as reduced maintenance costs, real-time reports and controllability, less environmental impact, etc. The smart pole could be seen as a revolution in the street pole industry and would create ample opportunities for the players operating in the field of smart devices, street light systems, internet connectivity, and communication devices, among others, in the coming years.
The smart pole market for software is expected to grow at the highest CAGR between 2017 and 2023. Software includes all the software solutions such that are integrated into the smart pole to make it connected and enable it to transfer and manage information. The basic feature of software used in any lighting system is the ability to control the functionality of the light. Some of the functions of the smart lighting software are daylight saving, real-time monitoring, alarms for street and other outdoor lights, dimming control, energy savings, intelligent dispatching, intuitive programming, scheduling of lighting functions, and analytics and reporting. The increasing interconnectivity of devices would create a demand for more robust software solutions. Thus, the market for the software solution is expected to grow at the highest rate during the forecast period.
North America is expected to hold the largest size of the smart pole market in 2016, and the market in APAC is expected to grow at the highest CAGR between 2017 and 2023. The early adoption of smart pole system in the US where a huge number of projects are being undertaken either for retrofitting smart poles or new installations is the main driving factor for the largest market size in North America. The market in APAC is expected to grow at the highest rate because of the increasing government initiatives in countries such as China, India, Japan, and Australia to expedite the replacement of traditional pole systems with smart pole systems to reduce the load of energy consumption by the street lights by 40%.
Companies Mentioned
- Acuity Brands, Inc.
- Cree, Inc.
- Eaton Corporation Plc
- General Electric Company
- Goldspar Australia Private Limited
- Hubbell Incorporated
- Lumca Inc.
- Maven Systems Pvt. Ltd.
- Mobile Pro Systems
- Neptun Light, Inc.
- Philips Lighting Holding B.V.
- Shanghai Sansi Technology Co., Ltd.
- Sunna Design
- Syska Led Lights Private Limited
- Virtual Extension Ltd.
- Zumtobel Group Ag
Key Topics Covered:
1 Introduction
2 Research Methodology
3 Executive Summary
4 Premium Insights
5 Market Overview
6 Industry Trends
7 Smart Pole Market, By Offering
8 Smart Pole Market, By Installation Type
9 Smart Pole Market, By Application
10 Geographic Analysis
11 Competitive Landscape
12 Company Profiles
For more information about this report visit https://www.researchandmarkets.com/research/2rpb3f/smart_pole_market
Media Contact:
Laura Wood, Senior Manager
press@researchandmarkets.com
For E.S.T Office Hours Call +1-917-300-0470
For U.S./CAN Toll Free Call +1-800-526-8630
For GMT Office Hours Call +353-1-416-8900
U.S. Fax: 646-607-1907
Fax (outside U.S.): +353-1-481-1716
Share this article