The global smart pole market size is expected to reach USD 26.55 billion by 2028, according to a new report by Grand View Research, Inc. It is projected to register a CAGR of 19.7% from 2021 to 2028. Continued urbanization and the subsequent need to manage assets and infrastructure efficiently are driving the demand for smart poles. The rollout of smart city projects in different parts of the world also bodes well for the growth of the market. According to a study conducted by the Consumer Technology Association, smart city spending across the globe reached USD 34.35 billion in 2020.
Several government bodies worldwide are pursuing initiatives to provide Wi-Fi connectivity in public areas and are deploying smart poles for the purpose. For instance, in February 2018, smart poles offering Wi-Fi connectivity were installed in Kalaburagi, India as part of the efforts to provide free Wi-Fi connectivity for citizens at selected places. Similarly, in February 2020, smart poles featuring the latest technology were installed in London, the U.K. in Hampton as part of the government’s digital transformation project to provide Wi-Fi connectivity to citizens.
Smart poles are also being installed for monitoring air quality in the wake of the deteriorating ambient air quality in urban areas in different parts of the world. Several people across the world are suffering from various disorders stemming from the deteriorating quality of the ambient air. Smart poles can potentially play a decisive role in addressing the air quality issues in urban areas by monitoring environmental parameters, such as humidity, temperature, and concentration of fine air particles, and help in assessing the quality of ambient air. The data provided by the smart poles can help the citizens in limiting their exposure to air pollution and the authorities in improving the quality of the ambient air quality.
The outbreak of the COVID-19 pandemic is anticipated to adversely affect the growth of the market. Construction and infrastructure development projects are confronting a slowdown owing to the lockdowns imposed in different parts of the world as part of the efforts to arrest the spread of the disease. For instance, during the COVID 19 situation, the U.K. government had announced the shutdown of construction sites with more than 50 workers. The shutdown of construction sites thereby leads to a decrease in the demand for smart poles requirements.
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Smart Pole Market Report Highlights
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Smart Pole Market Segmentation
Grand View Research has segmented the global smart pole market on the basis of component, hardware, installation type, application, and region:
Smart Pole Component Outlook (Revenue, USD Million, 2016 – 2028)
Smart Pole Hardware Outlook (Revenue, USD Million, 2016 – 2028)
Smart Pole Installation Type Outlook (Revenue, USD Million, 2016 – 2028)
Smart Pole Application Outlook (Revenue, USD Million, 2016 – 2028)
Smart Pole Regional Outlook (Revenue, USD Million, 2016 – 2028)
List of Key Players in the Smart Pole Market
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