NEW YORK, March 15, 2022 — The global smart pole market was valued to be around US$ 8 Bn in 2021. By 2032, the overall sales of the market is forecast to reach US$ 65.12 Bn, with staggering growth at a CAGR of 21% during the forecast period (2022-2032).
Growing demand for energy-efficient streetlights and government programs supporting the development of smart cities will aid the growth in the market. In addition to this, rising need to avert accidents and traffic jams is projected to drive the sales of smart pole in the coming years.
To capitalize on existing trend, key players are developing smart poles with integration of advanced technology such as traffic management systems, security cameras, wireless sensor networks, and others. This is projected to increase the demand worldwide.
Subsequently, integration of artificial intelligence (AI) and internet of things (IoT) for the performance enhancement is likely to augment the demand of smart poles. Several governments for improved quality of life are improving public infrastructure. They are adding Wi-Fi access and charging points to smart poles, thereby, creating conducive environment for the growth of the market.
Apart from this, growing environmental concerns related to air pollution is anticipated to increase the application of smart poles for monitoring humidity, temperature, and fine particulate matter concentrations. This is likely to spur the sales of smart poles.
According to World Health Organization (WHO), around 7 million people die each year from air-borne illnesses due to poor air quality and air pollution. To reduce the global burden, governments and industries across the globe are increasing the adoption of smart poles.
Key Questions Covered in the Smart Pole Market Report
Which are the key factors driving the global smart pole market? What is the expected growth rate of global smart pole market expected during the forecast period (2022-2032)? What was the market size of the smart pole market in 2021? Which region is expected to hold maximum share in the global smart pole market? What will be the market size of the smart pole market in 2022? Who are the prominent players operating in the global smart pole market?
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