Smart Poles Market to Grow at a Stable 17.9% CAGR and Garner a Revenue of $35,921 Million by 2031

The global smart poles market is expected to grow primarily due to increasing need for energy-efficient lighting. Lighting lamp sub-segment is expected to flourish immensely. The North America region is predicted to grow at a high CAGR by 2031.

As per the report published by Research Dive, the global smart poles market is expected to register a revenue of $35,921 million by 2031 at a CAGR of 17.9% during the forecast period 2022-2031.

𝐃𝐨𝐰𝐧𝐥𝐨𝐚𝐝 𝐒𝐚𝐦𝐩𝐥𝐞 𝐧𝐨𝐰 @ https://www.researchdive.com/download-sample/8559

𝐌𝐚𝐫𝐤𝐞𝐭 𝐃𝐲𝐧𝐚𝐦𝐢𝐜𝐬

The growing need for energy-efficient lighting across the metropolitan cities of the world is expected to help the smart poles market to garner a significant revenue during the forecast period. Additionally, increasing installation of smart poles due to their ability to help in preventing accidents and traffic jams is predicted to propel the market forward. However, according to market analysts, limited skillset among laborers might become a restraint in the growth of the market.

Rapid technological advancements in smart poles with implementation of Internet of Things is predicted to offer numerous growth opportunities to the market in the forecast period. Moreover, rising government initiatives for the development of smart cities is expected to help the smart poles market to surge ahead in the forecast timeframe.

𝐂𝐎𝐕𝐈𝐃-𝟏𝟗 𝐈𝐦𝐩𝐚𝐜𝐭 𝐨𝐧 𝐭𝐡𝐞 𝐆𝐥𝐨𝐛𝐚𝐥 𝐒𝐦𝐚𝐫𝐭 𝐏𝐨𝐥𝐞𝐬 𝐌𝐚𝐫𝐤𝐞𝐭

The COVID-19 pandemic disrupted the routine lifestyle of people across the globe and the subsequent lockdowns adversely impacted the industrial processes across all sectors. The smart poles market, too, was negatively impacted due to the pandemic. Disruptions in global supply chains virtually halted the manufacturing of smart poles which ultimately brought down the growth rate of the market in the pandemic period.

𝐒𝐞𝐠𝐦𝐞𝐧𝐭𝐬 𝐨𝐟 𝐭𝐡𝐞 𝐒𝐦𝐚𝐫𝐭 𝐏𝐨𝐥𝐞𝐬 𝐌𝐚𝐫𝐤𝐞𝐭

The report has divided the smart poles market into the following segments:

By type of hardware, the lighting lamp sub-segment is predicted to be highly dominant by 2031. The growing demand for smart city infrastructure is expected to help the sub-segment gather a substantial revenue by 2031.

By products, the hardware sub-segment is predicted to generate significant revenue by 2031. Widespread installation of smart poles with different hardware components such as cameras and air quality sensors to monitor growing pollution levels in different cities across the world is expected to augment the growth of this sub-segment by 2031.

By installation, the new installation sub-segment is projected to grow at high CAGR during the forecast period. An increase in government initiatives towards the production of smart poles in industrialized countries such as the U.S., UK, France, and Germany is anticipated to push forward the sub-segment by 2031.

By application, the highways and roadways sub-segment is anticipated to grow at huge rate by 2031. The increase in the number of smart roads being built throughout the world is predicted to propel the growth of this sub-segment by 2031.

By region, the North America smart poles market held the largest share in 2021. Increasing urbanization and growing demand for smart city solutions are predicted to be the two main growth drivers of the market in the forecast period.

𝐑𝐞𝐪𝐮𝐞𝐬𝐭 𝐟𝐨𝐫 𝐂𝐮𝐬𝐭𝐨𝐦𝐢𝐳𝐚𝐭𝐢𝐨𝐧 @ https://www.researchdive.com/request-for-customization/8559

𝐊𝐞𝐲 𝐏𝐥𝐚𝐲𝐞𝐫𝐬 𝐨𝐟 𝐭𝐡𝐞 𝐌𝐚𝐫𝐤𝐞𝐭

The major players of the market include Philips Lighting Holding B.V., Eaton Corporation, Mobile Pro Systems, GE Lighting Co. Ltd, Acuity Brands, Goldspar Australia Pty Ltd., Hubbell Incorporated, Sunna Design, Virtual Extension Ltd., and Cree, Inc. These players are working on developing strategies such as product development, merger and acquisition, partnerships, and collaborations to sustain market growth.

𝐂𝐨𝐧𝐭𝐚𝐜𝐭:

𝐌𝐫. 𝐀𝐛𝐡𝐢𝐬𝐡𝐞𝐤 𝐏𝐚𝐥𝐢𝐰𝐚𝐥

𝐑𝐞𝐬𝐞𝐚𝐫𝐜𝐡 𝐃𝐢𝐯𝐞

𝟑𝟎 𝐖𝐚𝐥𝐥 𝐒𝐭. 𝟖𝐭𝐡 𝐅𝐥𝐨𝐨𝐫, 𝐍𝐞𝐰 𝐘𝐨𝐫𝐤 𝐍𝐘 𝟏𝟎𝟎𝟎𝟓

(𝐏) +𝟗𝟏-(𝟕𝟖𝟖)-𝟖𝟎𝟐-𝟗𝟏𝟎𝟑 (𝐈𝐧𝐝𝐢𝐚)

𝐓𝐨𝐥𝐥 𝐅𝐫𝐞𝐞: 𝟏-𝟖𝟖𝟖-𝟗𝟔𝟏-𝟒𝟒𝟓𝟒

𝐄-𝐦𝐚𝐢𝐥: support@researchdive.com

𝐖𝐞𝐛𝐬𝐢𝐭𝐞: https://www.researchdive.com

𝐀𝐛𝐨𝐮𝐭 𝐑𝐞𝐬𝐞𝐚𝐫𝐜𝐡 𝐃𝐢𝐯𝐞:

Research Dive maintaining the integrity and authenticity of the services, the firm provides services that are solely based on its exclusive data model, compelled by the 360-degree research methodology, which guarantees comprehensive and accurate analysis. With unprecedented access to several paid data resources, a team of expert researchers, and strict work ethic, the firm offers insights that are extremely precise and reliable.

Scrutinizing relevant news releases, government publications, decades of trade data, and technical & white papers, Research dive delivers the required services to its clients well within the required timeframe. Its expertise is focused on examining niche markets, targeting its major driving factors, and spotting threatening hindrances. Complementarily, it also has a seamless collaboration with the major industry aficionado that further offers its research an edge.

This release was published on openPR.