Published Date : Sep 20, 2018
ALBANY, New York, Sept 20, 2018: Internet of Things (IoT), in which ground information is gathered from a range of sensors that communicate with machines to analyze the information, is revolutionizing almost every field. Smart poles are one application area of it which has radically disrupted the street light market. A recent market report by MarketResearchReports.biz, titled, “Smart Pole Market - Global Industry, Size, Share, Growth, Trends and Forecast 2017–2022,” finds that the market is set to rise at a robust pace on the back of smart cities initiatives.
Smart poles, embedded with smart video cameras, announcement speakers, and sensors for detecting temperature, environment, or possible defects, are connected with computers via internet. The machines read the information gathered by the cameras about traffic and other safety issues and also about weather. All these help in predicting and thwarting traffic snarls, improving safety, and predicting functional problems. Such USPs are said to have a major positive impact on the global smart pole market.
Some of the key components in smart poles are lighting lamps, communication devices, sensors, lamp controllers, and software. The global smart pole market is expected to rise impressively in the next couple of years with rising thrust of authorities on building smart cities. This is because they help in better monitoring of the traffic and enhancing safety and security.
The installation in the global smart poles market can be segmented into retrofit installation and new installation. Among them, the segment of retrofit installation is generating maximum revenue while the new installation segment is predicted to generate maximum growth going forward.
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Serving to hold back the global smart poles market, on the other hand, is their steep installation price. This has particularly affected their demand in cost conscious developing nations. Besides, unlike traditional streetlights which are powered by electricity, smart poles are mainly powered by solar energy. This becomes a problem in times of gloomy weather. Moreover, maintenance of such advanced street lighting system requires skilled personal and is thus expensive. However, lowering cost of sensors and more improved technologies supporting a smart pole will open up new growth avenues in the near term.
The key applications segments of the global smart pole market are railways, highways and roads, public places, and harbors. From a geographical standpoint, North America and Europe are leading markets which are generating massive revenues. This is because of numerous developed nations which are majorly taking up smart cities initiatives owing to economic means of government. Presence of numerous technologies companies who are focused on product development are also having a positive impact on the market.
Some of the key players in the global smart pole market that have been profiled in the report are Acuity Brands Lighting, Inc., Lumca, Inc, Philips Lighting Holding B.V, Telensa Limited, Maven Systems Pvt. Ltd, and Neptun Light, Inc.
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