Smart Pole Market to Grow at 19.99% CAGR by 2023
PUNE, India, September 26, 2017 /PRNewswire/ --
Smart pole market size is expected to be valued at $16.65 billion by 2023 growing at a CAGR of 19.99% between 2017 and 2023 driven by the need for energy-efficient pole lighting systems fueled by increasing government initiatives for smart cities. It also is an added advantage in preventing traffic jams and accidents, while North America was the largest market size in 2016 and APAC to witness the highest CAGR during the forecast period according to ReportsnReports.com.
Browse 65 Market Data Tables and 51 Figures spread through 140 Pages and in-depth TOC on "Smart Pole Market Global Forecast to 2023" http://www.reportsnreports.com/reports/1195365-smart-pole-market-by-offering-component-software-and-services-installation-type-new-installation-and-retrofit-application-highways-roadways-public-places-and-railways-harbors-and-geography-global-st-to-2023.html .
The smart pole market in APAC is expected to grow at the highest rate during the forecasted period 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%.
The major players in the ecosystem of smart pole market are Philips Lighting Holding B.V. (Netherlands), General Electric company (US), Hubbell Incorporated (US), Cree, Inc. (US), Eaton Corporation (Ireland), Acuity Brands (US), Zumtobel Group (Austria), SYSKA LED (India), Neptun Light Inc. (US), Maven Systems Pvt. Ltd. (India), Lumca Inc. (Canada), Sunna Design (France), Mobile Pro Systems (US), Goldspar Australia Pty Ltd. (Australia), and Virtual Extension Ltd. (Israel).
Order a copy of Smart Pole Market by Offering (Component, Software, and Services), Installation Type (New Installation and Retrofit), Application (Highways & Roadways, Public Places, and Railways & Harbors), and Geography - Global Forecast 2023 research report at http://www.reportsnreports.com/purchase.aspx?name=1195365 .
The public places application expected to witness the highest smart pole market growth rate during the forecast period. Smart poles could provide various benefits such as internet connectivity, announcement speakers, and charging points to help tourists visiting the public places. It would help in reducing the infrastructure and installation cost for separate devices. Also, the use of solar-powered smart poles would enable the installation of smart poles in remote public places, such as architectural sites, without the extra cost of extending power supply to that location eventually leading to smart pole industry.
The smart pole system has various advantages over conventional street lights such as reduced maintenance costs, real-time reports and controllability, less environmental impact, and expendable infrastructure and scalability. 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 in the coming years. However, the higher upfront cost of smart poles compared to traditional poles is a restraint for the smart pole market.
Make an Inquiry on "Smart Pole Market - Global Forecast to 2023" research report at http://www.reportsnreports.com/contacts/inquirybeforebuy.aspx?name=1195365 .
In the process of determining and verifying the smart pole market size for several segments and subsegments gathered through secondary research, extensive primary interviews were conducted. Breakdown of the profiles of primary participants:
- By Company: Tier 1 =20 %, Tier 2 =55%, and Tier 3 =25%
- By Designation: C-Level Executives =50%, Directors =25%, and Managers =25%
- By Region: North America =60%, Europe =20%, APAC =10%, and RoW = 10%
In this report, the smart pole market has been segmented on the basis of offering, installation type, application, and geography. The market has been segmented on the basis of offering into component, software, and services. The smart pole market is further classified on the basis of installation type into new installation and retrofit. The smart pole market based on application comprises highways and roadways, public places, and railways and harbors. The study also covers the forecast of the market sizes for four main regions-North America, Europe, APAC, and RoW.
Another research titled Industrial Lighting Market Global Forecast to 2023 says, the industrial lighting market is expected to be worth $13.17 billion by 2023, growing at a CAGR of 7.82% between 2017 and 2023. The LED lighting market is likely to grow at the highest rate during the forecast period. Industrial lighting market in RoW to grow at the highest CAGR. Companies such as Philips Lighting Holding B.V. (Netherlands), Hubbell Lighting, Inc. (US), Emerson (US), Legrand (France), Acuity Brands Lighting, Inc. (US), TOYODA GOSEI Co., Ltd (Japan), Cree, Inc. (US), General Electric (US), Osram Licht AG (Germany), Zumtobel Group (Austria) have been profiled in this 164 pages research report available at http://www.reportsnreports.com/reports/1150241-industrial-lighting-market-by-light-source-led-hid-fluorescent-offering-lamps-luminaires-control-systems-services-installation-type-new-replacement-retrofit-product-application-and-geography-glo-st-to-2023.html .
Explore more reports on Semiconductor and Electronics Market at http://www.reportsnreports.com/market-research/semiconductor-and-electronics .
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