Increasing demand for integrated security and safety systems for improved public safety is a major factor driving global smart poles market revenue growth

VANCOUVER, BC, CANADA, January 18, 2023 /EINPresswire.com/ -- The global smart poles market size was USD 7.52 billion in 2021 and is expected to register a revenue CAGR of 20.7% during the forecast period, according to latest analysis by Emergen Research. Market revenue growth is primarily driven by rising demand for established robust infrastructure for proper traffic management and surge in adoption of connected devices and latest technologies for a variety of tasks. Smart poles are being widely used in important locations such as public spaces, roadways, highways, harbors, and railways and by governments of many cities to offer Wi-Fi connectivity to their residents. In addition, smart poles are ensuring a positive future development with a wide range of applications and growing public awareness. Businesses are optimistic about rising investments in the Architectural, Engineering, and Construction (AEC) sector. To acquire a competitive edge in local, regional, and worldwide markets, all businesses should engage in R&D initiatives and design talents. This is surging demand for smart poles and hence, driving market revenue growth at an exponential rate throughout the forecast period, but established businesses will face fierce competition from startups.

Furthermore, governments in various regions have created rules to efficiently use and control electricity consumption. A few regulations made mandatory by various authorities include European 2020 energy objectives to reach net-zero energy consumption in public and private buildings as well as China's five-year plan for energy potency goals. Such laws encourage rising use of intelligent lighting controls over the forecast period. In addition, there is a growing understanding among end users about efficiency of intelligent lighting controls in controlling electricity usage in addition to costs. Intelligent lighting controls allow for efficient use of energy and minimized electricity waste. Moreover, one of the key elements increasing use of intelligent lighting controls globally is rise in consciousness. This helps manufacturers to implement technological advancements in materials that support market revenue growth during the forecast period. However, poor infrastructure in some developing and underdeveloped countries is expected to hinder market revenue growth during the forecast

 The major companies Covered in the report are:

Signify Holding (Koninklijke Philips N.V.), Acuity Brands Lighting, Inc., Eaton, Wolfspeed, Inc., Hubbell, Savant Technologies LLC. (GE Lighting), Lumca, Efftronics Systems Pvt. Ltd., iRam Technologies Pvt. Ltd., Siemens, and Wipro.

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Emergen Research has segmented the global smart poles market based on pole type, component type, installation type, end-use, and region:

Pole Type Outlook (Revenue, USD Billion; 2019-2030)

Dual Arm

Single Arm

Round

Component Type Outlook (Revenue, USD Billion; 2019-2030)

Hardware

Lighting Lamp

Light-Emitting Diode (LED) Lamp

Fluorescent Lamp

High-Intensity Discharge (HID) Lamp

Pole Bracket and Pole Body

Communication Device

Ballast

Lamp Controller

Others

Software

Services

Installation

Maintenance

Installation Type Outlook (Revenue, USD Billion; 2019-2030)

New Installation

Retrofit

End-Use Outlook (Revenue, USD Billion; 2019-2030)

Highways and Roadways

Public Streets

Railways and Harbors

Regional Outlook (Revenue, USD Billion; 2019–2030)

North America

U.S.

Canada

Mexico

Europe

Germany

UK

France

Italy

Spain

Sweden

BENELUX

Rest of Europe

Asia Pacific

China

India

Japan

South Korea

Rest of APAC

Latin America

Brazil

Rest of LATAM

Middle East & Africa

Saudi Arabia

UAE

South Africa

Israel

Rest of Middle East & Africa

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Key highlights of this research report:

The biosensors segment accounted for a significant revenue share in 2021. Biosensors can detect the smallest physiological changes in human body through accurate process monitoring and high sensitivity, which may be utilized to improve quality of life. Recent improvements in biological approaches incorporating fluorescent tags on nanomaterials have raised sensitivity limit of biosensors. Metal nanoparticles, nanowires, and graphene have been combined with affinity biosensors, making them an excellent tool for COVID-19 detection while also improving analytical performance. For example, GRIP Molecular Technologies, is developing graphene-based electronic biosensor technology that will allow for simultaneous, quick, and accurate detection of infectious illnesses such as COVID-19.

The strip sensors segment accounted for a significant revenue share in 2021. Strip sensors are commonly used in blood glucose monitoring, disease diagnostics, and magnetic nanoparticle detection. In addition, strip sensors are widely utilized because they are affordable and simple to use. Another advantage of employing strip sensors is that the findings are acquired more rapid. Furthermore, the industry is being fueled by demand for self-diagnosis and home-based medical equipment.

The North America market accounted for largest revenue share in 2021 owing to increasing prevalence of chronic disorders in this region. In addition, presence of key players is also driving revenue growth of the market. For instance, in May 2020, BioIntelliSense, Inc., a continuous health monitoring and clinical intelligence firm, announced the release of BioButton device, which expands its medical-grade biosensor product line and Data-as-a-Service (DaaS) platform.

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Smart Poles Market Size Worth USD 39.00 Billion in 2030