New Report Finds Smart Pole Deployments Are Expected to Experience a 50% Compound Annual Growth Rate
A new report from Navigant Research provides global market forecasts of smart pole hardware and services, broken out by segment and region, through 2028.
Smart poles are a new feature in urban landscape that leverage sensor and communications technologies to create an intelligent environment. By providing connection to the electricity grid and a physical location along streets and pathways, smart poles offer an attractive host for mobile broadband small cells as well as public Wi-Fi access points. Smart poles are also well positioned to provide a platform for other smart city technologies including smart lighting systems and sensor arrays.
According to the report, global annual deployments of smart poles are expected to increase from less than 600 in 2019 to more than 22,000 in 2028, experiencing a compound annual growth rate (CAGR) of 50.8%.
“Though a nascent market, several smart pole drivers have emerged, including current and future needs for public connectivity and cellular network densification,” says Grant Samms, research analyst at Navigant Research. “Municipalities are also seeing smart poles as infrastructure that can create new revenue streams and improve public safety by providing charging for electric vehicles, charging for cellular phones, a platform for advertising, and other features.”
According to the report, the multifaceted and often modular design of smart poles can be easily adapted to future needs. The emergence of 5G and the accelerating adoption of smart city strategies is expected to drive increasing demand for this connected infrastructure.