Smart Pole Market Size, Share & Trends Analysis Report By Component (Hardware, Software, Service), By Hardware, By Installation Type, By Application, By Region, And Segment Forecasts, 2023 - 2030

Research Methodology

A three-pronged approach was followed for deducing the smart pole market estimates and forecasts. The process has three steps: information procurement, analysis, and validation. The whole process is cyclical, and steps repeat until the estimates are validated. The three steps are explained in detail below:

Information procurement: Information procurement is one of the most extensive and important stages in our research process, and quality data is critical for accurate analysis. We followed a multi-channel data collection process for smart pole market to gather the most reliable and current information possible.

• We buy access to paid databases such as Hoover’s and Factiva for company financials, industry information, white papers, industry journals, SME journals, and more.
• We tap into Grand View’s proprietary database of data points and insights from active and archived monitoring and reporting.
• We conduct primary research with industry experts through questionnaires and one-on-one phone interviews.
• We pull from reliable secondary sources such as white papers and government statistics, published by organizations like WHO, NGOs, World Bank, etc., Key Opinion Leaders (KoL) publications, company filings, investor documents, and more.
• We purchase and review investor analyst reports, broker reports, academic commentary, government quotes, and wealth management publications for insightful third-party perspectives.

Analysis: We mine the data collected to establish baselines for forecasting, identify trends and opportunities, gain insight into consumer demographics and drivers, and so much more. We utilized different methods of smart pole market data depending on the type of information we’re trying to uncover in our research.

• Market Research Efforts: Bottom-up Approach for estimating and forecasting demand size and opportunity, top-down Approach for new product forecasting and penetration, and combined approach of both Bottom-up and Top-down for full coverage analysis.

• Value-Chain-Based Sizing & Forecasting: Supply-side estimates for understanding potential revenue through competitive benchmarking, forecasting, and penetration modeling.

• Demand-side estimates for identifying parent and ancillary markets, segment modeling, and heuristic forecasting.

• Qualitative Functional Deployment (QFD) Modelling for market share assessment.

Market formulation and validation: We mine the data collected to establish baselines for forecasting, identify trends and opportunities, gain insight into consumer demographics and drivers, and so much more. We utilize different methods of data analysis depending on the type of information we’re trying to uncover in our research.

• Market Formulation: This step involves the finalization of market numbers. This step on an internal level is designed to manage outputs from the Data Analysis step.

• Data Normalization: The final market estimates and forecasts are then aligned and sent to industry experts, in-panel quality control managers for validation.

• This step also entails the finalization of the report scope and data representation pattern.

• Validation: The process entails multiple levels of validation. All these steps run in parallel, and the study is forwarded for publishing only if all three levels render validated results.

Smart Pole Market Categorization:

The smart pole market was categorized into five segments, namely component (Hardware, Software, Service), hardware (Lighting Lamp, Pole Bracket & Pole Body, Communication Device, Controller), installation type (New Installation, Retrofit Installation), application (Highways & Roadways, Public Places, Railways & Harbors), and region (North America, Europe, Asia Pacific, Latin America, and Middle East & Africa).

Segment Market Methodology:

The smart pole market was segmented into component, hardware, installation type, application, and regions. The demand at a segment level was deduced using a funnel method. Concepts like the TAM, SAM, SOM, etc., were put into practice to understand the demand. We at GVR deploy three methods to deduce market estimates and determine forecasts. These methods are explained below:

Market research approaches: Bottom-up

• Demand estimation of each product across countries/regions summed up to from the total market.

• Variable analysis for demand forecast.

• Demand estimation via analyzing paid database, and company financials either via annual reports or paid database.

• Primary interviews for data revalidation and insight collection.

Market research approaches: Top-down

• Used extensively for new product forecasting or analyzing penetration levels.

• Tool used invoice product flow and penetration models Use of regression multi-variant analysis for forecasting Involves extensive use of paid and public databases.

• Primary interviews and vendor-based primary research for variable impact analysis.

Market research approaches: Combined

• This is the most common method. We apply concepts from both the top-down and bottom-up approaches to arrive at a viable conclusion.

Regional Market Methodology:

The smart pole market was analyzed at a regional level. The globe was divided into North America, Europe, Asia Pacific, Latin America, and Middle East & Africa, keeping in focus variables like consumption patterns, export-import regulations, consumer expectations, etc. These regions were further divided into nine countries, namely, the U.S.; Canada; Germany; the UK; China; India; Japan; Brazil; Mexico.

All three above-mentioned market research methodologies were applied to arrive at regional-level conclusions. The regions were then summed up to form the global market.

Smart pole market companies & financials:

The smart pole market was analyzed via companies operating in the sector. Analyzing these companies and cross-referencing them to the demand equation helped us validate our assumptions and conclusions. Key market players analyzed include:

• Cree, Inc. - American company Cree, Inc. produces lighting goods, LEDs for lighting purposes, and radio frequency equipment for electricity. Inverters, power supplies, wireless systems, electronic signs and signals, indoor and outdoor lighting, and video displays are just a few of the product applications that the firm offers. The company's geographical reach includes Asia Pacific, Europe, and North America. Among other U.S. states, Arizona, North Carolina, Arkansas, and California are home to its production plants. The acquisition of Cree, Inc.'s Lighting Products business unit (formerly known as "Cree Lighting") to IDEAL INDUSTRIES, Inc. was completed, the company announced in May 2019. The two main business segments for the firm are LED products and Wolfspeed. Wide bandgap semiconductor materials, power devices, silicon-based RF devices, and materials for silicon carbide and gallium nitride are all offered by the Wolfspeed division. Products like LED chips and components make up the LED category. Additionally, the business plays a key role in providing customers with specialized LED products for lighting, automotive, video displays, and other uses.

• Eaton Corporation - Eaton Corporation is a power management provider, offering electrical, hydraulic, and mechanical power system management solutions. It operates internationally and distributes its goods to more than 175 nations. It is divided into 5 business segments: Hydraulics, Aerospace, Vehicle, eMobility, Electrical Americas & Electrical Global. Industrial components, electrical components, home goods, power distribution and assemblies, fire detection systems, structural support systems, circuit protection systems, emergency lighting systems, and lighting products are all offered under the Electrical Americas section. Power distribution assemblies and solutions, explosion-proof instrumentation, hazardous-duty electrical equipment, utility power distribution equipment, power reliability equipment, and services are all provided under the Electrical Global business. Government, business, industrial, residential, utility, and information technology are the main markets for each category. The Hydraulics section focuses on producing hydraulic systems, parts, and services for industrial and mobility applications. For both commercial and military use, the Aerospace section provides hydraulics, aerospace fuel, and pneumatic systems. The business's Vehicle section develops and produces drivetrain and powertrain system components for automobiles, light trucks, and commercial vehicles.

• Echelon - In addition to a range of devices needed for the development of industrial control networking technologies and building automation, Echelon provides open-standards-based lighting control solutions. The Lumewave and LumInsight names are used by the firm to market a variety of control networking products. A software-based central management system, gateways for linking control nodes, and wired and wireless control nodes are among the options. Echelon serves application domains including industrial control, communications, transportation, smart buildings, smart cities, smart poles, and medical technology. The company's IIoT solutions allow the interconnection of equipment including light switches, thermostats, air elevators, power meters, and valves. The business supplies original equipment manufacturers and systems integrators that meet the demands of several application sectors, including building automation, transportation, and industrial automation, with its goods and services.

• General Electric Company - Aviation, healthcare, lighting, electricity, energy, transportation, and finance are just a few of the many businesses and areas that the multinational company General Electric Company operates in. The business is active in over 170 nations, such as the United States, Canada, Brazil, Mexico, France, Germany, the United Kingdom, Switzerland, China, Japan, India, Malaysia, Australia, Israel, Jordan, Egypt, and South Africa. Baker Hughes, GE Healthcare, Nuovo Pignone S.p.A., CFM International, Meridium, and Concept Laser GmbH are the company's principal subsidiaries. The business has been divided into four industrial segments by the company: Power, Renewable Energy, Aviation and Healthcare, and Capital, the financial services component. Savant Systems, Inc. successfully bought GE Lighting in July 2020, while American International Partners purchased the current firm in November 2018. Will continue to utilize the GE brand going forward.

• Siemens AG - Siemens AG is a technology company that specializes in digital healthcare services and medical technology, smart mobility solutions for roads and rail, automation, and digitalization in the manufacturing and process industries, smart infrastructure for distributed energy systems and buildings, and conventional and renewable power generation and distribution. The corporation operates production and distribution facilities throughout the Middle East, Asia Pacific, Europe, Latin America, and North America. Mendix, Mentor, Parallel Graphics Limited, Siemens Financial Services GmbH, and Dresser-Rand are the company's principal subsidiaries. The business has been divided by the corporation into reportable business divisions, which together make up Siemens Financial Services (SFS) and Industrial companies, such as Smart Infrastructure, Digital Industries, Mobility, and Siemens Healthineers.

• Signify Holding - Internet of Things, professional, and consumer lighting are all supplied by Signify Holding. Additionally, the firm offers systems, services, and goods for energy-efficient lighting. In addition to having collaborations with over 100 colleges worldwide, the corporation is the registered owner of around 18,250 patents. Using Division Digital Solutions, Division Digital Products, and Division Conventional Products as its three operating divisions, the firm's LED lights, luminaires, lamps, LED tubes, and decorative lighting are all part of the company's product line. The majority of the industry verticals use the company's offerings. Additionally, the firm provides a range of services, including project management, financial consultancy for capital management, lighting system maintenance, and consulting for the improvisation of lighting systems. The company's professional lighting, LED, and lamps segment accounts for the majority of its sales. The business is regionally present in the Americas, Europe, and other foreign markets.

• Silver Spring Networks, Inc. - A networking platform and solutions for converting a power grid organization into a smart grid organization are provided by Silver Spring Networks, Inc. Hardware components including relays and access points, management and security software GridScape, and network operating software UtilOS make up the company's networking platform. For industrial IoT, smart cities, smart utilities, services, technology, and intelligent devices, Silver Spring Networks, Inc. provides smart city and smart street lighting solutions. Streetlights and smart city services are provided by the smart cities section. Meanwhile, demand-side management, distributed energy resources, sophisticated metering, analytics, customer education and engagement, grid management, and lighting are all provided by the smart utilities sector. In addition, the firm provides a range of services for mesh design, monitoring and maintenance, business system integration, installation assistance, and training related to its smart streetlight solution.

• Telensa Inc. - Telensa Inc. is one of the top providers of smart streetlight control systems. Over two million smart lights have been installed by the firm in several nations, including the United States, Canada, Brazil, Mexico, France, Germany, the United Kingdom, Switzerland, and China. Additionally, it provides tailored smart lighting solutions according to end users' specifications. North America, Europe, Latin America, and the Asia Pacific area are home to the company's manufacturing and distribution facilities. Signify Holdings, Inc. announced the acquisition of Telensa Inc. in July 2021. Telensa Inc. will keep using its brand name to market its systems. The technology from Telensa makes it easier for streetlights and base stations to communicate via UNB. Base stations can receive signals from up to 5,000 streetlights and use cellular connections to transfer data to a control center that can oversee a far greater number of lamps. The business also offers a range of smart polee-related software and services. Additionally, it is concentrating on entering the NB-IoT communications industry to combine sophisticated communication controllers with smart polees.

• Wipro Limited - Information technology firm Wipro Limited provides business process and consulting services. The firm assists its clients in adjusting to the digital environment by utilizing the cloud, robots, hyper-automation, analytics, new technologies, and cognitive computing. With more than 170,000 committed workers, the organization serves customers on six continents. WIT is the NYSE listing for it. The three main business sectors of the corporation are the India State Run Enterprise (ISRE) segment, IT Services, and IT Products. A range of IT and IT-enabled services are provided by the company's IT Services division. Along with a variety of third-party IT products, the IT Products section offers IT system integration services. The company also offers its services to businesses in a range of sectors, mostly in the Middle East and India. These sectors include government, manufacturing, utilities, telecommunications, financial services, defence, IT and IT-enabled services, and education.

• Zumtobel Group - The Zumtobel Group is a supplier of LED and OLED technologies, lighting components, lighting management systems, and outdoor and interior lighting. The subsidiaries of Zumtobel, Reiss, Thorn, ACDC, and Tridonic are also a part of the firm. Luminaires are mostly used outside to illuminate streets and public spaces. The lighting and components sectors comprise the two business divisions. The company's lighting business includes luminaries, indoor and outdoor lighting systems, and lighting management services. In addition to OEM brand Reiss, the company's brands include Thorn, Zumtobel, and ACDC. Light-Emitting Diodes (LED) converters, traditional lighting components, LED/OLED modules, connection technologies, and lighting management systems are the main areas of concentration for the components business, which is marketed under the Tridonic and ACDC brands.

Value chain-based sizing & forecasting

Supply Side Estimates

• Company revenue estimation via referring to annual reports, investor presentations, and Hoover’s.

• Segment revenue determination via variable analysis and penetration modeling.

• Competitive benchmarking to identify market leaders and their collective revenue shares.

• Forecasting via analyzing commercialization rates, pipelines, market initiatives, distribution networks, etc.

Demand side estimates

• Identifying parent markets and ancillary markets

• Segment penetration analysis to obtain pertinent

• revenue/volume

• Heuristic forecasting with the help of subject matter experts

• Forecasting via variable analysis

Smart Pole Market Report Objectives:

• Understanding market dynamics (in terms of drivers, restraints, & opportunities) in the countries.

• Understanding trends & variables in the individual countries & their impact on growth and using analytical tools to provide high-level insights into the market dynamics and the associated growth pattern.

• Understanding market estimates and forecasts (with the base year as 2022, historic information from 2017 to 2021, and forecast from 2023 to 2030). Regional estimates & forecasts for each category are available and are summed up to form the global market estimates.

Smart Pole Market Report Assumptions:

• The report provides market value for the base year 2022 and a yearly forecast till 2030 in terms of revenue/volume or both. The market for each of the segment outlooks has been provided on region & country basis for the above-mentioned forecast period.

• The key industry dynamics, major technological trends, and application markets are evaluated to understand their impact on the demand for the forecast period. The growth rates were estimated using correlation, regression, and time-series analysis.

• We have used the bottom-up approach for market sizing, analyzing key regional markets, dynamics, & trends for various products and end-users. The total market has been estimated by integrating the country markets.

• All market estimates and forecasts have been validated through primary interviews with the key industry participants.

• Inflation has not been accounted for to estimate and forecast the market.

• Numbers may not add up due to rounding off.

• Europe consists of EU-8, Central & Eastern Europe, along with the Commonwealth of Independent States (CIS).

• Asia Pacific includes South Asia, East Asia, Southeast Asia, and Oceania (Australia & New Zealand).

• Latin America includes Central American countries and the South American continent

• Middle East includes Western Asia (as assigned by the UN Statistics Division) and the African continent.

Primary Research

GVR strives to procure the latest and unique information for reports directly from industry experts, which gives it a competitive edge. Quality is of utmost importance to us, therefore every year we focus on increasing our experts’ panel. Primary interviews are one of the critical steps in identifying recent market trends and scenarios. This process enables us to justify and validate our market estimates and forecasts to our clients. With more than 8,000 reports in our database, we have connected with some key opinion leaders across various domains, including healthcare, technology, consumer goods, and the chemical sector. Our process starts with identifying the right platform for a particular type of report, i.e., emails, LinkedIn, seminars, or telephonic conversation, as every report is unique and requires a differentiated approach.

We send out questionnaires to different experts from various regions/ countries, which is dependent on the following factors:

• Report/Market scope: If the market study is global, we send questionnaires to industry experts across various regions, including North America, Europe, Asia Pacific, Latin America, and MEA.

• Market Penetration: If the market is driven by technological advancements, population density, disease prevalence, or other factors, we identify experts and send out questionnaires based on region or country dominance.

The time to start receiving responses from industry experts varies based on how niche or well-penetrated the market is. Our reports include a detailed chapter on the KoL opinion section, which helps our clients understand the perspective of experts already in the market space.