50% CAGR predicted for smart poles as a platform for new services and revenue
Source: Smart Cities World Published: Feb. 14, 2020
Navigant Research predicts a bright future for smart poles due to their versatility and adaptability for the future.
Smart pole deployments are expected to see a 50 per cent compound annual growth rate (CAGR) to 2028, according to new analysis from Navigant Research.
Smart poles are a relatively new addition in smart cities and incorporate sensor and communications technologies. By providing connection to the electricity grid and a physical location along streets, smart poles are increasingly being used to host mobile broadband small cells and public wi-fi access points, as well as other smart city technologies such as smart lighting systems and multi-purpose sensor arrays (for air quality, traffic count, and gunshot detection).
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Navigant Research forecasts 22,000 annual smart pole deployments by 2028, compared to 600 in 2019.
“Though a nascent market, several smart pole drivers have emerged, including current and future needs for public connectivity and cellular network densification,” said 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, a key driver for growth is the fact that the multi-faceted and often modular design of smart poles can be easily adapted to future needs. The roll-out of 5G and the accelerating adoption of smart city strategies are also expected to increase demand for connected infrastructure such as smart poles.