Philips Lighting Holding B.V. (Netherlands) and General Electric Company (GE) are the Top 2 Players in the Smart Pole Market:
The overall smart pole market is expected to grow at a CAGR of 19.99% between 2017 and 2023. The use of IoT technology in smart poles and demand for energy efficiency in developing economies offer key opportunities for the market. The need for energy-efficient pole lighting systems, increasing government initiatives for smart cities, and advantage in preventing traffic jams and accidents are some of the key factors driving the smart pole market.
The key players operating in the smart pole market largely comprise major players operating in different phases in the entire value chain of smart pole systems. These players 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). Most of the leading companies focus on organic growth strategies, such as product launches and developments, and inorganic strategies, such as agreements, partnerships, and collaborations, to boost their revenues.
Top 2 Players in the Smart Pole Market:
Philips Lighting Holding B.V. (Netherlands) is expected to hold the leading position in the global smart pole market due to its strong product offering. The company’s established market experience and well-known brand name have enabled it to capitalize on the fundamental market dynamics in the smart lighting industry and to deliver innovative solutions to create value and ensure growth. The company aims to further enhance its market leadership with its broad product portfolio, widespread distribution network, and strong brand recognition in the smart LED lighting and smart pole market by anticipating and managing the phase-out of conventional lighting products. For instance, in December 2015, Philips and the City of San Jose partnered to deploy the SmartPoles pilot project. In March 2016, the company launched the Philips DigiStreet range of road and street lighting luminaires designed to bring energy-efficient LED lighting to cities. This key strategy has helped Philips win numerous contracts to supply connected smart poles and other lighting control equipment.
General Electric Company (GE) is one of the world’s largest multinational conglomerates operating as an infrastructure and financial services company worldwide. GE’s Appliances and Lighting business segment includes the lighting products portfolio that is primarily directed at consumer applications under the Reveal and Energy Smart brands. From the third quarter of 2016, the former Energy Connections and Appliances & Lighting segments are presented under one reporting segment—Energy Connections & Lighting. GE Lighting offers a range of products from its well-known brands such as LightGrid Outdoor Wireless Control System, outdoor fixtures catering to different needs such as street and roadway lighting, tempered poles, non-tempered poles, straight poles, and brackets and mounting accessories. It also offers a range of smart lights, both new installations and retrofit installations. GE is working with several other companies and government agencies across the US to implement the LED technology in parking lots, garages, and streets to improve lighting during the nighttime for increased safety and security. For instance, in September 2014, GE launched Evolve LED Security Light with a rated lifetime of 100,000 hours. It is designed for applications such as outdoor work yards, commercial and roadside establishments, and roadway lighting in rural areas. The company also focuses on achieving inorganic growth through partnerships and agreements. For instance, in September 2015, GE Lighting entered into a partnership with the local government of San Diego, US, to implement GE’s intelligent cities platform on a pilot basis. This partnership is expected to improve the traffic conditions in the city and reduce energy consumption by street lights.
Related Reports:
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 to 2023
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