Echelon Ranked Among Top Three In Smart Street Lighting Systems Deployed Worldwide
Internet of Things pioneer Echelon Corporation (NASDAQ:ELON) is ranked among the top three providers of smart connectivity deployments in a global study of the LED and "smart" networked street lighting market.
Internet of Things pioneer Echelon Corporation (NASDAQ:ELON) is ranked among the top three providers of smart connectivity deployments in a global study of the LED and "smart" networked street lighting market. The independent study was recently published by Northeast Group, LLC which analyzes and forecasts the market from 2016 through 2026, and finds that the next wave of Internet of Things (IoT) investment will take place in the public outdoor street lighting market. According to the report, "Echelon was an early mover in the smart streetlight field." The company also captured the number one position in Asia-Pacific for installed market share. According to the study, global investment in public LED street lighting will be $57 billion between 2016 and 2026. Driving this market opportunity is a paradigm shift where legacy streetlights are being replaced with new and more efficient LED, or solid-state lighting technology. These LED streetlights are being networked together with communications to become smart streetlights, creating the foundation for a growing range of impactful smart city applications over time. "As part of the research for the study, we surveyed more than 100 US cities, towns, and municipalities that were early adopters of LED streetlight deployments, and we found that residents enjoyed more comfortable, adaptive light, law enforcement officials cited public safety improvements and city leaders overall recognized significant energy and cost savings," said Ben Gardner, President, Northeast Group, LLC. "Given these clear advantages, the business case for LED and smart streetlights has only grown stronger. Our current study projects that LED and smart streetlights will reach 89% and 42% of the total streetlight market, respectively, by 2026." The study highlights the fact that communications networks can be used to link additional items beyond streetlights such as traffic lights, parking meters and a number of smart city sensors. Smart streetlights also greatly improve safety conditions because the automated technology alerts officials when street lights go out, so downtime is almost eliminated.