LIBERTY LAKE, Wash. — May 22, 2019 — Itron, Inc. (NASDAQ: ITRI), which is innovating the way utilities and cities manage energy and water, has been named a global market share leader in deployed and publicly awarded smart streetlight communications projects by Northeast Group LLC, a market intelligence firm with expertise in the smart infrastructure sector. The independent study, Global Smart Street Lighting & Smart Cities: Market Forecast (2019 – 2028), released in May of 2019, found that cities and utilities will network up to 72 million streetlights over the next 10 years.
Itron manages more than 3 million streetlights globally with its open, standard-based network, which creates a foundation for cities and utilities to enable smart city applications that address an array of challenges around smart transportation, resilient and sustainable infrastructure, public safety and security, and digital services. Itron’s growing market share and global leadership in smart lighting reflects a broader trend in the market. Given their diverse operational needs, cities and utilities are moving away from single-purpose solutions and taking a platform approach to their digital industrial IoT (IIoT) initiatives. Itron’s globally proven platform and developer program enable a vibrant and growing partner ecosystem to provide customers with superior flexibility and choice.
Utilities in particular are ramping-up adoption of smart street lighting. Having demonstrated value from their smart energy and water initiatives, many utilities are exploring opportunities to leverage Itron’s industry-leading Field Area Networks (FAN) to extend the value of their infrastructure investments and smart lighting is a natural fit. Beyond the energy savings of the LED streetlight, smart street lighting offers a wide range of benefits, including improved network resiliency, enhanced safety, and increased customer satisfaction.
“As noted in the report, the Smart Street lighting industry is seeing a lot of momentum as cities and utilities are taking a platform approach to roll out their smart city initiatives,” said Itai Dadon, director of IIoT and smart cities at Itron. “With decades of expertise in providing critical infrastructure, Itron’s proven platform equips utilities and cities to lead the way in delivering integrated, smart city technology that fits their specific needs.”
“The global street lighting market is evolving at a rapid pace. LED luminaires are becoming the default as existing streetlights expire and smart streetlights are forming the basis of more expansive smart city projects,” said Ben Gardner, president of Northeast Group. “We estimate that LED smart street lighting and smart city sensors will see $8 billion in investment from 2019 to 2028. This growth will include over 216 million LED streetlights and nearly 72 million streetlights that will be networked.”
Itron enables utilities and cities to safely, securely and reliably deliver critical infrastructure services to communities in more than 100 countries. Our portfolio of smart networks, software, services, meters and sensors helps our customers better manage electricity, gas and water resources for the people they serve. By working with our customers to ensure their success, we help improve the quality of life, ensure the safety and promote the well-being of millions of people around the globe. Itron is dedicated to creating a more resourceful world. Join us: www.itron.com.
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