SANTA CLARA, Calif.,
Dec. 6, 2017 /PRNewswire/
-- Internet of Things pioneer Echelon
Corporation (NASDAQ:ELON) is the top U.S.-based provider of
smart connected streetlight deployments according to a new global
study of the LED and smart street lighting market. The
independent study that analyzes and forecasts the market from 2017
through 2027 was just published by Northeast Group, LLC. This
report looks at 125 different countries and finds that the number
of smart streetlight projects is growing rapidly around the
world. Also according to the report, Echelon is the top
Western vendor of smart streetlights deployed in the Asia-Pacific region.
The study finds that smart street lighting will account for 29%
of the $64.2 billion total LED and
smart streetlight market by 2027. Municipalities and
utilities have embraced the benefits of LED lights, including
longer lamp lifetimes, reduced energy consumption and lower
maintenance expenses when compared with legacy
technologies. Connecting streetlights to make them
'smart' can further reduce costs, lower energy usage through
intelligent control of brightness and scheduling, and reduce
maintenance through actionable status reports on a streetlight's
condition. Smart connected lighting can also provide the foundation
for "smart city" applications.
"LED streetlights are transforming municipalities across the
globe," said Ben Gardner, President,
Northeast Group, LLC. "Adding smart technology to
streetlights is increasingly viewed as the first step towards smart
cities." Many cities are deploying smart streetlights
with the aim of later adding further applications. Among
other advantages, the study found that smart streetlights greatly
improve safety conditions in a city by reducing the "down time" of
streetlights. "In many cities that are managing rising street
crime, this will be a particularly strong benefit," said
Gardner.
As a pioneer in the IoT market, Echelon is in a unique position
to capitalize on this trend. Numerous cities around the globe
are deploying Echelon technology in their street light upgrades to
achieve greater cost savings and create a network for future smart
city enhancements.
"This detailed Northeast Group study shows that municipalities
around the world are increasingly recognizing the value in adding
smart technology to their streetlights, validating our investment
in this market," said Ron Sege,
Chairman and Chief Executive Officer, Echelon.
Northeast Group, LLC is a Washington,
DC-based smart infrastructure market intelligence firm. For
more information on this study, please
visit: www.northeast-group.com.
About Echelon Corporation
For 25 years Echelon (NASDAQ:ELON) has pioneered the development
of open-standard networking platforms for connecting, monitoring
and controlling devices in commercial and industrial applications.
With more than 140 million devices installed worldwide, Echelon's
proven, scalable solutions host a range of applications enabling
customers to reduce energy and operational costs, improve safety
and comfort, and create efficiencies through optimizing physical
systems. Echelon is focusing today on two IoT (Internet of Things)
market areas: creating smart cities and smart enterprises through
connected outdoor lighting systems, and enabling device makers to
bring connected products to market faster via a range of
IoT-optimized embedded systems. More information about Echelon can
be found at www.echelon.com.
Echelon, and the Echelon logo are trademarks of Echelon
Corporation that may be registered in the
United States and other countries. Other product or service
names mentioned herein are the trademarks of their respective
owners.
This press release may contain statements relating to future
plans, events or performance. Such statements may involve risks and
uncertainties, the risk that Echelon's offerings by themselves or
combined with other applications or offerings do not perform as
designed or do not offer the expected benefits and savings; and
other risks identified in Echelon's SEC filings. Actual results,
events and performance may differ materially. Readers are cautioned
not to place undue reliance on these forward-looking statements,
which speak only as of the date hereof. Echelon undertakes no
obligation to release publicly the result of any revisions to these
forward-looking statements that may be made to reflect events or
circumstances after the date hereof or to reflect the occurrence of
unanticipated events.
Thomas Cook
Echelon PR
tcook@echelon.com
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SOURCE Echelon Corporation