Silver Spring Networks (NYSE: SSNI)Date Published: 2016-08-12
Author: Ophir Gottlieb
Silver Spring Networks Inc. (NYSE: SSNI) is a company that is making waves in the connected cities and connected grid segments of the Internet of Things (IoT) and it may be a future gem.
Silver Spring Networks Inc. (NYSE: SSNI) operates as a networking platform and solutions provider for smart energy networks so cities can communicate with devices connected to the power grid. In English, this is an Internet of Things company that focuses on the smart city revolution touching grid lighting and power efficiency. Bringing networking solutions to cities and power grids around the world, the company is using the Internet of Things to transform aging infrastructures to smart cities and power grids. This is how the company introduces itself:
This wave of technology will be the fastest ever to be measured in trillions of dollars.
The install base of "connected things" in the utility sector is going to hit over 460 million within three years. Further, SSNI lives in the smart LED lighting world — an absolutely explosive trend for the future: According to research firm Gartner, smart LED lighting will grow from 6 million units in 2015 to 570 million units by 2020. Yes, basically a 100-fold increase.
Finally, we can look at the trend in LED lighting systems control component market:
The company measures its success by something called "endpoints," which are "the 'things' on a network which comprise the Internet of Things." In English, any device, sensor, or meter that requires connectivity that then communicates data. Last quarter SSNI delivered 747,000 additional endpoints. Silver Spring Networks (NYSE: SSNI) now has over 24.3 million cumulative network endpoints delivered from inception through June 30, 2016, up 13% from a year ago.
The author has no position in Silver Spring Networks (NYSE: SSNI) as of this writing.
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