Itron Profile
Itron, Inc. (Itron) is a global leader in energy and water management, smart city applications, Industrial Internet of Things (IIoT) and intelligent infrastructure and related services. For utilities and cities, the company builds innovative systems, create new efficiencies, connect communities, encourage conservation and increase resourcefulness by helping its customers make the most of the energy and water they manage. By safeguarding invaluable natural resources, the company seeks to improve the quality of life for people around the world.
Itron's proven platform enables smart networks, software, services, devices, and sensors to help the company's customers better manage their energy, water, and smart city operations. The company's comprehensive offerings control, measure, monitor, and provide data analytics and services that enable utilities and municipalities to manage their critical resources responsibly and efficiently.
The company supports a worldwide network of connected devices and sensors, and it focuses on developing more applications, new opportunities, and value-added outcomes for its customers in the future.
Business
The company's solutions include smart networks, software, services, devices, sensors, and data analytics upon a platform. The company's comprehensive solutions and data analytics also help its customers address operational issues, including increasing demand on resources, non-technical loss, leak detection, environmental and regulatory compliance, integrating renewable and distributed energy sources, and improving operational reliability.
The company's solutions include technology, software, and services delivered as part of a standalone, one-time purchase or an end-to-end solution over multiple years. The portfolio includes hardware products used for measurement, control, or sensing; a combination of endpoints and network infrastructure with embedded intelligence that is designed and sold as a complete solution to acquire and transport application-specific data; distribution automation - intelligent communication for the modern grid allowing secure, low and medium-voltage distribution-system automation and control; distributed energy resource management (DERMs) to connect, analyze, and optimize distributed energy resources such as rooftop solar installations and electric vehicles, water operations and management, gas operations and safety applications; and value-added services, software, and products that organize, analyze, and interpret data to gain insights, make decisions, and inform actions.
The company also offers managed services, Software-as-a-Service (SaaS), Network-as-a-Service (NaaS), technical support services, licensed hardware technology, and consulting services.
Segments
The company operates under the Itron brand worldwide and manages and reports under three segments: Device Solutions, Networked Solutions, and Outcomes.
Device Solutions - This segment primarily includes hardware products used for measurement, control, or sensing. These products generally do not have communications capability or may be designed for use with non-Itron systems. Examples from the Device Solutions portfolio include: standard endpoints that are shipped without Itron communications, such as the company's standard gas, electricity, and water meters for a variety of global markets and adhering to regulations and standards within those markets, as well as its heat and allocation products; communicating meters that are not a part of an Itron end-to-end solution and designed to meet market requirements; and the implementation and installation of said hardware products.
Networked Solutions - This segment primarily includes a combination of communicating devices (e.g., smart meters, modules, endpoints, and sensors), network infrastructure, and associated head-end management and application software designed and sold as a complete solution for acquiring and transporting robust application-specific data. Networked Solutions includes products and software for the implementation, installation, and management of communicating devices and data networks. The Industrial Internet of Things (IIoT) solutions supported by this segment include automated meter reading (AMR); advanced metering infrastructure (AMI) for electricity, water and gas; distributed energy resource management (DERMs); smart grid and distribution automation; smart street lighting; and leak detection and applications for both gas and water systems. The company's IIoT platform allows utility and smart city applications to be run and managed on a flexible multi-purpose network.
Outcomes - This segment primarily includes the company's value-added, enhanced software and services, artificial intelligence, and machine learning in which it enables grid edge intelligence and manage, organize, analyze, and interpret raw, anonymized data to improve decision making, maximize operational profitability, enhance resource efficiency, improve grid analytics, and deliver results for consumers, utilities, and smart cities. Outcomes supports high-value use cases, such as data management, grid operations, distributed intelligence, AMI operations, gas distribution and safety, water operations management, revenue assurance, DERMs, energy forecasting, consumer engagement, smart payment, and fleet energy resource management. Utilities leverage these outcomes to unlock the capabilities of their networks and devices, improve the productivity of their workforce, increase the reliability of their operations, manage and optimize the proliferation of distributed energy resources (DERs), address grid complexity, and enhance the customer experience. Revenue from these offerings are primarily recurring in nature and would include any direct management of Device Solutions, Networked Solutions, and other third-parties' products on behalf of the company's end customers.
Sales and Distribution
The company uses a combination of direct and indirect sales channels to serve its customers. This direct sales force focuses on solution selling, solving problems and business challenges, and delivering valuable outcomes to its utility and smart city customers. For smaller utilities and most municipalities, the company typically uses an indirect sales channel that extends the reach of Itron's solutions by providing trusted partners with the right tools, training, and technology to grow their business, deliver results, and help these customers better manage energy and water. These channels consist of distributors, agents, partners, and meter manufacturer representatives.
Research and Development
The company invested approximately $209 million in research and development in 2023.
Competition
The company's primary competitors include LM Ericsson Telephone Company, Landis+Gyr, Mueller Water Products, and Xylem, Inc.
History
Itron, Inc. was founded in 1977. The company was incorporated in 1977 in the state of Washington.
