Spectio: A Digital Lighting Company
Spectio Tech, founded in 2005, developed and implemented intelligent LED lighting solutions for the industrial market. Sensors and wireless connectivity embedded in its LED fixtures not only significantly reduced lighting-related energy use-by up to 90% in some cases-but also served as a tool for the Internet of Things (IoT) to expose powerful insights about facility use. Yet in 2016, few of Spectio's customers were fully embracing the system as an IoT product. Both LED lighting and IoT were rapidly evolving markets, and Spectio had to decide if it should focus on driving down lighting hardware costs to expand its total addressable market or on improving the software controls to enhance the system's IoT functionality.