The world we live in becomes more connected every day, moving well beyond emails and social media to shared economy across many industries. For enterprises, the Internet of Things (IoT) presents huge opportunity to be more efficient, to find new ways to engage and keep customers and to transform the way business is conducted. Earlier this year, Verizon said in its “State of the Market Internet of Things 2015” report that there were more than 1.2 billion devices linked to IoT today, and there was likely to be 5.4 billion B2B connections across the globe by 2020.
The report also said that more and more of these connections were being made over the reliable 4G LTE network. Despite the huge potential and hype, the Internet of Things market is too fragmented, complex, and hard to scale for many enterprises and other organizations. According to Verizon’s IoT experts, the percentage of enterprises that have adopted IoT extensively rests at just 10 percent. Verizon brought the conversation about the Internet of Things to a new level this week when it introduced a comprehensive strategy to simplify IoT and accelerate adoption among consumers and businesses, and at the same time, bring more solutions to market. Verizon shared key parts of its strategy, including:
- The launch of ThingSpace, an exciting new IoT platform that will allow customers to manage their IoT deployments and all related data -- from device to network to application -- in an end-to-end way. The platform will also enable partners to market their services and most importantly, create opportunities for developers to build applications, all in an open environment. The introduction of ThingSpace lays the groundwork for Verizon to launch integrated solutions and for enterprises to implement IoT solutions quickly and easily.
- Verizon has always built its networks so customers can have a reliable foundation on which to build their businesses. IoT is no exception, and we have worked hard to build the 4G LTE network for the next generation of solutions, including creating a core IoT network that is designed specifically for Cat1 devices. This focus, combined with Verizon’s network expertise and plans for additional enhancements like Power Save Mode to facilitate several years of battery life, create more pathways for the adoption of IoT.
- And, once solutions are deployed, Verizon is commercializing its big data engine to help businesses gain more actionable insights. The platform is designed to take in massive amounts of data, quickly analyze it and turn that data into usable intelligence to improve the solutions.
Many other leading companies will be part of Verizon’s IoT ecosystem. These companies will help deliver technical, marketing and other solutions with the goal of accelerating adoption.