Verizon is making a bigger push into the Internet of Things.
At a press event in San Francisco Wednesday, the company revealed its far-reaching plan to make a dent in the rapidly growing space. Verizon's strategy revolves around a new web-based platform for developers, new partnerships and using its LTE network to help companies get devices online faster.
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At the heart of Verizon's strategy is a new web-based developer platform called Thingspace, which helps companies create apps services to manage connected devices. During the event Wednesday, Mike Lanman, Verizon's senior vice president of Enterprise products, said the company's goal is to make it easier for developers and companies of all sizes to build for Internet of Things and to combat the current fragmentation within the ecosystem.
“Continued innovation in smart cities, connected cars and wearables demonstrates that IoT is the future for how we will live and work,” Lanman said in a statement. “Despite the exciting potential, IoT is still too complex, too fragmented, too expensive to connect and too hard to scale."
Verizon joins a growing list of tech giants -- Samsung, Qualcomm and Google, to name a few -- who all have their eye on leading the Internet of Things space. But Verizon says it can offer a few advantages over its competition like its expansive LTE network. The company has created a network within its LTE network that's optimized for embedded devices. Verizon says this will simplify the process of setting up and connecting devices.
Verizon has already made $495 million on Internet of Things, the company announced Wednesday, and Verizon says it plans to expand its efforts to the connected car, agriculture and smart cities projects through its new initiatives.
BONUS: What is the Internet of Things