Verizon says Internet of Things is entering a new age in digital space by becoming mainstream in the field of Smart Cities and cited recent deals by big players such as Cisco, GE and IBM.
A report said there is a drastic leap from 2014’s connected IoT device count of 9.7 billion to a whopping 30 billion by 2020.
A company official said IoT is less about devices and more about use cases, lending itself to innovation.
This claim is bolstered by an earnings figure from Verizon’s IoT department of $690 million for 2015. The number indicated year-on-year growth of about 18 per cent for Verizon’s IoT products.
Verizon is also projecting IoT solutions for healthcare, transport, energy and agriculture, each of which will have their own separate team and management within the company.