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Verizon believes that some of the world’s top companies could become 10% more profitable by 2025, if they used IoT products and solutions extensively. Verizon’s IoT Strategy Image Source: Verizon. Verizon’s Internet of Things (IoT) solutions span a wide range of industries, including agriculture, construction, energy and utilities, healthcare, manufacturing, the public sector, and more.

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ThingSpace incorporates a separate 4G LTE network for IoT devices that use small amounts of data. Verizon says it wants to lower the cost for IoT devices to connect to the Internet, which could in turn boost their prevalence. Verizon’s Recent IoT Developments Verizon recently launched a new IoT initiative called ThingSpace. The wireless technology is designed to connect industrial, medical, automotive, and consumer devices to the Internet.

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Where Verizon’s IoT Growth Comes From The above graph shows how much machine-to-machine (M2M) connections increased on Verizon’s network between 2013 and 2014. Percent

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How Much Verizon Makes from the IoT In 2014, Verizon‘s IoT revenue grew 45% to $585 million. In the first nine months of 2015, its IoT revenues were about $495 million, with $175 million of that coming in the third quarter. Image Source: Verizon.

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The company manages fleets, cargo, and energy with its IoT solutions, and connects nearly 4.8 million vehicles to the Internet. AT&T’s IoT Strategy AT&T is leading the charge in IoT connectivity, with more M2M connections in North America than any other carrier, and a plethora of IoT services. Image Source: AT&T.

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AT&T recently set up a Smart Cities Organization to expand its leadership in the space. The company will bring connectivity solutions to industrial equipment and provide cloud-based technology for real-time energy management. AT&T’s Recent IoT Developments While it’s known for its connected cars, AT&T is also a leading connector of smart cities. The company manages data from 16.5 million smart meters in the U.S., and recently expanded its smart city ambitions. Image Source: AT&T.

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AT&T has IoT agreements with more than 136 companies across agriculture, automotive, aviation, energy, healthcare, transportation, and security industries. The carrier already connects 23 million IoT devices to its network. Why AT&T is an IoT leader By the end of this year, AT&T expects to connect nearly 50% of all newly Internet-enabled U.S. passenger vehicles. Currently, the carrier already connects more than 40% of Internet-enabled farm machines in the United States. Image Source: AT&T.

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How Much AT&T Makes from the IoT AT&T is much more tight-lipped about its Internet of Things revenue than Verizon is, but estimates from Chetan Sharma Consulting peg AT&T’s 2015 IoT revenue for its connected car business at $1 billion. Image Source: AT&T.

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