Verizon Communications Inc. (NYSE: VZ) Expands Internet Of Things Connectivity Globally To Compete With AT&T (NYSE: T)

Verizon Communications Inc. (NYSE: VZ) is expanding its Internet of Things (IoT) connectivity globally, implying it is bringing IoT to 170 nations and activating eSIM tech users. Enterprises will no enjoy Verizon Business’ IoT connectivity with permanent roaming in Western Europe and North America all on the eSIM. 

Verizon Business expanding IoT connectivity to 170 countries 

With the global coverage, organizations can now manage a range of IoT devices that include asset trackers, sensors, and industrial gateways through Verizon’s IoT platform, ThingSpace. The expansion will now enable US Multinational enterprises to contract locally. The rapid growth of faster, secure, and affordable cellular connectivity has paved the way for massive IoT device growth. According to industry analysts IDC, by 2025, there will be more than 150,000 IoT devices connecting per minute. 

Tami Erwin, Verizon Business CEO, said that IoT is transforming how enterprises monitor devices and enhance the strategic business value of collected data. Erwin said that IoT devices are multiplying, and businesses prefer to align with trusted tech partners that can offer required geo-scale and technical expertise. He added that the company’s global IoT connectivity is underpinned by the company’s ThingSpace platform and years of expertise and transformation into 5G Massive IoT. 

Industrial IoT benefits growing globally.  

During the company’s March investment Day, Erwin said that they are starting to witness the benefits of industrial IoT investments. In 2020 the company added 10 million Machine-to-machine LTE devices and delivered double-digit revenue growth and connections. In 2021, Verizon expects continued growth as it expands IoT practice and installs devices supporting the transformation from 4G to 5G. 

Following the pandemic, the company has witnessed substantial demand in cross-border asset tracking and DIY-connected alarm systems. Verizon’s primary motivator seems to be AT&T (NYSE: T) which has spent years growing its IoT business and expanded its services globally, including with car companies.  James Brehm & Associates’ strategic intelligence VP said that Verizon would be trying to compete with AT&T in the IoT space. 

Published by Chris Brown

About Me: I have a Phd in Economics Gender: Male Interests: Playing games like cricket, volleyball Favorite Music: hip hop, rock, jazz

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