“Without change there is no innovation, creativity, or incentive for improvement. Those who initiate change will have a better opportunity to manage the change that is inevitable.”
What do Apple, Virgin Galactic, Tesla and Verizon have in common? These companies share a unique business DNA that pushes them to be first to the market in innovations and technological advancement. They prove this to us over and over again.
Those of us in telecommunications are lucky to be part of an industry that is going through an unprecedented technological transformation: telco cloud, machine-to-machine communications, 5G technologies, and this complex, and at times mysterious, concept called the Internet of Things (IoT).
Here in the US, Verizon’s recent launch of its ThingSpace IoT platform was a concrete move to take some of the mystery and complexity out of IoT and demonstrate its commitment to driving the industry forward. This platform allows developers to create applications, customers to manage their devices and analyze their data, and Verizon partners to market their services.
Mike Lanman, Verizon's senior vice president of enterprise, noted that just this year the technology company has grown IoT revenues to nearly half-a-billion dollars and the growth continues in double digits. Despite this, Verizon is convinced that the IoT market remains underserved, fragmented, complex and expensive to enter. And once again they are driving transformation and change to accelerate the adoption IoT.
Verizon has simplified the complex system integration involved with IoT solutions and has reduced access costs by creating a core IoT network within Verizon’s LTE architecture that is optimized for Cat1 devices. The new Sequans Cat1 chipset for LTE-connected machine-to-machine (M2M) and IoT devices cuts the cost of connecting to the 4G LTE network in half. In fact, both costs associated with modules and connections to the WAN network have fallen dramatically and will continue to drop more into 2016.
It’s exciting to see that IoT solutions are finally starting to move out of labs and test environments into our everyday lives. At its Innovation Center in San Francisco, Verizon showcased several commercially available solutions that are paving the way for new business efficiencies. Its Energy Grid Wide solution has been around for some time, but with the advances in chipset technology and the new IoT core network, the operator plans to deploy 350 million new meters in the next ten years.
Intelligent Track and Trace, scheduled to launch commercially in spring 2016, has been developed to help pharmaceutical manufacturers achieve Drug Security Act compliance by 2017. This legislation requires pharmaceutical companies to track all prescription drugs in the supply chain. These same pharmaceutical security regulations are being deployed in Europe by 2018.
In agriculture, Verizon is supporting some of the largest landowners to increase yield and alleviate concerns about water and sustainability of natural resources. The solution uses sensor data and analytics to conserve resources like water, prevent crop diseases and lower operating costs of a farm or a winery. Hahn Family Wines, a family-owned winery based in Monterey County, California, reduced its water usage by 30% with Verizon’s solution.
These commercially available IoT solutions are a big deal, a game changer. And we at Nokia are excited about it. We recently launched our third consecutive Nokia Open Innovation Challenge, which was focused on creative IoT solutions and ideas. Nokia also believes that system-of-systems interoperability based on common standards and open interfaces will be as crucial for IoT. Just like Verizon, Nokia thrives on disruptive and transformative ideas, technologies and business models to advance IoT innovations and help build a future that will benefit us all.
We are proud to be Verizon’s technology partner in its network transformation and forward-looking technology initiatives such as SDN/NFV network transformation, IoT and M2M use cases as well as Verizon’s 5G Technology Forum. We believe that advances in wireless technologies, IoT applications, computing in the cloud, real-time big data analysis combined with the creativity and vision of telco operators, engineers and application developers will continue to drive the evolution of the communications industry for the betterment of us all. It’s energizing to be a part of such innovation.
After all, it’s in our DNA too!
And read our latest press release: Nokia Networks kick-starts industry collaboration to enable the programmable world
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Daniel Feldman, Verizon’s Director of IoT/Smart Cities/Ag Tech product and new business shows Verizon’s Intelligent Lighting and Signage solution that addresses critical issues facing urban and rural communities, leveraging the network, cloud and security capabilities of the operator.
Grid Wide solution addresses inefficient manual meter reading, delayed bills, grid performance, power monitoring and outage notifications, as well as fragmented ecosystem, limited IT and capital resources. The new chipsets make it even more cost friendly.
AgTech solution deployed at Hahns Family Wines sprawling 1,000 acres winery increased the crop yield, while reducing operating cost costs and water consumption, a huge benefit in the draught-ridden state of California.