Verizon is one of the largest communication technology companies in the world. Verizon has recently started ThingSpace. ThingSpace is, “a development platform for companies of all sizes to create Internet of Things applications more efficiently and then later manage those apps.”(Hamblen) According to Natalie Gagliordi, “Verizon said ThingSpace is the cornerstone of its IoT strategy.”(Gagliordi) Verizon also announced that they will be creating a network core for Internet of Things connections that will reach billions of sensors and devices because it can scale far beyond the ability of its existing networks. The main goal for Verizon is to lower the cost of connecting devices that companies have used in the past to Verizon’s network.
The cost of any product or service plays a major role in deciding if you will purchase the product or service. In today’s world the cost of living is so expensive, naturally people are constantly trying to figure out ways to reduce costs. These people are exactly who Verizon is targeting. Verizon has purchased new LTE chips from Sequans Communications, an LTE chip maker. Lanman, senior vice president of enterprise products at Verizon, said, “the chip will provide a significant reduction in cost…that changes the game. It will provide 4G LTE connectivity in modules connected to IoT devices to make the wide-area network more accessible to developers.”(Hamblen) Not only does ThingSpace reduce costs, but it also allows the network to be more easily accessible to developers. Simplicity plays a major factor in today’s IT world, especially if the service can be efficient, simple and cheap in cost.
Another way that Verzion will try and reduce cost is by implementing a new IoT core network within its LTE network. According to Hamblen, “this will provide a much lower cost than with Verizon’s existing wired and wireless networks.”(Hamblen) The great thing about the new IoT core that they will be implementing is the diversity behind it; Lanman stated, “Whether you are connecting your dog or water meters and any other low-payload devices, we’ll handle it through a new IoT core.”(Hamblen)
Although this article did a great job explaining how Verizon could cut their costs, they overlooked the dependency factor. Personally, I think that the creation of ThingSpace and their new network core for IoT will do great. But as I mentioned before, “Verizon said ThingSpace is the cornerstone of its IoT strategy.”(Gagliordi) If ThingSpace or their new network core has faults or malfunctions in the future Verizon will be facing a major problem that will cause a major setback. Another point that the article touched on but didn’t explain the importance of, is that developers would rather rely on Wi-Fi and avoid the high cost of using LTE connections. This is when the developers have to weigh their options and see if the risk of using Wi-Fi exceeds the cost of using LTE. It will be interesting to see how these new services will work for Verizon; I am definitely excited to see.