Proving the Business Case for the Internet of Things

Verizon and GE announce industrial internet tie-up

Iain Morris
October 15, 2014

GE and Verizon have announced plans to become M2M partners with the aim of exploring opportunities in areas including remote monitoring, diagnostics and predictive maintenance.

The two companies will combine their M2M expertise to provide services to a range of vertical markets, helping organizations to streamline logistics and improve the efficiency of their operations.

Under the agreement, GE’s software-enabled machines and devices will be able to connect to Verizon’s M2M connectivity and cloud platforms.

GE (Fairfield, CT, USA) says the alliance will deliver a number of value-added services for its Predix software platform, including remote monitoring, diagnostics and the ability to resolve maintenance issues from any location.

The companies say they are also entering into discussions to collaborate on developing a single global SIM for connectivity.

“The potential for transforming industries – including rail, aviation, energy and healthcare, as well as society as we know it — is tremendous, and yet the Internet of Things is a nascent, complex and fragmented market,” said Mark Bartolomeo, head of IoT connected solutions at Verizon (New York City, NY, USA).

“Driving adoption requires broadening alliances across the ecosystem,” he added. “We look forward to using the power of our network and cloud platforms to enhance our long-standing relationship with GE so that together we can create new business models across the Industrial Internet to meet the increasingly complex demands of customers.”

IoT technologies developed by GE and Verizon could hold out numerous benefits for customers, especially those operating machinery across various locations.

Sensors installed in those machines would be able to send notifications and data over the Verizon network, allowing technicians and managers to address problems immediately.

This technology could also reduce the need for organizations to dispatch staff to remote locations to perform check-ups, leading to cost-saving benefits.

GE also has an agreement in place with AT&T (Dallas, TX, USA), Verizon’s chief network rival, with both operators going head to head in the market for M2M services.

Operators generally have seen M2M as a growth opportunity that could help to offset the decline in revenue from traditional business activities.
 
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