Verizon CEO Lowell McAdam said that the promise of machine-to-machine connections---including vending machines, buildings and healthcare sensors---is ready to be realized.
Speaking at a UBS investment conference, McAdam said that said he expects mobile payments to blend with machine-to-machine transactions. McAdam sees energy management, health care and security as key niches for machine-to-machine connections---sometimes described as the Internet of things.
Wireless carriers have been racing to machine connections because they see it as a way to drive revenue growth, fill up networks and add more services.
Verizon's plan is to ultimately make its 3G network a machine-based one as it moves customers over to 4G services.
In the end, Verizon sees machine-to-machine connections as a promising business. McAdam said:
I am finally seeing machine-to-machine apps that you start going, okay, this is cool; I could really use this. A lot of healthcare; we have met with a lot of medical professionals around the country and some great ideas. There was a great article about the Human Genome Project and why you need strong networks and why you need tablet and smartphone devices that we are going to be offering.
This post was originally published on Smartplanet.com