Verizon doubles down on IoT with ThingSpace launch

The ThingSpace portal allows developers to manage their IoT environments and related data, end-to-end, from device to network to application.

Last week, Verizon revealed that its Internet of things business delivered nearly $500 million in revenue for the first nine months of 2015.

But with the launch of ThingSpace, a Web-based developer platform for IoT, Verizon is aiming to make that number go much higher.

Verizon said ThingSpace is the cornerstone of its IoT strategy. Similar to other IoT cloud platforms from IBM and Amazon Web Services, the ThingSpace portal allows developers to manage their IoT environments and related data, end-to-end, from device to network to application.

Starting today, developers have immediate access to APIs and partner development kits so they can start to code and test on the ThingSpace platform, even if they are not a Verizon customer.

"We believe ThingSpace brings all of the elements necessary to execute in the IoT space," said Mike Lanman, SVP of Enterprise and IoT Products at Verizon, during a press event Wednesday in San Francisco.

In addition to the ThingSpace platform, Lanman unveiled a new chipset to offset the cost of WAN modules. Lanman said the chipset will cut the costs of 4G/LTE connection in half. Verizon is also opening up its analytics engine, which was previously only used internally, in order to power the ThingSpace platform.

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