Verizon Communications can generate hundreds of millions of dollars of revenue in coming years from wireless services beyond the mobile phone, in areas ranging from healthcare and automobiles to energy management, the company's top executive said on Monday.
The No. 1 U.S. mobile carrier joins other companies expected to debate and demonstrate the benefits of connecting devices - like cars - to the Internet at this year's Consumer Electronics Show in Las Vegas. Operators like Verizon (New York, USA) consider this an important new business.
"It's safe to say this is a market potential of billions in the 2020 timeframe," Lowell McAdam told Reuters in an interview. This should translate into a market with "hundreds of millions of dollars in revenue for a company the size of us," he said.
"People will be really surprised at what we're able to do," he said. "The power of the networks is finally going to be able to provide these sort of things."