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.