Verizon Wireless is promoting a segment of business services – Internet of Things (IoT) – on its website, more specifically those that pertain to asphalt. The Motley Fool reported the wireless provider thinks getting involved in smart city construction has benefits, including reducing traffic and poor air quality from automobile emissions.
According to Verizon, Americans spend over eight billion hours stuck in traffic annually. Beyond a waste of time, a single car that idles one hour per day emits 10 pounds of carbon dioxide during a week, but the wireless carrier has a solution. Verizon’s “smart asphalt” project embeds sensors into city roads, pairing them with cameras on traffic lights, and connecting the devices to its wireless network to analyze traffic. Verizon is testing the “smart asphalt” in Sacramento, CA, which will also be one of the first cities where the carrier provides 5G network access in 2018.
Verizon believes this solution has the potential to significantly reduce fossil fuel emissions by helping cities optimize traffic flow, saving drivers time by reducing the amount of traffic stops by up to 44 percent and providing a collective $160 billion a year in savings related to traffic congestion.
Although still a small segment of their overall business, the IoT sector saw over $220 million in sales last quarter, compared to $31.7 billion in total revenue, reported The Motley Fool.
January 4, 2018