Telecom operator Verizon is trying to enhance revenue from its IoT business by launching 4G LTE Category M1 (or Cat M1) network offering wireless access solutions for IoT.

Verizon, which competes with AT&T for revenue from IoT, is the first telecom operator to deploy 4G LTE, LTE Cat 1 and now LTE Cat M1 in the US.

Verizon said Cat M1, a LTE chipset designed for sensors, requires less power, offers extended battery life and supports use cases such as water meters, asset trackers, and consumer electronics, for the IoT segment.

“As the natural shift from CDMA-based IoT solutions to the more cloud-based LTE technology occurs, it’s important we stay ahead of that technology evolution for our customers so we can continue to provide them service on the best and most advanced wireless network,” said Mike Haberman, network vice president at Verizon.

Cat M1 devices can economically scale on Verizon’s wireless network on data plans that are as low as $2 per month per device, with customized options available for bulk activations and volume purchases.

By gaining from Verizon’s cost effective data plans and less expensive chipsets, developers can scale from millions of connected devices to billions on 4G LTE.

Verizon’s Cat M1 partners include tech companies including Sequans, Telit, U-Blox, Sierra Wireless, Gemalto, Qualcomm Technologies, and Altair.

Today, Verizon offers certified chipsets, modules and devices for Cat M1 from Sequans, Telit, Qualcomm Technologies, Encore Networks, Link Labs, and NimbeLink.

“By launching this network with a fresh set of connectivity rate options, we’re continuing to lead the way for IoT at a reduced cost to connect on America’s most reliable LTE network,” said Mike Lanman, senior vice president – Business Products and IoT at Verizon.