With many perceiving a detrimental shift of carriers turning into commodities (dumb pipes), companies are looking for new revenue streams to expand growth and long-term value. Verizon Wireless has teamed up with Qualcomm to explore just that in a venture designed “to offer machine-to-machine wireless services to companies in sectors such as healthcare, manufacturing and utilities.”

The service will launch in 2010 and will allow businesses to remotely monitor vital statistics of their machines, inventories, systems and data for example. While the joint venture is a 50/50 split, it will be headed up by Qualcomm’s Steve Pazol. The venture will get a name in coming weeks and overseas carriers have expressed an interest.

“The economics are different. The model does need to change,” he said during the Webcast. “In order for us to exploit this marketplace we are going to have to look at things differently.”

I couldn’t agree more.

[Via Reuters]