Making money from the IoT: “Data Monetization” package, from Samsung
ARTIK Cloud Monetization for the Internet of Things (IoT) is a service to monetize – develop a revenue stream – from the data shared by IoT devices; and enable an IoT data economy. Device manufacturers and service providers Samsung asserts, can tap into an open ecosystem and create service plans that generate revenue directly from the interactions of devices and services. Device manufacturers can take advantage of Samsung’s ARTIK Cloud’s interoperability features to generate new revenue streams and implement new business models, such as hardware as a service.
For device manufacturers, IoT shifts their operating model from selling hardware to selling hardware products connected to digital applications. Today, Samsung continues, device manufacturers often have trouble recouping data costs associated with free applications and supporting an ecosystem of third-party devices, apps and services. Manufacturers have to either absorb the data costs of operating devices in the field, or factor in anticipated data costs to the retail price of devices.
The Cloud Monetization addresses this problem by providing a complete brokering, metering and payments system. It gives device manufacturers a way to make their devices interoperable with third-party devices and applications, and monetize data useage. Device manufacturers have the flexibility to define service plans that meet their business needs. Samsung ARTIK Cloud brokers and meters user interactions against the defined plan, and manages upgrades, payments and revenue share back to the device OEM.
Samsung adds, “[this introduction]… uniquely positions us to help device manufacturers find new ways to make money from IoT and enable more applications for their customers. This is part of our long-term strategy to facilitate the development of secure IoT products and services, promote wide-scale interoperability, and create a platform and business model for an entire IoT ecosystem to thrive. Like the mobile phone industry, IoT will be driven by open systems, interoperability and support from innovative applications.”
“The problem with IoT is that many hardware companies are selling products without a clear view on sustainable business models. There’s a lot of pressure now to monetize data,” said Dilip Sarangan, global research director, IoT & digital transformation at [analysts] Frost & Sullivan. “Samsung ARTIK Cloud Monetization…can help hardware developers monetize solutions without necessarily putting in all the effort themselves. This is a huge value proposition, especially on the consumer side, which has an untapped potential, but also on the enterprise side.”
Samsung https://artik.io and https://artik.cloud
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