Data Monetization for IoT

artik cloud monetization bannerWe’re excited to announce our latest addition to the Samsung ARTIK™ Smart IoT platform: ARTIK Cloud Monetization, a new service to monetize the data shared by IoT devices and applications and kick-start new business models, such as Hardware as a Service.

Click here to open the contact form and get in touch with us about making money from IoT.

With the rising adoption of Internet of Things (IoT) devices, device manufacturers see their world shifting from a “Sell and Forget” operating model to a “Connect and Improve” model.

This shift creates new challenges for device manufacturers, including how to:

  • Access the rich technical expertise required to quickly bring connected products to market.
  • Find a scalable way to build an ecosystem of compatible third-party devices and apps.
  • Provide security and data privacy.

Plus, as device manufacturers begin deploying more IoT devices for longer periods of time, they face yet another challenge: generating profits.

monetization spectrum

Free apps can help drive initial adoption, but free apps come at a cost: IoT data exchanged through a cloud infrastructure isn’t free.

Today, most device manufacturers absorb these initial data costs, and some factor them into the up-front hardware price of the product. However, this model isn’t sustainable. Consumption patterns vary widely across users, and there’s a ceiling to how much markup you can add to a product without hurting sales.

This problem becomes even worse when IoT devices exchange data with third-party apps and services (via web APIs). While some of these third-party engagements will operate under custom-negotiated contracts, large-scale adoption will force device manufacturers to find models that allow them to recoup data costs and to monetize device use in a scalable and repeatable way.

And all this must happen without distracting device manufacturers from what they do best: build great products.

That’s where ARTIK Cloud Monetization comes in.

Monetization versus use

 

ARTIK Cloud Monetization

ARTIK Cloud Monetization is a new monetization solution for the Internet of Things. It’s an open data broker model that enables, for the first time, device manufacturers and service providers to tap into an open IoT ecosystem and create service plans that generate revenue directly from the interactions of devices and services.

Samsung ARTIK Cloud Monetization:

  • Provides an easy way to make IoT devices interoperable with third-party devices and applications, and to monetize data use.
  • Provides a complete brokering, metering, and payments system: It brokers and meters user interactions against the defined plan; shares revenue back with the device OEM; and initiates and manages upgrades and payments.
  • Can be customized to fit specific service and product needs.
  • Supports devices that are natively connected to ARTIK Cloud as well as those connecting via a cloud connector (which means that any data provider can use the service).
  • Keeps device manufacturers in control of the data they share, the thresholds on free and paid use, and the charges for the paid use.
  • Is integrated into the ARTIK Cloud Developer Portal.
  • Is easy to use, with an intuitive UI.

With this unique data monetization service, device manufacturers can take advantage of the extensive interoperability features built into ARTIK Cloud to generate new revenue streams and implement new business models, such as hardware-as-a-service.

In addition, device manufacturers can offer pricing tailored to different consumption patterns. For example, they can offer some end users a higher up-front fee with a more generous free-use tier, or they can charge a smaller up-front hardware fee with a higher ongoing usage charge. These models can be implemented for first-party or third-party apps in multiple vertical markets.

Start today for free

Are you ready to make money from IoT? To get started, login to the developer portal and follow the easy steps to add a monetization plan to your device. You can check out the documentation here.

Click here to open the contact form and let us know if you have questions, comments or suggestions, or if you want discuss how ARTIK Cloud Monetization can help you make money from IoT.