Samsung Electronics this week announced Samsung ARTIK Cloud Monetization for the Internet of Things (IoT), a new service to monetize the data shared by IoT devices by providing a complete brokering, metering and payments system.
With the solution, device manufacturers and service providers can tap into an open ecosystem and create service plans that generate revenue directly from the interactions of devices and services, said Samsung.
With this unique data monetization model, device manufacturers can take advantage of Samsung ARTIK Cloud’s extensive 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, 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.
Samsung ARTIK Cloud Monetization addresses this problem by. It gives device manufacturers an easy way to make their devices interoperable with third-party devices and applications, and monetize data useage.
With the Samsung ARTIK Cloud developer portal, 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.