By Staff Writer
Samsung introduces a Cloud Monetization for the Internet of Things (IoT), a new service to monetize the data shared by IoT devices and enable an IoT data economy.
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.
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 providing a complete brokering, metering and payments system.
“Samsung is committed to growing the IoT data economy,” said James Stansberry, senior vice president and global head of ARTIK at Samsung Electronics.
“Samsung ARTIK Cloud Monetization 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.”