New Data Monetization Solution for IoT launched by Samsung
Samsung today announced the launch of a new Data Monetization Solution for Internet of Things devices using Samsung ARTIK Cloud. This service will enable users to monetize the data that’s shared by IoT devices, thus enabling an IoT data economy.
“Samsung ARTIKTM Cloud Monetization is out front in addressing a crucial need in the market. It can help hardware developers monetize solutions without necessarily putting in all the effort themselves,” said Dilip Sarangan, global research director, IoT & digital transformation at Frost & Sullivan.
Samsung ARTIK Cloud Monetization for the Internet of Things will allow device manufacturers and service providers to tap into an open ecosystem for the first time. They can then create service plans that generate revenue directly from the interactions of devices and services.
Device manufacturers can take advantage of Samsung ARTIK Cloud’s interoperability features to open up new revenue streams and implement new business models. Samsung’s aim here is to help device manufacturers recoup data costs associated with free apps.
IoT devices force manufacturers to shift their operating model from selling hardware to selling hardware products that are connected to digital apps. They have to launch free apps and support an ecosystem of third-party devices, apps and services.
Samsung ARTIK Cloud Monetization provides those manufacturers with a complete brokering, metering and payments service. Device manufacturers can easily make their devices interoperable with third-party devices and apps. Data usage can then be monetized using the service.