Internet-of-Things (IoT) is a revolutionary technological advancement where everyday objects can be connected via the Internet which then enables them to send and receive data. Samsung Electronics has taken the concept of IoT a step further by developing and launching Samsung ARTIK™ Cloud Monetization for IoT which will enable an IoT data bank and monetize all data that is shared across IoT devices. This means that device manufacturers can now use Samsung ARTIK™ Cloud’s extensive interoperability features to create a new source of income.
It will be a “win-win” situation for everybody because manufacturers will now be more interested in IoT devices since there is an avenue to generate funds from it and users are always ready to pay for quality service. Device manufacturers can now develop service plans that generate funds from interconnected devices by tapping into the open ecosystem.
For a while now, device manufacturers have had the issue of regaining data cost associated with free apps and third-party devices/services. This has significantly deflected their operating system from hardware sales to sales of hardware products connected to digital apps. In the event of its inability to regain data costs, most manufacturers either add the perceived data cost to the original retail price of the device or absorbs the data cost, both options are not really good for business. Absorbing anticipated data cost reduces the operating profit of the manufacturers while incorporating the perceived cost to the retail price of the device, increases its overall cost which may scare away customers.
This problem will be curtailed by Samsung ARTIK™ Cloud Monetization because it would provide a complete brokering, metering and payments system. Device manufacturers will now have a seamless platform to ensure that their devices are compatible with third-party devices and applications, and thereby monetize data usage. Service plans and business needs can be clearly defined by device manufacturers using Samsung ARTIK™ Cloud developer portal. Samsung Electronics and different device manufacturers have had their say on this new development and they are nothing short of excited.
The founder and CEO of Smappee, provider of smart energy solutions, Stefan Grosjean has this to say:
“We’re excited to partner with Samsung ARTIK™ on the new monetization model…Increasing the reach of devices while also providing a path to monetization is key to the successful evolution of IoT.”
Pete Horton, vice president of market development at Legrand said
“Samsung ARTIK™ is leading the way in helping device manufacturers easily make their devices interoperable with third-party devices and applications, as well as be able to monetize data use, and we are excited to be part of the journey…The new data broker model helps Legrand focus on our core competency of building market leading devices, while also allowing us to benefit from Samsung’s open ecosystem of third-party apps and services. It’s the missing piece to the IoT puzzle.”
Dilip Sarangan, global research director, IoT & digital transformation at Frost & Sullivan amongst other things said
“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… 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. This is a huge value proposition, especially on the consumer side, which has an untapped potential, but also on the enterprise side.”
The senior vice president and global head of ARTIK at Samsung Electronics, James Stansberry spoke on behalf of Samsung Electronics and said
“Samsung is committed to growing the IoT data economy…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.”