Through a recently-launched service, Samsung has made it possible for IoT device manufacturers to implement a new way to monetise data generated by these connected devices.
The new service is called Samsung ARTIK Cloud Monetization, which covers the cloud, hardware, software, security, and partner ecosystems. Samsung released ARTIK Cloud last year to help companies not only collect the data generated by IoT devices, but also analyse it.
No matter how useful and innovative that move was, there was a glaring problem: the companies often faced an unsolvable challenge of being unable to recuperate the operating costs, which made it particularly hard to deploy free applications.
Now, with the release of Artik Cloud Monetization, Samsung aims to tackle this problem. Manufacturers will now be able to define device service plans. Cloud Monetization then looks at the user interactions and meters them in order to compare the gathered data against the defined plan. It also functions as a managing point for payments and upgrades, while sharing the revenue with the device manufacturer.
According to Samsung, this could help companies implement new business models, with one example being hardware as a service.
James Stansberry, the global head of ARTIK at Samsung Electronics, revealed this move as part of their long-term strategy to promote wide-scale operability and facilitate the development of secure IoT products. He believes IoT is like the mobile industry in the sense that it will be driven by interoperability, open systems, and support of innovative applications.