Monetize Your Artik-Based IoT Devices Thru Data Collection

July 31, 2017

Monetize Your Artik-Based IoT Devices Thru Data Collection

Samsung's Artik Cloud lets IoT device makers monetize their end devices by taking advantage of the data collected by those devices.

Here’s an interesting one for you—Samsung is giving you the tools to monetize the data shared by IoT devices. Hmm. This is worth exploring. Dubbed Samsung Artik Cloud Monetization for the IoT, the service lets device makers and service providers create service plans that generate revenue directly from the interactions of IoT devices and services. This means that device makers can move from exclusively selling hardware to selling hardware products that are connected to digital applications.

Samsung defines Artik Cloud as an open data exchange platform for the IoT. It consists of open APIs and tools to securely collect, store, and act on data from any connected device or cloud service. But it all begins with the Artik smart IoT platform.

A big push for this technology comes from the idea (actually, it’s much bigger than an idea) that hardware vendors have a difficult time recouping any money associated with free applications and supporting an ecosystem of third-party devices, apps, and services. They make money selling the devices, but that's it. Simply selling the hardware and walking away is a short-term proposition.

Take that proposition to the next level, and the vendor could have an on-going revenue stream. That’s where Artik Cloud Monetization comes in, as it addresses this problem by providing a system that includes brokering, metering, and payments. It provides an easy path to making devices from different vendors interoperable, so data can be shared across devices. The device makers can define the service plans based on end-user needs. Clearly, this is worth investigating if you're in the IoT device or services industry.