Samsung Sets out to Monetize IoT Data with ARTIK

In a recent release, Samsung has announced the Samsung ARTIK 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. For the first time, device manufacturers and service providers can tap into an open ecosystem and create service plans that generate revenue directly from the interactions of devices and services. With this data monetization model, device manufacturers should be able to use Samsung ARTIK Cloud’s interoperability features to generate new revenue streams and implement new business models, such as hardware as a service.

For device manufacturers, IoT shifts their operating model from selling hardware to selling hardware products connected to digital applications. 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.

ARTIK is designed to address this problem by providing a complete brokering, metering and payments system and giving device manufacturers an easy way to make their devices interoperable with third-party devices and applications, and monetize data usage. With the developer portal, device manufacturers have the flexibility to define service plans that meet their business needs. Samsung ARTIK Cloud brokers and meters user interactions against the defined plan, and manages upgrades, payments and revenue share back to the device OEM.

“Samsung is committed to growing the IoT data economy,” said James Stansberry, SVP and global head of ARTIK, 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.”