Samsung launches IoT data monetisation system

Samung Electronics ramped up its IoT push by launching a “complete brokering, metering and payments” solution it said allows device manufacturers and service providers to monetise data shared by IoT devices.

Unveiled as part of efforts to grow the IoT data economy, the Samsung Artik Cloud Monetisation system allows users to create service plans which generate revenue directly from the interactions of devices and services.

Device manufacturers can take advantage of its interoperability features to generate new revenue streams and implement new business models, such as hardware as a service, Samsung said in a statement.

It explained manufacturers are often unable to recoup data costs and support an ecosystem of third-party devices and apps as they move from selling hardware to selling connected products.

They have to either absorb the data costs of operating devices, or factor in anticipated data costs to the retail price of devices.

Samsung said its system gives manufacturers a way to make their products interoperable with third-party devices and applications, and monetise data usage as well as define service plans which meet their business needs.

According to James Stansberry, SVP and global head of Artik at Samsung Electronics: “This is part of our long-term strategy to facilitate the development of secure IoT products and services, promote widescale 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,” he added.

Samsung is making a major push into the IoT space. In June, it commenced massproduction of a processor designed specifically for IoT applications. And last year it acquired connected car player Harman for $8 billion. Samsung sees IoT sectors such as the connected car as a major focus of future growth.