Samsung service to help monetize IoT data for device manufacturers

August 01, 2017 //By Rich Pell
Samsung (Seoul, South Korea) has announced a new service as part of its ARTIK Cloud IoT platform that the company says will help monetize the data shared by IoT devices and enable an IoT data economy.

The Samsung ARTIK Cloud Monetization for the Internet of Things (IoT) service is designed to enable device manufacturers and service providers to tap into an open ecosystem and create service plans that generate revenue directly from the interactions of devices and services. This data monetization model, says Samsung, will allow device manufacturers to shift their business models from just selling hardware devices to selling devices connected to digital applications.

Currently, device manufacturers often either have to absorb the data costs associated with supporting an ecosystem of third-party devices, apps, and services for their devices, or factor them into the retail price of their products. The ARTIK Cloud Monetization service is designed to address this problem by providing a complete brokering, metering, and payments system, giving device manufacturers "an easy way to make their devices interoperable with third-party devices and applications, and monetize data useage."

Device manufacturers can use the service's ARTIK Cloud developer portal to define service plans that meet their business needs. The Samsung ARTIK Cloud both 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," says James Stansberry, senior vice president and global head of ARTIK at 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."

Samsung ARTIK platform