Samsung on Monday unveiled a new service designed to help device manufacturers monetize the data generated by Internet of Things (IoT) devices.
Samsung ARTIK Cloud Monetization is the latest cloud service on Samsung's ARTIK IoT offerings, which includes hardware, software, cloud, security, and partner ecosystems. ARTIK Cloud was rolled out last year to help companies collect and analyze data from connected devices.
However, without a way to monetize IoT data, device manufacturers often have trouble recouping the data costs associated with operating devices in the field and supporting free applications.
ARTIK Cloud Monetization aims to address that problem by enabling manufacturers to define device service plans. The Cloud Monetization then brokers and meters user interactions against the defined plan. It manages upgrades, payments, and revenue share back to the device manufacturer.
Samsung said it could help companies implement new business models, such as hardware as a service.
"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," said James Stansberry, SVP and global head of ARTIK at Samsung Electronics, in a statement. "Like the mobile phone industry, IoT will be driven by open systems, interoperability, and support from innovative applications."