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Samsung announced a new service yesterday to enable IoT (Internet of Things) data economy. It is the Samsung ARTIK™ Cloud Monetization that monetizes data shared by IoT devices. This will let service providers and device manufacturers generate revenue directly from interactions with services and devices.

The ARTIK™ Cloud of the company provides an open and diverse ecosystem for device manufacturers for generating new revenue streams. They can also implement new business models. Creating service plans for the service providers is also going to prove advantageous for enhancement in the markets.

The ARTIK™ Cloud Monetization makes it revenue specific for the manufacturers and service providers in providing complete metering, brokering, and payment systems. Manufacturers get to make devices interoperable with third-party applications while monetizing data usage. They can also flexibly make service plans as per business requirements.

Words from Samsung

Samsung is dedicated towards developing IoT data economy, according to James Stanberry, the senior VP and global head at ARTIK. The newly introduced service does not just aim at making more money, but also delivers more applications to the consumers. He also stated that this initiative is a part of the company’s long-term plan in the field of IoT. He went on, it makes things more convenient for both service providers and customers on a big scale.

Other Companies

Pete Horton, the VP of market development at Legrand, said that the Cloud Monetization service solution is “the missing piece to the IoT puzzle”. Both Legrand and Smappee, along with Frost & Sullivan, are prime companies that have started using the service in their respective business aspects. Dilip Sarangan, the global research director of Frost & Sullivan said about the service that it addresses “a crucial need in the market”.

As it sums up

The aforementioned executive officials have all been in praise with the Samsung ARTIK™ Cloud Monetization service solution. Thusly, it certainly brings a whole new world of progressiveness and opportunities in the field of Internet of Things.

Source: SamsungNewsroom

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