The Key to Monetizing the Internet of Things
Simply selling more device units will not result in the massive spike in profits manufacturers are hoping for as they make a play to compete in the Internet of Things (IoT). This is the conclusion of the new Gartner Emerging Technology Analysis Report, Software Licensing & Entitlement Management is the Key to Monetizing the Internet of Things.
According to the report, manufacturers will have to reinvent their business models to profit from the Internet of Things. In addition to selling more Internet-connected devices, businesses will also have to figure out how to make money from the software they develop that flexibly configures their devices and powers functionality - and they'll also have to leverage software licensing and entitlement management as the mechanism to capture those additional revenues.
More Products, More Services, More Revenue
- Less Costs
Licensing and entitlement management technology serves as the key mechanism that enables manufacturers to protect and monetize the embedded intellectual property running as software on these connected devices or the external software applications associated with them.
Read this report for other key findings and recommendations, including:
- Defining the Internet of Things
- Applying licensing to the Internet of Things
- Licensing and entitlement management-components, models and meters
- Licensing lifecycle management and the relationship of entitlement management to licensing
- Usage-based licensing models
- Technology adoption and impact
- Actions to take now and within the next 12-18 months