Monitization of Software in the IoT Products

A recent Gartner study, “Market Trends: Move beyond Homegrown Licensing and Entitlement as the IoT Creates New Revenue for Software” reveals that many manufactures of “things” don’t consider the extra revenue opportunities of licensing-controlled embedded software and applications. Governing these licenses will reduce the number of SKUs produced, lower overall manufacturing costs while enhancing manufacturers’ ability to customize and regionalize products.

Those licenses can differentiate and add value to “things” and also enlarge the monetization by adopting pay-for-use and pay-for-overage or other payment models that meet the demands of customers as they change from time to time