Samsung Electronics has rolled out a new service that will monetise the data shared by IoT devices, enabling an IoT data economy.

An open data exchange platform for IoT, the Samsung Artik Cloud provides easy-to-use, open APIs and tools to securely collect, store and act on any data from any connected device or cloud service. The service provides a complete brokering, metering and payments system, paving the way for device manufacturers to make their devices interoperable with third-party devices and applications, and monetise data usage.

20170809_EETI_Samsung-Artik (cr) Figure 1: With the rising adoption of Internet of Things devices, device manufacturers see their world shifting from a “Sell and Forget” operating model to a “Connect and Improve” model. (Source: Samsung Artik)

With the Samsung Artik Cloud Monetisation for the Internet of Things, device manufacturers and service providers can tap into an open ecosystem and create service plans that generate revenue directly from the interactions of devices and services. The unique data monetisation model allows device manufacturers to take advantage of Samsung Artik Cloud’s interoperability features to generate new revenue streams and implement new business models, such as hardware as a service.