Gartner Conference will show new ways to expand industry revenue.
When you move the value of the device hardware product for the software that operates on the device, and applying an appropriate licensing strategy, products manufacturing planners can maximize the potential of revenue figures. These and other trends are presented at the Gartner Security and Risk Management Conference, which takes place on 10 and August 11 (Monday and Tuesday), at the Sheraton Sao Paulo WTC Hotel.
“The IoT is creating a new type of software provider, for which the licensing and rights management is vital to protect, differentiate and monetize their offerings. We hope that by 2020, failing to hire a LEM system results in a 20% drop in potential revenue generated by software to device manufacturers connected to the IoT, “said Laurie Wurster, Gartner Research Director.
Several manufacturers still use a traditional mindset to their products, and do not consider the additional revenue opportunities for software and embedded applications controlled by licensing. Most of these companies are new providers of software, particularly device manufacturers and original equipment, which can now monetize their software and devices through the IoT.
“When monetize the software on their devices, providers may increase and propel revenue streams, creating billions of dollars in additional value. It is estimated that there are over 25 billion ‘things’ in the market. If manufacturers could collect an average of $ 5 per software each unit installed, it would generate additional revenue estimated at $ 130 billion, “says the Director of Gartner Research.
In the near future, the IoT will lead business transformation for several manufacturers, allowing use of the software on the device to differentiate products and solution offerings. As suppliers of the traditional software industry, device manufacturers need to protect and monetize intellectual property contained in the application.
Partnership between companies develop joint solutions to IoT
“By controlling the product functionality, features and capabilities of Internet-connected devices through flexible licensing, manufacturers can better compete in new and existing markets. In addition, the software controlled configuration provides more manufacturers flexibility to regionalise their offerings and develop niche solutions for specific markets without making separate product stock-keeping units, “said Laurie Wurster, Gartner Research Director.
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