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    Ten Cool Companies That Are Monetizing IoT and How You Can Too!

    With growth in the Internet of Things (IoT) projected to be 26 billion units installed by 2020 resulting in billions of dollars of additional value for suppliers, the potential for revenue is there for those who develop successful IoT strategies.

    “Soon it will be easier and easier for developers with killer IoT app ideas to get to market quicker than ever before, but these developers need to think early and often about their ultimate monetization strategies rather than tacking monetization concerns to the bottom of their to-do lists,” said Brendan O’Brien, co-founder and chief architect, Aria Systems.

    “Monetization itself is often a market differentiator, sometimes more so than the core offering. To stay ahead of competitors businesses need to gain real insight into their customers’ habits and adjust their monetization strategy accordingly, and quickly, to avoid premature obsolescence.” Ultimately, IoT provides more customer control over products and services (including devices and other physical assets) and more revenue opportunities for developers and manufacturers.

    In this slideshow, Aria Systems has identified 10 cool companies that are already monetizing IoT and outlines some success strategies to help companies prepare for the imperative of IoT adoption.

    Ten Cool Companies That Are Monetizing IoT and How You Can Too! - slide 1

    Click through for 10 companies that are already monetizing the growing IoT market, as well as tips on how to prepare your organization for the IoT imperative, as identified by Aria Systems.

    Ten Cool Companies That Are Monetizing IoT and How You Can Too! - slide 2

    Philips Hue Connected Bulb: Connect light bulbs to your smartphone, providing geo-fencing, color change and control from anywhere.

    Monetization model: One-time pay plus free app

    Ten Cool Companies That Are Monetizing IoT and How You Can Too! - slide 3

    Audi Connect: Audi has added a 4G/LTE Wi-Fi hotspot navigation system, utilizing Google Earth and Voice, real-time alerts, weather and traffic updates.

    Monetization model: Hotspot subscription – Six months for $99 / 30 months for $499

    Ten Cool Companies That Are Monetizing IoT and How You Can Too! - slide 4

    Nexia Home Intelligence: This system allows you to manage your home from a distance, allowing users to control a variety of home features like lighting, locks, thermostats and security cameras.

    Monetization model: Start kit with add-on as desired plus $9.99 per month subscription

    Ten Cool Companies That Are Monetizing IoT and How You Can Too! - slide 5

    Jawbone UP24: This device allows you to personalize activity tracking throughout the day, and deliver the results wirelessly through Bluetooth.

    Monetization model: One-time pay, free app

    Ten Cool Companies That Are Monetizing IoT and How You Can Too! - slide 6

    Nest: This smart thermostat can be controlled by a mobile device, and learns the owner’s habits and routines for personalized temperature schedule.

    Monetization model: One-time pay, free app

    Ten Cool Companies That Are Monetizing IoT and How You Can Too! - slide 7

    BeClose Senior Monitoring System: This system includes wearable, wireless sensors that track a family member’s daily routine, and notifies loved ones if something is wrong.

    Monetization model: One-time equipment purchase plus $69.99 per month subscription.

    Ten Cool Companies That Are Monetizing IoT and How You Can Too! - slide 8

    Zatar: This system is a cloud-based technology that allows companies to use customized applications and share data from anywhere.

    Monetization model: Free for up to five devices, $2 per device per month after that

    Ten Cool Companies That Are Monetizing IoT and How You Can Too! - slide 9

    Connected Car Cloud: This software enables car makers to add onboard services, updates, diagnostics and safety alerts to their vehicles.

    Monetization model: White-label services

    Ten Cool Companies That Are Monetizing IoT and How You Can Too! - slide 10

    Streetline Parking: Streetline Parking provides a smart parking solution for cities and campuses that guides drivers to empty spots. It includes pay-by-phone features, and allows analysis of all parking-related statistics for cities to improve efficiency.

    Monetization model: Upfront installation cost, monthly service fee

    Ten Cool Companies That Are Monetizing IoT and How You Can Too! - slide 11

    WeMo Switch: This Wi-Fi-enabled switch allows you to set schedules and control plugged-in devices from your smartphone.

    Monetization model: One-time pay, free app

    Ten Cool Companies That Are Monetizing IoT and How You Can Too! - slide 12

    Tips for Monetizing the Internet of Things

    1. If IoT is about one thing, it is usage data – part of an IoT strategy should address deployment of a billing system that is capable of processing and centralizing an enormous quantity of data for analysis, to enable comparison of consumption to revenue.
    2. Bring the CFO to the table early for discussions on monetization – don’t relegate the “billing system” to a downstream “slave location” in the design process.
    3. Audit current IT systems for customer “touch point” fragmentation – if people need to share their information at more than one “touch point,” customers will leave for better integrated operations, despite your products and services.
    4. Determine if your systems can “push” information to other systems to automate broadcasts of critical data-state changes to external systems.
    5. Design for global implementation – variations in currency, language and time, and laws and regulations including compliance requirements across many different industries, privacy and data security standards and customer service protections, must all be considered as part of the strategic plan.

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