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

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

    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

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

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    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

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.