How to Monetise IoT
Significant cost savings, unparalleled customer insight, minimal infrastructure requirements, and numerous other factors have made the Internet of Things (IoT) the next great paradigm shift. But technology advances do not necessarily translate into profits, as the dot com era clearly demonstrated.
There already are hundreds of IoT companies that have filed for bankruptcy or gone out of business altogether. In fact, a survey by consultancy Capgemini found 70% of organizations don’t generate any service revenues from their IoT solutions — despite the fact that global management consultant McKinsey & Company estimates IoT, as an industry, will generate between $4 and $11 trillion by 2025.
The question thus becomes how can companies actually make a profit with IoT innovations?This white paper will examine what monetization for IoT means, how companies must rethink their business models to compete in the interconnected era, and how Aeris can deliver a customized platform that turns every device and sensor into a profit center.