Software licensing models and entitlement management technology are key to unlocking revenues for manufacturers specialising in the Internet of Things, according to research.

A survey, conducted by software licencing firm Flexera Software and IDC, found that 60% of device makers use software licensing and entitlement management systems to monetise their intelligent and Internet-connected devices.

This allows them to develop new offerings that bundle hardware, services and consulting.

“The report supports a long-proven truism in the high-tech arena – that innovation, alone, isn’t sufficient to transform an industry. There must also be a practical means to monetise new technology in order to profit from it,” said Vikram Koka, VP of Intelligent Devices & IoT at Flexera Software.

“Software- and Internet- enabled products are spawning a vast new category of products and services previously unimaginable. The data from today’s report shows that in conjunction with their new products and services, device makers are also beginning to transform their business models via flexible licensing and entitlement management – enabling them to turn their innovations into revenue.”

SOURCE: cbronline.com