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#News(General) [ via IoTForIndiaGroup ]
Revenue sharing is already well established across most industries. It’s been used for decades in the telecommunications industry, for example, with roaming agreements existing between different carriers.
In the realm of IoT, everything is connected, including revenues. Delivering IoT-based services is typically a team effort involving multiple third parties. As a result, businesses must share IoT revenues among device makers, application developers, data storage providers, analytics experts and dozens of other vendors.
Third-party collaboration and revenue sharing business models will be required to monetize these new hyper-connected services. For an example, consider new smart home services that cable operators are rolling out. In many instances, providers lack key IoT development and implementation expertise needed to run the many sensor-enhanced appliances, door locks, thermostats, and security cameras connected home services provide. An effective way to acquire that expertise is to partner with IoT specialists that provide IoT enablement services in return for a share of revenues that the companies garner from connected home subscriptions. Those revenues may be divvied up in a number of different ways, including by percentage, as micropayments per transaction, or through other consumption-based mechanisms.
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