Monetizing Connected Products and Systems

Business models for connected devices in the home present a challenge because most consumers will not pay a monthly fee for remote monitoring and control. This report examines the different monetization strategies that can drive revenues for manufacturers and benefits for consumers. In addition, the report reviews revenue opportunities that can be derived from partnerships with different industries that can benefit from data and controls from smart products and services.

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1.0              Introduction

1.1              Key Questions & Issues Addressed

1.2              Scope

2.0              Evolution of the Smart Home Market

3.0              Monetization Opportunities

3.1              Value-Added Services

3.2              Bundling Value-Added Services

3.3              Price and Volume Expansion

3.4              Product Sales and Commissions

3.5              Expanding into Adjacencies through Whole Product Solutions

3.6              App Sales, Upgrades

3.7              Advertising

3.8              Lead Generation

3.9              Tech Support

3.10            Demand Response

3.11            Customer Loyalty

4.0              Partnerships

4.1              Partners Mitigate Risk

4.2              Differentiation through Partnerships

4.3              Control of Data

4.4              Scaling Partnerships

5.0              Business Motivations of Partners

5.1              Smart Home Service Providers

5.2              Retailers

5.3              Broadband Service Providers

5.4              Security Service Providers

5.5              Smart Product Manufacturers

5.6              Home Insurance Industry

5.7              HVAC Dealers

5.8              Warranty Service Providers

5.9              Home Builders

5.10            Traditional Utilities

5.11            Retail Energy Providers

6.0              Conclusion

7.0              Index

8.0              Notes on Methodology

Internet of Things
Framework for Evaluating the Smart Home
Appeal of Individual Energy-Related Value-Added Services
Willingness to Subscribe to a Bundled Energy Service
Impact of Smart Thermostats on Overall Product Mix
Smart Features that Provide Price Expansion
Smart Features that Drive Proactive Replacement
In-App Product Sales in Whirlpool App
Likelihood of Using In-App Purchase Capability
App Revenue Generators
Advertising Network Profile: Google AdMob
Options for Waiving Monthly Service Fees
In-app Advertising Strategy Decision Making Process
Mobile Real-time Bidding Advertising Ecosystem
Appeal Tech Support Services
Real Time LMP Price Duration Curves
Profiles of Energy Aggregators
Open APIs Expand Partnerships
Conflicting Business Motivations within the Smart Home
Demand for Security Systems with Home Control by Business Model
HVAC Dealer Business Model
Performance Monitoring Driving Revenue In Adjacent Markets
 

Publish Date: 4Q 2014

Pages: 51


Authored By:
Tom Kerber - Director, IoT Strategy
Maia Hinkle - Research Analyst

© December 2014 Parks Associates
All rights reserved.  No part of this book may be reproduced, in any form or by any means, without permission in writing from the publisher.

Printed in the United States of America. 

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