Monetizing IoT hardware in a market that is constantly looking for a packaged solution is a bit difficult. However, offering an IoT solution that complements your hardware will enable you to drive consumers and business. Let’s see different approaches to offer your devices in the market.
Offering the combinational power of IoT hardware and software
Avnet’s IoT Partner Program provides an entire IoT ecosystem that includes partner support, IoT platform, subscription module, developer environment and a marketplace. Our Solutions Hub allows hardware and software providers to look for industry-leading vendors for collaboration opportunities.
Often, hardware providers offer software solutions too and vice versa. Also, if devices provided by a company can be used with a solution offered by another organization, they can collaborate and offer a packaged deal. Let’s understand this with the following use cases:
Company 1 is a hardware provider based in the US. They have onboarded with our Partner Program as a hardware partner. The company listed their devices on Solutions Hub to get global reach. They offer sensors, Raspberry Pi, GPUs and other IoT devices.
Now, there is Company 2 that offers IoT solutions like smart home, smart office and smart factory. They have partnered with our program and have listed their solutions on Solutions Hub. While browsing our partners, the company came across the products listed by Company 1. They found the devices to be useful for their solutions. Our Partner Program gives a leverage to its partners of adding other vendors’ products in their offerings as associated product. Therefore, Company 2 can add Company 1’s devices to their solution as associated product.
Company 3 offers smart home solution. They have a smart bulb that they offer as a hardware/device. The company also has a solution to operate the bulb remotely. Hence, they can list both their products, the smart bulb and its associated solution, on our marketplace and price them accordingly.
Company 3 can offer both the hardware and software as an enterprise solution or they can create a subscription model for the solution and get recurring payouts.
Note: In both of these scenarios, no other company can associate Company 3’s hardware or software as their associate product.
Managing products, hardware and software, is certainly a tedious task. But with our Partner Program and Solutions Hub, you can manage and market your products easily. To learn how to add and manage products in the Partner Program, you can refer to the user guide.
Next step: Understanding API integration.