Itasca, IL - Feb 10, 2015 - A new survey report, The Third Industrial Revolution: Intelligent Devices, Software, and the Internet of Things, prepared jointly by Flexera Software and IDC, provides unique insights into how the third industrial revolution sweeping the global economy is being fueled by device manufacturers - transforming their products, business models and revenue streams with intelligent and Internet-connected technology.
The report indicates that reality is catching up to the hype. Device manufacturers are significantly transforming their product and services lines through software-driven intelligent devices, Internet of Things devices and software licensing/entitlement management capabilities that enable monetization of products and services. Among the report's findings:
"Hardware device makers are faced with a variety of challenges associated with thin margins, inflexible and costly supply chains, and limited revenue streams," said Amy Konary, Research Vice President - Software Licensing & Provisioning, IDC. "By transforming their business models via software, Internet connectivity and licensing capabilities, device makers can enter new markets, diversify and increase their revenue streams, improve margins, and differentiate from the competition. The survey data indicates that that is exactly what is happening now."
"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 monetize new technology in order to profit from it," said Vikram Koka, Vice President of Intelligent Devices & Internet of Things 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."
Learn more about Flexera Software's:
Flexera is reimagining the way software is bought, sold, managed and secured. We view the software industry as a supply chain, and make the business of buying and selling software and technology asset data more profitable, secure, and effective. Our Monetization and Security solutions help software sellers transform their business models, grow recurring revenues and minimize open source risk. Our Vulnerability and Software Asset Management (SAM) solutions strip waste and unpredictability out of procuring software, helping companies buy only the software and cloud services they need, manage what they have, and reduce compliance and security risk. Powering these solutions and the entire software supply chain, Flexera has built the world’s largest and most comprehensive repository of market intelligence on technology assets. In business for 30+ years, our 1200+ employees are passionate about helping our 80,000+ customers generate millions in ROI every year. Visit us at www.flexera.com.
About This Report
This report is based on the 2015 Application Usage and Value survey, conducted by Flexera Software with input from IDC's Software Pricing and Licensing Research division under the direction of Amy Konary, Research Vice President - Software Licensing and Provisioning at IDC. The surveys were completed between November, 2014 and January, 2015, by more than 580 respondents from software vendors, intelligent device manufacturers and end-user enterprises. This annual research project looks at software licensing, compliance and installation trends and best practices.