Applications and Business Model Innovation Enable Digital Transformation for Product Companies
This IDC study discusses some of the unique challenges faced by hardware or device companies as they transition to new business models that use software to help cultivate and monetize customer relationships. This document also includes profiles of companies that are using software business models and monetization approaches to help launch or grow innovative businesses within the Internet of Things ecosystem."Companies from every industry are seeing opportunities in monetizing business value through applications and APIs. IDC expects that many companies outside of the traditional software industry will soon receive a crash course in the challenges and opportunities of software monetization," said Amy Konary, program vice president for SaaS, Business Models, and Mobile Enterprise Applications at IDC. "According to IDC's 2016 Business Models and Mobile Applications Survey, almost 90% of U.S. organizations in a broad range of industries expect software to play a larger role in their company's core product or service offering in the next 12–18 months."