As the IoT grows in influence and increases in size, questions regarding how to license interactions between objects will increase in frequency, especially given the significant amounts of potential revenue involved. As far back as2015, Gartner was pointing out that,
“…by 2020, a failure to put in place an LEM system will result in a 20% drop in potential revenue generated from software for device manufacturers connecting to the IoT.
This could amount to costing billions per annum. As of this moment, no one has come up with a definitive, cross-industry approach to licensing for IoT devices. However, as the IoT continues to expand, (while also driving growth in associated cloud services) that point will surely come.
As a business with many years of experience in handling (often highly complex) licensing issues for its clients, COMPAREX continues to closely monitor trends surrounding and within the IoT. As new business challenges, and eventually some kind of industry consensus emerges, COMPAREX is continually developing its services to operate at the highest level, and to offer best-practice advice to our clients around IoT licensing issues.