Perth Software Development Company Reveals the Trends Driving the Monetisation of Software

PERTH, Australia - May 2, 2017 - PRLog -- DBS IT, a software development company, has recently revealed the trends that are driving the monetisation of software both in Australia and worldwide.  Get in touch with our friendly team. : https://www.dbsitsoftware.com.au/custom-software-development-perth/

Businesses continue to invest in software for security and financial benefits. Some are turning their "dumb" devices into smart devices, or moving towards a more scalable business model.

"Customers want more control of, and options for their data and devices, particularly as the IoT continues to develop." A spokesperson for DBS IT said. "This is helping to encourage the growth in software development, particularly for companies hoping to monetise.

We can expect to see a transition to business models that are more software-based both this year and in the future. Businesses offering subscription options or a "pay-as-you-grow" model can expect to see more customers in the door, and more innovative product development. These businesses are looking for a Perth software development company that can make this happen.

By designing one product and then adding the ability for software monetisation, the device can be upgraded remotely, allowing for a variety of price points, functions, and features.

"We'll likely see businesses increasingly adopting cloud-based technology, as enterprises focus on developing cloud-friendly products to make their business models more versatile. This also allows them to monitor the usage of devices and collect data in real-time. Another key trend is licensing compliance and intellectual property protection. It's important for companies to safeguard their investments, and while IoT and the cloud bring massive benefits to businesses, they also bring a number of new challenges." The spokesperson said.

One of the biggest challenges of this monetisation is the Internet of Things (IoT). While many assume that the value of the IoT is all about inventing and selling new, connected gadgets, this isn't the case. Instead, the focus should be on the services and software that the connect device enables, along with capturing and monetising that extra value.

Perth software development companies can expect to see businesses asking for software to be integrated into devices so they can then monetise both those products, and the data that those products generate. By adding this monetisation strategy into their business plan, these businesses can then enter into new markets.

This change represents an important shift as businesses around the world shift from revenue based on hardware, to revenue based on software-value added service. In the next few years, we can expect to see the number of businesses aiming to explore the monetisation of the IoT outnumbering the businesses that are not.

These trends will be some of the biggest drivers towards using software to monetise IoT applications and devices. One thing is for sure, consumers and businesses are taking advantage of the latest developments to consume data in completely different ways.

Are you looking for a Perth software development company? Get in touch with DBS IT Australia to learn how custom software can help your business scale this year. Please feel free to contact us to arrange a free consultation, receive an obligation free quote or simply get in touch with our friendly team. : https://www.dbsitsoftware.com.au/custom-software-developm...