Exploride makes money through different channels. Hardware sales is a one-time revenue, but there are a lot of recurring revenues involved such as application sales or pro upgrades for certain applications.
OEM Integration or SaaS-based integration is another source of income. We have two different approaches toward OEM's integration:
1. Platform integration license for per car and an annual license fee.
2. Support both hardware and software. Monetize from both sales
The Exploride device elevates a car to make it a Connected car that intelligently interacts with the Cloud. This data is critical to auto insurance providers since this will help them to better understand their customers' driving habits and provide them with a personalized insurance plan.
We are planning to develop more intuitive apps for Exploride. App sales and pro upgrade options are a way to generate revenue. According to Apple Inc., application developers made $20B worldwide in 2016.
The Exploride solution leverages loT for Automotive service on Bluemix that can be used to view and analyze big data from vehicles. By using the loT for Automotive service, we can collect and process large volumes of data from vehicles.
As per market studies, Geo-Targeted Mobile Ad Revenues To Reach $18.2 Billion By 2019. Exploride combines data from Heads-up display, OBD, Smartphone and maps to provide relevant ads for customers.