With the wealth of data becoming available to companies from the Gartner, business models will have to evolve to keep up with technology. With the totality of the data which will be supplied by tomorrow's products, it will make more sense for brands to sell subscription services; for example, rather than selling you a car, car brands would be better off selling you a multi-year subscription that includes the car, fuel, insurance, maintenance and scheduled upgrades to a new model. In this future, subscription based market companies will have to work harder to gain consumer loyalty.
With the wealth of data becoming available to companies from the IoT, business models will have to evolve to keep up with technology. With the totality of the data which will be supplied by tomorrow's products, it will make more sense for brands to sell subscription services; for example, rather than selling you a car, car brands would be better off selling you a multi-year subscription that includes the car, fuel, insurance, maintenance and scheduled upgrades to a new model. In this future, subscription based market companies will have to work harder to gain consumer loyalty.