17 Nov 2021
Nokia to Introduce Cloud-Based Software Subscription Service
The Index Today
Nokia announced plans on Wednesday to launch a cloud-based software subscription service aimed at telecom companies for providing analytical software and programs for security and data management.
Many technology companies have started shifting towards new subscription models which include upfront licensing that help businesses. Software subscriptions from Nokia are expected to be available in the market by early 2022, although some are being offered now.
The company set up its software decision back in 2016 and aimed to build software subscription models sometime in the future. Senior Vice President Mark Bunn said during an interview, “Now we have executed on it…we have built underlying technology to be able to operate at scale.” With a cloud-based software platform, business can lower costs and also easily manage customers by enabling them to try before buying or committing in the long run.
Nokia aims to target a market worth $3.1 billion during 2021 and 2025, and expects an annual growth rate of 25% to 30%. The company is currently in talks with potential customers to enhance its consumer base across regions.