Many technology companies have been moving toward a
subscription model from upfront licensing to build a predictable, recurring
business.
While some of Nokia’s software portfolio will be offered
under subscription from this year, more will be commercially available in early
2022.
When Nokia created its software division in 2016, the idea
was to get into subscription too, but we never executed, Senior Vice President
Mark Bunn said in an interview.
“Now we have executed on it … we have built underlying
technology to be able to operate at scale,” he said.
A cloud-based software platform can lower costs, make it
easier to deploy and manage, and customers can try the platform before
committing for long-term use.
Nokia, which has been in discussions with potential
customers, said it is targeting an addressable market of $3.1 billion for the
2021-2025 period, with an annual growth rate of about 25-30%. -Reuters
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