It has been a rough few years for investors of BlackBerry Ltd. (TSX:BB)(NASDAQ:BBRY). Whereas the company was once the dominant phone maker in the world, with everyone wanting to own their very own “Crackberry,” now the company is a shell of its former self. It lost the phone war to Google and Apple.

Now BlackBerry could do one of two things. The first is that it can continue trying to make phones, hoping that one of its products shines and it maybe takes a small chunk of market share from the giants. But if you ask me, I think that’s a pointless argument. The second thing it can do is, and I believe this is the right move, is to focus on software.

If we think about what makes BlackBerry great, it’s the fact that it is the “king of mobile security.” No one can dispute that claim; there is no one good enough to usurp the king. All along, it has been the software that makes BlackBerry great.

And CEO John Chen seems to agree with this statement a little bit. He wants the company to hit US$600 million in software-related revenue in FY2016, which is certainly a lofty goal. One of the ways that it will hit this goal is by generating significant revenue from BBM. With close to 100 million members, I see no reason that it can’t generate at least $1 per user per year. If you ask me, I think there is even more money to be made, but the company wants to be conservative.

Future software will make billions

If BlackBerry can succeed at taking market share in the Internet of Things, the company is going to be much bigger than it is today. We can already see examples of this market with its partnership with Ford to put its operating system, QNX, in a long lineup of cars. Microsoft was originally partnered with Ford, but Ford, like many other companies, realized that BlackBerry was better.

Another automotive market that BlackBerry can hope to gain success in is with the driverless car market. Whether we like it or not, robots are probably going to be better drivers than humans. By 2025 this will be a US$42 billion market, and because of its QNX software, I see little reason for BlackBerry to be watching on the sidelines.

The reason for all of this is simple: security. The last thing you want is someone to be able to hack your car and crash it. You need to know that your car is completely secure, and if there is one company that can achieve that, it is BlackBerry.

The future for BlackBerry remains very uncertain. IoT could be a dud and driverless cars could fail miserably. When it comes to futuristic technology, anything is possible.

Another outcome could be that BlackBerry just gets acquired. We already know that Samsung has been gunning for the company. At some point, the company will have to admit that it has categorically failed and it should sell.

But I don’t believe that we are at that point yet. So, for the near future, we should hope that BlackBerry will focus on software and grow its market share in both current and futuristic technologies. Who knows? In a decade, we may be thinking of BlackBerry as one of the greatest software companies on the planet.

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Fool contributor Jacob Donnelly has no position in any stocks mentioned. David Gardner owns shares of Apple, Ford, Google (A shares), and Google (C shares). Tom Gardner owns shares of Google (A shares) and Google (C shares). The Motley Fool owns shares of Apple, Google (A shares), Google (C shares), and Microsoft.