Structured data is used to tell search engines the info about your website, pages, events, products, etc. that they would otherwise have to infer, or may not find at all. That markup, when implemented correctly, frequently (but not always) winds up as rich results for your site when it appears in SERPs. This markup also becomes more important the bigger the Internet of Things gets - after all, structured data is basically metadata.
If you don't care about rich results on your products in SERPs, you don't really need the structured data on those products. However, you might still want to include structured data on your website, for marketing and branding purposes: your "corporate" info, contact info, social links, locations served, etc.