Market Design for IoT Data and Services the Emergent 21Th Century Commodities

Abstract

In this work we discuss and propose a marketplace concept for the Internet of Things (IoT). We start from the vision that unlike the current IoT landscape where tech and consulting companies provide complete “solutions” for some vertical markets, in future we might witness an “uberization” of IoT, where every person or company will be able to offer or “consume” sensor data, actuator access and data analytics services to/from anybody else, leading to several marketplaces where these IoT services will be traded and exchanged. In this line, we assume that data and information about the places, things and persons will be the major asset in our future society, and that physical objects and cloud-based computing environments will be simply the resources that will allow greater interaction between the physical and digital world. In this paper, we present our initial analysis about the main principles and technologies enabling future trade of sensor data and actuation access, and how it might affect the economic organization of our society today.