By Sukriti Jalali, Head – IoT Initiatives Group, HiTech and Prateep Misra, Head – IoT Technology and Engineering group, Corporate Technology Office; TCS

In this whitepaper, we explain the concept of IoT Data Marketplace including usage scenarios, stakeholders, security and privacy consideration. Comprehending the opportunities that such a marketplace offers will help companies remain competitive and enable them to generate sustainable and long-term business benefits.

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The Internet of Things (IoT) is rapidly gaining center stage. While IoT continues to drive business process optimization, the next frontier of this breakthrough concept is envisaged to be a business model based on a data marketplace - one that allows secure and owner-controlled exchange of IoT data between entities that use it to create specialized services, thereby delivering significant value to customers. Since sensor data is estimated to represent 10 percent of the world's data, it is only a matter of time before useful, raw or processed sensor data is sold to third parties for further use, resulting in the emergence of advanced business and financial models.

The concept of an IoT data marketplace, while still in its infancy, will lead to incremental value creation and monetization across the value chain. The technology components of an IoT marketplace are gradually maturing and converging.

As data becomes the new currency or product, enterprises and consumers need to be aware of the implications and how the entire realm of IoT deployments is shaping up. Comprehending and grasping the opportunities that an IoT data marketplace offers will help companies remain competitive and enable them to generate sustainable and long- term business benefits.

In this whitepaper, we discuss the following:

The Evolving Ecosystem: IoT Data Marketplace

Uncover value from the IoT: Usage scenarios

Discover new opportunities: Drive a successful IoT marketplace strategy

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