Data Marketplaces enabling the exchange of data sets and data streams are analogous to Digital Marketplaces such as eBay, an analogy made interesting by the fact that few predicted the meteoric rise of eBay and its compatriots. Stories told about eBay’s launch in 1995 quote prominent venture capitalist David Cowan as saying: “Stamps? Coins? Comic books? You’ve GOT to be kidding. No-brainer – pass”.
It is now estimated that Digital Marketplaces will impact 40 per cent of worldwide retail by 2020.
Data Marketplaces, in particular dealing with IoT, face scepticism similar to that seen at the launch of e-commerce. Some have questioned their commercial viability. And much like the early days of eBay, existing Data Marketplaces have focused initially on niche opportunities. However, we believe there is huge potential for Data Marketplaces to succeed as first-movers establish themselves or scale-up their efforts by consolidating adjacent opportunities.
Today we have a range of reasons to believe that the market drivers for IoT-enabled Data Marketplaces are solid, especially with the Internet of Things (IoT) becoming pervasive.
White paper could be found here.