Data Marketplace The Next IoT Frotier Abstract The IoT space is expected to witess sigi cat actio, with a host of iche service providers ad techology start-ups eterig the scee, ad makig way for market cosolidatio. Real differetiatio will be achieved through the 'IoT Data-as-a-Service (DaaS)' busiess model a cocept primarily drive by a IoT marketplace ecosystem, where irrespective of who ows assets or data, a third party is willig to pay for this data to create iche services.
The Evolvig Ecosystem of the IoT Data Marketplace While IoT techologies cotiue to drive busiess process optimizatio, the ext frotier is a data marketplace that allows secure ad ower-cotrolled exchage of IoT data betwee etities that use it to create specialized services ad deliver sigi cat value to customers. This etire busiess model revolves aroud utility, quality, ad timeliess of IoT data. Sice sesor data is estimated to represet 10% of the world's data, it is oly a matter of time before useful, raw, or processed sesor data is sold to third parties for further use, resultig i the emergece of advaced busiess ad acial models. Third parties ca iclude brokers, itermediaries, ad multiple vedors, ad the data will be aoymized i most cases. Accordig to a EMC report, 'The Digital Uiverse of Opportuities: Rich Data ad the Icreasig Value of the Iteret of Thigs', the digital data created, replicated, ad cosumed aually doubles every two years ad is poised to reach 44 trillio 1 gigabytes by 2020. Usage Scearios that Ucover Value from the IoT A IoT marketplace would eable producers ad cosumers to share, curate, combie, ad ehace IoT data. For example: A heavy equipmet maufacturer shares equipmet usage ad performace data with spare parts vedors ad service orgaizatios to cross-sell, repositio, ad budle aftermarket services. A retail store provides: Aoymized cosumer behavior data (demographics, social pro le, age, geder, time spet at a product zoe) to product maufacturers for persoalized, cotextual, ad real-time marketig. Real-time locatio data of customers to safety departmets to improve evacuatio procedures durig emergecies. A evirometal moitorig solutio shares air quality ad pollutio data to: No-govermet orgaizatios, citizes, or govermet agecies for better policy-makig. Maufacturers of evirometal quality products, audit compaies, ad service providers.
Compaies ca choose to limit the amout of data they wish to share, usig a secure data exchage platform. A aggregator combies weather or wid speed iformatio from multiple sources ad creates a wid speed forecastig estimate model, the isights from which ca be used to improve widmill operatios. A public data hub ca be created with 'shareable' iformatio, such as mobile umbers ad email IDs of people who use these attributes to get free WiFi access at airports, coffee shops, ad other locatios. The IoT data marketplace is a exteded cocept where such public data hubs ca collect tos of iformatio without violatig citize privacy ad device security. The marketplace ca also become a part of the govermet's ope data iitiatives. For istace, i Idia, the Ope Govermet Data (OGD) Platform aims to icrease trasparecy i govermet fuctioig, ad ope aveues 2 for iovative uses of govermet data. Similar iitiatives 3 are uderway i the Uited Kigdom (UK) ad the Uited 4 States (US), ad oe ca already view differet kids of data sets beig published o such platforms. New Opportuities that Drive a Successful IoT Marketplace Strategy While the majority of iformatio will come from coected devices, it will ivariably be supplemeted by exteral data like weather, cosumer prefereces, or data from eterprise systems. I the IoT Data Marketplace, stakeholders iclude IoT data owers or producers, itermediate etities that act as brokers betwee buyers ad sellers, ad data cosumers. There will be additioal players that provide ifrastructure, marketplace platform services, catalog services, ad trade ad trasactio services. Itermediaries will play a key role i creatig data mash-ups, coductig data aggregatio ad de-ideti catio, ad i some cases, erichig the data from oe source ad creatig a relatively more value-added data product. IoT Ifrastructure A IoT marketplace eeds a scalable ad secure platform for data sellers, subscribers, ad buyers with these services or features. Applicatios ad users should be able to: Capture data ad metadata of evets ad observatios from real-world etities, physical pheomeo, sesors, or devices. Discover ad catalog data to help buyers search for available data sets through either a directory service or search facility
usig a combiatio of asset, sesor, metadata, ad quality ad proveace iformatio. Query data to retrieve stored master data, time series data ad metadata. Joi or lik sesor or device data with other related iformatio i order to provide a composite view. Check for data quality issues, idetify aomalies, ad automatically x them. Specialized aotatios ad metadata may be tagged to the observatio data to provide proveace iformatio to ascertai the source ad lieage. Mask ad aoymize data poits, i order to remove ay Persoally Ideti able Iformatio (PII). Publish data: used by data publishers or sellers to package their data products i a way such that it is ready to be sold ad cosumed. Data cosumer 1 Data cosumer 2 Data cosumer Messages Web Services IT Applicatios Data Marketplace services Aggregatio Privacy ad security Maskig ad aoymizatio Itermediaries, brokers ad multi-vedors Catalog services Busiess models Data Olie Services Servers Click Streams Data producer 1 Data producer 2 Data producer Automobiles Healthcare Systems Logistics equipmets Plat oor equipmet Buildigs Eviromet moitorig systems Figure 2: Represetative Buildig Blocks of a IoT Data Marketplace Security ad Privacy Widespread adoptio of IoT ca become possible oly whe data access, idetity maagemet, cotrol, ad privacy are igraied ito the desig of a IoT data marketplace. Both, durig igestio ad publishig, the IoT platform: Needs to provide data maskig, aoymizatio, ad deideti catio services to safeguard PII Should ot be allowed to store ay sesitive data
Robust Trasactioal Model Ethereum is aother protocol that is beig used to develop smart cotracts through peer-to-peer secured trasactios. To eable commercial trasactios, paymets, ad settlemets, the data marketplace should: Meet all regulatory requiremets outlied for ecommerce platforms Be desiged to esure that trasactios are secure, reliable, ad scalable A framework based o Blockchai facilitates smooth trasactio processig ad seamless coordiatio amog 5 iteractig devices. Some compaies have also started offerig 'Blockchai-as-a-Service' for buildig distributed ledger applicatios. Coclusio As IoT techologies gai tractio, eterprises, govermets, ad cosumers realize the immese potetial of coected thigs. The cocept of a IoT data marketplace, while still i its ifacy, will lead to icremetal value creatio ad moetizatio across the value chai. The techology compoets of a IoT marketplace are gradually maturig ad covergig. Data is poised to become the ew currecy or product, ad eterprises ad cosumers eed to be aware of the implicatios, icludig how the etire realm of IoT deploymets is shapig up. Comprehedig ad graspig the opportuities that a IoT marketplace offers, ad cotextualizig them for busiess improvemet, will help compaies remai competitive ad geerate sustaiable busiess bee ts. Refereces [1] EMC, Digital Uiverse Ivaded By Sesors (April 2014), accessed October 14, 2015, http://www.emc.com/about/ews/press/2014/20140409-01.htm [2] data.gov.i, Ope Govermet Data (OGD) Platform Idia, Motor Trasport Statistics: 2001-2002, accessed October 17, 2015, https://data.gov.i/catalog/motor-trasport-statistics- 2001-2002 [3] data.gov.uk, Publishers, accessed October 17, 2015, https://data.gov.uk/publisher [4] data.gov, accessed October 17, 2015, http://www.data.gov/ [5] Blockchai Ifo, Begier's FAQ, accessed October 14,2015, https://blockchai.ifo/wallet/bitcoi-faq
About The Authors Sukriti Jalali Head IoT Iitiatives Group,, TCS Sukriti is resposible for developig IoT-led solutios ad services through collaboratio with ecosystem players, ad supportig digital ad eterprise trasformatios. Her areas of expertise iclude real time solutios, embedded systems, coected equipmet, ad digital techologies. Prateep Misra Head IoT Techology ad Egieerig group, Corporate Techology Office, TCS Prateep has experiece i software developmet, research, techology cosultig, ad software quality assurace. His areas of expertise iclude embedded systems, RFID, IT ifrastructure, real-time aalytics, ad cloud computig. About TCS' High Tech Busiess Uit Accelerated idustry growth, rapid techological obsolescece, ad the eed for faster time to market compel High Tech orgaizatios to improve busiess agility. TCS' High Tech solutios address fudametal idustry problems, improve process efficiecy, ad ehace productivity ad collaboratio across busiesses, while optimizig costs ad overheads. From providig support for software product egieerig ad supply chai maagemet, to developig breakthrough solutios usig the Iteret of Thigs, cloud, Big Data, mobility, ad other digital techologies, we empower idustry players computer platform ad services compaies, software firms, electroics compaies, ad professioal services firms to compete effectively. Complemetig our comprehesive portfolio of IT solutios, busiess cosultig, product egieerig services, ifrastructure services, ad busiess process services, are our parterships ad alliaces with leadig idustry vedors. Dedicated iovatio labs ad the Tata Research Developmet ad Desig Ceter (TRDDC) offer our cliets access to cuttig edge techologies, advaced systems egieerig methodologies, storage optimizatio, ad covergece solutios. Cotact Visit TCS High Tech uit page for more iformatio Email:.marketig@tcs.com Subscribe to TCS White Papers TCS.com RSS: http://www.tcs.com/rss_feeds/pages/feed.aspx?f=w Feedburer: http://feeds2.feedburer.com/tcswhitepapers About Tata Cosultacy Services Ltd (TCS) Tata Cosultacy Services is a IT services, cosultig ad busiess solutios orgaizatio that delivers real results to global busiess, esurig a level of certaity o other firm ca match. TCS offers a cosultig-led, itegrated portfolio of IT ad IT-eabled, ifrastructure, egieerig ad assurace services. This is TM delivered through its uique Global Network Delivery Model, recogized as the bechmark of excellece i software developmet. A part of the Tata Group, Idia s largest idustrial coglomerate, TCS has a global footprit ad is listed o the Natioal Stock Exchage ad Bombay Stock Exchage i Idia. For more iformatio, visit us at www.tcs.com All cotet / iformatio preset here is the exclusive property of Tata Cosultacy Services Limited (TCS). The cotet / iformatio cotaied here is correct at the time of publishig. No material from here may be copied, modified, reproduced, republished, uploaded, trasmitted, posted or distributed i ay form without prior writte permissio from TCS. Uauthorized use of the cotet / iformatio appearig here may violate copyright, trademark ad other applicable laws, ad could result i crimial or civil pealties. Copyright 2016 Tata Cosultacy Services Limited TCS Desig Services I M I 11 I 16