Data marketplace for Internet of Things

Abstract

The data generated by Internet of Things (IoT) devices is mostly owned by device owners and is often private in nature. There are however third parties that could benefit from using that data, and the challenge is in allowing them to access it under the conditions that data owners find acceptable. An opportunity presents itself to create a marketplace where device owners could sell that data and data consumers could buy it. Some properties of IoT data make it difficult to trade in traditional data markets. We hypothesise that it is possible to develop an efficient algorithm that responds to data consumer's queries in a way that it's budget constraints are respected and that device owners are compensated for the data they provide. In this paper we create a model of such a market, analyse it's query performance, expected earnings of device owners and utility achieved by data consumers and conclude that data markets in IoT are a viable method of distributing generated measurements.