It's well-established that data is the new oil when its come to the monetization of the Internet of Things. The sheer scale of connected devices spewing forth data is expected by some to give rise to a 'Machine Economy' where devices will trade everything from storage, computation/analytics to electricity and sensor data. Currently, it's suggesting that much of the data generated by connected devices sits in silos without analysis or offering business solutions or insights to anyone. We've seen a few examples where companies have aimed to monetize personal consumer data, but they are in their infancy. However, overall, when it comes to the& Internet of Things& space, we are seeing an increasing usage of data brokerage and data monetization platforms.
For example, digital security company& Gemalto, providers of mobile connectivity, payment technology, and data protection solutions to manage services, are now working on providing mobile providers with the means to monetize user data: "With unique knowledge of every subscriber and real insight into their equipment, browsing habits, application download history, location, and mobility patterns, this represents a valuable new revenue opportunity that requires no additional investment." They stress that their model is strictly opt-in, suggesting that telcos should offer subscribers rewards for sharing their data.&