Massive growth of devices and systems connected to the Internet raises technology and policy challenges on a new scale. With an ever more heterogeneous and complex environment of IoT, these connected objects generate large data volumes. This massive data feeds the data economy and opens up new business opportunities. Currently, the majority of IoT revenues are based on cloud-based services as a dominant economic model for IoT business models. Will it be the case in the next decade?

This session will discuss how the cloud, along with more recent IoT trends, influence data markets and shape Europe’s role in the data economy. The session will focus on 4 recent cross-influencing phenomena in the IoT and data worlds:

• Will data spaces create sufficient conditions for sharing of IoT data and emergence of new cross-sectoral IoT business models?
• What can we learn about today’s models of data valorisation and business models of data market places in sectors like smart city?

• What could be the economic impact provided by data spaces for innovative services and applications, enabled through established principles and rules for data sharing ?Will they have a knock-on effect on IoT applications and investments in IoT infrastructure?
• Will the decentralization trend in the IoT sector reshape the potential position of European players in an emerging data economy ?