Glossary

IoT Marketplace

An Internet of Things (IoT) marketplace is a type of application marketplace. At an IoT marketplace, customers can go to an online storefront to find, purchase, and manage applications for their IoT devices. These devices span a wide range of sectors, from consumer—such as smart watches or automobiles—to industrial, which can include manufacturing equipment, to healthcare, and more.

IoT marketplaces can offer varying degrees of functionality, from simple downloads to a full digital commerce experience that allows customers to buy and immediately provision software to their devices which are updated over the air (OTA).

For many IoT marketplaces, a key offering is the data that is produced by smart devices. In fact, 40 percent of IT projects will result in ways of monetizing data by 2019.