This IDC Perspective provides an overview of data marketplace services. It explains the advantages of data marketplaces in general and the different services that marketplaces offer to reduce friction and increase the number of DaaS transactions. It further explains the advantages for both buyers and sellers of data and some of the features that different data marketplaces provide. It also provides examples of future direction for data marketplace services.
"The costs of buying or selling data sets via data as a service extend beyond the cost of the data license. Data marketplaces serve a valuable role in simplifying the data set discovery process, bringing parties together, and providing value-added services that reduce friction in the DaaS market," said Lynne Schneider, research director, Data as a Service. "In this exciting emerging area of DaaS, these marketplaces are providing a bridge between buyers and sellers. They are a vital tool for new entrants to the DaaS market looking for buyers and can serve as a comparison tool for buyers. There is a lot of potential for the marketplaces to facilitate growth for the DaaS market overall."