The role of data is changing over the years, and presently, data is traded like a product. Currently, digital services are integrated into products. Companies and individuals are discovering the value of data their devices are hoarding, and are presently using that information for profit, exchanging it with and selling it to others in the market. Secure exchange of data has become crucial.

Data exchange platforms convert data from various sources to data in destination format for analysis. The data exchange market is expected to become lucrative and investors are expected to leap on data exchange platform services market owing to the rapid development of Internet of Things (IoT).

Advancements such as the city data exchange in the data exchange platform services market enables large enterprises, small and medium enterprises, and the public sector to integrate multiple sources of data and make it available for public and private entities in order to improve efficiency and effectiveness of their solutions. Shanghai Data Exchange Corp. is building such an electronic platform to trade data and stay at the forefront of technological innovation.

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Globally, increasing usage of data exchange platform services and their functionalities are subject to different guidelines and practices. Data exchange platform services are primarily implemented in the retail sector; however, the benefits of data exchange platform services goes beyond the retail sector.

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Proper valuation of data, data quality control, and value-oriented and quality-oriented data integration are major challenges for the data exchange platform services market. Data exchange platform services are expected to take a wider system perspective and facilitate innovation in the near future, by stimulating the development of third-party applications.