Brokering Intelligence as a Service for the Internet of Things

The Internet of Things (IoT) has been hailed as the next best industrial revolution and is expected to influence the global economy. The tide has begun to shift away from old ways and several companies are working towards providing novel IoT applications and development solutions, which will change the way we approach everyday tasks in the future. The IoT ecosystem is characterized by complex interactions between technology, data suppliers and users, raising the need for an intermediate entity, the IoT broker and the corresponding brokering intelligence as a service, for the IoT business model. The main objective of this article is to introduce the innovative concept of the IoT broker, which will play an important role in the IoT networks, describe its conceptual framework and analyze the intermediation services by presenting typical case studies.