Towards a General Market for Cloud-Edge-IoT Continuum

TL;DR

This paper advocates for a shift from vertical single-market platforms to horizontal multiple-marketplaces in cloud-edge-IoT environments, aiming to reduce lock-in and enhance market flexibility and growth.

Contribution

It proposes a novel horizontal market model with multiple independent marketplaces and brokers, contrasting with existing vertical single-market systems, to improve buyer choice and market scalability.

Findings

HMM overcomes VSM lock-in issues.

HMM enables incremental and organic market growth.

Use cases demonstrate HMM benefits.

Abstract

Recent years have witnessed the proposals aiming at enabling Vertical, two-sided markets with a Single Marketplace (or exchange) (VSMs) for computing and data resources/services (products) offerings in a multi-cloud and crowdsourced IoT-edge sensing environment. A VSM is designed vertically from bottom up with a broker being a built-in component of the marketplace. While preventing seller lock-in and improving efficiency and availability, a VSM suffers from a key weakness from a buyer's perspective, i.e., the broker and the corresponding marketplace lock-in, which may lead to suboptimal shopping experience for buyers, due to marketplace monopoly by the broker and limited choice of products in the marketplace. In this position paper, we argue that a Horizontal two-sided market with Multiple Marketplaces (HMM), resembling the global stock market, should be developed. In an HMM, different marketplaces may be operated by different parties and sell similar and/or different types of products, e.g., computing and/or sensory data products. A broker is no longer a built-in component of any given marketplace. Instead, it may cover multiple marketplaces at the same time and there can be more than one broker in the HMM. Both the number and types of marketplaces and brokers may grow independently or scale horizontally to meet the growing demand. A buyer shops for a broker through whom the buyer gains access to the needed products sold in the marketplace(s) the broker covers and from whom the buyer receives various possible services, e.g., discount, value-added, or full services. An HMM not only overcomes the key weakness of a VSM but also allows the market to grow incrementally and organically. Finally, two example use cases are given to illustrate the benefits of HMM.