The emerging market that could kill the iPhone

Internet users have heard plenty about third-party aggregators filching their data, spying on them via all manner of cookies and selling Web surfing data to unscrupulous marketers. Much less has been said about what users can do to control their personal information, let alone have a say in who can snoop around, poke into or use it. Until now. A handful of tech startups are competing for a foothold in the emerging market for personal data control products. According to The World Economic Forum, personal data is the asset class of the twenty-first century; users should essentially view their data like "money in a bank."

Forrester Research projects that the nascent business of personal data management is worth billions and could grow substantially over the next 18 to 24 months. In the U.S. alone, over $2 billion is spent annually just collecting consumer data from third-parties. Companies such as Azigo, Mydex, The DataBanker and Personal.com are racing to cash in. How would these personal data lockers work exactly? Picture a cloud-based "hub" that's part virtual safe and part personal digital assistant.