Data generated online will be increasingly used to earn revenue for a range of companies and organisations, according to KPMG.
Malcolm Marshall, partner and head of information protection and business resilience at the Big Four management consultancy, noted that although the past 10 years had seen the arrival of Facebook and a range of other social media platforms, the revolution, so to speak, in online media was only beginning.
"For me, the market is only just beginning to mature. As it grows we can expect users to become far more savvy about the value of their information, and the return they demand from offering a window into their lives and hopes," Marshall said.
He said consumers needed to become better educated about privacy considerations, and social media platforms would need to become more transparent while continuing to grow the market.
Social media platforms would need to reveal the trade-off users were being asked to make between their privacy and the marketing practices of organisations, he suggested.
"Society will debate people's rights over their data, and rightly demand market models which allow users to share in the value generated from that data. All this must be founded on trust between users and social media providers," Marshall said.
"More and more personal data will be traded, not just photographs and postings, but every aspect of lives from our every movement to the always-on video from our personal webcam. Our devices will be online, reporting on the food we eat, the electricity we use, and even how we drive our car."
Marshall said, however, that "innovative models" would emerge that enabled such data to be exploited – although concerns would grow regarding its use and abuse, including by criminals and governments.
"We can expect governments to attempt regulation of social media, whether to protect the vulnerable or to limit free speech," he added. "We can expect more cases around defamation and even debates on who owns the rights to your social media presence after death."
Facebook began 10 years ago and earned $7.9bn (£4.8bn) in 2013 by marketing the data of its 1.2bn active users – or $6.50 per user.
Trevor Connell, West region managing director at Unify – until recently known as Siemens Enterprise Communications – said the popularity of the social network highlights society's increasing digital connectivity.
"People are using it (Facebook) for an increasingly diverse range of purposes, from sharing pictures to communicating with select groups of friends or colleagues," Connell said. "Many businesses also use Facebook for promotion and engagement with an audience and with their team members."
The growth of social media, BYOD and other IT trends is reducing worker dependence on certain locations. A survey Unify conducted last year suggested only a quarter of employees now spend all five working days in the office, he claimed.
Infrastructure provider says international sales now make up 51 per cent of its revenue
Suzanne Chappell of TMS plans sailing venture after selling Oxfordshire-based TMS to acquisitive Chess
Withdrawal of credit insurance by some providers a 'reflection' of current challenge facing IT sector, according to MD Steve Soper
SMART's UK managing director joins Lenovo to boost SMB business