As access to information has become critically important in our society, we are witnessing an “information race” where many initiatives for data access are proliferating. Recently, a new economy around data has emerged with a growing number of data markets. The term data market covers a whole range of activities where value is derived from data, thus providing benefits to many stakeholders. The data market ecosystem is for its most part uncontrolled, and the actions for creating a secure space are highly fragmented. These main issues undermine the emergence and the development of this critically important ecosystem for the future. Hence, this dissertation addresses the question of the design of fair and responsible data market ecosystems. We study the constituents of data markets and propose a global approach towards the design of a framework for fair and responsible data market ecosystems enabling transparency, trust, fairness and accountability.