The EU Data Act is a legislative proposal published by the EU Commission as part of its European Strategy for Data. It strives to maximise the value of data in the European economy. The innovation of most products and services depends on the analysis of large amounts of data. Currently, relevant data is however insufficiently shared within and across sectors. Therefore, the Data Act intends to empower users of Internet of Things (IoT) devices to seek access to their data and to share them with third parties. This way, the Commission intends to strengthen innovation and competition.