<p>The sharing of consumer data within the Internet of Things (IoT) is currently generating substantial revenue for supply chain participants. Manufacturers collect consumer data through smart devices and share it with IoT platforms to improve technical service delivery. This practice not only enables manufacturers to gain deeper insights into consumers but also raises concerns about consumer privacy. This study employs a game-theoretic model to investigate how the IoT platform’s data-driven service pricing mechanisms and consumer privacy concerns influence data-sharing decisions. The findings are as follows: First, the data-driven strategy remains relatively stable under a usage fee pricing model, regardless of the decision-maker. In contrast, under a flat fee pricing model, data-sharing strategies are significantly influenced by the identity of the decision-maker. Furthermore, when consumer privacy is a major concern, decision-making outcomes consistently lead to lower results, regardless of the decision-maker’s identity. These findings offer important practical implications for organizations within the IoT supply chain, providing valuable insights to enhance decision-making processes related to platform operations and enterprise digital transformation.</p>