The global internet of behaviors market size is expected to reach USD 1,997.31 billion by 2030, expanding at a CAGR of 23.6% from 2023 to 2030, according to a new study by Grand View Research, Inc. The growing trend of data collection for behavioral analysis is expected to drive market growth. Moreover, the popularity of connected devices, including smartphones, smartwatches, and other electronic devices, is expected to push companies to use the internet of behaviors (IoB) to develop behavioral models for analytical purposes.
The industry is witnessing an influx of new players involved in modern technologies such as the internet of things, machine learning, and artificial intelligence. Such companies enter the market for internet of behaviors to develop user data models for various sectors, including IT & telecom, healthcare, and manufacturing, among others. Companies in these industries are using modern technologies such as AI and IoT to efficiently collect large amounts of relevant data to build predictive models. For instance, during the COVID-19 pandemic, some enterprises used IoB to check health protocols at workplaces.
North America accounted for the largest market share in 2022, owing to the high level of technology and IoT penetration in the region. For instance, as of April 2023, North America had more than 2.8 billion IoT connections. Additionally, the trend of industrial digitization and integration of modern technologies is expected to push industries to utilize IoB alongside technologies such as augmented reality and machine learning.
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Based on enterprise size, the large enterprises segment is anticipated to expand at a CAGR of 26.5% over the forecast period, due to the substantial amount of data generated in large enterprises that requires analysis to determine project decisions
Based on application, the advertising campaign segment accounted for the largest market share in 2022, as a result of the growing trend of personalized advertisements with the help of the Internet of Behaviors concept
Based on industry, the BFSI segment accounted for the largest market share in 2022 due to the growing amount of user-sensitive data that is required to generate statements and enable automatic notifications in applications
North America dominated the market in 2022 due to the steadily growing technology implementation in the region, coupled with the presence of legacy IT & telecom companies
Grand View Research has segmented the global internet of behaviors market based on application, enterprise size, industry, and region:
Internet of Behaviors Application Outlook (Revenue, USD Billion, 2018 - 2030)
Advertising Campaign
Digital Marketing
Content Delivery
Brand Promotion
Others
Internet of Behaviors Enterprise Size Outlook (Revenue, USD Billion, 2018 - 2030)
Small & Medium Enterprises (SMEs)
Large Enterprises
Internet of Behaviors Industry Outlook (Revenue, USD Billion, 2018 - 2030)
BFSI
Telecom & IT
Media & Entertainment
Tourism & Travel
Retail & e-Commerce
Healthcare
Manufacturing
Others
Internet of Behaviors Regional Outlook (Revenue, USD Billion, 2018 - 2030)
North America
U.S.
Canada
Europe
U.K.
Germany
France
Spain
Italy
Asia Pacific
China
India
Japan
South Korea
Latin America
Brazil
Mexico
Middle East & Africa
South Africa
Saudi Arabia
List of Key Players in Internet of Behaviors (IoB) Market
Aware, Inc.
Trifacta, Inc. (Alteryx, Inc.)
Vertica Systems (OpenText Corporation)
NICE Ltd.
NuData Security Inc. (Mastercard Inc.)
Riverbed Technology LLC
Qubit Technology (Coveo Solutions Inc.)
CognitiveScale Inc.
Capillary Technologies
Sweet Analytics Limited