GVR Report coverInternet of Behaviors Market Size, Share & Trends Report

Internet of Behaviors Market Size, Share & Trends Analysis Report By Application (Advertising Campaign, Digital Marketing, Content Delivery, Brand Promotion), By Enterprise Size, By Industry, By Region, And Segment Forecasts, 2023 - 2030

  • Report ID: GVR-4-68040-082-8
  • Number of Pages: 300
  • Format: Electronic (PDF)
  • Historical Range: 2018 - 2021
  • Industry:Technology

Report Overview

The globalinternet of behaviors market sizewas valued atUSD 369.25 billion in 2022and is expected to grow at a compound annual growth rate (CAGR) of 23.6% from 2023 to 2030. The rising trend of companies utilizing data to develop user behavior models for analytical purposes is expected to drive the growth of the market for internet of behaviors (IoB). Additionally, using internet of behaviors (IoB) enables users in decision making and increases procedural efficiency. For instance, companies use internet of behaviors to gather vital information about users for advertising, brand promotion, and application development, among other uses.

U.S. Internet of Behaviors market size and growth rate, 2023 - 2030

Furthermore, the growing trend ofe-commerceis anticipated to drive the IoB market growth due to the demand for customer preference models generated by the internet of behaviors applications. For instance, Amazon.com, Inc. uses user behavior models to predict what product a user might search for next and displays it in the suggestions field to increase the chances of a purchase.

Additionally, e-commerce platforms are also utilizing IoB in mobile phones and other devices by tracking browser cookies, search history, location data, and other data to generate accurate user behavior models. Companies also establish links between all connected devices to create a flowing model across all user devices.

During the COVID-19 outbreak, various industries were closed temporarily and lockdowns were imposed to reduce the spread of the virus, which impacted business operations across regions. IoB-enabled businesses analyzed the changing user behavior during this period and utilized this data in advertisements, digital marketing, brand promotion, and more. Similarly, leading technology companies collected their customers’ data to make strategic decisions regarding expansions or product launches. This, in turn, brought more demand to the market for internet of behavior globally.

Moreover, the trend of digitization across multiple industries, including BFSI, telecom & IT, and healthcare, among others, is expected to drive the growth of the market. For instance, retailers are using IoB for inventory management and for product layouts in stores, based on highest-selling products to lowest-selling products through user data models. Similarly, IoB is expected to have a positive impact on small- and medium-sized enterprises due to varying customer demands. Thus, the IoB market is expected to expand significantly over the forecast period.

Additionally, the integration of technologies such as AI,machine learning, IoT, AR, and more is anticipated to advance the market. For instance, companies useartificial intelligence(AI) to analyze collected data, and interpret & structure it, thereby helping to identify behavioral patterns to generate custom analytical models. Thus, the growing trend of AI usage in tourism & travel, manufacturing, and media & entertainment sectors is anticipated to drive market growth. Furthermore, the increasing number of IoT devices is expected to be a market driver, as they help capture large amounts of data to generate behavioral models.

Application Insights

数字营销领域占一个标志ificant market share of around 29% in 2022. The segment growth can be attributed to the rising frequency of formulation of effective marketing campaigns with the help of IoB. Internet of behaviors assists digital marketers in creating highly personalized and targeted digital ad campaigns with the help of predictive data models. Furthermore, the growing trend of digital platforms is anticipated to drive segment growth, as marketers opt for IoB-based campaigns on such platforms for efficient results.

The brand promotion segment is expected to expand at a CAGR of around 25% during the forecast period. The segment growth can be accredited to the trend of showcasing personalized ads for every user based on the data collected and analyzed via their personal devices. Furthermore, companies are using influencers for brand promotion by leveraging IoB to analyze influencer reach, engagement, and other factors. These factors are expected to drive the brand promotion segment growth over the forecast period.

Industry Insights

The BFSI segment accounted for the largest market share of around 20% in 2022. Driving factors for the segment include the growing amount of user-sensitive data that is required to generate statements and enable automatic notifications in applications. Moreover, the trend of personalized advertisements by banks and other financial institutions to entice users to invest in new products and schemes is expected to be a growth driver. Similarly, the ongoing trend ofsmartphoneand smartwatch banking is expected to drive the adoption of internet of behaviors in the BFSI industry.

The IT & telecom sector is anticipated to grow at a significant pace over the forecast period in the internet of behaviors market. The segment growth can be attributed to the high penetration level of smartphones globally. It is anticipated that telecom companies will utilize IoB to counter stiff competition and attract users for their services in the coming years. Similarly, the IT industry is anticipated to use IoB to predict user behavior for advertisements and user retention purposes.

Enterprise Size Insights

The small & medium enterprises (SMEs) segment accounted for the largest market share of 67.5% in 2022. This dominance is a result of the high number of SMEs around the world. For instance, in June 2022, The World Bank stated that SMEs account for 90% of global businesses. Furthermore, the segment growth can be credited to the growing use of IoT devices in such enterprises due to smart manufacturing and digitization. Additionally, as SMEs are regularly undertaking expansion and development plans, it is expected that they will use IoB to develop efficient strategies to implement the same.

Global Internet of Behaviors market share and size, 2022

The large enterprise segment is anticipated to expand at a growth rate of 26.5% from 2023 to 2030. This can be accredited to substantial data volumes generated in large enterprises that require analysis to determine project decisions. Furthermore, the use of IoB in large enterprises is expected to grow as these companies have multiple data input modes such as user laptop devices, mobile phones, voice assistant data, and more. Moreover, the trend of real-time data notifications based on user behavior to offer live features is anticipated to drive the use of IoB in large enterprises.

Regional Insights

North America accounted for the largest revenue share of 31.6% in 2022, which can be credited to the presence of legacy IT & telecom companies in the region. Moreover, the trend of technological development and the high penetration of modern technologies is anticipated to drive the demand for IoB. Similarly, the growing automobile industry in North America is expected to create demand, as companies can collect driver data such as speed, engine stress, distance travelled, and more. Automobile companies are expected to use this behavioral data to develop vehicles as per customer preferences.

Internet of Behaviors Market Trends, by Region, 2023 - 2030

据估计,亚太地区扩张最快的CAGR of 25.9% during the forecast period. The regional growth can be attributed to the rapid pace of industrial development in the region. Additionally, smart city initiatives in developing countries such as India are expected to push governments to use IoB to develop smart offerings for citizens. For instance, IoB can assist traffic lights equipped with sensors to reduce wait times when there is less footfall of pedestrians, based on collected and analyzed data such as peak pedestrian time, day of the week, and more.

Key Companies & Market Share Insights

Notable players in the market are using strategies, such as partnerships, acquisitions, innovations, R&D, and geographical expansions, to solidify their industry position. Companies are also focusing on improving their product offerings to better suit the changing needs of users to stay competitive. For instance, in January 2023, NICE Ltd. and Cognizant entered a strategic partnership to develop efficient customer experience transformation by utilizing data analytics, artificial intelligence, and more. Some of the prominent players operating in the global internet of behaviors market are:

  • 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

Internet of Behaviors Market Report Scope

Report Attribute

Details

Market size value in 2023

USD 452.07 billion

Revenue forecast in 2030

USD 1,997.31 billion

Growth rate

CAGR of 23.6% from 2023 to 2030

Base year for estimation

2022

Historical data

2018 - 2021

Forecast period

2023 - 2030

Quantitative units

Revenue in USD billion and CAGR from 2023 to 2030

Report coverage

Revenue forecast, company ranking, competitive landscape, growth factors, and trends

Segments covered

Application, enterprise size, industry, region

Regional scope

North America; Europe; Asia Pacific; Latin America; Middle East & Africa

Country scope

U.S.; Canada; U.K.; Germany; France; Italy; Spain; China; India; Japan; South Korea; Brazil; Mexico; South Africa; Saudi Arabia

Key companies profiled

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

Customization scope

Free report customization (equivalent to up to 8 analyst working days) with purchase. Addition or alteration to country, regional & segment scope.

Pricing and purchase options

Avail customized purchase options to meet your exact research needs.Explore purchase options

Global Internet of Behaviors Market Report Segmentation

This report forecasts revenue growth at the global, regional, and country levels and provides an analysis of the latest industry trends in each of the sub-segments from 2018 to 2030. For the purpose of this study, Grand View Research has segmented the global internet of behaviors market report based on application, enterprise size, industry, and region:

  • Application Outlook (Revenue, USD Billion, 2018 - 2030)

    • Advertising Campaign

    • Digital Marketing

    • Content Delivery

    • Brand Promotion

    • Others

  • Enterprise Size Outlook (Revenue, USD Billion, 2018 - 2030)

    • Small & Medium Enterprises (SMEs)

    • Large Enterprises

  • Industry Outlook (Revenue, USD Billion, 2018 - 2030)

    • BFSI

    • Telecom & IT

    • Media & Entertainment

    • Tourism & Travel

    • Retail & E-commerce

    • Healthcare

    • Manufacturing

    • Others

  • 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

Frequently Asked Questions About This Report

gvr icn

GET A FREE SAMPLE

gvr icn

This FREE sample includes market data points, ranging from trend analyses to market estimates & forecasts. See for yourself.

NEED A CUSTOM REPORT?

We can customize every report -free of charge- including purchasing stand-alone sections or country-level reports, as well as offer affordable discounts for start-ups & universities.

Contact us nowto get our best pricing.

esomar icon

ESOMAR certified & member

D&B icon

Leading SME award by D&B

We are GDPR and CCPA compliant! Your transaction & personal information is safe and secure. For more details, please read ourprivacy policy.

great place to work icon