Internet of Behaviors Market to be Worth $1,997.31 Billion by 2030: Grand View Research, Inc.

SAN FRANCISCO, June 13, 2023 /PRNewswire/ -- 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.

Key Industry Insights & Findings from the report:

• 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.

Read 300 page market research report for more Insights, "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", published by Grand View Research.

Internet of Behaviors Market Growth & Trends

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.

Internet of Behaviors Market Segmentation

Grand View Research has segmented the global internet of behaviors market based on application, enterprise size, industry, and region:

Internet of Behaviors Market - Application Outlook (Revenue, USD Billion, 2018 - 2030)

• Advertising Campaign
• Digital Marketing
• Content Delivery
• Brand Promotion
• Others

Internet of Behaviors Market - Enterprise Size Outlook (Revenue, USD Billion, 2018 - 2030)

• Small & Medium Enterprises (SMEs)
• Large Enterprises

Internet of Behaviors Market - Industry Outlook (Revenue, USD Billion, 2018 - 2030)

• BFSI
• Telecom & IT
• Media & Entertainment
• Tourism & Travel
• Retail & e-Commerce
• Healthcare
• Manufacturing
• Others

Internet of Behaviors Market - 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

Check out more related studies published by Grand View Research:

• In-app Advertising Market - The global in-app advertising market size is anticipated to reach USD 410.4 billion by 2030, exhibiting a CAGR of 13.2% over the forecast period, according to a new report published by Grand View Research, Inc. The increasing adoption of smartphones and rising user preference for mobile apps for gaming, online shopping, and other activities is offering enormous growth opportunities for the global in-app advertising industry.
• Digital Experience Platform Market - The global digital experience platform market size is estimated to reach USD 30.41 billion by 2030, growing at a CAGR of 11.9% over the forecast period, according to a new report by Grand View Research, Inc. Incumbents of several industries and verticals have started using a customer-centric approach to deal with real-time customer data. Digital experience platforms (DXP) can help these industries in achieving a holistic view of activities, customer interactions, and data across multiple applications and touchpoints.
• Internet Of Things (IoT) In Retail Market - The global internet of things in retail market size is expected to reach USD 297.44 billion by 2030, growing at a CAGR of 28.4% from 2023 to 2030, according to a new report by Grand View Research, Inc. This growth is attributed to the adoption and implementation of connected technologies, such as Bluetooth Low Energy (BLE) and Near-Field Communication (NFC), for enhanced shopping and payment experience. Furthermore, with the reduced cost of IoT sensors and hardware, the demand for a seamless shopping experience is expected to fuel the adoption of IoT in the retail market. The growing acceptance of smart payments in the retail sector is also one of the major factors that will drive the industry's growth over the forecast period.

Browse through Grand View Research's  Next Generation Technologies Industry Research Reports.

About Grand View Research

Grand View Research, U.S.-based market research and consulting company, provides syndicated as well as customized research reports and consulting services. Registered in California and headquartered in San Francisco, the company comprises over 425 analysts and consultants, adding more than 1200 market research reports to its vast database each year. These reports offer in-depth analysis on 46 industries across 25 major countries worldwide. With the help of an interactive market intelligence platform, Grand View Research Helps Fortune 500 companies and renowned academic institutes understand the global and regional business environment and gauge the opportunities that lie ahead.

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