Internet Of Behaviors Market Size, Share, Report 2023-2032
The global internet of behaviors market was estimated at USD 0.38 trillion in 2022 and it is expected to surpass around USD 3.17 trillion by 2032, poised to grow at a CAGR of 23.63% from 2023 to 2032. The internet of behaviors market in the United States was accounted for USD 97.2 billion in 2022.
Key Pointers
Report Scope of the Internet of Behaviors Market
| Report Coverage | Details |
| Revenue Share of North America in 2022 | 32% |
| CAGR of Asia Pacific from 2023 to 2032 | 25.94% |
| Revenue Forecast by 2032 | USD 3.17 trillion |
| Growth Rate from 2023 to 2032 | CAGR of 23.63% |
| Base Year | 2022 |
| Forecast Period | 2023 to 2032 |
| Market Analysis (Terms Used) | Value (US$ Million/Billion) or (Volume/Units) |
| Companies Covered | 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 |
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.
Furthermore, the growing trend of e-commerce is 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 use artificial 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
The digital marketing segment accounted for a significant market share of around 30% 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 25.03% 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 21% 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 of smartphone and 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 68% 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.
The large enterprise segment is anticipated to expand at a growth rate of 26.53% from 2023 to 2032. 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 32% 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.
Asia Pacific is estimated to expand at the fastest CAGR of 25.94% 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.
Internet of Behaviors Market Segmentations:
By Application
By Enterprise Size
By Industry
By Regional
Chapter 1. Introduction
1.1. Research Objective
1.2. Scope of the Study
1.3. Definition
Chapter 2. Research Methodology
2.1. Research Approach
2.2. Data Sources
2.3. Assumptions & Limitations
Chapter 3. Executive Summary
3.1. Market Snapshot
Chapter 4. Market Variables and Scope
4.1. Introduction
4.2. Market Classification and Scope
4.3. Industry Value Chain Analysis
4.3.1. Raw Material Procurement Analysis
4.3.2. Sales and Distribution Application Analysis
4.3.3. Downstream Buyer Analysis
Chapter 5. COVID 19 Impact on Internet of Behaviors Market
5.1. COVID-19 Landscape: Internet of Behaviors Industry Impact
5.2. COVID 19 - Impact Assessment for the Industry
5.3. COVID 19 Impact: Global Major Government Policy
5.4. Market Trends and Opportunities in the COVID-19 Landscape
Chapter 6. Market Dynamics Analysis and Trends
6.1. Market Dynamics
6.1.1. Market Drivers
6.1.2. Market Restraints
6.1.3. Market Opportunities
6.2. Porter’s Five Forces Analysis
6.2.1. Bargaining power of suppliers
6.2.2. Bargaining power of buyers
6.2.3. Threat of substitute
6.2.4. Threat of new entrants
6.2.5. Degree of competition
Chapter 7. Competitive Landscape
7.1.1. Company Market Share/Positioning Analysis
7.1.2. Key Strategies Adopted by Players
7.1.3. Vendor Landscape
7.1.3.1. List of Suppliers
7.1.3.2. List of Buyers
Chapter 8. Global Internet of Behaviors Market, By Application
8.1. Internet of Behaviors Market, by Application, 2023-2032
8.1.1 Advertising Campaign
8.1.1.1. Market Revenue and Forecast (2020-2032)
8.1.2. Digital Marketing
8.1.2.1. Market Revenue and Forecast (2020-2032)
8.1.3. Content Delivery
8.1.3.1. Market Revenue and Forecast (2020-2032)
8.1.4. Brand Promotion
8.1.4.1. Market Revenue and Forecast (2020-2032)
8.1.5. Others
8.1.5.1. Market Revenue and Forecast (2020-2032)
Chapter 9. Global Internet of Behaviors Market, By Enterprise Size
9.1. Internet of Behaviors Market, by Enterprise Size, 2023-2032
9.1.1. Small & Medium Enterprises (SMEs)
9.1.1.1. Market Revenue and Forecast (2020-2032)
9.1.2. Large Enterprises
9.1.2.1. Market Revenue and Forecast (2020-2032)
Chapter 10. Global Internet of Behaviors Market, By Industry
10.1. Internet of Behaviors Market, by Industry, 2023-2032
10.1.1. BFSI
10.1.1.1. Market Revenue and Forecast (2020-2032)
10.1.2. Telecom & IT
10.1.2.1. Market Revenue and Forecast (2020-2032)
10.1.3. Media & Entertainment
10.1.3.1. Market Revenue and Forecast (2020-2032)
10.1.4. Tourism & Travel
10.1.4.1. Market Revenue and Forecast (2020-2032)
10.1.5. Retail & E-commerce
10.1.5.1. Market Revenue and Forecast (2020-2032)
10.1.6. Healthcare
10.1.6.1. Market Revenue and Forecast (2020-2032)
10.1.7. Manufacturing
10.1.7.1. Market Revenue and Forecast (2020-2032)
10.1.8. Others
10.1.8.1. Market Revenue and Forecast (2020-2032)
Chapter 11. Global Internet of Behaviors Market, Regional Estimates and Trend Forecast
11.1. North America
11.1.1. Market Revenue and Forecast, by Application (2020-2032)
11.1.2. Market Revenue and Forecast, by Enterprise Size (2020-2032)
11.1.3. Market Revenue and Forecast, by Industry (2020-2032)
11.1.4. U.S.
11.1.4.1. Market Revenue and Forecast, by Application (2020-2032)
11.1.4.2. Market Revenue and Forecast, by Enterprise Size (2020-2032)
11.1.4.3. Market Revenue and Forecast, by Industry (2020-2032)
11.1.5. Rest of North America
11.1.5.1. Market Revenue and Forecast, by Application (2020-2032)
11.1.5.2. Market Revenue and Forecast, by Enterprise Size (2020-2032)
11.1.5.3. Market Revenue and Forecast, by Industry (2020-2032)
11.2. Europe
11.2.1. Market Revenue and Forecast, by Application (2020-2032)
11.2.2. Market Revenue and Forecast, by Enterprise Size (2020-2032)
11.2.3. Market Revenue and Forecast, by Industry (2020-2032)
11.2.4. UK
11.2.4.1. Market Revenue and Forecast, by Application (2020-2032)
11.2.4.2. Market Revenue and Forecast, by Enterprise Size (2020-2032)
11.2.4.3. Market Revenue and Forecast, by Industry (2020-2032)
11.2.5. Germany
11.2.5.1. Market Revenue and Forecast, by Application (2020-2032)
11.2.5.2. Market Revenue and Forecast, by Enterprise Size (2020-2032)
11.2.5.3. Market Revenue and Forecast, by Industry (2020-2032)
11.2.6. France
11.2.6.1. Market Revenue and Forecast, by Application (2020-2032)
11.2.6.2. Market Revenue and Forecast, by Enterprise Size (2020-2032)
11.2.6.3. Market Revenue and Forecast, by Industry (2020-2032)
11.2.7. Rest of Europe
11.2.7.1. Market Revenue and Forecast, by Application (2020-2032)
11.2.7.2. Market Revenue and Forecast, by Enterprise Size (2020-2032)
11.2.7.3. Market Revenue and Forecast, by Industry (2020-2032)
11.3. APAC
11.3.1. Market Revenue and Forecast, by Application (2020-2032)
11.3.2. Market Revenue and Forecast, by Enterprise Size (2020-2032)
11.3.3. Market Revenue and Forecast, by Industry (2020-2032)
11.3.4. India
11.3.4.1. Market Revenue and Forecast, by Application (2020-2032)
11.3.4.2. Market Revenue and Forecast, by Enterprise Size (2020-2032)
11.3.4.3. Market Revenue and Forecast, by Industry (2020-2032)
11.3.5. China
11.3.5.1. Market Revenue and Forecast, by Application (2020-2032)
11.3.5.2. Market Revenue and Forecast, by Enterprise Size (2020-2032)
11.3.5.3. Market Revenue and Forecast, by Industry (2020-2032)
11.3.6. Japan
11.3.6.1. Market Revenue and Forecast, by Application (2020-2032)
11.3.6.2. Market Revenue and Forecast, by Enterprise Size (2020-2032)
11.3.6.3. Market Revenue and Forecast, by Industry (2020-2032)
11.3.7. Rest of APAC
11.3.7.1. Market Revenue and Forecast, by Application (2020-2032)
11.3.7.2. Market Revenue and Forecast, by Enterprise Size (2020-2032)
11.3.7.3. Market Revenue and Forecast, by Industry (2020-2032)
11.4. MEA
11.4.1. Market Revenue and Forecast, by Application (2020-2032)
11.4.2. Market Revenue and Forecast, by Enterprise Size (2020-2032)
11.4.3. Market Revenue and Forecast, by Industry (2020-2032)
11.4.4. GCC
11.4.4.1. Market Revenue and Forecast, by Application (2020-2032)
11.4.4.2. Market Revenue and Forecast, by Enterprise Size (2020-2032)
11.4.4.3. Market Revenue and Forecast, by Industry (2020-2032)
11.4.5. North Africa
11.4.5.1. Market Revenue and Forecast, by Application (2020-2032)
11.4.5.2. Market Revenue and Forecast, by Enterprise Size (2020-2032)
11.4.5.3. Market Revenue and Forecast, by Industry (2020-2032)
11.4.6. South Africa
11.4.6.1. Market Revenue and Forecast, by Application (2020-2032)
11.4.6.2. Market Revenue and Forecast, by Enterprise Size (2020-2032)
11.4.6.3. Market Revenue and Forecast, by Industry (2020-2032)
11.4.7. Rest of MEA
11.4.7.1. Market Revenue and Forecast, by Application (2020-2032)
11.4.7.2. Market Revenue and Forecast, by Enterprise Size (2020-2032)
11.4.7.3. Market Revenue and Forecast, by Industry (2020-2032)
11.5. Latin America
11.5.1. Market Revenue and Forecast, by Application (2020-2032)
11.5.2. Market Revenue and Forecast, by Enterprise Size (2020-2032)
11.5.3. Market Revenue and Forecast, by Industry (2020-2032)
11.5.4. Brazil
11.5.4.1. Market Revenue and Forecast, by Application (2020-2032)
11.5.4.2. Market Revenue and Forecast, by Enterprise Size (2020-2032)
11.5.4.3. Market Revenue and Forecast, by Industry (2020-2032)
11.5.5. Rest of LATAM
11.5.5.1. Market Revenue and Forecast, by Application (2020-2032)
11.5.5.2. Market Revenue and Forecast, by Enterprise Size (2020-2032)
11.5.5.3. Market Revenue and Forecast, by Industry (2020-2032)
Chapter 12. Company Profiles
12.1. Aware, Inc.
12.1.1. Company Overview
12.1.2. Product Offerings
12.1.3. Financial Performance
12.1.4. Recent Initiatives
12.2. Trifacta, Inc. (Alteryx, Inc.).
12.2.1. Company Overview
12.2.2. Product Offerings
12.2.3. Financial Performance
12.2.4. Recent Initiatives
12.3. Vertica Systems (OpenText Corporation).
12.3.1. Company Overview
12.3.2. Product Offerings
12.3.3. Financial Performance
12.3.4. Recent Initiatives
12.4. NICE Ltd.
12.4.1. Company Overview
12.4.2. Product Offerings
12.4.3. Financial Performance
12.4.4. Recent Initiatives
12.5. NuData Security Inc. (Mastercard Inc.)
12.5.1. Company Overview
12.5.2. Product Offerings
12.5.3. Financial Performance
12.5.4. Recent Initiatives
12.6. Riverbed Technology LLC
12.6.1. Company Overview
12.6.2. Product Offerings
12.6.3. Financial Performance
12.6.4. Recent Initiatives
12.7. Qubit Technology (Coveo Solutions Inc.)
12.7.1. Company Overview
12.7.2. Product Offerings
12.7.3. Financial Performance
12.7.4. Recent Initiatives
12.8. CognitiveScale Inc.
12.8.1. Company Overview
12.8.2. Product Offerings
12.8.3. Financial Performance
12.8.4. Recent Initiatives
12.9. Capillary Technologies
12.9.1. Company Overview
12.9.2. Product Offerings
12.9.3. Financial Performance
12.9.4. Recent Initiatives
12.10. Sweet Analytics Limited
12.10.1. Company Overview
12.10.2. Product Offerings
12.10.3. Financial Performance
12.10.4. Recent Initiatives
Chapter 13. Research Methodology
13.1. Primary Research
13.2. Secondary Research
13.3. Assumptions
Chapter 14. Appendix
14.1. About Us
14.2. Glossary of Terms
Cross-segment Market Size and Analysis for
Mentioned Segments
Additional Company Profiles (Upto 5 With No Cost)
Additional Countries (Apart From Mentioned Countries)
Country/Region-specific Report
Go To Market Strategy
Region Specific Market DynamicsRegion Level Market Share Import Export AnalysisProduction AnalysisOthers