Internet of Behavior Market

The global market for internet of behavior is expected to increase from $300.1 billion in 2023 to $869.3 billion by the end of 2028, with a compound annual growth rate (CAGR) of 23.7% during the forecast period of 2023-2028.

The Internet of Behavior (IoB) is a fascinating and evolving field that brings together technology, data analytics and behavioral science to understand and influence human behavior. As it continues to develop, it holds the potential to transform various aspects of people’s lives, from marketing to healthcare and beyond. It also underscores the importance of ethical considerations and responsible data practices to ensure that the benefits of IoB are realized without compromising individual privacy and rights. Moving forward in this data-driven world, finding the right balance between innovation and ethics will be paramount.

The global IoB market is a rapidly growing sector that leverages data analytics, IoT devices and behavioral insights to understand and influence human behavior. It encompasses applications in marketing, healthcare, education and smart cities. As the IoB market continues to evolve, it holds significant potential for transforming various industries by harnessing the power of data-driven behavioral insights. The global IoB market was valued at $256.7 billion in 2022, and it is expected to reach $869.3 billion by 2028, with a CAGR of 23.7% during the forecast period (i.e., 2023 to 2028). This growth is due to such factors as the rising number of internet of things (IoT) devices, companies utilizing data to develop user behavior models for analytical purposes and increasing use of IoB solutions by e-commerce companies to generate accurate user behavior models.

This report segments the global IoB market based on application, enterprise size, end-user industry and region. Based on application, the market is segmented into advertising campaign, digital marketing, content delivery, brand promotion and other. In 2022, the digital marketing segment had the highest share of 36.1%, and it is expected to register the highest CAGR at 25.1% during the forecast period. Digital marketing services will benefit the most from IoB technology due to the rising number of global internet connections. The IoB trend is becoming important in the current commercial, government and nonprofit sectors, as it focuses on gathering, analyzing and comprehending user behavior to enhance service quality and the value chain.

The market for the Internet of Behavior by end-user industry is segmented into BFSI, healthcare, telecom and IT, media and entertainment, tourism and travel, retail and e-commerce, and others. The media and entertainment segment is expected to grow at a CAGR of 24.8% during the forecast period. IoB is used by media and entertainment organizations to review and track their material and develop customized content and recommendations. This allows them to better reach their target audiences, boost audience satisfaction and extend the audience pool.

The Report Includes

• 31 data tables and 21 additional tables
• An overview of the global market for the Internet of Behaviors (IoB)
• Estimates of the market size and analyses of market trends, with data from 2022 and 2023, estimates for 2024, and projections of compound annual growth rates (CAGRs) through 2028
• Assessments of factors driving the industry, current trends, market opportunities and restraints, and technological advances that will shape the future marketplace
• Discussions of the current and future market potential and breakdowns of the market by application, enterprise size, end-user industry and region
• Evaluations of technologies such as AI, machine learning, IoT and AR, and discussions on how they drive the market, and the possible practical applications of the IoB
• Analysis of ESG developments
• Discussions of patents, mergers and acquisitions (M&A) and venture funding
• Company profiles of major players within the industry, including CognitiveScale, Riverbed Technology LLC, NICE Ltd., Mastercard Inc., and Sweet Analytics Ltd.

Report Scope

This report segments the IoB market based on application, end-user industry, enterprise size and geography. The report provides an overview of the global IoB market and analyzes market trends. Using 2022 as the base year, the report provides estimated market data for the forecast period 2023 through 2028.

Revenue forecasts for this period are segmented into:

• Application: Advertising campaign, digital marketing, content delivery and brand promotion.
• End-user industry: BFSI, healthcare, telecom and IT, media and entertainment, tourism and travel, and retail and e-commerce.
• Enterprise size: Small and medium enterprises (SMEs) and large enterprises.
• Region: North America is segmented into the U.S., Canada and Mexico; Europe is segmented into the U.K., France, Germany and Rest of Europe; Asia-Pacific (APAC) is segmented into China, Japan, India and Rest of Asia-Pacific; Rest of World is segmented into Middle East, Africa and South America.

This report has been prepared in a simple, easy-to-understand format, with several tables and charts/figures. The report’s scope includes a detailed study of global and regional markets for the IoB, with reasons given for variations in the industry’s growth in certain regions. The report examines each IoB technology component, determines its current market size and estimates its future market. The report also analyzes the market from the manufacturers’ viewpoint and the final consumer’s. Several technical issues arising from the utilization of IoB technologies are discussed and solutions are indicated.