Global Internet of Behavior Market 2024-2031

Description

List of Tables

Internet of Behavior Market Size, Share & Trends Analysis Report by Organization Size (Large Enterprises and Small and Medium Enterprises), by Application (Advertising Campaign, Digital Marketing, Content Delivery and Brand Promotion), and by Industry (BFSI, Media and Entertainment, Tourism & Travel, IT & Telecom, Retail & E-Commerce, Healthcare, Manufacturing and Others) Forecast Period (2024-2031)

Internet of behavior market is anticipated to grow at a significant CAGR of 23.2% during the forecast period (2024-2031). The internet of behaviors, or IoB, is an idea that centers on gathering and analyzing data from several sources in order to comprehend and impact human behavior. The technology integrates big data analytics, artificial intelligence, and the internet of things (IoT) to collect data from various digital touchpoints such as wearables, social media, and security systems.

Market Dynamics

Growing demand for analytical tools in different industries

Analytics technologies are being used by a number of digital advertising companies to learn more about their regular consumer behavior. The IoB can be used by marketers to track customer buying patterns across platforms, obtain data that was previously inaccessible, reorganize the value chain, and even provide truthful point-of-sale alerts and personalized advertising. IoB has become popular in the large part of COVID-19 pandemic, which has changed the way consumers interact with brands and made companies reevaluate their customer outreach strategies. The IoB concept aims to precisely analyze data from the perspective of human psychology and use that understanding to create and market new products.

IoB to help in understanding market demand

The IoB concept aims to precisely analyze data from the perspective of human psychology and use that understanding to create and market new products. The IoB makes an effort to apply behavioral psychology to data collected from users' internet activities. It aims to provide answers to queries concerning the use of human psychology in data analysis and the creation and promotion of new goods. Occasional effects of this new strategy on quality infrastructure include the possibility of increased connectivity among various businesses.

Market Segmentation

Our in-depth analysis of the global internet of behavior market includes the following segments by organization size, application, and industry:

Based on organization size, the market is sub-segmented into large enterprises and small and medium enterprises.
Based on application, the market is sub-segmented into advertising campaign, digital marketing, content delivery and brand promotion.
Based on industry, the market is sub-segmented into bfsi, media and entertainment, tourism & travel, IT & telecom, retail & e-commerce, healthcare, manufacturing and others.

Organization Size is Projected to Emerge as the Largest Segment

The small and medium-sized business (SMEs) sector held the major market share. The growth can be attributed to these businesses' increasing IoT device usage as a result of digitalization and smart manufacturing. As SMEs frequently embark on plans for growth and development, it is anticipated that they would employ IoB to create effective implementation methods.

Large enterprises attributed to the significant amounts of data produced by major businesses, which need to be analyzed in order to make project decisions. As large firms have many data input modes, including user laptop devices, mobile phones, voice assistant data, and more, it is anticipated that the use of IoB will increase in these organizations. Furthermore, it is projected that the trend of real-time data notifications based on user behavior to provide live features would propel the use of IoB in major corporations.

BFSI Sub-segment to Hold a Considerable Market Share

In terms of market share within the IoB space, the leading category is BFSI (Banking, Financial Services, and Insurance). This is explained by a number of industry-specific variables, including the BFSI sector's heavy reliance on client data for risk management, tailored financial services, and decision-making. Businesses in this industry can collect and analyze enormous volumes of behavioral data from various sources, including transaction histories, online interactions, and social media emotions. These insights help BFSI organizations identify fraudulent activity, improve client experiences, and customize product offers. Furthermore, the amalgamation of artificial intelligence-powered chatbots and virtual assistants amplifies client engagement and facilitates prompt resolution of inquiries.

Regional Outlook

The global internet of behavior market is further segmented based on geography including North America (the US, and Canada), Europe (UK, Italy, Spain, Germany, France, and the Rest of Europe), Asia-Pacific (India, China, Japan, South Korea, and Rest of Asia-Pacific), and the Rest of the World (the Middle East & Africa, and Latin America).

Global Internet of Behavior Market Growth by Region 2024-2031

Source: OMR Analysis

North America Holds Major Market Share

North America has a significant part in IT and telecom enterprises and it is projected that the rapid uptake of contemporary technology and the tendency of technological advancement will fuel demand for IoB. Similar to this, corporations can gather driver data including speed, engine stress, distance traveled, and more, which is predicted to drive demand in North America's expanding vehicle sector. It is anticipated that automakers would use this behavioral data to design cars that cater to consumer desires.

North America is technologically advanced is a result of various variables, such as a high rate of connected device adoption, ubiquitous internet coverage, and widespread use of digital platforms. This makes it possible to gather enormous volumes of behavioral data from numerous sources. Furthermore, the IoT, big data analytics, and artificial intelligence (AI) industries in North America are driven by a developed ecosystem of industry leaders, research institutes, and technology vendors. There is also a considerable need for IoB solutions in the region due to the strong culture of consumer data-driven marketing and personalization.

Market Players Outlook

Note: Major Players Sorted in No Particular Order.

The major companies serving the global internet of behavior market include Aware Inc., Mastercard International Inc., OpenText Corp, Alteryx Inc., NICE Ltd. and Koch Industries Inc., among others. The market players are increasingly focusing on business expansion and product development by applying strategies such as collaborations, mergers, and acquisitions to stay competitive in the market.

The Report Covers:

Market value data analysis of 2023 and forecast to 2031.
Annualized market revenues ($ million) for each market segment.
Country-wise analysis of major geographical regions.
Key companies operating in the global internet of behavior market. Based on the availability of data, information related to new product launches, and relevant news is also available in the report.
Analysis of business strategies by identifying the key market segments positioned for strong growth in the future.
Analysis of market-entry and market expansion strategies.
Competitive strategies by identifying 'who-stands-where' in the market.

Product Code: OMR2028375

1.Report Summary

Current Industry Analysis and Growth Potential Outlook
1.1.Research Methods and Tools
1.2.Market Breakdown
- 1.2.1.By Segments
- 1.2.2.By Region

2.Market Overview and Insights

2.1.Scope of the Report
2.2.Analyst Insight & Current Market Trends
- 2.2.1.Key Findings
- 2.2.2.Recommendations
- 2.2.3.Conclusion

3.Competitive Landscape

3.1.Key Company Analysis
3.2.Aware Inc.
- 3.2.1.Overview
- 3.2.2.Financial Analysis
- 3.2.3.SWOT Analysis
- 3.2.4.Recent Developments
3.3.Mastercard International Inc.
- 3.3.1.Overview
- 3.3.2.Financial Analysis
- 3.3.3.SWOT Analysis
- 3.3.4.Recent Developments
3.4.OpenText Corp
- 3.4.1.Overview
- 3.4.2.Financial Analysis
- 3.4.3.SWOT Analysis
- 3.4.4.Recent Developments
3.5.Key Strategy Analysis

4.Market Segmentation

4.1.Global Internet of Behavior Market by Organization Size
- 4.1.1.Large Enterprises
- 4.1.2.Small and Medium Enterprises
4.2.Global Internet of Behavior Market by Application
- 4.2.1.Advertising Campaign
- 4.2.2.Digital Marketing
- 4.2.3.Content Delivery
- 4.2.4.Brand Promotion
4.3.Global Internet of Behavior Market by Industry
- 4.3.1.BFSI
- 4.3.2.Media and Entertainment
- 4.3.3.Tourism & Travel
- 4.3.4.IT & Telecom
- 4.3.5.Retail & E-Commerce
- 4.3.6.Healthcare
- 4.3.7.Manufacturing
- 4.3.8.Others

5.Regional Analysis

5.1.North America
- 5.1.1.United States
- 5.1.2.Canada
5.2.Europe
- 5.2.1.UK
- 5.2.2.Germany
- 5.2.3.Italy
- 5.2.4.Spain
- 5.2.5.France
- 5.2.6.Rest of Europe
5.3.Asia-Pacific
- 5.3.1.China
- 5.3.2.India
- 5.3.3.Japan
- 5.3.4.South Korea
- 5.3.5.Rest of Asia-Pacific
5.4.Rest of the World
- 5.4.1.Latin America
- 5.4.2.The Middle East & Africa

6.Company Profiles

6.1.Abengoa, S.A.
6.2.Alteryx Inc.
6.3.NICE Ltd.
6.4.Riverbed Technology LLC
6.5.Koch Industries Inc.
6.6.Coveo Solutions Inc.
6.7.Cognitive Scale Inc.
6.8.Capillary Technologies
6.9.Sweet Analytics Ltd.
6.10.Mazu Networks Inc.
6.11.Traceable