Internet of Behavior (IoB) Market Size, Share, and Industry Analysis, By Application (Advertising Campaign, Digital Marketing, Brand Promotion, Content Delivery, and Others), By Enterprise Type (Small & Medium Enterprises (SMEs) and Large Enterprises), By Industry (BFSI, IT & Telecom, Healthcare, Retail & E-commerce, Tourism & Travel, Media & Entertainment, Manufacturing, and Others), and Regional Forecast, 2024-2032

IoB combines three fields: technology, data analytics, and behavioral science. It is an expanded technology from the Internet of Things (IoT) that combines data from different platforms such as social media, IoT sensors, and online stores. Various companies use this aggregated data to influence consumer behavior, which significantly helps to generate new products and craft more effective marketing campaigns.

Internet of Behavior (IoB) platforms can gather, compile, and examine information from different sources to determine which marketing and sales departments can leverage to shape consumer actions. This information can originate from electronic gadgets at home, wearable technology, online engagements, and various human activities.

The IoB system integrates machine learning (ML), artificial intelligence (AI), cloud technology, data analysis, wearable tech, Internet of Things (IoT) gadgets, smartphone apps, virtual reality (VR), augmented reality (AR), automated robotics systems, and various elements into a unified framework for collecting information about human behavior from either single individuals or from entire groups of people. Rising adoption of Internet of Things (IoT) devices among smart cities to fulfil the rising need for public services to improve operational efficiency and boost the market's growth during the forecast period.  

Impact of AI on the Internet of Behavior (IoB) Market

Adopting data analytics and artificial intelligence (AI) has transformed the Internet of Behavior (IoB) sector. As the amount and complexity of data grow, sophisticated data analytics tools and AI algorithms are essential for extracting valuable insights. Data analytics enables organizations to swiftly process large datasets, identifying patterns and trends in behavior. AI enhances predictive modeling and supports real-time decision-making based on user behavior. These advancements empower companies to deliver personalized experiences, targeted marketing, and improved services, underscoring the importance of data analytics and AI in leveraging the potential of the IoB market to transform consumer engagement and business strategies.

Artificial intelligence technologies lay the foundation of IoB, facilitating detailed data analysis and forecasting. Machine learning sets the stage, enabling systems to absorb and evolve from extensive behavioral datasets. Deep learning explores further with neural networks that mimic human brain functions to uncover complex patterns. Moreover, natural language processing decodes text data, while computer vision analyzes visual information. These factors led to drive the growth of the market over the forecast period.

Segmentation

Key Insights

The report covers the following key insights:

• Micro Macro Economic Indicators


• Drivers, Restraints, Trends, and Opportunities


• Business Strategies Adopted by the Key Players


• Impact of Generative AI on the Global Internet of Behavior (IoB) Market


• Consolidated SWOT Analysis of Key Players

Analysis by Application

By application, the market is segregated into advertising campaign, digital marketing, brand promotion, content delivery, and others.

The increasing adoption of IoT devices in the retail and e-commerce sector due to the rising usage of social media platforms and multiple online channels for digital marketing will boost the market's growth over the forecast period. Furthermore, the increasing integration of virtual assistants and AI-enabled chatbots aims to enhance customer interactions and provide a better user experience to customers across the globe. Businesses equipped with IoB technology examined shifts in consumer behavior over this time and applied this information in their brand enhancement, ads, digital marketing efforts, and beyond.

The rise in IoB's application in developing effective marketing strategies could be attributed to its expanding popularity. These factors drove the growth of digital marketing applications over the forecast period.

Regional Analysis

The global Internet of Behavior (IOB) market is distributed into five regions: North America, Europe, Asia Pacific, the Middle East & Africa, and South America. The rapid adoption of technology and the extensive use of advanced technologies, such as AI, ML, and big data, are fuelling North America's need for IoB devices. This factor will drive the market growth in the region during the forecast period. The early embrace of new technologies and a robust digital framework has accelerated the expansion of IoB solutions. Furthermore, many Internet of Behavior (IoB) device providers propel market growth across the region.

Furthermore, the growing demand for IoB platforms across different industrial sectors, such as manufacturing, retail and e-commerce, healthcare, and smart cities, helps to enhance industrial operational speed. This factor aims to drive the market's growth in the region over the forecast period.

The distribution of the global Internet of Behavior (IoB) market by region of origin is as follows:

• North America – 43%


• South America – 7%


• Europe – 25%


• Middle East & Africa – 8%


• Asia Pacific – 17%

Key Players Covered

The key players in this market include 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.), and CognitiveScale Inc.

Key Industry Developments

• June 2023: Aware, Inc. unveiled Aware IQ, an AI-driven data platform designed for comprehending human interactions throughout an organization. Aware IQ incorporates computer vision (CV) and natural language processing (NLP) models for identifying behaviors. Additionally, the platform employs various methods to examine conversations.


• January 2022: Alteryx, Inc. acquired Trifacta, a data analytics solutions provider. This acquisition integrates Trifacta's cloud-based data analytics solutions into Alteryx's product portfolio, enhancing Alteryx's ability to offer superior data analytics services to clients worldwide.