New York, United States, Nov. 01, 2023 (GLOBE NEWSWIRE) -- The Global Internet of Behaviors Market Size is to grow from USD 362.35 Billion in 2022 to USD 2,990.87 Billion by 2032, at a Compound Annual Growth Rate (CAGR) of 23.5% during the forecast period.
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The internet of behaviors (IoB) is a concept that focuses on analyzing data from various sources to understand and influence human behavior. By combining technologies like AI, big data analytics, and IoT, IoB collects information from digital touchpoints such as social media, wearables, and surveillance systems. This data is used to gain insights into individual behaviors, preferences, and decision-making patterns. Organizations and governments can then utilize these insights to personalize experiences, improve public services, enhance marketing strategies, and optimize operations. However, IoB also raises concerns about privacy, data security, and ethical implications. As IoB continues to evolve, it has the potential to significantly impact and shape societies in both positive and negative ways.
Browse key industry insights spread across 200 pages with 140 market data tables and figures & charts from the report on the "Global Internet of Behaviors Market Size, Share, and COVID-19 Impact Analysis, By Application (Advertising Campaign, Digital Marketing, Content Delivery, Brand Promotion, and Others), By Enterprise Size (Small & Medium Enterprises and Large Enterprises), By End-Use Industry (BFSI, Telecom & IT, Media & Entertainment, Tourism & Travel, Retail & E-commerce, Healthcare, Manufacturing, and Others), By Region (North America, Europe, Asia-Pacific, Latin America, Middle East, and Africa), Analysis and Forecast 2023 – 2032)."
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The brand promotion segment is expected to grow at a CAGR of around 23.6% during the forecast period
Based on the application, the global internet of behaviors market is segmented into advertising campaign, digital marketing, content delivery, brand promotion, and others. The brand promotion segment is poised for significant growth during the forecast period in the context of the Internet of Behaviors (IoB). This growth can be attributed to many reasons such as IoB technologies offer valuable insights into consumer behavior, preferences, and engagement patterns, enabling businesses to develop targeted and personalized brand promotion strategies. By leveraging data analytics and artificial intelligence, companies can optimize their promotional activities, deliver relevant content, and create engaging experiences for their target audience. Additionally, the rise of digital platforms and social media channels provides ample opportunities for brand promotion through targeted advertising, influencer marketing, and interactive campaigns.
The small & medium enterprises held the largest market share with more than 64.5% in 2022.
Based on the enterprise size, the global internet of behaviors market is segmented into small & medium enterprises and large enterprises. The small and medium enterprises (SMEs) segment has emerged as the leader, accounting for the largest market share in the Internet of Behaviors (IoB) landscape. This can be attributed to the increasing adoption of IoB solutions by SMEs seeking to enhance customer engagement, optimize marketing strategies, and improve operational efficiency. IoB technologies provide SMEs with affordable and scalable solutions to leverage behavioral data for personalized customer experiences and targeted campaigns. Additionally, the flexibility and agility offered by IoB solutions make them well-suited for SMEs' dynamic business requirements. The growing recognition of the value of data-driven insights has propelled the SME segment to hold a significant market share in the IoB space.
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Asia-Pacific is predicted to grow at fastest CAGR of around 24.1% over the projected period
Based on region, Asia Pacific is projected to experience the fastest expansion during the forecast period in the internet of behaviors (IoB) market. Several factors contribute to this growth, such as the region has a large population, high mobile penetration, and increasing internet connectivity, resulting in a vast amount of behavioral data being generated. Additionally, countries like China, India, and Japan have robust technology ecosystems and a growing digital infrastructure, fostering innovation and adoption of IoB solutions. Moreover, the rising middle class and changing consumer preferences in the region are driving demand for personalized experiences and targeted marketing. Furthermore, governments in Asia Pacific are implementing digital transformation initiatives and smart city projects, creating opportunities for IoB adoption. Overall, these factors position Asia Pacific as a key growth region for the IoB market.
Competitive Analysis:
The report offers the appropriate analysis of the key organizations/companies involved within the global market along with a comparative evaluation primarily based on their product offering, business overviews, geographic presence, enterprise strategies, segment market share, and SWOT analysis. The report also provides an elaborative analysis focusing on the current news and developments of the companies, which includes product development, innovations, joint ventures, partnerships, mergers & acquisitions, strategic alliances, and others. This allows for the evaluation of the overall competition within the market. Some of the major players in the global Internet of behaviors market include Aware, Inc., Trifacta, Inc., Vertica Systems, NICE Ltd., NuData Security Inc., Riverbed Technology LLC, Qubit Technology, CognitiveScale Inc., Capillary Technologies, and Sweet Analytics Limited and Others.
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Recent Market Developments
In January 2023, NICE Ltd. and Cognizant have created a strategic alliance to improve customer experience transformation by combining data analytics, artificial intelligence, and other technologies. The cooperation seeks to provide effective solutions that improve client interactions while also driving corporate growth. NICE Ltd. and Cognizant want to utilise their respective skills to offer new and meaningful customer experiences for organisations across many sectors through this collaboration.
Market Segment
This study forecasts revenue at global, regional, and country levels from 2019 to 2032. Spherical Insights has segmented the Global Internet of Behaviors Market based on the below-mentioned segments:
Internet of Behaviors Market, By Application
- Advertising Campaign
- Digital Marketing
- Content Delivery
- Brand Promotion
- Others
Internet of Behaviors Market, By Enterprise Size
- Small & Medium Enterprises
- Large Enterprises
Internet of Behaviors Market, By End-Use Industry
- BFSI
- Telecom & IT
- Media & Entertainment
- Tourism & Travel
- Retail & E-commerce
- Healthcare
- Manufacturing
- Others
Internet of Behaviors Market, Regional Analysis
- North America
- US
- Canada
- Mexico
- Europe
- Germany
- UK
- France
- Italy
- Spain
- Russia
- Rest of Europe
- Asia Pacific
- China
- Japan
- India
- South Korea
- Australia
- Rest of Asia Pacific
- South America
- Brazil
- Argentina
- Rest of South America
- Middle East & Africa
- UAE
- Saudi Arabia
- Qatar
- South Africa
- Rest of Middle East & Africa
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