As per Inkwood Reseaarch, the Global Internet of Behavior (IoB) Market is projected to grow at a CAGR of 23.52% in terms of revenue over the forecasting period of 2024-2032.
The Internet of Behavior (IoB) refers to the collection and
analysis of data from people’s behaviors through connected devices and sensors.
By integrating data from multiple sources, IoB provides insights into user
habits and preferences, enabling businesses and organizations to tailor their
products, services, and interactions more effectively.
Advanced Data Analytics Integrated with IoT Aids IoB
Market Growth
The integration of advanced data analytics with the Internet
of Things (IoT) is significantly driving the growth of the global Internet of
Behavior (IoB) market. By leveraging IoT devices, vast amounts of behavioral
data are collected from users in real-time. Advanced analytics processes this
data, extracting valuable insights into consumer habits, preferences, and
decision-making patterns. These insights allow businesses to create highly
personalized and targeted strategies, improving customer engagement and
satisfaction. As a result, the IoB market is expanding rapidly, driven by the
enhanced ability to analyze and respond to consumer behavior through the
powerful combination of IoT connectivity and data analytics.
BFSI was the Largest End-User Industry in 2023
In the BFSI sector, IoB plays a crucial role in generating
statements, automating notifications, and maintaining an omnichannel presence.
Banks leverage location-based advertising to boost consumer engagement, which
fuels IoB adoption. The demand for sensitive user data, personalized
advertising, and the growth of mobile banking are key drivers of IoB. In
finance, IoB assists in fraud detection, risk management, and customer
protection while also enhancing targeted marketing and reducing cyber threats.
Asia-Pacific is Expected to be the Leading Region during
the Forecast Period
Asia-Pacific leads in digital transformation, with countries
like China, Japan, and South Korea rapidly adopting 5G, IoT, and AI, generating
vast behavioral data that fuels IoB and enables personalized services. However,
evolving data protection laws, such as China’s PIPL and India’s Data Protection
Bill, present challenges. Additionally, uneven technological infrastructure
across the region hampers consistent IoB adoption, particularly between urban
and rural areas.
The global Internet of Behavior (IoB) market is marked by
intense industry rivalry, driven by the rapid adoption of advanced data
analytics and behavioral insights across sectors. Key players compete fiercely
to offer innovative solutions, leveraging AI and machine learning to gain a
competitive edge. Some of the leading companies operating in the market are
Alteryx Inc, Amazoncom Inc, AssetFloow, Aware Inc, Capillary Technologies, etc.
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technology, automotive, chemicals, materials, healthcare, and energy, with an
objective comprehension that acknowledges the business environments. Our
geographical analysis comprises North & South America, CEE, CIS, the Middle
East, Europe, Asia, and Africa.
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