According to a new report, published by KBV research, The Global Internet of Behaviors Market size is expected to reach $1,818 billion by 2030, rising at a market growth of 22.9% CAGR during the forecast period.
The Small & Medium Enterprises (SMEs) segment acquired the highest revenue share in the Global Internet of Behaviors Market by Enterprise Size in 2022, thereby achieving a market value of $1,212.6 billion by 2030. The substantial number of SMEs worldwide is what has led to this domination. For instance, the World Bank reported in June 2022 that 90% of enterprises worldwide are SMEs. The segment's expansion can also be attributed to the surge in IoT device adoption in these businesses as a result of smart manufacturing as well as digitization. It is also anticipated that SMEs will use IoB to create effective implementation strategies for their ongoing expansion and development objectives.
The Media & Entertainment segment is showcasing a CAGR of 24.4% during (2023 - 2030). In order to understand the audience and meet their demands, this industry uses the Internet of Behaviors. For instance, IoB can evaluate data from virtual reality headsets, allowing businesses to enhance the gaming experience for users. The Internet of Behaviors helps the media sector by providing recommendations and targeted advertising relevant to the user's interests, like suggesting a movie.
The Advertising Campaign segment is generating the maximum revenue share in the Global Internet of Behaviors Market by Application in 2022, thereby achieving a market value of $585.7 billion by 2030. By merging behavioral data with additional demographic and psychographic data, IoB enables advertisers to create more thorough client profiles. Advertisers can more successfully target their messaging and creative material to engage with the target audience by having a greater grasp of customers' preferences, requirements, and motivations. These benefits of IoB for advertising campaigns are aiding in the segment’s expansion.
The North America market dominated the Global Internet of Behaviors Market by Region in 2022, and would continue to be a dominant market till 2030; thereby, achieving a market value of $649.8 billion by 2030. The Europe market is expected to witness a CAGR of 22.4% during (2023 - 2030). Additionally, The Asia Pacific market is expected to witness a CAGR of 23.5% during (2023 - 2030).
Full Report: https://www.kbvresearch.com/internet-of-behaviors-market/
The market research report has exhaustive quantitative insights providing a clear picture of the market potential in various segments across the globe with country wise analysis in each discussed region. The key impacting factors of the market have been discussed in the report with the elaborated company profiles of Aware, Inc., Alteryx, Inc., Vertica Systems (OpenText Corporation), NICE Ltd., NuData Security Inc. (Mastercard, Inc.), Riverbed Technology, Inc. (Thoma Bravo), Coveo Solutions Inc, Cognitive Scale Inc. (Tecnotree Corporation), Capillary Technologies India Limited, and Sweet Analytics Limited.
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