Internet of Behaviors Market Size

Internet of Behaviors (IoB) Market size was over USD 451.97 billion in 2023 and is poised to exceed USD 6.88 trillion by 2036, witnessing over 23.3% CAGR during the forecast period i.e., between 2024-2036. In the year 2024, the industry size of internet of behaviors is estimated at USD 536.22 billion. The growth of the market can be attributed to the rapidly growing adoption of internet of things (IoT) devices, and increasing developments in machine learning abilities across the globe. In 2021, there were about 9 billion active IoT devices in the world, which is evaluated to grow up to more than 20 billion by the end of 2030. Along with these, behavioral data helps enterprises make more informed decisions and enhance their service quality and value chain in an optimized way. This is also expected to drive market growth significantly in the forthcoming years. Furthermore, rising usage of technologies, such as location tracking, facial recognition and big data, in combination with behavioral events is projected to offer profitable opportunities to the market in the near future.