Internet of Things Statistics

Imagine a world where when you wake up, you find your breakfast ready, your water warm for taking a shower, your car already in the driveway ready to take you to work. Sounds interesting, doesn’t it? But you may be wondering that all of it is just fiction. Let me tell you one thing: not for too long, peeps! Internet Of Things is a technology that is making this happen and is driving the human race to the imagined future. 

IoT statistics that we have collected for you will help you see how close we are to this predicted astonishing future.

On this page, you’ll find:

• IoT Spending Statistics
• IoT Implementation Statistics
• IoT User Review Statistics
• IoT Security Statistics
• IoT Future Prediction Statistics

Key Internet of Things Statistics

Here are the top stats from the article below:

• IoT spending surpassed $1 trillion worldwide in 2020. (IDC)

• The IoT marketplace will grow to over $3 trillion by 2026. (Business Insider)

• There were approximately between 20.4 billion and 31 billion IoT devices online by December 2020. (Gartner)

• 93% of IT enterprises adopted IoT in 2020. (Security Today)

• At the moment 17% of the total IoT projects are deployed in connected industries. (IoT Analytics)

• In a survey, 58% of the respondents confirmed increased collaboration thanks to IoT initiatives. (Harvard Business Review)

• The “total number of IoT connections” will likely reach 83 billion by 2024. (Juniper Research)

• 98% of all IoT device traffic is unencrypted which exposes personal and confidential data on the network. (Palo Alto Networks)

• Fewer than 42% of organizations can identify insecure IoT devices. (Ponemon Institute)

• The average amount of time that it takes for an IoT device to be attacked once connected to the Internet is just 5 minutes. (Threat Intelligence Report)

IoT Spending Statistics

Many people and enterprises are taking a genuine interest in this technology and are investing vast sums of money into this. As a result of this, the rate of technological advancements in the field is skyrocketing. Personal assistants like Alexa, Siri, and Google are in enormous demand, and rightly so as they can be used for various purposes that’ll make the user’s daily lives easy. Here are some of the top Internet  Of Things spending statistics we have for you:

• IoT spending surpassed $1 trillion worldwide in 2020. (IDC)

• In 2021 the spendings are expected to grow by another $100 million, with more than 55% of it spent on software and services. (IDC)

• Just three industries: discrete manufacturing, logistics and transportation, and utilities may have accounted for 50% of all IoT spending in 2020. (BCG)

• The IoT marketplace will grow to over $3 trillion by 2026. (Business Insider)

• The IoT market opportunity is expected to be worth $4 trillion by 2025. (Machina Research)

• Growth of $53.45 billion is expected by 2022 in the home IoT market. (Statista)

• By the end of 2021, the IoT Healthcare market is expected to reach a $136 billion. (Allied Market Research)

• It is expected that by 2025 smart cities will surpass $2 trillion market value – with artificial intelligence (AI) and IoT being the main driving forces. (Frost & Sullivan)

• The global market for partially automated cars will reach $36 billion by 2025. (Statista)

• Global IoT Medical Devices Market to top $62 billion by 2025. (Zion)

IoT Implementation Statistics

How do we judge if a new idea or technology is being accepted in the market and has a future? The answer is quite simple: by looking at its implementation in the present times. Let’s do the same for the Internet of Things. Here we have dug up and brought to you the top stats for IoT implementation. You’ll see how IoT is getting implemented for bringing it into the day-to-day life of the public.

• There were approximately between 20.4 billion and 31 billion IoT devices online by December 2020. (Gartner)

• 93% of IT enterprises adopted IoT in 2020. (Security Today)

• Currently, the US holds the biggest industrial IoT market size – 45%.

• Asia Pacific region is expected to hold the highest market share in the IoT Healthcare market. (Fortune Business)

• Building automation will grow by 42% in 2021. (IoT Now)

• 17% of the total internet of things projects are in connected industries. (IoT Analytics)

• In 2019 – 82% of industrial companies used or planned to use IoT devices. (Tech Pro)

• 127 new IoT devices are connecting to the Internet every second. (McKinsey Global Institute)

• More than 40% of IoT devices are used in industry or manufacturing. (Intel)

• Experts estimate the installation of 31 billion IoT devices in 2020. (Leftronic)

IoT User Review Statistics

User Reviews hold the position of maximum significance while doing any form of market, economic or technological research. Thus, we can’t move on any further in our stat hunt regarding IoT without having a look at how the users are responding to this technology. So, here are the top stats and figures of the same:

• In a study conducted with over 1600 enterprises worldwide, 54% claimed that cost-reduction was the driver motive in their IoT projects. (IoT Analytics)

• In a survey, 58% of the respondents confirmed increased collaboration thanks to IoT initiatives. (Harvard Business Review)

• In a survey conducted, open source was a part of 60% of IoT deployments. (Eclipse Foundation)

• One-in-three decision-makers plan to up their IoT investments while 41% say their existing investments will remain the same after the COVID-19 pandemic. (Microsoft)

• 58% of financial executives report having well-developed IoT initiatives. (Forbes)

• 72% View IoT as Having the Biggest Organizational Impact. (Deloitte)

• 63% of enterprises expect to achieve financial payback within three years of their Internet of Things projects. (Gartner)

• 93% of executives view IoT as more beneficial than risky. (PwC)

• Companies expect IoT to improve efficiency by 12 percent. (PwC)

• 95% of construction business operators believe IoT will fundamentally change their industry. (KPMG)

IoT Security Statistics

One prominent concern that arises with the increasing use of IoT is security threats. As the IoT devices work on an internet connection, they are prone to cyber-attacks, resulting in a data breach or security compromises. In the past, we have heard about various instances of IoT devices getting hacked and hackers demanding bitcoins to let go of the control. Here are the top IoT security statistics that will help you see where we stand regarding the protection of our devices:

• Fewer than 42% of organizations can identify insecure IoT devices. (Ponemon Institute)

• The average amount of time that it takes for an IoT device to be attacked once connected to the Internet is just 5 minutes. (Threat Intelligence Report)

• Nearly 90% of risk pros think IoT leaves them at risk of cyberattacks. (Ponemon Institute)

•  IoT malware attacks skyrocketed in 2018, the trend continued through the 1st quarter of 2020. (SonicWall)

• 83% of medical imaging devices are running on unsupported operating systems which pose a big IoT compromise threat. (Palo Alto Networks)

• 98% of all IoT device traffic is unencrypted which exposes personal and confidential data on the network. (Palo Alto Networks)

• 92% of global consumers want to control the types of personal information that organizations automatically collect about them. (EIU)

• 63% of consumers find connected devices “Creepy” concerning data collection. (CISS)

• 55% of companies don’t require third-party IoT provider security & privacy compliance. (Ponemon Institute)

• 74% of Global Consumers Worry About Losing Their Civil Rights because of IoT data breach threats. (EIU)

IoT Future Prediction Statistics

What the future holds for this super-exciting piece of technology is for sure a question that many are looking answers for to. The Internet Of Things is a relatively new field and thus, it is far from perfect and we can expect many groundbreaking revolutions in this field in the coming years. Here are some of the top future prediction stats that we have scrounged for you. Have a look and get excited, for the future of this technology seems bright!

• The total number of IoT connections is expected to reach 83 billion by 2024. (Juniper Research)

• 45% of Cellular IoT Connections Will Be NB-IoT and CAT-M by 2026. (Ericsson)

• There can be an additional $14.2 trillion added to the global economy by the Industrial Internet of Things (IIoT) by 2030. (Accenture)

• The Real-Time Location System market (RTLS) is expected to grow from USD 3.19 billion in 2018 to reach USD 8.79 billion by 2023. (M&M)

• By 2021 the IoT network will generate 847 zettabytes of data. (Cisco)

• It is predicted that IoT devices would be generating 79.4 zettabytes of data by the year 2025. (IDC)

• By 2030, there will be 15 connected devices per person. (MTA)

• By 2025, the IoT trends suggest the number will rise to 75 billion devices. (Statista)

• By 2023, nearly 70% of all new vehicles worldwide will be connected to the internet. (IDC)

• 152,200 IoT devices will connect every minute by 2025. (IDC)

Conclusion

IoT is a revolutionizing piece of technology that is changing the lives of people around the world. It is one of those things which makes us stop and look back at how far we have come from the invention of the wheel and the discovery of fire. It makes us believe that great feats will be achieved by the human race in the 21st century.

We sincerely hope that the stats above increased your inquisition regarding exploring this field and you got to take a look at this technology from a more dynamic perspective.