GITNUX MARKETDATA REPORT 2024

Internet Of Things Industry Statistics [Fresh Research]

Highlights: The Most Important Internet Of Things Industry Statistics

  • The global Internet of Things (IoT) market is projected to reach $1.39 trillion by 2026.
  • By 2025, it’s estimated that there will be more than 21 billion IoT devices.
  • IoT spending worldwide is projected to reach up to $1.1 trillion by 2023.
  • 90% of automobiles are expected to be IoT enabled by 2020.
  • Over 25% of attacks will involve IoT by 2025.
  • The number of businesses adopting IoT technologies reached 85% in 2019.
  • China, North America, and Western Europe are expected to account for 67% of the world’s IoT installed base by 2020.
  • The healthcare sector will invest $410 billion in IoT devices by 2022.
  • The manufacturing industry is expected to spend $189 billion on IoT in 2020.
  • 74% of people who have a smartphone are connected to IoT services.
  • IoT technologies enable companies to reduce maintenance costs by 30%, reduce downtime by 45%, and save 12% over total maintenance costs.
  • By 2020, more than half of major new business processes and systems incorporated some element of IoT.
  • The IoT analytics market size is projected to grow from $19.8 billion in 2020 to $51.5 billion by 2025.
  • 68% of businesses believe IoT is essential for staying current in the tech industry.
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In today’s rapidly evolving digital world, the Internet of Things (IoT) stands at the forefront of technological revolution. Thundering through various sectors, from healthcare to transportation, this groundbreaking technology is swiftly transforming the way we live and interact with our environment. But what’s the real scope of IoT’s impact? What are its projections for the future? To help you grasp the scale of this tech-giant, we delve deep into the world of IoT industry statistics. Peppered with exhilarating facts, trend analyses, and growth predictions, this blog post aims to provide you with a comprehensive picture of IoT’s present landscape and its exciting trajectory into the future.

The Latest Internet Of Things Industry Statistics Unveiled

The global Internet of Things (IoT) market is projected to reach $1.39 trillion by 2026.

Envision the global Internet of Things (IoT) industry akin to a powerful, fast-growing tree, now projected to attain a massive stature with a canopy valued at $1.39 trillion by 2026. This meteoric growth, as forecasted, underscores its awe-inspiring potential and the pivotal role it plays in weaving an interconnected digital world. Delving into this statistic leads us deep into a fertile ecosystem, offering critical insights into market dynamics, whilst shedding light on the influential role of IoT on a global scale. It speaks volumes about innovative technological breakthroughs, increased adoption rates, and indeed, the transformational future that awaits us.

By 2025, it’s estimated that there will be more than 21 billion IoT devices.

Forecasting a staggering increase to over 21 billion IoT devices by 2025 underscores the prolific growth and expansion expected in the Internet of Things (IoT) industry. It paints a picture of a future where the world would be more interconnected than ever, thriving on a network of gadgets and systems that communicate seamlessly. From this vantage point, we can see the enormous opportunities and challenges that the IoT revolution will present. This prospective boom signals a golden era for tech businesses, innovators, and investors who can thrive in this digital tide. Still, it also brings to the fore significant issues such as cybersecurity, privacy, and data management that will need to be strategically addressed in this IoT-dominant landscape.

IoT spending worldwide is projected to reach up to $1.1 trillion by 2023.

Forecasted to skyrocket to an impressive $1.1 trillion by 2023, worldwide IoT spending confidently paves the way in spotlighting the immense potential and escalating growth of the Internet of Things industry. The substantial financial projection is a crystal clear reflection of the importance industry players and investors are attaching to IoT, signaling it as the frontrunner in the race of technology revolution. In the realm of IoT statistics, such an unparalleled financial prediction not only provides an exciting destination on the industry’s horizon, but also charts the course for technological advancements, investment opportunities, and potent market development trends, leading the IoT industry towards unprecedented transformations.

90% of automobiles are expected to be IoT enabled by 2020.

Plunging into this mind-boggling statistic will illuminate the pervasive influence of Internet of Things (IoT) on our automobile industry. The expected ratio of 90% of automobiles to be IoT enabled by 2020 underlines the seismic shift this technology is causing in transportation, notably in regards to safety, efficiency, and personalization. This mind-bending percentage presents an audacious forecast of the pervasiveness of IoT infiltration into cars, revolutionizing not just the way we drive, but also the infrastructure of cities, traffic management, and environmental conservation.

Envisage a world where cars communicate with each other to evade collisions or adjust routes based on live traffic data, a world where our cars become an extended ecosystem of our connected lives – syncing with our smartphones, homes, and cities. This statistic emphasizes the anticipation of this world becoming a reality, thereby underscoring its significance in this blog post examining the expanding horizons of IoT industry trends.

Not only does this compelling statistic pique curiosity but it also serves as a subtle yet stirring reminder of the industry’s formidable potential in reshaping the future of mobility and the pivotal role of IoT in orchestrating this transformation. Hence, it indispensably makes a substantial part of this blog post that centres on Internet of Things Industry Statistics.

Over 25% of attacks will involve IoT by 2025.

Peering into the lens of foresight, the statistic “Over 25% of attacks will involve IoT by 2025” serves as a powerful beacon guiding the conversation around Internet Of Things Industry Statistics. Its importance cannot be overstated, as it glaringly illuminates the mounting security challenges confronting the Internet of Things (IoT) industry.

In this pulsating digital age, where an ever-growing number of devices are interconnected, this figure hammers home the increasing premium placed on cybersecurity. Showing that a quarter of all predicted attacks are slated towards IoT by 2025, this statistic is a stark reminder of potential vulnerability, commanding industry leaders to reinforce and re-evaluate their defenses.

Moreover, it adds to the comprehensive picture of IoT’s evolution, highlighting the daunting balance of innovation, interconnectivity, and information security. It thus frames a pivotal discussion on safeguarding connected devices, data privacy, and ensuring user trust – all fundamental elements poised to shape the trajectory of the IoT industry.

The number of businesses adopting IoT technologies reached 85% in 2019.

Highlighting an impressive statistic like “The number of businesses adopting IoT technologies reached 85% in 2019” paints a vivid picture of just how integral IoT is becoming in the modern business landscape. It punctuates the growing trend and widespread acceptance of IoT solutions across various industries. This particular statistic can serve as a catalyst for readers to understand the enormity and velocity of IoT growth, potentially inciting business owners, entrepreneurs, investors, and even casual observers to pay close attention to advancements, trends, and potential in the IoT industry. Not only does this statistic underline the current state of affairs, but it also paves the way for anticipations and predictions for IoT in the near future.

China, North America, and Western Europe are expected to account for 67% of the world’s IoT installed base by 2020.

The pulse of IoT’s future throb mainly in three geographical chambers – China, North America, and Western Europe. Acting as the engines of this digital revolution, these regions are predicted to host 67% of the global IoT installations by 2020. As we navigate the terrain of IoT industry statistics, this projection affirms the reign of these regions in shaping global IoT trends. It showcases their technological ethos, underlining their strategic position as IoT nerve centers – a riveting insight for enthusiasts, investors, and businesses looking to tap into the explosive potential of this industry. It’s a pulsing reminder of where the majority of the IoT heart will beat the hardest by 2020, dictating how the internet of things coalesce into our everyday lives in the next digital decade.

The healthcare sector will invest $410 billion in IoT devices by 2022.

Reflect upon the impressive figure of $410 billion in IoT investments by the healthcare sector by 2022. This colossal sum underscores not just the magnitude and potential of IoT in healthcare, but also its accelerating rate of adoption. In the backdrop of the myriad digital transformations sweeping across industries, such statistics reaffirm healthcare’s position at the forefront of embracing IoT technologies.

On a deeper dive, this statistic also lays bare the dependencies and trust the healthcare sector is placing in IoT, recognising its potential to enhance patient care, optimize operations and drive higher efficiencies. This significant monetary investment also vividly illustrates how healthcare leaders are gearing up to make substantial strides in cutting-edge technology, thereby echoing the larger narrative of IoT’s growing footprint across industries.

Overall, this statistic doesn’t merely illustrate a grand investment; it signals an era of streamlined medical procedures, improved patient treatments, and a holistic adoption of IoT, making it an enlightening point of discussion for any discourse centered around IoT industry statistics.

The manufacturing industry is expected to spend $189 billion on IoT in 2020.

Highlighting the monumental spending forecast of $189 billion on IoT in 2020 by the manufacturing industry accentuates a formidable shift in how sectors are leveraging the prowess of technology. In the vast expanse of Internet of Things Industry Statistics, this figure stands as a beacon, signifying the tremendous economic impact IoT solutions are expected to have in the coming years. It underpins the emerging trend of digital transformation, uncovering a future where, spearheaded by the manufacturing industry, organizations across the industry spectra may invest significantly in fortifying their operational processes with IoT. Furthermore, it paints a compelling narrative of the escalating confidence leading businesses have in advanced IoT implementations as catalysts for optimization and growth.

74% of people who have a smartphone are connected to IoT services.

Painting a vivid picture of the Internet of Things industry, the statistic that 74% of smartphone owners are connected to IoT services signifies a monumental shift in how individuals interact with technology and their surroundings. Delving deeper, this statistic unveils the progressive integration of people’s day-to-day lives with digital advancements, showcasing a tech-savvy population actively embracing IoT for its strong potential to streamline and enrich life.

From a business perspective, this statistic heralds a significant potential market for future IoT development and services, emphasizing the importance of the smartphone as a pivot point for IoT consumer engagement. This unspoken promise of opportunity beckons businesses in the IoT industry to innovate and invest, signaling forecasts of technology-trending growth in the foreseeable future. Thus, this compelling statistic indirectly reverberates a crescendoing call-to-action for the industry – to further break barriers, meet the identified demand, and tap into the smartphone-user market.

For the average blog reader, these numbers may be viewed as an affirmation of an ongoing digital revolution, and a forecast of where it’s leading us: a hyper-connected world of seamless interplay between digital devices and physical environments. Sharpening our understanding of the IoT landscape, the statistic serves as a captivating depth charge for discussions concerning the IoT industry and its omnipresence in our lives.

IoT technologies enable companies to reduce maintenance costs by 30%, reduce downtime by 45%, and save 12% over total maintenance costs.

In the grand tableau of Internet of Things (IoT) Industry Statistics, the ability for companies to diminish maintenance costs by 30%, shrink downtime by 45%, and create a savings buffer of 12% over total maintenance costs speaks volumes of the transformative power of IoT technologies. It paints a vibrant image of not only cost efficiency, but also operational effectiveness, underscoring the fact that investing in IoT is no longer a futuristic concept, but a present-day fiscal imperative. With these figures, one can confidently conclude that the digital tapestry within the business world is interwoven with cost-cutting threads of IoT solutions, which are redrawing the cost dynamics and enhancing productivity for companies across the globe.

By 2020, more than half of major new business processes and systems incorporated some element of IoT.

In analyzing the progression and relevance of IoT in the world of business, this statistic provides a compelling snapshot. Picturing a world where over half of the significant new business processes and systems have integrated some aspect of IoT by 2020, underlines the growing importance of IoT in various sectors. Essentially, it paints a vibrant image of how technology, particularly IoT, is becoming an integral part of our business environments, as well as the speed at which this integration is happening. This significant uptick marks the dawn of a new era, setting the stage for a future where IoT could ultimately become the backbone of successful business operations.

The IoT analytics market size is projected to grow from $19.8 billion in 2020 to $51.5 billion by 2025.

In the realm of Internet Of Things (IoT) Industry Statistics, the anticipated escalation of the IoT analytics market from $19.8 billion in 2020 to a staggering $51.5 billion by 2025 paints a vivid picture of the industry’s dynamism and formidable growth potential. Imagine this: in a relatively short span of five years, the market size is predicted to more than double, signaling a promising trajectory in both innovation and revenue generation. This substantial upswing in the market valuation can act as a significant barometer of the ever-growing importance and reliance on IoT within various sectors. It underscores the profound role IoT analytics play in business optimization and decision-making; heralding a future where these technologies will be an indispensable tool for businesses across the globe. This isn’t just a statistic – it’s a testament to the industry’s robust evolution and the growing prominence of IoT in our interconnected world.

68% of businesses believe IoT is essential for staying current in the tech industry.

In the sphere of Internet Of Things (IoT) industry statistics, the figure quoted- ‘68% of businesses believe IoT is essential for staying current in the tech industry’ illuminates a compelling trend. It provides a clear indication of the perceived value of IoT in the landscape of technological evolution, essentially painting a picture of its anticipated influence.

The statistic underscores a ubiquitous belief among thriving businesses that IoT is not just a transient business tool, but a critical instrument for maintaining relevancy in the rapidly transforming tech industry. The percentage attests to the growing influence and acceptance of IoT as an integral part of technological advancement, highlighting the significant role it plays in contemporary business strategies.

Moreover, it hints at a landscape where IoT technology could soon morph from being an optional technology to a mandatory utility to survive in the competitive tech industry. Thus, the statistic becomes a crucial piece of evidence, substantiating the converging momentum within the technology sector towards IoT and its implications.

Conclusion

In a nutshell, the Internet of Things (IoT) industry is experiencing an extraordinary growth and transformation. Statistics continue to amplify how IoT is revolutionizing various sectors and influencing our daily lives. With millions of devices connected daily, IoT is no longer a futuristic concept – it is very much a part of our present. However, to fully harness the potential of this technology, businesses and individuals alike need to understand and adhere to data security and privacy regulations. As we move forward, these IoT industry statistics will not only evolve but define a significant part of our digital future.

References

0. – https://www.www.semico.com

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9. – https://www.iot-analytics.com

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FAQs

What is the Internet of Things (IoT) industry?

The Internet of Things industry refers to the network of physical devices, appliances, and other items embedded with sensors, software, and network connectivity, facilitating these objects to connect and exchange data over the Internet. The industry is all about interrelated systems including machines, mechanical and digital devices, objects, people, or animals that are provided with unique identifiers.

What is the estimated value of the IoT industry?

According to Markets and Markets research, the IoT market size is expected to grow from $761.4 billion in 2020 to $1,386.2 billion by 2026, at a Compound Annual Growth Rate (CAGR) of 10.6% during the forecast period.

What major industries can benefit from IoT?

Many industries can benefit from IoT. These include but are not limited to manufacturing, healthcare, transportation, utilities, agriculture, retail, and smart cities. IoT can be used to monitor systems, improve efficiency, boost productivity, enhance safety, and solve critical problems.

What are the primary challenges within the IoT industry?

Some of the principal challenges within the IoT industry include data security and privacy issues, lack of standardization, concerns over data ownership, and technological complications such as connectivity issues, scalability, and the need for power-efficient solutions.

Which technologies are enabling the growth of the IoT industry?

Several technologies are enabling the growth of the IoT industry. Key among these are cloud computing, which provides the infrastructure for storing and processing data; 5G, which allows faster data transmission; Artificial Intelligence, which enables intelligent decision-making; and edge computing, which enables data processing closer to the device thereby reducing latency.

How we write our statistic reports:

We have not conducted any studies ourselves. Our article provides a summary of all the statistics and studies available at the time of writing. We are solely presenting a summary, not expressing our own opinion. We have collected all statistics within our internal database. In some cases, we use Artificial Intelligence for formulating the statistics. The articles are updated regularly.

See our Editorial Process.

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