The Internet of Things (IoT) represents all the physical things that are connected to the internet. Companies integrate a number of software and devices to extract and use data in a certain way.
If you are looking for the important IoT statistics, we have listed the top IoT statistics in this article that will let you know the current trend and use.
1. Global IoT spending for security clocked $3.1 billion in 2021
According to i-scoop, companies across the globe spend around $3.1 billion to enhance their security using IoT. This number is growing as cyber-attacks are surging every single day. Thus, companies have started integrating IoT with their core security ecosystem.
2. Building automation surged by 42% in 2020
According to Gartner, construction businesses have rapidly increased their spending on building automation.
In 2020, this number reached $11.9 billion is was expected to grow by 42% in 2022. The primary reason behind this surge is the need to minimize the health risks associated with COVID-19.
3. The wearable market will be worth $1.1 billion by 2022.
According to Statista reports, the wearable market is growing at a rapid pace and is expected to be worth $1.1 billion by 2022. This growth can be attributed to the increasing awareness about fitness and health among people across the globe.
In this figure, the smartwatch market is the most significant contributor.
4. Apple had a 40% market share in the smartwatch industry in 2020
According to AppleWorld, Apple holds the highest market share in the smartwatch industry. In 2020, its market share was 40%, a significant increase from its 2019 market share of 34%.
This growth can be attributed to the success of the Apple Watch Series 5. On the other hand, Samsung had a 30% market share in the smartphone industry in 2020.
5. More cities will continue to adopt IoT as a mainstream advancement.
According to Enterra solutions, cities with over 1 million inhabitants that have adopted IoT will grow from 290 in 2015 to over 500 by 2025.
This growth can be attributed to the various benefits that IoT brings, such as improved efficiency, better decision-making, and enhanced connectivity.
6. There will be expected to be around 30.9 billion IoT devices worldwide by 2025
According to Statista, there will be around 30.9 billion IoT devices by 2025. This number is overgrowing as more and more companies are integrating IoT into their businesses.
The primary reason behind this growth is the need to increase efficiency and productivity.
7. Around 127 new IoT devices connect to the internet every second.
According to McKinsey Global Institute, around 127 new IoT devices connect to the internet every second. This number is expected to grow as more and more companies adopt IoT technology.
The primary reason behind this growth is the need to increase efficiency and productivity.
8. Consumer electronics has a share of 63% of the total installed IoT units in 2020
According to Statista, consumer electronics has the largest share of installed IoT units. In 2020, this number was 63%, and it’s expected to grow in the future.
The primary reason behind this growth is the increasing popularity of smart devices among people across the globe.
9. The Global IoT market was worth $330.6 billion in 2020
According to Market Data Forecast, the global IoT market was worth $330.6 billion in 2020. This figure is expected to grow at a CAGR of 21.9% from 2021 to 2026.
The primary reason behind this growth is the need for efficient data management and better decision-making.
10. Hardware alone accounted for 35% of the overall $1.7T market valuation.
According to PwC reports, hardware contributed to 35% of the overall $1.7T market valuation in 2020. Moreover, this figure is expected to grow in the coming years as more and more companies are investing in hardware for their IoT solutions.
11. 100% of the global population will have LPWAN coverage by 2022
According to McKinsey Global Institute, 100% of the global population will have LPWAN coverage by 2022. This growth is attributed to the increasing number of IoT deployments across the globe.
LPWAN is a crucial technology for IoT as it offers long-range connectivity and low power consumption.
12. The number of cellular IoT connections will cross the mark of 3.5 billion by 2023
The number of cellular IoT connections will cross the mark of 3.5 billion by 2023. This growth is attributed to the increasing adoption of IoT across various industries.
Furthermore, cellular IoT is crucial for mission-critical applications as it offers high reliability and security.
13. IoT holds the potential to generate a value of $4 trillion to $11 trillion by 2025
According to McKinsey Global Institute, IoT has the potential to generate a value of $4 trillion to $11 trillion by 2025. Moreover, it is expected to contribute to the global GDP by 2025.
This growth is attributed to the increasing adoption of IoT across various industries.
14. 1The industrial internet of things (IIoT) market will reach the value of $14.2 trillion by 2030
According to Accenture, the industrial internet of things (IIoT) market will reach $14.2 trillion by 2030. It will be a significant jump from $124B in 2021. This growth is attributed to the increasing adoption of IIoT across various industries.
15. Logistics and transportation are projected to spend around $40 billion on IoT advancements.
According to Statista, logistics and transportation will spend around $40 billion on IoT advancements by 2025. In addition, the healthcare industry will also invest $15 billion in IoT by 2025.
16. The highest use of IoT is in the segments of Smart City (23%), Connected Industry (17%), and Connected Building (12%).
According to IoT Analytics, the highest use of IoT is in the segments of Smart City (23%), Connected Industry (17%), and Connected Building (12%). These segments are expected to overgrow as more and more cities invest in smart city projects.
17. 54% of enterprises say IoT helps them save cost
According to IoT Analytics, 54% of enterprises say IoT helps them save costs. Moreover, 56% of enterprises believe that IoT improves their operational efficiency.
These benefits are attributed to the increasing adoption of IoT across various industries.
18. Around 23% of Chinese companies use IoT to gain competitiveness.
According to a report, around 23% of Chinese companies use IoT to gain competitiveness. Moreover, this figure is expected to grow in the coming years as more and more companies are investing in IoT.
The primary reason behind this growth is the need for better data management and decision-making.
19. 58% of manufacturers say IoT is needed to transform industrial operations
According to GE, 58% of manufacturers say IoT is needed to transform industrial operations. Furthermore, this number is expected to grow in the coming years as more and more companies are investing in IoT for their business operations.
20. More than 80% of senior executives say IoT is important to all their business lines.
According to Statista, more than 80% of senior executives say IoT is important to all lines of their business.
The experts are majority from industries including technology, media, and telecommunications, followed by financial services and, energy utilities & mining.
21. Real-world benefits gained from IoT will grow by 17%
According to the worldwide survey by Fierce Electronics, the business benefits that companies gain from IoT will surge by around 17%.
The number is supposed to grow in the upcoming time. Many business owners believe that the benefits they are getting from IoT are encouraging, and they will continue to invest in the same.
22. Around 93% of the enterprises have adopted IoT at some level.
According to Security Today, around 93% of businesses use IoT on a certain level. In addition, 59% of them use IoT for monitoring and maintenance.
Moreover, 55% use it for location-based services. The most-used IoT devices are energy meters, mobile devices, and smart appliances.
23. Around 80% of manufacturing companies integrated IoT in some way in 2020.
According to Security Today, around 80% of manufacturing companies have already integrated IoT by 2020.
This figure is expected to grow in the coming years as more and more companies are investing in IoT. In addition, most companies are using IoT for automation and security.
