60+ IoT Statistics, Facts and Trends [2021 Edition] | Comparitech That margin is expected to grow larger as Asian countries more rapidly grow their automated manufacturing capacity. (, IoT Analytics predicts the industrial industry spent over $64 billion on IoT in 2018 and expects Industry 4.0 spending to increase to $310 billion by 2023. According to IDC forecasts, this number will rise to 82.5 million by 2020, showcasing a 31% growth. 93% of enterprises have adopted (or will adopt) some form of IoT technology by the end of this year. In fact, the total number of smartphone users topped 3 billion in 2018 and 6 billion in 2020. A further 31 percent use Microsoft Azure, while 26 percent use Google Cloud Platform (GCP). However, last year, it accounted for over 70%, indicating that developers are open to alternatives like FreeRTOS. This is a new term and concept applied to devices that work together in an interconnected way to gather information, often to better automate processes, and to create a more cohesive and informed user experience. The report contains data of the base year 2018 and historic year 2017. Industrial Internet of Things (IIoT) has a heavy focus not on people using machines, but on machine automation with minimal human input thanks to robotics. The following graphic provides a global IoT market forecast by sensor type in Source: Statista, Projected global Internet of Things enabled sensors market in 2022, by segment. This technology, however large its market potential is, poses some issues. That’s such a huge leap from 968,000 in 2015 to 24.75 billion in 2021. $1.4 billion – the amount paid in cash by Cisco to acquire IoT startup company, Jasper Technologies, in 2016. Some of the most important issues that must be addressed before truly enjoying every benefit that IoT products bring include: Impersonated to file fraudulent tax returns. How much does your ISP spend on lobbying? IoT software market size will continue to grow both in the short- and long-term. According to Gartner, there will be over 14 billion connected devices by the end of 2019, and over 25 billion by the end of 2021. A decade of being immersed in IoT means there are big numbers to show for it. “Adoption of IoT has increased the need for necessary tools to process the large volume of data and generate actionable insights. In 2016, 28.3 million units of IoT devices made it to the market. (, 50 percent of healthcare IoT is used for remote operation and control, and 47 percent connect their devices to location-based services. as of 2018), the growth of IoT has produced some surprising data and stats to explore. (, Security breaches are a significant drawback to IoT. With billions of dollars being spent on it, there is no telling where the future would lead. The global IoT monetization market size was valued at $44,198 million in 2017 and is projected to reach $1,361,395 million by 2025, growing at a CAGR of 53.6% from 2018 to 2025. Allan Jay is FinancesOnline’s resident B2B expert with over a decade of experience in the SaaS space. (, Most guidance systems are used for corn, with almost 70 percent of this crop planted and grown using this technology. This was at first a surprising statistic but it ties well into the major IoT growth industries of Discrete Manufacturing, Transportation and Logistics, and Utilities. The number of businesses that use the IoT technologies has increased from 13 percent in 2014 to about 25 percent today. © 2021 Comparitech Limited. Predictions 2021: Technology Diversity Drives IoT Growth. (, Around 35 percent of planted corn in the US is monitored with yield mapping technology, which uses GPS to map crop yields and moisture levels. IoT Industry Market Share, Growth, Statistics, by Application, Production, Revenue & Forecast to 2025. After reading this article, you should have a better grasp of the role IoT can play in the business landscape, the best artificial intelligence software you can use to harness this, as well as how other companies are using this technology. Construction IoT has the potential to vastly reduce various accidents, including backover accidents, by using RFID technology to deliver proximity warnings. More than just a tech buzz word, IoT, or the "Internet of Things" is now a major economic driver worldwide, as well as an integral technological revolution for most industries. (, The healthcare IoT market is expected to be worth 534.3 billion by 2025. He has worked with vendors primarily as a consultant in the UX analysis and design stages, lending to his reviews a strong user-centric angle. (, However, only 5 percent see themselves as on the “cutting edge” of construction technology implementation. $151 billion – the projected global market worth of IoT in 2018 by IoT Analytics. Cloud Computing in Industrial IoT Market Share, Growth, Statistics, by Application, Production, Revenue & Forecast to 2025 Author : Market Study Report | Published Date : 2020-12-29 Share; The Cloud Computing in Industrial IoT market research report now available at MarketStudyReport.com delivers a thorough analysis of the industry trends influencing the global business scenario. The global Internet of Things (IoT) market size was at $ 330.6 billion in 2020 and is expected to reach $ 875.0 billion by 2025, at a compound annual growth rate (CAGR) of 26.9% during the prediction period. This is 37% higher than the previous year. (, Over 60 percent of organizations currently use IoT, with only 9 percent that have no IoT implementations at all. IoT is set to allow robots to operate more intelligently in the industrial sector, with a move toward greater efficiency and cost savings. Thus, it is good to note that IoT use and adoption grows in relation to that the adoption rate of AI as well. Also, IoT is usually deployed together with the tools for artificial intelligence out there in the market. (, Amazon Web Services (AWS) dominates the IoT market, with 40 percent of IoT developers utilizing AWS. It’s not a bad thing, however, because this innovative technology can bring a lot of positive changes. Category: #business By Ashwin Naphade Published: 6 minutes ago. 1 Stay current on your favorite topics (, 80 percent of healthcare business executives see increased innovation as the biggest advantage of IoT implementation. $117 billion – total net worth of the connected health care market in 2020. IoT takes developers, and many organizations are now rolling out IoT development, both in house and using dedicated software development companies. Bluetooth and the various cellular protocols are tied in third place, with 37% each. 90% of developers believe that IoT products aren’t equipped with sufficient security features. $1.2 trillion – the predicted technology spending on IoT by 2022. Consequently, IoT technology will play a huge role in making safety and interoperability measures. April 2019 - IBM Corporation announced a collaboration with Sund & Bælt, which owns and operates some of the … In Germany, 91 percent of industrial/manufacturing businesses invest in “digital factories” that include IoT solutions. (, The most common security threats to IoT were malware (49 percent), human error (39 percent) and DDoS attacks (22 percent). ... Consumer and employee location data will be core to convenience. By 2025, forecasts suggest that there will be more than 75 billion Internet of Things (IoT) connected devices in use. There’s a lot of attention on how IoT can be used to improve worker safety in construction, which many workers and industry observers openly welcome. Unknown to many, there is a silent force that is enabling this rapid ascent of IoT: allied Digital Twins. Executive summary: The latest IoT Data Governance market research report, apart from elaborating on the driving forces and opportunities, at. Given the construction industry is among the most dangerous for workers, IoT can help make it safer than ever before, so long as businesses in construction are willing to spend the money to make it happen. “Start with an appropriate IoT data architecture that will support the expected growth in the volume of IoT,” he says. $37 million – yearly savings of the city of Barcelona thanks to smart lighting. (, Most IoT devices are those we’re using at home, or at work. However, there are other serious problems that surface; the more IoT data is presented. (, Over a quarter of all cyberattacks against businesses will be IoT-based by 2025. document.getElementById("comment").setAttribute( "id", "a853de4719e140887fb340a9c452316b" );document.getElementById("g870abf955").setAttribute( "id", "comment" ); FinancesOnline is available for free for all business professionals interested in an efficient way to find top-notch SaaS solutions. 71.6% is the Compound Annual Growth Rate (CAGR) of smart clothing (IoT connected) units sold. Most (over 57 percent) see themselves as followers or even behind the curve. Both the critics and supporters of this industry have shared sentiments regarding these challenges. The healthcare industry has been a rapid adopter of IoT technology. In 2021, brands must … This ultimately includes various IoT implementations. China has the world’s largest IoT market, boasting 64 percent of the 1.5 billion global cellular connections including the rapidly growing Mobile IoT licensed LPWA technologies2. Not to mention the 47,000 new job opportunities it opened. (, Asia and Australia collectively are the biggest users of industrial robots. Device sales were forecast to be over $50 billion in 2018, while over 663 million smart home devices were in homes around the world in 2017. By comparison, 85 percent of non-healthcare businesses planned to do so in that same time period. (, Farmers are also using GPS for soil mapping and variable-rate technologies (which allow farmers to vary crop inputs based on growing conditions) at a rate of around 20 percent per planted acre. However, home automation is losing favor, accounting for just 19% of projects. For better or worse, it’s capable of a lot more. From security systems and appliances to new and emerging devices, all are getting connected over the Internet. Human beings’ natural resistance to change is one. Considering IoT is primarily about the number of devices connected to the internet, these stats demonstrate how large the Internet of Things has grown. $3.2 billion – the amount with which Google purchased NEST in 2018. And we have a list of statistics to show for it. 85% of developers felt the pressure to finish an IoT app and sell it to the market even if security concerns are still present. This figure is expected to grow to 30.7 billion and 75.4 billion in 2020 and 2025, respectively. Over 40 percent of commercial drones are used for industrial inspection. (, Hardware solutions, such as sensors, were the biggest part of the Smart Agriculture market in 2017, comprising over 72 percent of the market. Keep it clean. We are able to keep our service free of charge thanks to cooperation with some of the vendors, who are willing to pay us for traffic and sales opportunities provided by our website. (, For programmers in IoT, C is a popular language for constrained devices, while Java is the most popular for gateway and edge nodes, as well as IoT cloud applications. Only 32 percent of data analytics professionals in the industrial industry state they are “good” or “excellent” at interpreting sensor data correctly. According to IEEE, over 80 percent of healthcare organizations that use IoT devices have suffered a security breach of their IoT devices or infrastructure. $2.4 billion – the acquisition fee of Verizon to get the rights of Fleetmatics, a fleet management company, in 2016. Given the fact that IoT security is such a pressing issue, it is interesting that IT professionals see IoT systems as an opportunity to boost security. IoT is such a big industry because of the wide application it has. Such is the rapid growth of IoT. Internet of Things (IoT) middleware is software that serves as an interface between components of the IoT, making communication possible among elements that would not otherwise be capable to interface in integrated technologies. (, Almost 70% of American households have at least one smart home device. ... Easily-connected health devices remotely monitor and manage patients, and get real-time … Stay on topic. All rights reserved. (, The global IoT market was worth over $150 billion in 2018 and is expected to exceed $1.5 trillion by 2025. (, Smart home devices are and will continue to be a major component of IoT. Global IoT connectivity market is set witness healthy CAGR of 18.85% in the forecast period of 2019- 2026. (, Manufacturing IoT grew 84 percent between 2016 and 2017, the highest of any industry. 40% of rural areas either lack reliable internet connection or any connectivity at all. It sports features like visual recognition, a language translator, and natural language classifier that is perfect for many IoT data uses. From smartphones to Wikipedia, the Internet as a medium has resulted in a complete and total transformation of societies worldwide. Rising integration of blockchain with IoT and rising demand for support and maintenance services are the factor for the market growth. IoT market trends suggest that B2B IoT devices will increase from 2.5 billion in 2017 to 5.4 billion in 2020. (, Excluding Linux, the top two IoT operating system landscapes include Windows and FreeRTOS. From a technical standpoint, however, the “Internet of Things” can be defined. Therefore, it comes as no surprise that these huge companies are already starting to invest in this technology. This adds to the security threats that IoT technology faces. (, Commercial drones are a major tool in industrial IoT. A decade of being immersed in IoT means there are big numbers to show for it. Be nice. With these IoT statistics in mind, you are likely to have a better understanding of this technology. There are also smart homes, smart cities, smart cars, and others. It’s interesting to note that Cisco IoT statistics also suggest a more modest number of 30 billion IoT … Please note, that FinancesOnline lists all vendors, we’re not limited only to the ones that pay us, and all software providers have an equal opportunity to get featured in our rankings and comparisons, win awards, gather user reviews, all in our effort to give you reliable advice that will enable you to make well-informed purchase decisions. Here’s a list that details how IoT devices would impact different sectors. So needless to say, IoT market size is varied, enormous, and steadily growing. (. 250 million connected cars will be present in 2020. This site uses Akismet to reduce spam. There has been a good number of corporations that purchased smaller companies in the past few years. (, The manufacturing industry poured $183 billion into IoT in 2017. By Michele Pelino. It’s a leap from $119 billion in 2020 to $310 billion in 2023. As of 2018, over half of all IoT devices were connected to Wireless Personal Area Networks, such as Bluetooth, Zigbee, and Z-Wave. In this light, spending a huge amount on this industry isn’t a surprising action at all. 75% of organizations will not benefit from the full potential of the IoT technology they’re using. Phones aren’t the only smart thing present these days. (, Companies expect IoT and other digital technologies to improve efficiency by 12 percent. With the IoT coming into prevalence, the world is becoming increasingly connected, and companies providing IoT testing services are emerging. And the worldwide number of IoT-connected devices is projected to increase to 43 billion by 2023, an almost threefold increase from 2018. (, Industrial IoT makes up 17 percent of all global IoT projects. These examples aren’t even scratching the surface of what the Internet of Things can do. In very simple terms, IoT is about attempting to connect pretty much everything in the world to the internet in some way. A management professional by training, he adds the business perspective to software development. $170 billion to $560 billion – The projected growth of the IoT market from 2017 to 2022. This includes intelligent traffic signals, smart meters, and Wi-Fi kiosks. All 50 states ranked by support for net neutrality. (, Industrial data analytics may cause a few headaches along the way. The IoT is a network of objects connected to the Internet that collect and exchange data using built-in sensors. Market share and consumption growth rate of each region over the estimated timeframe are cited in the document. Whether we are ready or not, IoT is definitely finding its way into our lives. Now wrap your head around that. . (depending on the source) as farmers worldwide seek to utilize RFID, GPS, drones, sensors, and more to gather actionable data and to automate every part of the process. Human operated machinery is decreasing in the manufacturing and industrial sector, making automated IoT that requires a decreasing level of human input a large focus. Gartner Says By 2020, a Quarter Billion Connected Vehicles Will Enable New In-Vehicle Services and Automated Driving Capabilities, IDC Forecasts Worldwide Technology Spending on the Internet of Things to Reach $1.2 Trillion in 2022, How the ‘Internet of Things’ will affect the world, New market report uncovers 9 disruptive trends and ranks 12 key use cases transforming smart manufacturing, Professional Services Automation Software - PSA, Project Portfolio Management Software - PPM, 38 Impressive IoT Statistics: 2021/2022 Data Analysis & Market Share, IoT, together with CRM can influence customer engagement, Global IoT end-user spending worldwide 2017-2025, State of the IoT 2018: Number of IoT devices now at 7B – Market accelerating, $381 billion – the 2020 global IoT revenue adjusted for the effects of the pandemic, according to GSMA Intelligence estimates (, This is 9% lower than the original estimate before the onset of the pandemic. He likes validating a product against workflows and business goals, two metrics, he believes, by which software is ultimately measured. Although a revolution in and of itself, the internet has also birthed a large number of other technology revolutions. Data journalist, privacy advocate and cord-cutting expert. projects occurring within the Americas. (, “Smart cities” are a major and emerging concept in IoT. 27.04% – CAGR of predicted global spending on Industry 4.0 services and products. (, Research indicates the data privacy, interoperability, and flexible governance structures were among the most important factors on a company embracing IoT devices. (, As of 2019, 25 percent of rural farms in the US lacked internet connectivity, making most farming IoT solutions difficult to implement. (, More specifically, China is the largest user of industrial robots (over 137,000 units), with Japan in a distant second (over 45,000 units). And with more devices connected to the web than people (over 4 billion web users as of 2018), the growth of IoT has produced some surprising data and stats to explore. (, China uses more industrial robots (many of which are internet-connected in some way) than anyone else in the world. At this point, we’ve shared enough IoT reports, and we couldn’t stress enough how big a market this is. Agriculture has always been quick to adopt new technologies that make every aspect of the industry faster and more efficient, as profit margins for both large and small-scale farms can be thin and driven by sometimes unpredictable markets. $32 billion – the whopping sum with which Softbank purchased ARM in 2016. The future is bright for this industry. In the latest report on ' IoT Security Solution for Identity and Access Management (IAM) Market', added by Market Study Report, LLC, a concise analysis on the recent industry trends is covered. 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