By Ana Bera
If you’re interested in learning more about the Internet of Things, as well as finding some IoT forecasts for the near future, you’ve come to the right place.
First, let’s clear up what the Internet of Things is and why our home security systems and washers need to be connected to the internet. The IoT is defined by everyday objects, interconnected via the internet in order to send and receive data. The reason why we connect these objects is simple: for convenience. To help you understand this technology better in 2019, we’ve created the following list of Internet of Things statistics.
Being able to arm your security system remotely, or start your washer, turn your lights on or off, or adjust the thermostat while being nowhere near them is a convenience our grandparents fantasized about. Looks like we will probably never have to worry about leaving the stove on again.
Top 5 IoT Statistics:
26.66 billion IoT devices in 2019 were active
By 2025 there will be 75 Billion IoT devices in the World
127 new devices are connected every second to the internet
By 2020, 40% of IoT devices will be used in the healthcare industry
Global market will grow up to 457 Billion by 2020
1. There were 15.41 billion IoT connected devices in 2015.
Back in 2015, the number of Internet of Things connected devices was 15.41 billion. But Internet of Things statistics show that IoT devices started taking over the world even earlier than this; the first time that the number of IoT devices exceeded the number of people on Earth was in 2008.
2. There are 26.66 billion IoT devices in 2019.
The number of IoT devices keeps growing. Currently, there are 26.66 billion of these devices. The number keeps growing by the hour, so the question How many IoT devices are there? can’t be answered with great accuracy.
3. The number of IoT devices is expected to surpass 75 billion by 2025.
In just six short years from now, the number of IoT devices is expected to nearly triple and reach 75.4 billion by the year 2025. These numbers belong to the more humble group of expectations; a few years ago, Intel predicted that, by 2020, the number of IoT devices would reach 200 billion. So how many connected devices will there be in 2020? The answer is around 30.7 billion.
4. 127 new devices are connected to the internet every second.
Some people might have difficulties understanding just how many devices are interconnected using the internet. The information that 127 new devices join the IoT party every second should help with that.
5. The number of IoT devices was projected to exceed the number of mobile devices in 2018.
Early predictions showed that IoT devices should have surpassed mobile device numbers by 2018. However, they were able to do so even earlier; Internet of Things statistics show that these devices outnumbered mobile devices 3:1 in 2015.
Where IoT Devices Are Used Commercially
The biggest user of Internet of Things devices is the business/manufacturing industry. IoT devices are used to control robotic machinery, provide diagnostic information about equipment, and deliver real-time analytics of supply chains.
7. 30.3% of IoT devices are used in the healthcare industry.
IoT statistics provided by Intel point out that the second largest IoT consumer is the healthcare industry. IoT devices find various applications here, from portable health monitoring to serving as a safety measure for personal records. A major role in preventing pharmaceutical manipulations is played by IoT devices, Intel says.
8. 8.3% of IoT devices are used in retail.
The third largest user of IoT devices are retail services. 8.3% of all IoT devices are involved in this market, and they serve various purposes, such as tracking inventory, servicing online clients, and conducting consumer analytics, the Internet of Things stats provided by Intel show.
9. 7.7% of IoT devices are used in security.
Most security systems are meant to communicate with some other device, therefore it shouldn’t come as a surprise that the fourth-largest application of IoT devices is in the business of security. Remote sensors, biometric and facial recognition locks, and many other similar devices all rely on IoT technology to perform their intended functions.
10. 4.1% of IoT devices are used in transportation.
With the growth of the Internet of Things, various devices have found their use in the transportation industry as well. From GPS locators and devices used for performance tracking to lane-keep assist and self-parking systems, vehicle manufacturers are our fifth-largest user of IoT devices.
11. 27% of all M2M connections are in China.
The IoT is most commonly used for commercial purposes, which you were able to read above. Machine to machine connections (M2M) are the most common in this sector.
According to the data available, 27% of all global M2M connections are in China. The Chinese government has invested more than $600 billion in this technology so far.
12. 29% of the M2M connections are in Europe.
Wondering how many IoT devices there are in 2018? In Europe and the 50 countries located on the continent, the number is just slightly higher than the total number of M2M connections located in China. If we compare continents, though, Asia holds 40% of all M2M connections.
13. 19% of M2M connections are in the US.
The US is far from being the leader in the industrial application of the IoT, with 19% of all M2M connections being located in the country. The rest of these connections are located in Latin America (7%), Africa (4%), and Oceania (1%), according to industrial IoT market size data.
How the IoT Impacts Business
14. In 2016, $737 billion was spent on the IoT.
Global spending associated with the IoT in 2016 amounted to $737 billion. According to ACT, an organization that represents more than 5,000 tech companies, the healthcare IoT market alone will be worth more than $117 billion by 2020.
15. By 2020, global spending on IoT technologies is expected to reach $1.3 trillion.
IoT trends show that by 2020, global spending on the market will nearly double its 2016 value and reach $1.3 trillion. The annual growth of 15.6% is expected to persist for the foreseeable future, with some, like Business Insider, predicting a spike in 2021, when they expect it to double.
16. Almost 75% of business-related IoT projects are failing.
Business owners tend to dive head first into new trends, and the same applies to the IoT. Nearly 75% of all IoT business projects are doomed to fail, according to the Internet of Things statisticsfor 2019, mostly due to a lack of understanding the data that the IoT provides.
17. There are 5 main reasons that IoT projects fail.
Time to completion is the most commonly cited reason behind IoT project failure. Businesses tend to take too long to complete their first project, causing unnecessary costs that run the project into the ground.
Limited internal expertise is another common issue. Making sense of the data that the IoT provides requires the involvement of experts on the topic.
Internet of things statistics show that the quality of data, integration across teams, and budget overruns make up the remaining 5 main reasons behind these IoT projects’ lack of success.
18. There are 3 main reasons behind successful IoT projects.
54% of businesses say that the reason behind their projects’ success was the collaboration between IT and the business side.
49% of business leaders agree that a technology-focused culture contributes to an IoT project’s success.
48% of them also list IoT expertise as a major factor in their success on the Internet of Things market.
19. More than 65% of enterprises will be using IoT products by 2020.
The significance of IoT for businesses is best represented by the projection that 65% of them will implement some form of IoT products into their business by 2020—a significant increase from mid-2018, when this number was sitting at around 30%.
20. 75% of organizations won’t be able to achieve the full potential of the IoT in 2020.
The lack of expertise is a major issue once again, as 75% of organizations aren’t expected to achieve the full potential of the IoT by 2020 due to a lack of data science specialists, Internet of Things statistics by Gartner point out. Universities are pushing for data science education, but it will take at least 5 more years until a noticeable improvement in this field is achieved.
21. 94% of businesses see an ROI on their IoT investment.
The organizations that incorporate the IoT into their business successfully are able to profit from the investment in 94% of the cases. These companies make sure they hire the right people for their IoT implementation, as well as invest in its maintenance and further development, this Internet of Things market analysis shows.
Additionally, the companies who see a positive ROI from the IoT make sure to know exactly what data they expect to gather and how to utilize it for their benefit.
How the IoT Impacts Our Lives and What We Buy
22. 1.9 billion smart home devices will be sold by the end of 2019.
Smart home devices are slowly becoming a habit and a necessity for us, as they make our lives easier. From smart lights that are controlled via smartphone to smart locks, the industry is worth billions.
Large companies are investing insane amounts of money following IoT trends, expecting to get a cut of the $490 billion profit made on the nearly 2 billion devices that will be sold by the end of the year. We saw Google buying the famous Nest thermostat for $3.2 billion, and they aren’t the only one investing, with Samsung acquiring SmartThings for $200 million.
23. More than 20% of US consumers will acquire a smart device by the end of 2020.
A fifth of all American consumers is expected to purchase a smart device by the end of next year, IoT statistics claim. This includes smart thermostats, refrigerators, security systems, and even smart clothing.
24. 14% of US consumers are expected to purchase an article of smart clothing by 2020.
By the time 2020 comes knockin’, 14% of all US consumers are expected to buy at least one piece of smart clothing. Smart shoes, shorts, and bras are mostly intended for athletic purposes, with heart rate and muscle activity tracking sensors, as well as other data that can be immensely helpful to professional athletes and their coaches.
So what is the future of the Internet of Things? One of the answers points to the health industry. It can benefit from these devices, as they can be much less inconvenient than the usual heart rate monitoring systems, especially for infants.
Smart jackets that let us interact with our phone without actually touching it are also expected to become a big thing.
25. The number of wearable devices sold is expected to grow by 191.5% in 2020.
Wearable devices, such as smart watches, were one of the most sold IoT items back in 2016, with more than 28.3 million units. Wearable devices, one of the largest IoT market segmentswhen it comes to personal use, are expected to sell around 82.5 million units in 2020. This doesn’t include smart clothing.
26. 57% of smart device owners say they use their gadget to save time.
Most smart device owners claim that the main purpose of their device is to save time. IoT devices are really good at this; from devices that help you cook and clean faster to devices such as Amazon Alexa and Google Home, which function as our virtual assistants, time-management has never been easier.
27. 45% of smart device owners say their device saves them money,
Internet of Things statistics from 2018 tell us that 45% of IoT device owners used their gadgets to save money. For this purpose, the most commonly used gadgets include smart LED lights, thermostats, and fridges. Being able to turn off the lights you’ve forgotten about, set the right temperature when you’re out of the house, or take a peek at what you have in your fridge while you’re at the store is a 21st-century convenience that we’ve quickly gotten used to and that can save us thousands of dollars every year.
28. One in five vehicles will have a wireless connection by 2020.
When it comes to IoT market size, Gartner predicts that the car industry will take a large chunk of it. According to their analysis, every fifth vehicle on the road will have some form of wireless connection by 2020. Cars have been using IoT technology for some time now, whether it’s to provide remote access to climate controls or to send data back to the manufacturer.
29. 60% of US customers are willing to share their car’s data with the manufacturer.
60% of all new car owners in the US agree that the data their car collects can be sent back to the manufacturer for analysis. The number of connected devices is so vast in this branch that car producers are constantly approached by advertisers who want to gain insight into the data.
30. Just 0.06% of the things that could be connected to the internet currently are.
IoT technology’s inevitable progress is best predicted by the fact that only 0.06% of all things that could be connected to the internet are currently connected. In the next few years, we will have the chance to witness a major influx of internet-connected devices. This and the similar Internet of Things facts on this list show us that, as more things in our surroundings get connected, the more convenient our lives become.
Even though we are just at the start of IoT technology’s rise, progress is being made at a staggering pace, making it difficult to keep up.
We are constantly reminded of potential safety threats and the risk that the IoT represents, yet we choose to buy millions of internet-connected products every year, as a sign of good faith towards the manufacturers.
The IoT is not a scary monster that’s out to get us, and its sole purpose is to drive the world forward. We hope that this list of Internet of Things statistics helped you understand the benefits it offers if utilized properly, for individuals and businesses alike.
The Number of IoT Devices: Past, Present, and Future