Welcome to the time of Internet of Things (IoT).
It’s a world where your fridge sends you notifications to buy milk or your door closes on its own when you leave the street. Connected devices have become an integral part of our lives.
Whether it is home, office, hospital or finance, or any companies, IoTs communities spread in all aspects of human life. The statistics of IoT prove that connected devices or machines are no longer a new technology but a solution to the needs of this technological world.
Many organizations have adopted the use of IoT IoT device management platforms easy tracking, monitoring, and maintenance of physical equipment on the scale. Let’s dive deep into the IoT statistics and use the facts to provide a strong IoT proof in your organization.
Advanced IoT statistics
From smart homes to factories, IoT is changing our daily lives and the way we work as businesses. Below is a list of top IoT statistics that reveal how IoT machines and devices are increasingly immersed in the digital world.
- In 2022, 871 million smart home devices will be shipped. This number is expected to rise to 1.23 billion in 2027.
- B2B applications have the potential to generate nearly 70% of IoT-enabled value.
- $1.1 trillion is the predicted growth of the IoT market in 2023.
companies have integrated IoT into their operations in some way.
- 43% of energy companies use IoT to improve customer service.
- The IoT market in agriculture is expected to reach $30 billion in 2030.
- $101.8 billion was revenue from the consumer segment and Internet of Things (IoT) devices.
- Enterprise IoT accounted for 76% of the total IoT revenue in 2022.
- $800 is the size of the market for IoT devices and technology.
IoT security statistics
As connected devices grow rapidly, address security concerns it is important for non-cohesive parenting. You have to think about what is happening in the IoT security breaking the law and taking appropriate precautions. Many organizations use it IoT security software protect against threats to their network of IoT devices.
Let’s dive into these statistics to understand the state of IoT security.
- 42% of organizations can identify vulnerable IoT devices, and only 14% replace them when detected.
- An impressive 98% of IoT users remain unencrypted and expose private and confidential information on the network.
- 32% of companies that have already adopted IoT see a lack of data security talent as their biggest challenge.
- 57% of retailers take steps to improve privacy, while 43% focus on preventing data breaches.
- 55% of companies do not require third-party IoT providers to follow security and privacy policies.
- 48% of businesses cannot detect if their IoT devices have been compromised.
Security experts believe that unsecured IoT and usage puts their organizations at risk of cyber attacks and data breaches.
- IoT security concerns will hinder growth, which can reduce IoT security spending by 80% due to lack of prioritization and implementation of best practices.
- 50% of the biggest concerns about IoT are related to the lack of standards and industry security, interoperability, and cost considerations.
- 28% of managers, on average, plan to sell IoT security within the next 12 months.
- The majority (74%) of consumers worldwide are concerned about their human rights in relation to the IoT, while 92% want to control the quality of data collected automatically.
- Hacking is seen as a major problem for 33% of these companies
- Routers account for 75% of the infected devices in the IoT, followed by connected cameras at 15%
- 76% of risk experts believe that IoT exposes them to cyber risk.
- 33% of respondents see an attack on IoT devices that could affect critical operations.
- 48% of businesses admit they fail to detect IoT security breaches in their networks.
- Threats sustained by IoT malware increased by 215.7% after 2018.
IoT growth statistics
IoT is constantly evolving and changing our lives. As the digital revolution unfolds, it’s good to measure the scale of the revolution and understand what we can expect from the IoT ecosystem in the future.
Below are the statistics that go into the growing power of the IoT.
- 67% of IoT usage occurs in North America, Western Europe, and China.
- The IoT market has grown from $100 billion in 2017 to $742 billion in 2020.
- 94% of marketers benefit from IoT and believe the benefits outweigh the inherent risks.
- The IoT market is expected to reach $35.5 billion by 2025.
- The automotive IoT market was valued at $15.87 billion in 2015, showing a compound annual growth rate (CAGR) of 26.5% over eight years.
- 34% of brands expect the implementation of IoT solutions, which will lead to industry growth in the next decade.
The increase in the United States GDP will come through the IoT.
- IoT could generate between $4 trillion and $11 trillion in revenue by 2025.
- 40% of the global IoT value it generates will be concentrated in developing countries.
- The US is leading the way in overall IoT deployment, with 44% of companies already adopting the technology. The United Kingdom follows with 41% and Germany with 35%.
- The number of smart devices in the world is expected to grow by 780 million from 325 million in 2016, according to statistics of smart devices.
- 16% of business leaders initially expected a significant increase in revenue from their IoT investments, and 32% eventually achieved this.
- Companies could invest up to $15 trillion in IoT by 2025, creating huge benefits for their businesses.
- Smart cities make up 23% of existing IoT projects.
- 58% of financial managers say they have advanced IoT strategies, while financial services companies are leading the way in IoT deployments.
IoT device statistics
IoT devices from smart thermostats that control the temperature of our homes to smart wearables that monitor our health. They transform our world into an interconnected one, making our lives more efficient, safer, and easier.
As the use of IoT devices expands, our interactions with the world around us are reimagined in surprising ways. Below are the statistics that prove this.
- The growing market for IoT devices is expected to reach $1.4 trillion by 2027.
- Hardware represents 30% of the total cost of IoT technology.
- 63% of consumers find connected devices “scary.”
- The average smart home can experience more than 12,000 threats per week.
- The number of active IoT devices will exceed 25.4 billion by 2030.
- 85% of respondents say they will fund IoT projects, and 30% indicate they would not live without smart devices.
- 56% of respondents say they don’t keep IoT devices, and 64% don’t keep IoT records.
- 63% of consumers find connected devices related to data collection methods.
- 63% of all IoT devices installed in 2020 were in the consumer electronics sector.
- Only 35% of IoT projects aim to increase revenue, while 24% also focus on improving overall security.
- 77% of field managers believe that IoT technology will transform offices into smart workplaces.
79.4 zettabytes (ZB)
data will be generated by Internet of Things devices in 2025.
- There are currently 31 billion IoT devices worldwide.
- More than 97% of organizations face difficulties in getting value from IoT.
- 90% of all new cars by 2040 will be connected via IoT.
IoT in medical statistics
IoT in healthcare enables medical devices to collect data and use analytics to provide better patient care. Some IoT devices can monitor patient needs and track the location of medical equipment in real time.
Despite security concerns, the intersection of IoT and healthcare paves the way for reducing healthcare costs, increasing drug efficiency, and improving patient experiences. With IoT, a new era of accurate and sustainable medicine has arrived, and it is gradually improving patient care. The statistics below support the move with data and facts.
- The global medical IoT market is expected to reach $14 billion by 2024.
- As the demand for real-time monitoring increases, the medical IoT industry is said to be growing at a CAGR of 19.9% over five years.
- 55% of respondents in the healthcare industry reported IoT adoption.
of medical imaging devices operate on unmanned systems, increasing security concerns.
Source: Palo Alto Networks
- 41% of users indicate their willingness to allow their health data to be used for research on the relationship between heart and exercise.
- In 2020, the number of IoT devices in households reached 12.86 billion, with 40% of IoT devices used mainly in the medical field.
Industrial IoT statistics
The Industrial Internet of Things (IIoT) has driven digital transformation in various industries. It can improve performance, productivity, and safety while significantly reducing costs. Below are some IIoT statistics that help understand the rapid adoption of IIoT in the market.
- 80% of surveyed organizations that have implemented IoT are experiencing positive results.
manufacturers believe that IoT is necessary to revolutionize their industrial operations.
- The industrial sector is expected to witness 80% adoption of IoT technology.
- Cost savings is the primary revenue driver for 54% of enterprise IoT projects.
- The industry will have more than 130 million IoT devices than the figures before 2020.
- In the manufacturing industry, 64% of jobs in energy and power and 62% of aerospace and defense systems rely on IIoT services.
To a connected and secure digital environment
IoT has been revolutionizing many fields. It brings growth, innovation, and many opportunities to improve performance.
Although the IoT projects an image of unparalleled potential, it attracts certain security and privacy challenges. Such challenges emphasize the need for robust protocols and data management systems.
The statistics above help to realize the true potential of IoT in the market. Let them be a platform to make an informed decision in the ongoing IoT scenario.
Find out more about data management suites finding the best way to manage the organization’s data.