30+ Key Internet of Things (IoT) Statistics – 2023

The Internet of Things (IoT) is making quantum leaps in the direction of the longer term. The business is quickly increasing because the markets’ wants develop past our wildest estimations and forecasts. Powered by the most recent sensors, chopping-edge software program, large knowledge, AI (synthetic intelligence), and ML (machine studying), IoT will proceed to develop.

IoT additionally performs a significant function within the digitization of companies. With the pandemic pushing companies into a totally digital setting, it’s logical to imagine that IoT will explode in years to return. Residential IoT use instances are additionally rising. In reality, the projections inform us that the quantity of homes with good residence methods will attain 400 million by 2025. 

The IoT stats are compelling, and so they point out that IoT is unquestionably right here to remain!

General details about IoT

There are a quantity of KPIs (key efficiency indicators) that you could think about whenever you need to assess a sure business or a market. IoT has been increasing and rising for fairly a while now. But how can we put that development into context? How do we all know if this can be a big market with an amazing future forward of it?

From our private expertise, one of the simplest ways to do that is to try to see how a lot cash there’s within the IoT sport. Are each companies and people occupied with it? How many IoT gadgets are there? Let’s discover solutions to those questions.

1. Worldwide spending on IoT will attain $1.1 trillion by 2023.

The international COVID-19 pandemic has slowed down the speedy development of the IoT sector. In 2020, worldwide spending on IoT expertise reached $749 billion. The sector is continuous to develop however not on the tempo forecasted in 2019.

Nevertheless, even with the slowdown, international spending on IoT expertise will attain $1.1 trillion by 2023, which is a superb outlook for an business that relies on chips and is presently going through a worldwide chip scarcity.

_{(Source: Statista.com)}

2. There might be over 400 million households with good residence methods by 2025.

One of probably the most partaking methods to trace the recognition of IoT expertise is to try the adoption charges. Projections inform us that over 400 million households can have at the very least one good residence system put in by 2025.

This development will impression shopper spending on each good residence providers and merchandise. According to forecasts, this spending will exceed $170 billion by 2025.

_{(Source: Statista.com)}

3. The international IoT market dimension is roughly $389 billion.

The complete Internet of Things (IoT) market worldwide was price round 389 billion U.S. {dollars} in 2020 and is forecasted to rise to a couple of trillion U.S. {dollars} in 2030, greater than doubling its income within the subsequent ten years. Also, the quantity of IoT-related gadgets worldwide is forecast to triple throughout this time.

_{(Source: Statista.com)}

4. The annual income of shopper web and media gadgets will attain $203.1 billion by 2030.

The annual income of shopper web and media gadgets was beforehand $68.7 billion in 2019. According to present projections, this income will develop as much as $203.1 billion by 2030. That’s nearly triple the 2019 income.

Statistics level out that IoT-related automobile income will observe the identical development. It will proceed to point out a big improve to achieve most ranges by 2030.

_{(Source: Statista.com)}

5. The quantity of IoT related gadgets will attain 15.9 billion by 2030.

If we check out the forecast for the quantity of IoT-related gadgets by vertical from 2019 to 2030, it turns into clear that the shopper sector goes to outperform all others.

By 2030, the quantity of shopper IoT-related gadgets will attain a whopping $15.9 billion, which is greater than thrice greater than 2019 ranges.

_{(Source: Statista.com)}

Industrial and shopper IoT segments and their efficiency

The world of IoT will be divided into two large segments: industrial and shopper. Tracking the KPIs of each, utilizing markers reminiscent of market dimension, development, and IoT tech adoption charges can inform us lots concerning the state of IoT. 

Let’s look at probably the most related statistics depicting the state of industrial and shopper IoT segments.

6. The Industrial IoT market dimension reached $77.3 billion in 2020.

IoT expertise has discovered use instances throughout verticals which have mirrored the market dimension of industrial IoT. In 2020, the commercial IoT market reached $77.3 billion.

_{(Source: Statista.com)}

7. Approximately 70% of new automobiles worldwide might be on-line by 2023.

Every day, increasingly more automobiles are related to the web. You’ve most likely observed this your self. But, do you know that by 2023, 70% of gentle-responsibility automobiles and vans might be on-line? That’s in lower than two years!

This applies to the worldwide market. But if we slender it right down to the US market, 90% of new automobiles might be web-related.

_{(Source: Statista.com)}

8. Shipments of web-related automobiles will attain 76 million models by 2023.

How many on-line automobiles is 70%? By 2023, automobile producers will ship out 76 million models of web-related gentle-responsibility automobiles and vans.

_{(Source: Statista.com)}

9. Global income for good metropolis tech, providers, and merchandise reached $129 billion in 2021.

IoT expertise can be utilized in civil tasks. It’s most frequently seen in numerous good metropolis initiatives. Global income for good metropolis tech, providers, and merchandise reached $129 billion in 2021.

This income comes from the gross sales of info and knowledge applied sciences to cities. These applied sciences and merchandise discover their use case within the public metropolis setting. Keep in thoughts that income additionally consists of corporations that promote connectivity applied sciences, together with cloud computing. This income doesn’t embody earnings generated by IoT residence product gross sales. 

_{(Source: Statista.com)}

10. Consumer spending on good residence tech is anticipated to renew pre-pandemic development in 2021.

Consumer spending on good residence-associated gadgets globally exhibits development. However, if we take a more in-depth have a look at market efficiency between 2019 and 2025, we are able to see that development took successful in 2020. 

In 2020, your complete world was hit by the COVID-19 pandemic, which triggered an financial recession. The excellent news is that shopper spending on good residence tech is anticipated to renew to pre-pandemic development ranges in 2021.

_{(Source: Statista.com)}

11. The international agricultural IoT market worth reached $4.02 billion in 2021.

IoT expertise isn’t just reserved for houses, manufacturing verticals, and civil engineering tasks. It’s additionally used within the agricultural business. In reality, the worldwide agricultural IoT market worth reached $4.02 billion in 2021.

Forecasts inform us that this market will proceed to develop. By 2025, it’s anticipated to double its worth and attain $7 billion, because of the “smart farming” motion. All international agricultural IoT sub-markets will observe the identical developments, together with Micro-farming Solutions, GPS Services & Field Mapping Services, Agricultural Monitoring Services, Supply Chain & Inventory Management Solutions, and Agricultural Management Platforms.

_{(Source: Statista.com)}

12. The quantity of brief-vary IoT gadgets reached 10.7 billion in 2020 globally.

IoT gadgets that use smartphones and routers as non permanent gateways to the web reached 10.7 billion worldwide in 2020. Forecasts inform us that these numbers will attain 20.6 billion by 2026 in comparison with the extensive-space IoT gadgets, which amounted to 1.9 million in 2020 and are forecasted to achieve 6.3 million by 2026. 

_{(Source: Statista.com)}

13. The income from IoT sensors is projected to achieve $43 billion by 2025.

The dimension of the IoT sensors market is projected to develop exponentially. In 2019, this income was capped at $11.9 billion. However, the earnings from IoT sensors worldwide is projected to achieve $43 billion by 2025, which is greater than 300% development. 

_{(Source: Statista.com)}

14. Worldwide income of authorities IoT endpoint electronics and communications will attain $17.4 billion in 2021.

Governments worldwide have begun utilizing IoT endpoint electronics and communications. Their efforts to implement IoT tech resulted in $14.7 billion in income in 2020. Governments will proceed to undertake IoT applied sciences, and income will improve to $17.4 billion by 2021.

_{(Source: Statista.com)}

15. The knowledge quantity of IoT connections will attain 79.4 zettabytes by 2025.

The enlargement of IoT tech needed to look ahead to higher web connections. Today, optics and the most recent tech options in communications allow seamless IoT implementations. The knowledge quantity generated worldwide by IoT gadgets is gigantic, and it’s forecast to achieve a staggering 79.4 zettabytes (ZBs) by 2025.

_{(Source: Statista.com)}

16. The quantity of IoT related gadgets will attain 30.9 billion by 2025.

We can assess your complete IoT business and implementation charges by merely accounting for all IoT gadgets with an energetic connection. In 2021, for example, there have been 13.8 billion IoT gadgets on-line. However, the projections inform us that this quantity will leap to 30.9 billion related models by 2025. That’s greater than a 100% improve!

_{(Source: Statista.com)}

17. The rising quantity of IoT connections proclaims speedy development of income from the IoT market.

IoT connections are quickly outnumbering non-IoT connections. IoT encompasses good residence options, IoT tools throughout verticals, and related automobiles, whereas non-IoT connections seek advice from desktop computer systems, laptops, and smartphones. 

The quantity of non-IoT connections is projected to achieve 10 billion models by 2025. This is thrice fewer than IoT machine connections projected for a similar 12 months. This results in just one conclusion – that income from the IoT market will present appreciable development.

_{(Source: Statista.com)}

IoT connections and 5G IoT market share statistics

If you aren’t deeply concerned with the IoT business or a vertical that relies on IoT applied sciences, you might be most likely unfamiliar with on-line IoT gadgets and their market shares by areas and verticals.

If you need to study which business closely relies on IoT and which area leads by the quantity of related IoT gadgets, all it’s a must to do is scroll down!

18. The quantity of related IoT gadgets utilizing mobile expertise reached 2 billion in 2021.

The quantity of related IoT gadgets utilizing mobile expertise is consistently rising. More exactly, it grew 18% 12 months-over-12 months. In 2021 we ended up with 2 billion on-line IoT gadgets powered by mobile tech.

_{(Source: Iot-analytics.com)}

19. Connected automobiles market share is projected to account for 39% of the worldwide 5G IoT market by 2023. 

The 5G IoT endpoint market is sort of numerous, however market shares inform us which sector is increasing quickly. The largest phase of the IoT endpoint market is made up of related automobiles. Forecasting tells us that related automobiles’ market share will account for 39% of your complete 5G IoT endpoint market by 2023. 

This roughly interprets to 19 million endpoints. The general 5G IoT endpoint put in base was 3.5 million in 2020. By 2023, it’s projected to develop to 49 million.

_{(Source: Statista.com)}

20. The complete put in base of IoT related gadgets will attain 30.9 billion by 2025.

The base quantity of put in IoT related gadgets is persistently rising, however it seems it’s about to undergo exponential development. In 2021, this quantity reached 13.8 billion. However, forecasts predict the quantity of IoT-related gadgets to achieve 30.9 billion by 2025, greater than two occasions development from 2021.

_{(Source: Statista.com)}

21. It took just one 12 months between 2020 and 2021 for the licensed LPWA market to steer with 54% of market share over unlicensed LPWA with a 46% share.

In 2020, the share of related IoT gadgets utilizing licensed LPWA (low-energy extensive-space) was 47%, whereas the share of on-line IoT gadgets utilizing unlicensed LPWA was 53%. One 12 months later, we’ve got the alternative scenario, with licensed LPWA main with a 54% market share over an unlicensed LPWA share of 46%.

The motive for this shift is the exponential development of NB-IoT (narrowband-web of issues) connections, which grew 75% YoY (Year over Year) in 2021. 

_{(Source: Iot-analytics.com)}

22. The quantity of 5G mobile subscriptions will attain 1.9 billion by 2024.

5G continues to broaden quickly. Some of the large gamers on this area of interest, particularly Ericsson, have an interest sooner or later improvement of the area of interest. According to Ericsson, 5G will stay the primary issue that drives the expansion of IoT sooner or later.

The quantity of 5G mobile subscriptions will attain 1.9 billion by 2024. Compared to different markets worldwide, the North American market will develop probably the most, encompassing 63% of cell subscriptions.

_{(Source: Ericsson.com)}

23. The larger China space goes to steer with 7.7 billion IoT related gadgets by 2030.

Not all areas worldwide undertake IoT tech on the identical tempo. Current developments level to the larger China space because the main area. These projections inform us that the quantity of IoT-related gadgets on this area will attain 7.7 billion by 2030.

Right behind the larger China space, we can have Europe and North America because the areas with probably the most IoT-related gadgets. 

_{(Source: Statista.com)}

24. The quantity of related IoT gadgets grew by 9% from 2020 to 2021 to achieve 12.3 billion globally.

The quantity of related IoT gadgets retains on rising. This quantity grew by 26% between 2015 to 2020 to achieve 11.3 billion models. Growth slowed down in 2020, however it’s nonetheless substantial. 

The quantity of gadgets grew by 9% to achieve 12.3 billion models in 2021. Cellular IoT now surpasses 2 billion, and the quantity of related IoT gadgets will proceed to develop to attain 27.1 billion by 2025.

_{(Source: Iot-analytics.com)}

25. The automotive sector is forecast to have a 25% share of complete mobile IoT connections globally.

Not all industries undertake IoT applied sciences on the identical fee. It seems that the automotive vertical has by far the very best adoption charges. In reality, this sector can have probably the most mobile IoT connections by 2025, accounting for a 25% share of complete mobile IoT connections globally. 

The contributing elements with probably the most impression on these developments embody the adoption of 5G cell tech and the rising reputation of autonomous automobiles. 

_{(Source: Statista.com)}

26. 100% of the worldwide inhabitants can have LPWAN protection by 2022.

LPWAN stands for low-energy, extensive-space community. These networks are nice as a result of they permit lengthy-vary communications, join massive numbers of gadgets, and cut back operational prices (low energy consumption charges).

By 2022, everybody on the planet can have LPWAN protection which can function the muse for sustainable development of the IoT sector.

_{(Source: Techjury.net)}

27. 50% of North American and European organizations use IT automation expertise.

Information expertise adoption charges in organizations throughout areas are usually not equivalent. It seems that organizations in North America and Europe are most open to it. 50% of the organizations in these areas use IT automation expertise, whereas 12% report that they plan to make use of it throughout the subsequent 12 months.

According to respondents, proper behind IT automation expertise, we’ve got Gigabit Wi-Fi networking because the second hottest IT development with IT corporations in 2021.

_{(Source: Statista.com)}

The present state of the IoT market & what does the longer term maintain?

The COVID-19 pandemic impacted nearly all verticals. Unfortunately, IoT is just not an exception. How did the pandemic impression IoT? Was there something specifically that suffered probably the most? When will the IoT sector begin recuperating? 

Scroll down to search out solutions to those questions and uncover what the longer term holds for IoT.

28. The quantity of related IoT gadgets will proceed to develop to achieve 27 billion by 2025.

The chip scarcity and the disruptions within the provide chain, all attributable to the worldwide COVID-19 pandemic, are elements that negatively have an effect on the worldwide IoT market.

However, the market seems to be extra resilient than beforehand anticipated. It will proceed to develop. In 2021 it grew by 9% and reached 12.3 billion energetic endpoints. It’s forecasted to develop constantly to achieve 25 billion energetic endpoints by 2025.

_{(Source: Iot-analytics.com)}

29. COVID-19 affected many IoT initiatives, even canceling just a few.

The IoT sector was not proof against the blow of the worldwide COVID-19 pandemic. The pandemic impacted each demand and provide throughout markets and verticals. IoT was not an exception.

The pandemic largely impacted provide by rising manufacturing occasions and disrupting provide chains. Demand slowly began returning to pre-pandemic ranges by the tip of 2020, however provide didn’t.

During 2020, we’ve seen many IoT initiatives halted and even canceled. In 2021, COVID-19 aftereffects are nonetheless shaking the foundations of IoT, primarily as a result of of the shortage of vessels, delivery containers, and port congestion.

_{(Source: Iot-analytics.com)}

30. 11% of public corporations report chip scarcity as one of the primary issues in 2021.

Chip scarcity seems to be one other issue that has negatively impacted the IoT market. In 2021, the chip scarcity is anticipated to be a issue for as much as two extra years earlier than sufficient further manufacturing capability turns into obtainable. The present scarcity is so pervasive that, of 3,000+ analyzed public corporations, 11% talked about “chip shortage” of their convention calls within the second quarter (Q2) of 2021.

_{(Source: Iot-analytics.com)}

IoT machine safety statistics

Cybersecurity considerations are as outdated as IT expertise itself. Given that IoT gadgets run on software program and hook up with the web by way of routers, there are lots of cybersecurity dangers to establish and deal with. 

Are corporations spending assets on IoT safety measures? Do cybercriminals goal IoT gadgets? What do customers take into consideration IoT and their civil rights? Here are some statistics that will help you reply these questions.

31. Spending on IoT safety reached $631 million in 2021.

A promising signal for this sector’s development is how a lot it invests into safety. The excellent news for IoT is that annual spending on IoT safety will attain $631 million in 2021. How do we all know that the market will proceed to develop and that there are consumers? 

Well, annual spending on IoT safety in 2016 was capped at $91 million. Companies will spend seven occasions extra on IoT safety in 2021 than they did in 2016.

_{(Source: Forbes.com)}

32. An common IoT machine might be attacked 5 minutes after it goes on-line.

It doesn’t take hackers and malicious scripts that lengthy to assault newly related IoT gadgets. According to NETSCOUT, it takes roughly 5 minutes for a mean IoT machine to be attacked by hackers. 

The identical supply states that this development will proceed to develop as a result of extra gadgets are sure to return on-line. Cybersecurity consultants did predict this explosion in cyberattacks. Unfortunately, the prediction proved 100% true.

_{(Source: Netscout.com)}

33. 75% of cyberattacks are carried out by way of contaminated routers.

Cybercriminals constantly work on figuring out backdoors into networks and gadgets. According to Symantec, 75% of cyberattacks are carried out by way of contaminated routers. Right behind contaminated routers, related cameras are a supply of 15% of cyberattacks.

_{(Source: Symantec-enterprise-blogs.security.com)}

34. 74% of international customers see IoT because the primary risk to their civil rights.

Global customers are nicely-knowledgeable concerning the threats that new applied sciences deliver. In reality, 74% of international customers see IoT because the primary risk to their civil rights.

According to an Economic Intelligence Unit survey, 92% of 1,600 customers throughout eight nations claimed that they need to have management over what private info is routinely collected. 

_{(Source: Impact.economist.com)}

Conclusion

IoT is already an enormous business concentrating on each B2C and B2B markets. There are many shifting items concerned, making it fairly laborious to grasp what presently takes place within the IoT business and international markets. 

That’s precisely why we’ve rigorously sourced these 34 IoT statistics that we see as a very powerful indicators of its improvement. 

Hopefully, you’ll not solely discover them fascinating, however they’ll show you how to to grasp this business and the markets that it caters to.