Internet of Things statistics for 2020 – Taking things apart

IoT statistics - Feature image

The last few years have seen the Internet of Things vision grow from a theoretical concept to a major priority for many organizations. As companies integrate IoT devices into their network infrastructures, they’re looking for new ways to use and manage the data they collect.

Since IoT-enabled devices can connect to a broader network, they can achieve extensive functionality. However, that brings a whole new challenge: securing all that data. An IoT connection – if it’s not properly secured – can have dire consequences.

In this article on IoT statistics, we’ll cover a wide variety of topics, including examining the latest trends, analyzing forecast figures, and giving IoT devices a definition.

Key IoT statistics

  • As of 2019, more than 26.66 billion IoT devices have been active.
  • It’s estimated that global IoT spending will total $15 trillion in the six-year period between 2019 and 2025.
  • It’s estimated that the number of active IoT devices will surpass 30.73 billion in 2020.
  • By 2025, there will be 152,200 IoT devices connecting to the internet per minute.
  • IoT solutions have the potential to generate $4-11 trillion in economic value by 2025.
  • 83% of organizations that have introduced IoT technology have improved their efficiency by doing so.

Size of the IoT market

1. Statista forecasts that the global IoT market will grow to a value of $212 billion by the end of 2019.

(Statista)

Since the beginnings of this industry, the Internet of Things market has been on an exciting journey. The industry reached $100 billion in market revenue in 2017,  and if it follows forecasts, that figure will grow to around $1.6 trillion by 2025.

The growth of IoT statistics shows that, at the moment, the market has a compound annual growth rate (CAGR) of 19.92%. Key factors in this increase include the security and scalability of all newly connected devices and their ability to be monitored on a large scale.


2. Hardware currently accounts for around 30% of the market’s value.

(McKinsey Digital)

The most-notable changes in this dynamic industry will emerge around new software that allows for IoT connection between devices.

Hardware still accounts for 30% of the total value of IoT technology, although trends suggest its global market value is decreasing.


3. Every second, 127 devices hook up to the internet for the first time.

(McKinsey Digital)

Consumers are more connected than ever. Indeed, smart home statistics show that there are plenty of reasons to get excited about what the future holds for IoT.

You may have been asking that all-important question: how many IoT devices are there? Well, remember that in 2019, around 127 new devices per second connect to the web in 2019. As you’d expect, this astounding stat is led by the more-advanced parts of the world, which have widespread internet accessibility.


4.The number of cellular IoT connections is expected to reach 3.5 billion in 2023.

(Forbes)

Thanks to the combination of AI, machine learning, and real-time data processes delivered by IoT solutions, the number of cellular IoT devices is set to grow substantially. According to current statistics on IoT devices, the number will surpass 3.5 billion by 2023, with Asia leading the charge.

Indeed, experts predict that North East Asia alone will be home to more than 2.2 billion devices by 2023.


5. Smart factories in North America are expected to be worth more than $500 billion in 2022.

(Forbes)

IoT forecasts by many experts show that the North American IoT market is set for an extended period of growth, mainly due to the development of smart factories. They are set to revolutionize the manufacturing process and increase productivity substantially.

The potential of smart factories has been reflected in statistics on IoT devices in the United States. These show that, once again, the world’s biggest economy is once again leading the way in this field. Consumer electronics and transportation are the two sectors leading the charge. In 2022, the CAGR is expected to surpass 13.25%, sending the value of this sector past $500 billion.


6. Companies could invest a total of up to $15 trillion in IoT by 2025.

(Gigabit)

It’s old news that many companies have already taken not of IoT devices’ potential to add value to their businesses. IoT statistics show that many clothing manufacturers, healthcare providers, and municipalities have already chosen to invest in this technology.


7. The industrial IoT market size is predicted to reach $136 billion by 2021.

(Allied Market Research)

Considering that IoT is changing not only companies, but industries and even countries, it comes as no surprise that the industrial expansion of IoT will bring with it an increase in the number of IoT devices by 2020 and beyond.

If IoT growth statistics prove to be accurate, this industry will surely shake up the foundations of industrial production around the globe. For instance, IoT devices can change the way heavy machinery and monitoring devices communicate with each other, which can drastically improve efficiency.


Healthcare IoT statistics

8. 87% of healthcare organizations will have started using IoT technology in some way by 2019.

(i-Scoop)

The IoT market size is growing at a particularly satisfying rate in the healthcare industry. This makes sense; introducing remote monitoring and telemonitoring can greatly improve the quality and speed of healthcare.

IoT is also useful in creating monitoring and tracking hardware and applications that can significantly improve the way patients keep track of their own health. IoT healthcare statistics are yet to reflect these benefits as the technology itself is still fairly new.


9. The global IoT healthcare market is expected to be worth $158 billion in 2022.

(MarketWatch)

According to the most-recent IoT healthcare devices statistics, the CAGR of IoT in the healthcare industry is estimated to be 20% since 2015, when the industry was worth $14.28 billion. These IoT facts and metrics are driven by an increase in demand, the wider use of cloud platforms, and a rise in the number of mobile apps.

10. Forbes estimates 646 million IoT devices will be used in hospitals, clinics, and medical offices by 2020.

(Forbes)

Even though these IoT healthcare device statistics sound encouraging and the healthcare industry will surely benefit from the proliferation of IoT technology, the sheer amount of data generated every day could cause problems.

In an ioT-powered industry, the volume of medical data will double every 73 days. That means implementing IoT security measures and finding appropriate storage solutions will soon become a top priority.


11. According to Grand View Research, the size of the global IoT healthcare market is expected to reach $534.3 billion by 2025.

(Grand View Research)

With the IoT market size rapidly expanding amid an increasing need for real-time data monitoring, the IoT healthcare industry is expected to grow at a CAGR of 19.9% over the next five years.


12. In July 2017, Allure became the first skilled nursing facility to implement EarlySense, a remote monitoring system that tracks patients’ vital signs.

(Allure Group)

Early IoT investments have proven to be fruitful. Brooklyn-based nursing facility Allure was one of the first to introduce EarlySense, technology that tracks vital signs and movements thanks to sensors placed under mattresses and pillows.

Six months later, the clinic’s IoT in healthcare statistics showed incredible results. There was a 45% decrease in patient falls, a 60% reduction in bedsores, and an 80% decrease in code blue events.


13. The introduction of the FreeStyle Libre Smart CGM available on prescription will increase the percentage of diabetes patients who have access to CGM devices from 3-5% to 20-25%.

(Pharma Times)

There will be a huge increase in the number of IoT connected devices in 2020, and this might be one of the best ones to arrive on the scene. The FreeStyle Libre Smart CGM sends diabetes patients’ data to an app on iPhone, Android, or Apple Watch devices. This makes the monitoring of glucose levels much more efficient.

In addition, the FreeStyle Libre Smart CGM allows remote monitoring by caregivers, just as statistics and predictions on IoT forecast several years ago. These devices can be used not only among seniors, but it can include help parents of diabetic children, who cannot continuously monitor their children’s glucose levels any other way.


14. In 2016, Roche released its Bluetooth- and IoT-enabled coagulation system, which lets patients check how quickly their blood clots.

(CoaguChek)

When we looked into statistics for IoT healthcare, we noticed that this device was the first of its kind that allowed patients to monitor how quickly their blood clots. This, in turn, gives them a better chance of fighting the risk of stroke or bleeding.

Anticoagulated patients can use the device to self-test their blood, send it to their healthcare providers, and reduce the number of times they visit the clinic. Moreover, this device allows both parties to add comments on recent results and reminds the patient to test themselves. It also flags results in relation to previously set targets.


15. In 2018, Apple launched a new ‘Movement Disorder API’ IoT device, which allows Apple Watches to monitor Parkinson’s Disease symptoms.

(9To5Mac)

Usually, symptoms are monitored by a physician via diagnostic tests. To help this process along, patients are encouraged to keep a diary of their symptoms.

This API automates the process and provides a continuous stream of results. The Apple Watch monitors daily, hourly, and even minute-by-minute breakdowns of symptom fluctuation and presents them in a graph that gets sent out to designated caregivers. IoT medical devices statistics show that this technology has had incredible results with arthritis and epilepsy patients, too.

The security of IoT devices

16. Annual spending on IoT security measures will increase to $631 million by 2021.

(Forbes)

As the IoT market grows, so does the importance of securing and integrating IoT networks. From $91 million in 2016, annual global spending on security measures for IoT networks is set to soar to $631 million by 2021, with a CAGR of 21.38%. Technology growth statistics assure us that IoT solutions are headed for a massive boom within the next decade.


17. IoT devices are typically attacked within five minutes of connecting to the internet.

(NETSCOUT Threat Intelligence Report)

According to IoT-based attacks statistics for 2019, the average IoT device gets attacked just five minutes after it goes live. The explosion in popularity of smart devices was expected to lead to an increase in cyberattacks, and unfortunately this has proven to be true.


18.In 75% of cases, routers act as the gateway for IoT attacks.

(Symantec)

It seems that the majority of cyberattacks on Internet of Things devices are directed at network routers. These are the favored targets of many cybercriminals, with an average of 5,200 attacks per router per month.

What is the reason for this? The answer is simple – many IoT devices out there are five years or older, which means they don’t have the latest security updates and, in many cases, are still using their original password. According to IoT statistics and challenges forecast for this industry, the most successfully used router password among cyber attackers in 2018 was “123456.” Coming in second place was an even less-secure option – no password at all – which accounted for 17% of all IoT attacks.


19. Cyberattacks on IoT devices skyrocketed in 2018, and in 2019 they’ve surged over 300%.

(Forbes)

Malware attacks are now affecting a huge number of IoT devices. According to Forbes, the number of malware incidents involving IoT devices has grown from 813 million last year to a staggering 2.9 billion already in 2019.


20. 74% of global consumers worry about losing their civil rights because of IoT.

(EIU)

Another worrying Internet of Things trend comes from an Economic Intelligence Unit survey. These IoT statistics on 1,600 consumers across eight countries show that 92% of them want to control the type of personal information that is automatically collected about them.

A slightly lower number of consumers would like to see fines for companies that choose to violate consumers’ privacy. Losing civil rights in this automated process remains one of their main concerns.


21. 55% of companies believe third-party IoT providers should have to comply with IoT security and privacy regulations.

(SafeNet)

More than half of correspondents in this Gemalto survey believe third parties that have access to their confidential information should have to comply with security and privacy regulations. This shows that people are getting more serious about protecting their IoT devices in 2019.


22. 48% of businesses admit they are unable to detect IoT security breaches on their network.

(Gemalto)

IoT security statistics have highlighted just how big a concern this is; nearly half of businesses that use IoT can’t identify when their network has been compromised. If more Internet of Things companies decide to invest in proper security members, we can only hope this number will decrease.

But the buck doesn’t just stop with the companies that are affected; many IoT vendors have failed to develop devices with security software built-in. One important reason for this is because there aren’t yet any security standards for IoT.


Industrial usage of IoT devices

23. The primary goal of enterprise IoT deployment varies by country. For example, 23% of Chinese companies that use it do so to increase their competitiveness.

(Forbes)

The top IoT projects that involve smart cities and connected industries are most likely to be located in Europe, while connected health is thriving in the Americas. In Chinese, though, enterprises are adopting IoT technology mainly to increase their competitiveness.

Some of the most-recent IoT company statistics – as represented on the graph below – break down goals by country and highlight the top IoT adoption drivers:


24. 58% of manufacturers say IoT is a strategic necessity for digitally transforming industrial operations.

(IDC)

It seems there’s no limit to what a clever IoT connection can achieve for certain businesses. As such, it’s no wonder that IoT usage statistics reflect how important organizations perceive this technology to be, with nearly three-fifths saying it is necessary in digitizing their operations and improving efficiency.


25. Nine in 10 senior executives across tech-related industries say IoT has become critical to some or all lines of their business in 2018.

(Forbes)

If you thought there weren’t that many IoT devices currently in use in business, think again. Senior businesspeople in the technology, media, and telecommunications industries are using IoT technology to build digital trust control into their already-established programs. Having a strongly interconnected and automated business network is becoming increasingly critical, as the impact of IoT statistics results show.


26. In 2018, 57% of businesses had adopted IoT in some way. By the end of 2019, it’s expected that figure will hit 85%.

(Aruba Research Report)

IoT technology is going from strength to strength, and it has caught the attention of business executives around the globe. Basically every Internet of Things market forecast sets sky-high expectations are sky-high, and it seems like 2019 could mark the tipping point when this technology becomes truly mainstream.

Judging from IoT statistics for 2019, these numbers will only grow in the years to come.


27. 79% of retail organizations are expected to use IoT by the end of 2019, up from 49% in 2017.

(Viewneo)

IoT solutions have proven useful in many industries, and the most recent boom seems to have taken place in the retail industry. It all started with barcode readers. These devices have made data management much easier, since they can analyze and adjust inventory using real-time data.

This trend started in 2014, and IoT statistics show that usage has nearly doubled in the five years since.


28. Only 42% of US municipalities have turned to IoT devices, while nearly half of government IT departments are having issues with IoT technology.

(Aruba Networks)

It was expected that the companies that would lead the adoption of new technology like IoT would be from digital industries like technology and communications. That has been the case across the US, with the government lagging behind when it comes to adopting IoT technology.

Education IoT statistics stress that the main reason behind this seems to be a lack of information among senior employees, many of who, have little or no knowledge about IoT technology.


29. 83% of organizations that employ IoT technology have reported a significant increase in business efficiency.

(Aruba Research Report)

Leaders of industrial organizations have noticed a significant increase in efficiency in their line of business upon using IoT. These changes involve better visibility across the organization and easier expansion into other markets.

IoT brand statistics show that around 34% of brands are hoping to see the whole industry implement these IoT solutions, which would bring an increase in industry growth over the following decade.


IoT’s impact on the global economy

30. IoT has the potential to generate $4-11 trillion in economic value by 2025.

(CDN Report)

The Internet of Things’ economic impact seems to be strongest in the industrial sector. The greatest contribution, which is expected to be between $1.2 to $3.7 trillion, will come from factories.

If we’re to believe IoT statistics and forecasts about the technology’s future, the rest of the economic impact will come from smart cities in Europe, connected healthcare in Americas, custom production environments, and usage in homes and offices around the globe.


31. A 10% increase in investment in machine-to-machine interactions would boost the US GDP by $2.3 trillion over a 15-year period.

(Frontier Economics)

Frontier Economic’s IoT forecast predicts that over the next 30 years, IoT technology will result in a 10% increase in the United States’ GDP.

This should come as no surprise, since IoT data platforms statistics show that IoT solutions are already making waves across most industries. The financial gains are yet to be fully seen, but the agriculture, energy, and manufacturing industries are all benefiting from the implementation of IoT solutions.


32. Around 40% of the value IoT generates will come from developing countries.

(McKinsey)

While IoT technology will generate the most value in advanced economies, it still has plenty to offer developing countries. If we choose to be optimistic about these metrics, we’ll see that around 40% of the technology’s global value will be accrued in the developing economies.


33. Several studies suggest that many manual workers will lose their jobs by 2030 due to automation.

(Mckinsey Institute)

In a time marked by rapid advances in automation and the digital transformation of whole industries, many fear they will lose their jobs by 2030. IoT daily statistics show that this is a well-founded fear, especially among physical laborers.

On the other hand, the forecast is good for those who work in management, applied expertise, or social interactions. It seems their working conditions will be improved by automation over the next decade.


IoT brands and growth

34. The US is leading the way in deploying full-scale IoT operations, with 44% of companies now adopting the technology.

(Capgemini)

The US is followed by the UK, where 41% of companies have deployed IoT technology, and Germany, with 35%. This IoT trend technology is mainly attributed to significant venture capital investment. Around two-thirds of IoT startups founded between 2012 and 2017 were founded and based in the US.


35.Samsung is the top patent holder in the IoT industry with 820 patents to its name.

(Forbes)

According to most-recent statistics for smartphone IoT devices, Samsung has the greatest number of IoT patents in the consumer electronics sector. The other top companies are LG, with 524 patents, followed by Huawei (490), Qualcomm (485), and Sony (479).

Experts see this competitiveness as an excellent drive of IoT growth, since there is no single group or small collection of companies holding the bulk of patents.


36. In 2025, as many as 152,200 IoT devices will be connecting to the internet every minute.

(Forbes)

According to Vernon Turner, vice president of IDC, there will be more than 80 billion devices connected to the internet by 2025. IoT mobile statistics show that every minute, around 152,000 IoT devices will connect to the internet.


37. 14% of US consumers will purchase an article of smart clothing by 2020.

(Berkeley)

By the time 2020 comes knocking, nearly 14% of all US consumers will own at least one piece of smart clothing.

Smart shoes, bras, and shorts can help athletes improve their game and track their muscle activity. IoT statistics for 2018 forecast that demand for smart clothing would increase in 2019 and solidify by the end of 2020.

Other items, like smart jackets, allow us to interact with our personal devices via Bluetooth, so it’s expected that items with this kind of IoT technology will bloom in 2020.


38. At present, only 0.06% of devices that could be connected to the Internet actually are.

(iProperty Management)

The growth of IoT technology has been apparent over the past decade. However, if a brief look at IoT devices statistics shows us that only 0.06% of devices that could be connected to the internet currently are.

The one thing we can be certain of is that over the next couple of years, these devices will make our lives more accessible and convenient.


39. There are over 26 billion IoT-connected devices at the moment.

(iProperty Management)

This number is projected to surpass 75 billion by the end of 2025. While that’s good news in general, these numbers have resulted in troubling IoT statistics about malware. Unfortunately, the fact that these devices are becoming more and more popular makes it difficult for security measures to follow, which means we’ll have even more to worry about over the next decade.

IoT forecasts show that 67% of these devices will be found in China, North America, and Western Europe.


40. Consumer IoT spending will reach $745 billion in 2019.

(IDC)

IoT big data statistics show that this is a 15.4% increase from the $646 billion spent in 2018. What’s more, forecasts suggest this figure will surpass the $1 trillion mark in 2022.


Final thoughts

We could keep listing remarkable IoT statistics for days. But for the moment, we think these should be enough to give you an impression of the impact this technology is having.

The re-emergence of decades-old ideas such as AI has suddenly disrupted the traditional industrial norms for the better. It has kickstarted a digital revolution that seemed like a fantasy way back in the days of sci-fi writers like Julies Verne and Arthur Conan Doyle.

FAQ

How many IoT devices are in 2019?

According to Statista, there are currently over 26 billion IoT-connected devices worldwide.

How many things are predicted to be interconnected on the internet by 2020?

It’s estimated that the number of active IoT devices will surpass 30.73 billion in 2020.

How much does IoT cost?

Between 2004 and 2014, the average cost of IoT sensors dropped from $1.30 to 0.50. If predictions are accurate, the price will shrink an additional 37% to $0.38 by 2020.

What are examples of IoT devices?

IoT devices are divided into three separate groups: consumer, enterprise, and industrial. Consumer IoT devices include smart TVs, smart speakers, toys, wearables, and smart appliances. Industrial devices include commercial security systems, smart city technologies, smart meters, or any device used to monitor traffic or weather conditions. As for enterprise IoT devices, these include smart lighting, smart thermostats, and sensors used by companies.

How do IoT devices communicate?

Industrial IoT devices use local networks based on any of many different technologies. These smart devices transmit data and communicate over the internet. As for commercial IoT devices, they usually communicate via either Bluetooth or Ethernet (wired or wireless), and they usually communicate only with local devices.

Is Internet of Things the future?

IoT statistics show that, yes, this technology will play a major role in our future. IoT is all about extending the power of the internet beyond computers and our mobile devices to a much wider range of things for a multitude of purposes.

Do IoT devices have IP addresses?

Only commercial IoT devices don’t have to have an IP address, since they communicate over a short range, usually via Bluetooth. However, IoT is all about connecting devices to the internet, so they have to follow Internet protocols. As such, IoT devices in your home do have their own IP addresses.

Sources