14 Jan Internet of Things Statistics
The Internet of Things (IoT) has become a buzz word over the past 7 years and is building pace on a daily basis with more and more connected smart devices for the home and industry. Is this trend going to slow down at any point? Let’s explore the latest statistics as they stand in 2021.
Firstly it’s important to understand that IoT statistics change depending upon whom you ask & what search terms you put into your chosen search engine – we’ve taken a broad view over all areas of IoT and undertaken extensive research to bring what is an accepted industry average.
- The Internet of Things global market is thought we be worth an estimated 1.8T ($) by the end of 2021
- By 2025 Wifi enabled services are expected to cover 95% of the entire planet
- There’s an expected 75 billion IoT devices connected by 2025
- There are approximately 26.5 billion IoT devices active in 2021
- 130 brand new devices connect to the internet every second
- 42% of IoT devices are currently used in business and manufacturing
- 2016 the spend on IoT was around 740 billion ($)
- By 2020 global spend on IoT smart devices will exceed 1.3 trillion ($)
- 94% of businesses see a ROI on their IoT investment
- Under 1% of items that could be connected to the internet currently are, this is due to change significantly over the next 10 years to over 40%
In accordance to Statista the quantity of smart devices installed globally will be as follows (in billions)
In conclusion, IoTech Ltd are at the forefront of these changes and facilitating the means for these future IoT statistics to become a reality by helping companies achieve their full potential. Importantly, The Internet of Things or IIOT (Industrial Internet of Things) is responsible for the largest economic growth in human history.
Look out for new emerging technologies in the following:
- IoA – The Internet of Agriculture
- IoF – The Internet of Farming
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