Posted by Brittany

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The giant ecosystem that is the Internet of Things is growing, shifting and consolidating rapidly.  IoT devices are everywhere, from smart toothbrushes to smart watches and voice assistants to slow cookers, the IoT is all around us. We all know that IoT can change our lives and make our daily lives and businesses more efficient, but what else should we know about IoT? We did some digging and found IoT statistics that help you understand this growing market and the impact IoT has on the future. These IoT stats cover the smart home market, Industrial IoT, health care and more. 

Here are 20 IoT statistics that will help you wrap your head around these rising trends.

IoT Statistics for 2019 & Beyond

1. According to Statista, the global smart home market is forecasted to reach almost $60 billion in 2020. Click to tweet

2. By 2020, Gartner estimates internet-connected things will outnumber humans 4-to-1, creating new dynamics for marketing, sales and customer service.

3. According to IoT Analytics, there are more than 17 billion connected devices worldwide. The number of IoT devices that are active is forecasted to grow to 10 billion by 2020 and 22 billion by 2025. 

4. Bain predicts IoT and analytics revenue will grow to $520 billion in 2021. 

IoT Statistics

5. Also according to IoT Analytics, the global IoT market reached $151 billion in 2018 and is forecasted to grow to $1,567B by 2025. 

6. IDC also estimates the economic value of IoT to be around $1.46 trillion in 2020. 

7. According to Statista, worldwide spending on IoT security is expected to reach $3.1 billion in 2021. 

IoT Stats Around Devices & Connectivity

8. By 2024, Ericsson reports that NB-IT and Cat-M technologies will account for close to 45 percent of cellular IoT connections in 2024. 

9. By 2030, MTA predicts that there will be 15 connected devices per person. 

10. Statista estimates the number of LPWAN connected devices to reach 3.44 billion by 2021. 

11. The number of connected devices is expected to reach 75 billion in 2025

12. According to IDC, Wi-Fi and Bluetooth low energy (BLE) are top contenders as preferred IoT connectivity mechanisms. However, long-range, wide-area networks (LoRaWAN) and narrowband IoT (NB-IoT) are equally poised to give a tough fight to Wi-Fi and BLE vendors.

What's Next in IoT for:

Industrial IoT

13. Accenture estimates the Industrial Internet of Things (IIoT) could add $14.2 trillion to the global economy by 2030. 

14. Markets and Markets reports that IoT in the Smart Cities market is projected to grow from $79.5 billion to $219.6 billion, at a CAGR of 22.5% from 2018 to 2023. 

15. According to Cisco, M2M network connections will grow globally from just under 1 billion in 2017 to 3.9 billion in 2022.

IoT & Logistics

16. IDC forecasts global spending to reach $745 billion by the end of the year - an increase of 15.4% from what was spent in 2018. Further, IDC believes spending will surpass the $1 trillion mark by 2022.

17. IoT Analytics expects manufacturing to be the biggest IoT platform segment, reaching $438 million by 2021.

18. Real Time Location System market (RTLS) is expected to grow from USD 3.19 billion in 2018 to reach USD 8.79 billion by 2023. (Source) 

Healthcare in IoT

19. Forbes estimates 161 million devices will be used in hospitals, clinics and medical offices by 2020. 

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

With the IoT market rapidly evolving, it is hard to keep up with the latest news and trends. These IoT stats help conceptualize the enormous growth in the Internet of Things. IoT statistics are constantly evolving, so check back soon for updated IoT stats. 

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Topics: Internet of Things Iot