The Internet of Things (IoT) is increasingly permeating our lives, changing the way we work and live. The demand for IoT solutions from the business sector (B2B segment) is showing significant growth, as the implementation of such technologies can often lead to substantial cost savings and profit growth in the short term.
I have compiled a collection of interesting facts about the Internet of Things, demonstrating how promising this technological direction is, as it continues to develop rapidly.
***
1. 66% of devices are IoT in 2023. The share of devices that are IoT first reached 50% in 2019 and is still growing today. By contrast, only 9% of devices were IoT in 2010. — Zippia
2. With an estimated 15.14 connected IoT devices in 2023, the next half-decade is projected to see the number of connected devices increase by 94.3%. — Zippia
3. According to a 2021 report, the largest share of the estimated economic value of IoT worldwide by 2030 is expected to be generated through operations optimization, with 41 percent of the estimated IoT economic value originating from this use case cluster. – Statista
4. North America, with a 20% CAGR, is projected to grow at a slower pace than APAC but considerably faster than Europe (16% CAGR) until 2027. — Marketsplash
5. Custom IoT development services market is estimated at US$ 21.92 Billion in 2023, surge at a vigorous 15% CAGR during the assessment period 2023. — Future Market Insights
6. Investments in IoT platforms and middleware are expected to rise by 30%, and by 34% for infrastructure as a service (IaaS) by 2027. — Marketsplash
7. With an adoption rate of 34%, remote asset monitoring is the leading use case for IoT technology. — Marketsplash
8. North America was the largest market for IoT in healthcare, though Asia-Pacific countries are expected to experience significant growth in this area in the coming years. — Market US.
9. The most common healthcare IoT devices include IV pumps (38 percent), patient monitors (19 percent), and glucometers (7 percent). — Cynerio
10. In Germany, 91 percent of industrial/manufacturing businesses invest in “digital factories” that include IoT solutions. — PwC
11. The amount of data generated by IoT devices is expected to reach 73.1 ZB (zettabytes) by 2025. — IDC
12. Every second, 127 devices hook up to the internet for the first time. — McKinsey Digital
13. The annual revenue of consumer internet and media devices will reach $203.1 billion by 2030. — Statista
14. 67% of IoT usage takes place in North America, Western Europe, and China. — G2
15. 58% of manufacturers believe IoT is necessary to digitally transform their industrial operations. — Atlasiko
16. Cost savings are the primary revenue driver for 54% of enterprise IoT projects. — G2
Author: Andrii Sydoruk, CMO & Managing Partner at SmartTek Solutions
