The Internet of Things has surpassed the human population in number more than a decade ago. And every fact and figure, trend, study and sign points to the same thing: its growth isn’t slowing down a bit. To illustrate that, we compiled a series of IoT statistics in this article.
Only a handful of things can compare to this technology’s growth. The numbers for 2019 are enormous. But it still doesn’t hold a candle to what the future of IoT is shaping to be.
Different research bodies and organizations conducted intensive studies to accurately measure the IoT market. The results vary but they all have one thing in common: the numbers always present a staggering amount. This collection of IoT market statistics provides good insight into how active this industry is.
The future is bright for this industry. IoT software market size will continue to grow both in the short and long term. It promises to be ubiquitous, with IoT devices installed and embedded in practically all the technologies that humans interface with. Here’s a list that details how IoT devices would impact different sectors.
Source: StatistaDesigned by
If we’re going to believe in any of the IoT market analysis conducted by various organizations, one thing’s clear. The IoT market is going to get a lot bigger than it is right now. Therefore, it comes to no surprise that these huge companies are already starting to invest in this technology. There has been a good number of corporations that purchased smaller companies in the past few years. Some of the most notable ones are presented in the statistics below.
This technology, however large its market potential is, poses some issues. Human beings’ natural resistant to change is one. However, there are other serious problems that surface the more IoT data is presented. Both the critics and supporters of this industry have shared sentiments regarding these challenges. And we have a list of statistics to show for it. Some of the most notable issues that must be addressed before truly enjoying every benefit that IoT products bring include:
Fraudulent credit card charges%
Compromised sensitive information%
Hacked email accounts%
Compromised Social Security number%
Credit card used to take loans%
Impersonated to file fraudulent tax returns%
Source: Pew Research, 2016Designed by
Phones aren’t the only smart thing present these days. There are also smart homes, smart cities, smart cars, and others. IoT is such a big industry because of the wide application it has. The convenience it brings and the lives it saves are just a few of its benefits. So needless to say, IoT market size is varied, enormous and steadily growing. Here’s a list of statistics showing a few of the benefits brought by this technology.
At this point, we’ve shared enough IoT reports and we couldn’t stress enough how big of a market this is. In that light, spending a huge amount into this industry isn’t a surprising action at all. Government agencies, private companies and huge corporations all agree to that as well. To illustrate, the next set of statistics show just that.
Production Asset Management
Source: IDCDesigned by
Whether we are ready or not, IoT is definitely finding its way into our lives. The presented IoT market research reflects this. With billions of dollars being spent on it, there is no telling where the future leads.
It’s not a bad thing, however, because this innovative technology can bring a lot of positive changes. For us personally, it could provide a lot of conveniences.
For businesses, IoT together with CRM can influence customer engagement. Healthcare could save more lives and more smart cities can be developed further. Those examples aren’t even scratching the surface of what the Internet of Things can do. For better or worse, it’s capable of a lot more.
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