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  • 150+ Technology Statistics You Must Know: 2019 Market Share Analysis & Data

150+ Technology Statistics You Must Know: 2019 Market Share Analysis & Data

Category: B2B News

In order to maximize the benefits that every piece of new tech has to offer, it is pertinent that you stay up-to-date on the latest industry news and developments. To help you out, we have compiled some of the most essential technology statistics of 2019.

In the coming years, we can expect more advanced technologies to stir up the market like IoT, 5G networks, and augmented reality, to name a few. With that said, there will be significant changes when it comes to industry requirements and customer expectations.

In this article, we will be discussing everything from internet adoption and new communications strategies to IT industry changes and emerging technology. This way, you can get a bigger picture of how technology will be affecting your business in the near future as well as what you can do to keep up with the times.

technology statistics

General Technology Statistics

Spending on technology is projected to grow even more in the future, but that is not to say that we don’t have enough gadgets at home and at work. We can attribute this to the rapid development of new tech and the innate need of individuals and businesses to keep up with what’s new. After all, why would you use outdated gadgets when there are newer ones that help you handle your current tasks more efficiently?

In addition, plenty of emerging tech such as 5G networks, AI, IoT, and augmented reality are poised to change the overall business landscape. So you can expect more C-level executives to be more hands-on when it comes to researching and analyzing potential tech investments.

  • The worldwide spending on technology reached $3,360 billion this 2019. (Statista, 2019)
  • 50% of tech growth worldwide is because of emerging technology such as IoT software and hardware, AR/VR, SaaS+PaaS, robotics, AI, big data, and next-gen security. (CompTIA, 2018)
  • US exports of technology products and services are estimated to reach 322 billion. (ComTIA, 2018)
  • Some of the factors that drive tech growth are the need to reach new customers (46%), pick-up in business from existing base (41%), sell new business lines (38%), improve of sales/marketing efforts (35%), improvement of internal operations (33%), and positive government action (22%) (CompTIA, 2018)
  • Tech growth may be inhibited due to customers postponing purchases (43%), unexpected shock (35%), negative government action (35%), shrinking profit margins (34%), labor costs (30%), and competition from new firms (27%). (CompTIA, 2018)
  • Businesses are investing in new tech due to end of life (62%), to refresh cycles (52%), for business growth (52%), to support end-user needs (47%), to meet project needs (46%), to leverage new tech features (31%), and due to software compatibility (30%). (Spiceworks State of IT, 2019)
  • In the coming years, the business decision-makers involved in tech purchases would be CEOs (38%), business line directors (32%), finance/procurement (28%), business line managers (28%), COO/CFO/CMO (27%), professional staff (20%), and legal (6%). (Spiceworks State of IT, 2019)

Alongside this demand for new tech is the need for trained individuals to handle them. As of 2018, there has been a significant increase in the demand for tech professionals—particularly those with knowledge of new technologies. However, it is best to note that the hiring field can be quite competitive, so securing the best employees can prove difficult if you don’t offer good compensation and a solid career growth path.

  • 4 in 10 US tech firms report having job openings for tech-related jobs (ComTIA, 2018)
  • Tech firms are hiring due to expansion (58%), the need for skills in new tech (52%), and replacements for departures and retirements (43%) (ComTIA, 2018)
  • The top hiring challenges reported by employers are finding workers with a background in emerging tech, finding workers with desired soft skills, intense competition for tech talent, rising salary expectations, limited pool of available workers. (ComTIA, 2018)

Why Do Businesses Invest in New Technologies?

To Replace EOL Hardware

%

To Refresh Cycles

%

To Reinforce Business Growth

%

To Support End-User Needs

%

To Meet Project Requirements

%

To Leverage New Tech Features

%

To Improve Software Compatibility

%

Source: Spiceworks 2019 State of IT

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Internet Statistics

The internet is one of the core pillars of the digital age; everyone needs it to access information on any given topic. What’s more, it serves as a portal through which individuals can monitor their work, finish schoolwork, purchase items available exclusively online, or even watch their favorite shows. It also keeps everyone connected 24/7, so it is not unusual that internet users are now relying on their mobile devices for surfing the net.

  • There are 4.4 billion active internet users worldwide—that’s 58% of the global population. (Statista, 2019)
  • The global online penetration rate is 57%. (We are Social, 2019)
  • Statistics show that there are 1 million new internet users each day. (We are Social, 2019)
  • As of 2017, there are 3,511.41 secure internet servers per 1 million people across the globe. (Our World in Data, 2019)
  • Internet users spend an average of 6 hours and 42 minutes online daily. (We are Social, 2019)
  • The most visited websites are Google.com, Youtube.com, and Facebook.com (Alexa)
  • The activities of internet users consist of video streaming (92%), TV content streaming (58%), online gaming (30%), watching live streams of online games (23%), and watching e-sports (16%). (We are Social, 2019)
  • Internet users spend 48% of their browsing time via their mobile device. (We are Social, 2019)
  • There are approximately 3.986 billion active mobile internet users worldwide. (We are Social, 2019)

internet by the numbers

Social Media

While the world wide web is often used for various tasks in our day-to-day routines, social media is one of its most used facets. Having existed not so long ago, social media has rapidly gained popularity over the past few years with the emergence of sites such as Facebook, Instagram, YouTube, Pinterest, and Twitter.

This makes it one of the best marketing and sales channels for businesses. In fact, there’s a long list of social media management tools available on the market to help you manage several accounts in one platform.

However, simply having social media accounts is not enough. According to the statistics we’ve culled, you must pick the platform most of your target audience will use and provide them with content they will most likely want to see.

  • Social media has a penetration rate of 45%. (Statista, 2019)
  • As of 2019, there are 3.5 billion social media users. (Digital in 2019 study, 2019)
  • There are 3.256 billion mobile social media users. (Digital in 2019 study, 2019)
  • Internet users spend up to 2 hours and 16 minutes per day on social media alone. (Global Web Index)
  • Filipinos spend the most time on social media with an average of 4 hours and 12 minutes per day. (Digital in 2019 study, 2019)
  • The top social media platforms are Facebook (2.271 million monthly active users), YouTube (1.900 million monthly active users), and WhatsApp (1500 million monthly active users). (Statista, 2019)
  • Visual content is 40 times more likely to be shared on social media than any other type of content. (HubSpot, 2018)
  • Facebook posts with photos attached to them get 2.3x more engagement compared to posts without images. (HubSpot, 2019)
  • Individuals are 80% more likely to read content with colored visuals. (HubSpot, 2019)
  • Infographics are 3x more likely to be shared by internet users than any other type of social media content. (HubSpot, 2019)

AdBlockers

Of course, while the Internet may be opening up new opportunities for businesses, certain developments might hinder you from capitalizing on it. One such obstacle would be adblockers.

It is no secret that many internet users find advertisements annoying, so it only makes sense that they use applications that can block these. The problem here is that you might be spending on ads that your target audience won’t even see. That’s why you must come up with ways to boost your online visibility sans advertisements, such as posting on social media regularly and creating better website content.

  • Globally, there are 615 million devices equipped with adblockers. (PageFair Adblock Report, 2017)
  • 80% of Americans utilize at least one ad-blocking method. (Deloitte, 2018)
  • In North America, 50% of the adult population use at least two adblockers for their devices. (Deloitte, 2018)
  • 90% of the reported mobile devices with adblockers are in Asia. (PageFair Adblock Report, 2017)
  • Back in 2017, the US adblocking penetration rate was 27% and it is projected to grow in the coming years. (Statista, 2018)
  • The top reason for using ad blockers is that there are too many annoying or irrelevant ads (Statista, 2018)
  • Adblocking is projected to cost businesses a whopping $75 billion per year by 2020. (Statista, 2018)

Cyber Security

In addition to adblockers, cybersecurity is another factor to consider. More people using the internet means increasing cyber threats, and they’re becoming more sophisticated every single day.

Recovering from cyber attacks can cost businesses millions of dollars. Not only that: once your data is compromised, it will be harder to earn and maintain customer trust. With that said, cybercrime may well be one of the biggest threats to any company.

This only means that you have to improve your business’ online security, especially when it comes to your servers and cloud storage. By doing so, you can maintain the integrity of your customer information and confidential company data.

  • More than 90,000 websites are hacked daily. (Hosting Facts, 2019)
  • WordPress is the most hacked CMS with 83% of the compromised websites being hosted on their platform. (Hosting Facts, 2019)
  • 31% of companies have had their operational technology infrastructure compromised. (Cisco Cybersecurity Report, 2019)
  • There’s an average of 24,000 malicious mobile apps blocked per day. (Internet Security Threat Report, 2018)
  • A company falls victim to a ransomware attack every 14 seconds. (CyberSecurity Ventures, 2017)
  • 41% of organizations have more than a thousand sensitive documents—such as credit card numbers and health records—unprotected. (Varonis Global Data Risk Report, 2018)
  • 50% of the cybersecurity risks that modern companies face include having multiple security vendors. (Cisco)
  • The average cost of a malware attack on a company is $2.4 million. (Cost of Cyber Crime Study, 2017)
  • The average cost in time of a malware attack is 50 days. (Cost of Cyber Crime Study, 2017)
  • Experts predict that ransomware damage costs will rise to $11.5 billion this 2019 CyberSecurity Ventures, 2017)

Communications Statistics

VoIP

Business communications used to be ruled by on-premise telephony. However, with the emergence and increasing use of the internet, we’ll see more companies opting for Voice Over Internet Protocol or VoIP instead of on-premise communication tools.

Through VoIP, businesses can now accommodate calls on any device; it also paved the way for BYOD policies which allow agents to work remotely, increasing productivity. What’s more, it is much cheaper to maintain compared to traditional systems. In fact, there are VoIP systems for small businesses and big enterprises alike, so finding one that suits your budget and business size shouldn’t be a problem.

Unified Communications

However, it is important to note that while there are plenty of people who prefer talking over the phone, there are also those who want to converse using different channels such as email, instant messaging, and social media—channels that aren’t normally supported by VoIP solutions. This is where Unified Communications systems come in handy.

These tools are capable of bringing together your VoIP tool with other communication management solutions, so it comes as no surprise that the UC market is projected to increase exponentially in a few years. Similar to cloud telephony and VoIP, these tools are often deployed online so you also won’t have to worry about storage and maintenance issues.

  • The preferred everyday communication tool of millennials are email (58%), instant messaging (31%), phone (29%), face-to-face meeting (20%), and social media (13%). ( Communication Barriers in the Modern Workplace Study, 2018)
  • 80% of professionals use text messaging for business. (eWeek, 2015)
  • By the year 2022, PCs will only make up 19% of IP traffic while smartphones will account for 44%. (Cisco)
  • The market size of unified communications systems is predicted to hit $143.49 billion by 2024. (Grand View Research, 2019)
  • 25% of companies use UC systems through a private cloud while 26% leverage UC as a service (UCaaS). (IHS Survey, 2017)

5G Network

Aside from shifting communication channel preferences, an emerging technology that can reshape current UC systems and internet usage is the Fifth Generation Network or 5G.

While 5G is yet to hit the market, there are plenty of service providers that are already testing it out. It is expected to be 100 times faster than 4G tech and can support millions of devices per square mile, making it great for connectivity. However, it does not come cheap, and it might take a lot of preparation before it is rolled out at a large scale. So it might be best to start researching and analyzing how you can integrate this into your operations.

  • By 2021, the number of 5G connections is forecast to hit between 20 million and 100 million. (5G Statistics and Facts, 2019)
  • The 5G mobile infrastructure by 2019 is predicted to cost $2.3 billion. (5G Statistics and Facts, 2019)
  • The top perceived benefits of 5G enhanced mobile broadband (eMBB) are not needing to log onto public wifi (48%), lightning-fast browsing (48%), faster content downloading (37%), better video call quality (27%), and instant cloud access (21%). (Statista, 2018)
  • The priority use cases for 5G deployment are enhanced mobile broadband (74%), massive IoT (21%), and ultrareliable communications such as AR/VR (5%). (Statista, 2017)
  • By 2024, 5G networks are poised to cover 40% of the globe and handle 25% of mobile traffic. (Ericsson Mobility Report, 2018)
  • The 5G latency is expected to range between 1 and 4 milliseconds—a far cry from 4G’s 50 to 100 milliseconds. (Network World, 2019)
  • 5G network implementation in the US alone is expected to cost roughly $130 to $150 billion due to the need to deploy fiber optic cabling (Deloitte)

Priority Use Cases of 5G Technology

74%

Enhanced Mobile Broadband

21%

Massive Internet of Things

5%

Ultrareliable Communications like AR/VR

Source: Statista

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Information Technology Statistics

More sophisticated software solutions and technologies require equally advanced devices and infrastructures to run on. So it only makes sense that in the near future, we can expect organizations to roll out more digital transformation initiatives. This means increased IT budgets, higher demand for tech professionals, and more investments in newer hardware and software.

  • The global IT industry is expected to grow at a rate of 4.0% by the end of 2019 (CompTIA, 2018)
  • Among the key categories of the global IT industry are telecom services (30%), devices and infrastructure (22%), IT and business services (21%), emerging technology (17%), and software (11%). (CompTIA, 2018)
  • 89% of companies are expecting their IT budgets to grow this year. (Spiceworks State of IT, 2019)
  • Over a third of midsized companies experienced an increase in their IT budget because of corporate tax cuts. (Spiceworks State of IT, 2019)
  • The top factors leading to IT budget increases are outdated infrastructure (64%), increased priority on IT projects (56%), increased security concerns (56%), employee growth (43%), changes to regulations (37%), and business revenue increases (30%). (Spiceworks State of IT, 2019)
  • Companies allocate their software budget towards operating systems (12%), virtualization (10%), productivity (10%), and security (10%). (Spiceworks State of IT, 2019)
  • The budget for managed services often focuses on managed hosting (11%), storage (10%), and security (9%). (Spiceworks State of IT, 2019)
  • Cloud service budgets are mostly allocated for online backup (15%), email hosting (11%), online productivity (9%), and web hosting (9%). (Spiceworks State of IT, 2019)

In addition to updating infrastructures, curbing security concerns, and remaining compliant with industry regulations, another reason why companies focus on IT is survival. The modern business landscape is cutthroat, and companies need a proactive approach towards information technology if they want to keep up with the competition. With that said, expect more businesses looking into new IT developments such as macro technology, AI-fueled processes, serverless computing, and more.

  • 27% of businesses believe that implementing digital transformation initiatives is a matter of survival in their respective industries. (Advance 2000, 2018)
  • Only 19% of US companies consider their operational tech as advanced. (Advance 2000, 2018)
  • 57% of companies say that leveraging key digital technologies is critical to their operations. (Advance 2000, 2018)
  • One of the top CIO goals is to redirect assets from operations to innovations. This is why there are businesses looking to create automated and abstracted NoOps IT environments to create serverless computing. ( Deloitte, 2018)
  • The number of AI pioneers is expected to increase in the coming 18 to 24 months. (Deloitte, 2018)

However, it seems that many businesses are failing to improve their IT infrastructure through digital transformation. This is due to the lack of knowledge in creating plans and guidance from experts. In fact, some businesses skip vital aspects of the process in order to speed up their initiatives, which often prove to be counterproductive.

  • 82% of executives are not reviewing their internal business processes before setting KPIs for their digital transformation. (Celonis, 2019)
  • 4 in 10 business analysts mentioned that they are not consulted regarding digital transformation initiatives. (Celonis, 2019)
  • 45% of C-level managers say that they don’t know where to start when it comes to creating digital transformation strategies. (Celonis, 2019)

information technology statistics

AI and Automation Statistics

Many businesses see value in the utilization of AI and automation and deem them key factors in keeping up with competitors and improving overall operational procedures. This is why today’s c-level executives are willing to spend more for the implementation of these technologies.

  • AI has the potential to contribute $15.7 trillion to the global economy by 2030. (PwC, 2019)
  • 73% of senior executives want to increase their investment in AI/machine learning and automation. (Celonis, 2019)
  • 63% of executives believe that AI initiatives are required in order to catch up with their competitors. (State of AI in the Enterprise, 2018)
  • 98% of businesses say that AI and machine learning can improve automation. (CA State of Automation report, 2018)
  • 83% of organizations have observed moderate to substantial benefits upon implementing cognitive technologies. (State of AI in the Enterprise, 2018)
  • The top uses for AI include IT automation (47%), quality control (46%), cybersecurity (41%), predictive analytics (38%), and customer service (37%). (State of AI in the Enterprise, 2018)

In fact, as of last year, there has already been an increase in the number of businesses that leverage AI tech such as machine learning, deep learning, and natural language processing. Studies show that more companies will be rolling out automation and AI initiatives by implementing AI-powered software, codevelopment, and other methods.

As with any type of tech, AI and automation have their fair share of challenges. For instance, many people worry that these new technologies may take away jobs. However, contrary to popular belief, many companies say that they will actually generate demand for professionals.

In fact, they are more worried about not having employees who can help them with their AI initiatives. This is why many executives are going through great lengths when it comes to building a more AI-ready workforce.

  • 61% of internet users believe AI may affect the availability of work. (BCG, 2019)
  • 58% of people say that governments should take measures to regulate AI and protect jobs. (BCG, 2019)
  • The most common struggles of AI adopters involve data issues (16%), integrating AI into existing workflows (14%), implementation (13%), cost (13%), and lack of skills (11%). (State of AI in the Enterprise, 2018)
  • 38% of companies believe that AI will lead to an increased need for employees (38%). Meanwhile, 19% say that it might lead to job cuts within their company. (PwC, 2019)
  • Companies are focusing on hiring professionals with specific skill sets to boost AI initiatives. Among those they are looking for are AI researchers (30%), AI software developers (28%), data scientists (24%), user experience designers (23%), and change management experts (22%). (State of AI in the Enterprise, 2018)
  • 31% of companies feel that they might be unable to meet the required AI skills over the next five years (PwC, 2019)
  • 60% of companies are implementing continual AI learning initiatives to build an AI-ready workforce while 56% focus on identifying new roles and skills needed to implement AI. (PwC, 2019)

AI and automation statistics

Big Data and Analytics Statistics

While the term “big data” was coined only in 2005, the practice has actually been around since the 1990s. There just wasn’t enough data to analyze at that time, and not everyone had the means to collect and organize what little data was available.

Today, data has become the fuel of the future. With 2.5 quintillion bytes generated on a daily basis, companies will surely have all the resources they need in order to understand their industry, approach their target audience better, and make their processes more efficient.

In fact, there has been a growing number of businesses investing in big data and analytics in the past few years.

  • The big data market is projected to be worth $77 billion before the end of 2023. (Entrepreneur, 2019)
  • The revenue of big data and business analytics reached $189.1 billion this year. (Statista, 2019)
  • In 2018, global IP traffic from cloud data centers hit 10.6 zettabytes. (Statista, 2019)
  • Experts predict that each human will generate 1.7 megabytes of data per second by 2020. (Domo, 2018)
  • Organizations that are data-driven are 23 times more likely to convert leads and 6 times more like to retain them. (Advance 2000, 2018)
  • By fostering data-driven processes, businesses are 19 times more likely to improve their ROI. (Advance 2000, 2018)
  • Among the 33 technologies that businesses will be prioritizing in the coming years, big data ranks 20th. (Forbes, 2017)
  • 95% of companies are looking to organize their unstructured data. (Forbes, 2019)
  • To date, 53% of businesses are planning on implementing big data analytics for their operations. (Forbes, 2017)
  • 97.2% of companies are currently investing in big data. (NewVantage, 2019)
  • 90% of IT professionals plan intend to up their spending on business intelligence tools to improve big data analysis. (Forbes, 2019)

Aside from analyzing the industry and improving operational processes, companies are also found to be using big data systems and data analytics software for other aspects of their business. Among these are data warehouse management, content analytics, and descriptive and predictive analytics.

  • 70% of businesses believe that data warehouse optimization is the most critical big data analytics use case. Following this is customer analysis and predictive maintenance. (Forbes, 2017)
  • As of January 2019, descriptive and predictive analytics usage grew to the high 60th percentile. (Forbes, 2019)
  • IT professionals increased their content analytics usage by 54%. (Forbes, 2019)

big data and analytics statistics

eCommerce Statistics

eCommerce undoubtedly offers a handful of benefits to both businesses and consumers. More products and services are within reach, and transactions are simplified. In the coming years, we can expect an increase in both online stores and shoppers.

  • 3756.2 million people use eCommerce. (Statista, 2019)
  • An estimated 1.92 billion people will make an online purchase this 2019. (Statista, 2019)
  • The average revenue per user (ARPU) in eCommerce currently amounts to $539.90. (Statista, 2019)
  • The spending on eCommerce is growing by 11.3% year-on-year. (Statista, 2019)
  • The eCommerce industry will rake in $3.45 trillion worth of sales by the end of 2019. (Hosting Facts, 2019)
  • Digital interactions influence $0.56 of every dollar spent in a physical store. (We Are Social, 2019)
  • eCommerce’s largest segments are travel with a volume of $750.7 billion, fashion with $524.9 billion, and electronics with $392.6 billion.  (We Are Social, 2019)
  • The expenditure on eCommerce consumer goods alone reached $1.78 trillion in 2018. (Statista, 2019)

Moreover, if you already have a brick-and-mortar shop, having an eCommerce store will allow your potential customers to get to know your brand well before they pay you a visit.

  • 88% of online shoppers participate in webrooms or online showrooms before purchasing through a physical store. (Retail Perceptions)
  • According to online shoppers, webrooming allows them to find the lowest price (75%), compare products (72%), and conduct product researches (71%) without having to go out and visit stores. (Retail Perceptions)

Social Media eCommerce

However, keep in mind that simply having an eCommerce website is not enough to engage your leads. Nowadays, consumers use their mobile phones and social media accounts to scout for new brands. This means you need to have mobile-ready stores and active accounts on social networks to reach your target audience more effectively.

  • 44% of the time spent on online shopping is via a smartphone while 45% is through a desktop. (ReadyCloud, 2015)
  • 7 in 10 online shoppers prefer using mobile websites than mobile applications when it comes to eCommerce. (ReadyCloud, 2015)
  • 74% of online shoppers rely heavily on social networks before making purchasing decisions. ( SproutSocial)
  • In Southeast Asia, social shopping is responsible for roughly 30% of total online sales. (eMarketer)

Financial Technology

Aside from the abovementioned, it is also a good idea to start investing in financial technology. This digitization of financial services allows you to automate certain processes related to money matters, reducing costs in the long run. With this, you can transact with your clients quickly using their preferred channels and payment methods.

  • FinTech’s largest segment is digital payments. As of early 2019, it has a total transaction value of $4,137,523 million. (Statista, 2019)
  • The top 3 payment methods used by online shoppers are credit cards (53%), digital payment systems (43%), and debit cards (38%). (ReadyCloud, 2015)

Increasingly Popular eCommerce Tools

Of course, as we move toward a more high-tech business landscape, you will need to keep up with the tools that other companies are using. For instance, many shoppers expect eCommerce businesses to provide them with self-service options such as chatbots. Moreover, consumers are now purchasing using voice searches. This only goes to show that if you do not equip your websites with voice search functions and SEO, there’s a good chance that you’re missing out on opportunities.

  • Over 60% of online consumers prefer using digital self-serve tools such as chatbots for inquiries. (American Express)
  • 80% of businesses will use chatbots for their online sites by 2020. (Business Insider)
  • 22% of eCommerce users who own smart speakers have purchased online via voice search. (Smart Audio Report, 2018)
  • By 2020, voice searches will make up 50% of all internet searches. ( State of Voice Search, 2018)

In case you are wondering what else is new in the world of eCommerce, you can also check out our list of essential eCommerce statistics.

What Do Online Shoppers Purchase Online?

The total annual spending of consumers on the various segments of eCommerce in billions (USD)

Travel

Fashion

Electronics

Toys, DIY, and Hobbies

Furniture and Appliances

Food and Personal Care

Video Games

Digital Music

Source: We Are Social

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Emerging Technology Statistics

Aside from the different technologies we have tackled thus far, there are also plenty of emerging technologies worth noting:

Internet of Things

Internet of Things or IoT is something you’ve probably heard of. It is a system that interconnects various computing devices in a single network. This makes it possible to create smart cities, smart homes, connected cars, smart utilities, and wearable gadgets. As we dive deeper into a more high-tech business landscape, IoT is expected to dominate quite a few aspects of day-to-day life for both businesses and individuals in the near future.

However, it is important to note that it can be difficult to pull off IoT projects if you don’t have the expertise to handle them. Thus, you must learn the lay of the land first before using it for your operations.

  • IoT consumer spending will reach $745 billion before the end of 2019. (IDC, 2019)
  • Experts say that by 2020, global spending on IoT technologies will reach $1.3 trillion. (IDC)
  • The industries that utilize IoT devices are business and manufacturing (40.2%), healthcare (30.3%), retail (8.3%), security (7.7%), and transportation (4.1%). (Intel)
  • There are 26.66 billion IoT devices in 2019.  Experts say it will surpass 75 billion by 2025. (Statista, 2016)
  • As of 2017, the IoT market for smart homes has reached $1.1 billion. (Statista, 2019)
  • The number of global autonomous driving sensor components will hit 4 billion by 2020. (Statista, 2019)
  • Experts predict that the market size for RFID tags will reach $24.5 billion by 2020. (Statista, 2019)
  • The number of connected wearable devices in the world will reach 1.1 billion before the end of 2020. (Statista, 2019)
  • 73% of IoT projects are failing. This is due to limited internal expertise, budget overruns, and low-quality data. (Cisco The Journey to IoT Value, 2017)
  • 54% of companies believe that IoT projects can succeed through the close collaboration between IT and business admin while 48% report that a major factor for success was expertise in the matter. (Cisco The Journey to IoT Value, 2017)

Augmented Reality

Augmented reality is another game changer across various industries. A concept originally introduced in 1968, this technology is slowly integrating itself into our daily lives through AR glasses, AR-enhanced training materials, or games like Pokemon Go. Some businesses are even making this technology more accessible to businesses and the masses. However, many still don’t quite know what it is or how to utilize it. So, studying it before leveraging it for your business might be best.

  • The AR market size is currently $3.5 billion. (Statista, 2019)
  • There will be an estimated 1 billion AR users by 2020. (New Gen Apps)
  • 67% of media planners intend to leverage AR/VR technology for their digital marketing campaigns. (Vibrant Media, 2017)
  • Leap Motion recently launched an AR headset prototype that costs only $100 to mass-produce. (The Verge, 2018)
  •  AR glasses sales will hit $22.8 million by 2022. (Tractica, 2017)
  • 70% of professionals say that AR has the potential to help them hone personal and professional skills. (ISACA, 2016)
  • 70% of people in the United States aren’t sure about what AR is. IBT, 2017)
  • Almost 50% of Americans have used augmented reality without even realizing it. (GearBrain, 2017)

SaaS

Software-as-a-Solution or SaaS is one of the main categories of cloud computing. Thriving alongside Infrastructure-as-a-Service (IaaS) products and Platform-as-a-Service (PaaS) products, this technology has been known for simplifying the distribution, delivery, and maintenance of business systems.

It may not be an emerging technology, but we included it on this list primarily because many SaaS products have yet to reach their full potential. Software providers are still figuring out how to incorporate different types of tech such as AI and analytics into their systems in order to make them better. Moreover, there are still quite a few companies who have not implemented SaaS solutions for their day-to-day operations despite the proliferation of SaaS productivity tools.

  • The SaaS market has a value of $116 billion worldwide and experts predict it will reach $157 billion by 2020. (Statista, 2019)
  • 64% of SMBs rely on cloud-based technology. (BSCG, 2016)
  • 78% of companies say they are looking to expand their arsenal of SaaS platforms. (BSCG, 2016)
  • In 2018, the average budget that a company spends on SaaS is $343,000. (Annual SaaS Trends Report, 2019)
  • SaaS products will be responsible for 60% of public cloud spending by 2020. (IDC, 2018)
  • 73% of companies say that almost all of their business systems will be SaaS-powered by 2020. (Better Cloud)
  • Before 2019 ends, 95% of companies will rely on the SaaS model, while 83% will opt for IaaS and 73% will use PaaS. (IDG Cloud Computing Survey, 2018)
  • By the end of 2019, several SaaS will slowly migrate to PaaS. (Datapine)

saas-powered future

Hardware Statistics

Now that we’ve discussed the various software solutions and online tech for businesses, we can now move on to hardware.

Workplace Hardware

Companies have different hardware needs, but it is evident that the majority of them rely on desktops and laptops. With the growing popularity of BYOD and the increasingly advanced mobile gadgets becoming available on the market, however, it seems that many are also using tablets and smartphones for their operations.

Furthermore, it seems that companies are keen on making sure that all operational tech are up-to-date. They do this by decommissioning equipment after a certain period of time.

Smartphones

Smartphones are perhaps the most used device of all time. Everyone practically has their phone in hand no matter where they go. This way, they can answer calls, send text messages, browse through social media, surf the net—you name it. What’s more is that just when we thought phones couldn’t get any more popular, statistics show otherwise.

  • Smartphones account for a third of global mobile connection. (We Are Social, 2019)
  • 4.4 billion smartphones are currently in use worldwide. (We Are Social, 2019)
  • People use smartphones for voice calls (57%), data usage (33.5%), standard SMS (6.5%), and softphones (1%). (Business Communications Technology Insight Report, 2018)
  • Experts predict there will be 258.2 billion mobile app downloads worldwide by 2022. (Statista, 2019)
  • To date, there are 104.40 mobile phone subscriptions for every 100 people. (Our World in Data, 2019)
  • 1 in 5 American Adults is a smartphone-only user. They don’t have traditional home broadband services and only rely on their mobile phones. (Pew Research Center, 2019)

Top Reasons Why Companies Replace Their Office Hardware

Hardware Failure

%

Performance Degradation

%

Physical Damages

%

End of Support Concerns

%

Maintenance Costs of Aging Hardware

%

Hardware Compatibility Issues

%

End-User Complaints

%

Device Loss/Theft

%

Tech Replacement Policy

%

Warranty Expiration

%

Source: Lifespan of Computers and Other Tech in the Workplace

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What Do These Technology Facts Mean for Your Business?

The data we’ve presented speaks for itself: technology will continue to evolve, and it’s changing the business landscape faster than companies can keep up with it.

Almost every year, we see new tech being replaced with even more advanced systems. For instance, VoIP, 4G LTE networks, basic automation are slowly being replaced by UCs, 5G networks, and AI. Consequently, consumers have increasingly high expectations from brands in terms of convenience, mobility, and reachability.

In order to truly succeed in leveraging technology to their advantage, companies will need to think ahead. There is no better time than now to study and test new methods of improving day-to-day operations. Moreover, companies should try to better integrate these technologies into their existing workflow and involve their existing workforce in building their digital transformation initiatives. After all, technology shouldn’t be treated as a way to replace your processes and your workforce. Rather, it is a means to reinforce operations and improve the efficiency of your staff members.

To sum up, while we understand that this compilation of technology statistics barely scratches the surface when it comes to the overall developments in the industry, we hope you were able to pick up a thing or two about leveraging tech to modernize your business. In case you aren’t sure where to start, we highly recommend that you try utilizing SaaS products that utilize the newest tech. Check out our guide to the different types of SaaS so you have a better idea about what you should invest in.

By Jenny Chang

Senior writer at FinancesOnline who writes about a wide range of SaaS and B2B products, including trends and issues on e-commerce, accounting and customer service software. She’s also covered a wide range of topics in business, science, and technology for websites in the U.S., Australia and Singapore, keeping tabs on edge tech like 3D printed health monitoring tattoos and SpaceX’s exploration plans.

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