Number of Internet of Things (IoT) connected devices worldwide

The Internet of Things (IoT) emerged merely as a concept in the early 2000s, and the trends show that this technology is here to stay. 

Since IoT is still developing, discussing its current trends and statistics is a hot topic. We’ve compiled some interesting IoT statistics to help you understand this growing market in 2022 and beyond.

Number of Internet of Things (IoT) Stats Highlights

1. By 2025, it is estimated there will be 27 billion connected IoT devices worldwide.
2. The global IoT market was estimated to be worth $389.2 billion in 2020.
3. The number of businesses using IoT technologies increased from 13% in 2014 to about 25% in 2019.
4. In 2018, the U.K. and Germany led the IoT market in Western Europe with a market share of 23% and 21%, respectively.
5. The number of connected Internet of Things (IoT) devices in 2030 are estimated to be 29 billion.
6. As of 2020, 749 billion U.S. dollars were expected to be spent worldwide on the Internet of Things (IoT) technology. 

Number of Internet of Things (IoT) - Key Stats

Now let’s dive into the stats a bit deeper.

Worldwide, 27 billion IoT devices are expected to be connected by 2025. 

(IoT-analytics)

In 2022, the market for the Internet of Things was expected to grow by 18% to 14.4 billion active connections. It is expected that by 2025, as supply constraints ease and growth further accelerates, there will be approximately 27 billion connected IoT devices worldwide.

The global IoT market was estimated to be worth $389.2 billion in 2020. 

(TransformaInsights)

Internet-of-Things (IoT) adoption is the rule rather than the exception for businesses in 2020, with revenues expected to reach more than $1 trillion in 2030. Year-over-year (YoY) market size growth projections were at an average of 40.79%, with the most significant gain forecast to hit in 2021.

The number of businesses using IoT technologies increased from 13% in 2014 to about 25% in 2019. 

(Mckinsey)

The Internet of Things (IoT) seems poised to cross over into mainstream business use. Businesses using IoT technology increased from 13% to 25% between 2014 and 2019, and 23 billion devices are expected to be in use worldwide by 2023, a nearly 13% rise from 2018.

In 2018, the U.K. and Germany led the IoT market in Western Europe with a market share of 23% and 21%, respectively. 

(SmartIndustry)

The six-year growth rates for both countries are robust—9.53% for the U.K. and 10.52% for Germany. The U.K. has a strong record of IoT-related technology inventions, while Germany heavily invests in manufacturing. However, by 2019, Germany and France led the market, spending $35 billion and $25 billion respectively, on IoT solutions.

Every second, 127 devices hook up to the internet for the first time.

(McKinseyDigital)

Consumers are now connected more than ever, with an incredible 127 devices connecting to the internet every second. Indeed, there are plenty of reasons to get excited about the future of IoT.

The number of connected Internet of Things (IoT) devices in 2030 are estimated to be 29 billion. 

(Statista)

The number of Internet of Things (IoT) devices worldwide is forecast to almost triple from 9.7 billion in 2020 to more than 29 billion IoT devices in 2030 and have an estimated value of more than $1 trillion. The largest markets for IoT devices are the U.S., Western Europe, and China. By 2030, China will have almost 5 billion consumer IoT devices making it the highest among other countries.

In 2022, Google Home will have the largest IoT devices market share, at 48%.

(Futurum Research)

There are several different smart speakers out there. However, Google Home is expected to have the most significant slice of the pie at 48%, followed by Amazon Alexa at 37%, and the Apple HomePod at a mere 12%.

As of 2020, 749 billion U.S. dollars were expected to be spent worldwide on the Internet of Things (IoT) technology. 

(Statista)

Despite an increase from the year before, the 2020 spending grew less than initially forecast due to the global coronavirus pandemic. The prognosis for worldwide spending on IoT by 2023 was 1.1 trillion U.S. dollars, as estimated in 2019. Region-wise, the Asia Pacific region held the largest share of the IoT market. North America came second, followed by Europe, the Middle East, and Africa.

Additional Internet of Things (IoT) Stats

• Ericsson predicts that smartphones will account for almost 9 billion internet-connected devices by 2024.
• North America will own 29% of the world’s self-driving fleet by 2035.
• In 2021, around 41.9% of U.S. households owned a smart home device, which is predicted to increase to 48.4% by 2025.
• The IoT market opportunity is expected to be worth $4 trillion by 2025.
• 61% of companies claim they have high IoT maturity levels.
• By 2023, every human will have more than three internet-connected devices.

Conclusion

Looking at the IoT growth rate, it’s clear that this technology is on an upward path. The number of IoT devices in 2022 is nothing compared to the future. With use cases of IoT continuing to expand, there is a lot of value in companies that seek to use IoT devices and solutions in the future.

We hope that this list of IoT statistics helps you understand the benefits it offers, if appropriately utilized, for individuals and businesses in 2022 and beyond. 

Sources

https://iot-analytics.com/number-connected-iot-devices/

https://financesonline.com/number-of-internet-of-things-connected-devices/

https://www.mckinsey.com/industries/private-equity-and-principal-investors/our-insights/growing-opportunities-in-the-internet-of-things

https://www.statista.com/statistics/1183457/iot-connected-devices-worldwide/