How many IoT connected devices are there?
Internet of Things (IoT) are popping up everywhere and revolutionizing our lives in every aspect.
Sending and receiving data between the objects which are interconnected with internet is defined as IoT.
IoT devices are widespread across the globe. 127 new IoT devices are connected to the internet every second.
Wireless networks and super cheap computer chips have turned something as small as a pill to something as big as an aeroplane with help of IoT.
Fantasies like turning the lights on or off, adjusting the thermostat with mobile applications, arming your security system remotely have come true with Iot.
Simply we can say, IoT surrounds us from the moment we get out of bed to the second we go back home. And those include gadgets, machines, buildings, and more that connect to the internet.
Now, we get into some numbers…
- IoT numbers are growing rapidly. And 35 billion devices are expected to be installed by the next year end.
Around 31 billion IoT devices will be available by the end of 2020. By 2021, it is expected to rise by 4 billion. This includes all devices like machines, sensors etc.
- IoT devices are expected to reach 125 billion by 2030.
IoT devices will grow rapidly in future. Every customer will own around 15 IoT devices which is a decent jump from average IoT devices currently owned.
- 70% of the Automobiles will be a part of IoT by 2023.
Autonomous vehicles are on its way, more than $100 billion has been invested by automobile industry for research and development over the last five years. Huge amounts of data should be collected and analyzed and these data centers should be capable of directing the resulting digital traffic in order to bring the driverless cars.
- By 2024, there will be around 1.9 billions 5G Cellular subscriptions.
According to the Ericsson, 5G expansion will drive the IoT growth. North American market is expected to have higher growth rate with 63% of 5G mobile subscriptions. Also 5G access in East Asia will be available for 47% of the cellular subscribers.
- By the end of 2020, the average number of connected devices will be 50.
Every household actually have internet in their homes. Scope for investing in connected devices is more because of the demand for home gateways with Wi-Fi throughout the home.
- The market for IoT devices by the end of 2020 will be around $248 billion.
IoT market is growing year on year. Significant rise can be seen in the market every year and is expected to reach $1,567 billion by 2025.
- 40% of the IoT devices are used in manufacturing and business.
Most of the people do not have the idea of IoT devices which are used in factories, they always think of the devices they use in home. But, most of the IoT devices are used in factories for more efficiency.
- 48% of the IoT devices market share will be acquired by Google Home by 2022.
There are different kind of smart speakers in the market. Google Home has the highest market with 48%, followed by Amazon Alexa with 37% and Apple HomePod with 12%.
- Smart technology trend suggests that, IoT devices may rise to 75 billion by 2025.
Startups are mostly related to technology although the competition is fierce. Technologies like smart speakers, machine learning, and 5G will influence how efficiently our homes and businesses are managed.
Forecasts state that 5G technology will power 1.3 billion mobile IoT devices by 2023.
- The worldwide market revenue for IoT is $212 billion in 2019.
2 years ago the market value of IoT is $100 billion only. Business insider states that IoT market will grow to $3 trillion by 2026.
- By 2035, 29% of the world’s self-driving fleet is expected to own by North America.
Rigorous trails and developments are been undergoing on fully autonomous cars and technology. Gartner predicts that 1% of long-haul freight will be carried by autonomous vehicles by 2021. Global market of the partially-automated cars will reach $36 billion by 2025. Fully autonomous vehicles will hit by 2035 and North America holds 29% of self-driving fleet, China with 24%, and Western Europe with 20%.
- Cost reduction is the biggest driver behind IoT investment for 54% of the enterprises.
Data has been gathered from 1,600 IoT projects in the world, which reveal that cost reduction was the primary driver for IoT. 35% of the projects related in increasing revenue, and even smaller number 24% related in improving security.
- Companies spend up to $1.1 trillion in IoT by 2023.
IDC states that spendings on IoT reach $1 trillion by the end of 2022. Transportation, process manufacturing, and discrete manufacturing are three biggest commercial industries which may spend on IoT making nearly a third of all IoT spend.
- Economic impact of IoT market would be around $4 trillion and $11 trillion per year by 2025.
Mckinsey Global Institute predictions say that total impact of the economy of IoT will increase year by year.
- By 2022, Global smart home IoT device market is expected to grow to $53.45 billion.
Automated lightings, home security systems, climate appliances, and entertainment with IoT have become an integral part of our lives.
- The Global Helathcare market of IoT is expected around $140 billion by 2024.
IoT has greater influence on Healthcare market. In 2014, Healthcare market size was evaluate at $60 billion. The annual growth rate is around 12.5%.
- By 2025, 600 smart cities will account for 60% of global GDP.
It is expected that smart cities will surpass $2 trillion market value by 2025. Artificial intelligence and IoT both drive the market value.
IoT Security and Privacy
Almost all IoT machines have some security issues. It is a tremendous problem, and no one knows how to deal with it.
Hackers can easily breach a smart device and spy on the owners. They can get into industrial control systems, manipulate production lines, shut down factories, even cause shipwrecks.
There are real-world examples of hackers closing down electrical grids and leave the people without electricity.
A simple hack can turn your child’s smart toy into a spying device. Internet-connected medical devices are often compromised and cause someone’s death.
The number of devices connected to the web goes up, and you’ll expect more and more machinery to be online.
As the stakes get higher, the pressure to solve this problem will rise as well.