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The growth of the Internet of Things has given rise to a new set of security challenges. IoT devices are often connected to a network, which gives them the ability to collect and transmit large amounts of data. However, if these connections are not properly secured, they can be exploited by attackers.

This can result in the loss of sensitive data or even the takeover of entire devices. As more and more companies adopt IoT technologies, it’s becoming increasingly important to find new ways to secure these devices and networks. One promising solution is to use blockchain technology.

Blockchain is a distributed database that is highly resistant to tampering. By storing data on a blockchain, organizations can be confident that it will remain safe and secure. As the IoT continues to grow, so too will the need for innovative solutions like blockchain.

Important Internet of Things (IoT) Statistics

  • In 2020, the global market for IoT technology reached $749 billion.
  • The global IoT network consists of 15.9 billion devices.
  • The industrial IoT market is worth $77.3 billion.
  • By 2025, it is expected that consumer spending on products related to smart homes would total $88 billion worldwide.
  • With a market value of $7.6 million, outside monitoring is the most popular IoT use case.
  • By 2025, the total number of IoT-connected devices is anticipated to reach 30.9 billion.
  • In 2021, there were 2 billion cellular-enabled linked IoT devices.
  • By 2024, there will be 1.9 billion 5G cellular subscriptions, which will continue to fuel IoT growth.
  • For another two years, the IoT will see a slowdown due to the chip shortage.
  • In 2021, businesses will spend $631 million on IoT security.

1 . By 2023, global IoT spending will total $1.1 trillion.

The rapid expansion of the IoT business has been held down by the global COVID-19 outbreak. The amount spent on IoT technology globally in 2020 was $749 billion. The industry is still expanding, but not at the rate anticipated for 2019.

However, despite the downturn, global IoT technology spending will still reach $1.1 trillion by 2023, which is a fantastic outlook for a sector that depends on processors and is presently experiencing a global chip shortage.

2. By 2025, there will be more than 400 million homes equipped with smart home technology.

Looking at the adoption rates is one of the most interesting ways to monitor the growth of IoT technology. By 2025, approximately 400 million houses are expected to have at least one smart home system installed.

Consumer spending on both smart home services and goods will be impacted by this trend. Forecasts indicate that by 2025, this spending will top $170 billion.

3. The estimated $389 billion worldwide IoT market size.

In 2020, the global Internet of Things (IoT) industry was estimated to be valued at around 389 billion dollars. By 2030, it is expected to be worth more than one trillion dollars, more than doubling its current value. It is also anticipated that throughout this time, the number of IoT-connected devices will triple globally.

4. By 2030, consumer internet and media device sales will total $203.1 billion annually.

Consumer internet and media device sales generated $68.7 billion in revenue annually prior to 2019. Current estimates indicate that by 2030, this revenue might reach $203.1 billion. That virtually triples the revenue for 2019

According to statistics, IoT-connected vehicle revenue will continue on this path. By 2030, it will have significantly increased and will have reached its peak.

5. By 2030, there will be 15.9 billion connected IoT devices.

It is obvious that the consumer sector will outpace all others if we look at the prediction for the number of IoT-connected devices by vertical from 2019 to 2030.

Consumer IoT-connected devices will total a staggering $15.9 billion by 2030, more than three times the amount in 2019.

6. In 2020, the Industrial IoT market was worth $77.3 billion.

IoT technology has found applications in a variety of industries that indicate the magnitude of the industrial IoT industry. The market for industrial IoT surpassed $77.3 billion in 2020.

7. By 2023, around 70% of all brand-new automobiles will be online.

More and more vehicles are getting internet access daily. You’ve probably already realized this. But did you know that 70% of light-duty vehicles and trucks will be connected by 2023? That is in a little under two years!

This is true of the world market. However, if we focus on the US market, 90% of new cars will be internet-connected.

8. By 2023, 76 million internet-connected cars will have been shipped.

How many online automobiles make up 70%? Light-duty vehicles and trucks with internet connectivity will be distributed in 76 million units by 2023, according to the auto industry.

9. In 2021, the market for smart city technology, services, and goods generated $129 billion worldwide.

Civil projects also use IoT technologies. Most frequently, it appears in numerous smart city programs. In 2021, the market for smart city technology, services, and goods reached $129 billion globally.

Sales of information and data technologies to cities are the source of this income. The public city environment serves as the use case for these items and technologies. Remember that companies that sell connectivity technologies, such as cloud computing, are included in the revenue. Profits from sales of IoT products for the house are not included in this revenue.

10. It’s anticipated that consumer expenditure on smart home technology will resume its pre-pandemic increase in 2021.

Global consumer spending on products connected to smart homes is increasing. But if we look more closely at the market’s performance from 2019 to 2025, we can see that growth slowed down in that year.

The COVID-19 pandemic struck the entire planet in 2020, causing an economic downturn. The good news is that pre-pandemic levels of consumer expenditure on smart home technology are anticipated to return in 2021.

11. In 2021, the value of the worldwide IoT market for agriculture was $4.02 billion.

IoT technology is not just used in households, specific industries of manufacturing, and civil engineering projects. Additionally, the agriculture sector makes use of it. In actuality, the value of the global IoT market for agriculture was $4.02 billion in 2021.

According to projections, this market will keep expanding. Due to the “smart farming” trend, it is anticipated to double in value and reach $7 billion by 2025. The Micro-farming Solutions, GPS Services & Field Mapping Services, Agricultural Monitoring Services, Supply Chain & Inventory Management Solutions, and Agricultural Management Platforms sub-markets will all follow the same trends.

12. Globally, there were 10.7 billion short-range IoT devices in 2020.

In 2020, there were 10.7 billion IoT devices globally that used cellphones and routers as temporary gateways to the internet. In contrast to wide-area IoT devices, which numbered 1.9 million in 2020 and are anticipated to reach 6.3 million by 2026, these numbers are expected to reach 20.6 billion by that year.

13. By 2025, it is anticipated that IoT sensor revenue would total $43 billion.

Market growth for IoT sensors is anticipated to be exponential. This revenue ceiling for 2019 was $11.9 billion. However, it is anticipated that revenue from IoT sensors would expand by more than 300% by 2025, reaching $43 billion globally.

14. Government IoT endpoint electronics and communications revenue will total $17.4 billion globally in 2021.

IoT endpoint electronics and communications are now being used by governments all around the world. In 2020, the revenue they generated from implementing IoT technology was $14.7 billion. Governments will keep implementing IoT technologies, and by 2021, revenue will reach $17.4 billion.

15. By 2025, IoT connections will transmit 79.4 zettabytes of data.

IoT technology expansion had to wait for faster internet connections. Today, flawless IoT implementations are made possible by optics and the newest communications technology. IoT devices produce a startling amount of data, and by 2025, that number is expected to reach an astounding 79.4 zettabytes (ZBs).

16. By 2025, there will be 30.9 billion connected IoT devices.

By counting all IoT devices with an active connection, we can evaluate the whole IoT market and adoption rates. For instance, 13.8 billion IoT devices were online in 2021. However, according to the predictions, by 2025, there will be 30.9 billion connected units worldwide. That is a gain of more than 100%!

17. The increase in IoT connections heralds a quick rise in IoT market revenue.

The number of IoT connections is quickly overtaking non-IoT connections. While non-IoT connections refer to desktop, laptop, and smartphone connections, IoT includes connected autos, smart home solutions, and IoT equipment across industries.

By 2025, 10 billion gadgets are anticipated to have non-IoT connections. The number of IoT device connections is three times lower than what was anticipated for the same year. This only supports one conclusion: IoT market revenue will experience significant growth.

18. In 2021, there were 2 billion cellular-enabled IoT devices that were connected.

The number of cellular-enabled IoT devices that are connected is constantly growing. More specifically, it increased 18% from the previous year. 2 billion IoT devices that are powered by cellular technology will be online by the year 2021.

19. By 2023, the worldwide 5G IoT market is expected to be 39 percent dominated by connected autos.

Although the 5G IoT endpoint market is fairly diversified, market shares allow us to identify the fastest-growing industry. Connected cars make up the lion’s share of the IoT endpoint market. By 2023, connected cars will hold a 39 percent market share of all 5G IoT endpoints, according to forecasts.

This corresponds to approximately 19 million endpoints. In 2020, there were 3.5 million installed 5G IoT endpoints. It is anticipated to increase to 49 million by 2023.

20. By 2025, there will be 30.9 billion IoT-connected devices installed globally.

The total number of installed IoT-connected devices is steadily rising, but it appears that exponential growth is about to follow. This quantity increased to 13.8 billion in 2021. However, estimates indicate that by 2025, there will be 30.9 billion IoT-connected devices, an increase of more than two times from 2021.

21. It took only one year between 2020 and 2021 for the regulated LPWA market to lead with 54 percent of the market share over unlicensed LPWA with a 46 percent share.

The percentage of online IoT devices utilizing licensed LPWA (low-power wide-area) in 2020 was 47%, compared to the percentage using unlicensed LPWA of 53%. One year later, the situation is reversed, with licensed LPWA dominating with a market share of 54 percent over unlicensed LPWA’s share of 46 percent.

The NB-IoT (narrowband-internet of things) connections’ exponential growth, which increased by 75% YoY (year over year) in 2021, is the cause of this transition.

22. By 2024, there will be 1.9 billion 5G cellular subscriptions worldwide.

The 5G network keeps growing quickly. The future growth of the niche is something that some of the major players in it, namely Ericsson, are interested in. IoT will continue to rise in the future mostly due to 5G, according to Ericsson.

By 2024, there will be 1.9 billion 5G cellular subscriptions worldwide. The North American market, which already accounts for 63 percent of mobile subscriptions globally, will expand the greatest.

23. By 2030, there will be 7.7 billion connected IoT devices, with the greater China region taking the lead.

IoT technology is not being adopted uniformly throughout the world. The larger China region is currently the dominant one, according to trends. According to these predictions, there will be 7.7 billion IoT-connected devices in this region by the year 2030.

Europe and North America will follow the larger China region in having the greatest number of IoT-connected devices.

24. There were 12.3 billion connected IoT devices worldwide in 2021, an increase of 9% from 2020.

The number of IoT devices that are connected keeps growing. Between 2015 and 2020, this figure increased by 26% to 11.3 billion units. In 2020, growth slowed down but remained strong.

In 2021, there will be 12.3 billion gadgets, a 9 percent increase from the previous year. The number of cellular IoT devices has surpassed 2 billion, and by 2025, there will be 27.1 billion linked IoT devices.

25. A quarter of all cellular IoT connections worldwide are anticipated to be made by the automotive industry.

IoT technologies are not adopted at the same rate across all industries. The automotive industry seems to have the highest adoption rates by a wide margin. By 2025, this industry will actually have the greatest number of cellular IoT connections, making over 25% of all cellular IoT connections worldwide.

The introduction of 5G mobile technology and the rising popularity of autonomous vehicles are the contributing variables with the greatest influence on these developments.

26. By 2022, LPWAN coverage will be available to everyone in the world.

Low-power, wide-area network is known as LPWAN. These networks are beneficial because they save operating costs, allow for long-distance communications, and connect lots of devices (low power consumption rates).

Everyone on the planet will have LPWAN coverage by 2022, laying the groundwork for the IoT industry’s long-term expansion.

27. IT automation technology is used by 50% of firms in North America and Europe.

Different regions have different rates of information technology adoption in enterprises. Organizations in North America and Europe seem to be the most receptive to it. In these regions, IT automation technology is used by 50% of the firms, and another 12% say they aim to employ it in the upcoming year.

According to respondents, Gigabit Wi-Fi networking will be the second most popular IT trend among IT organizations in 2021, just behind IT automation technologies.

28. By 2025, there will be 27 billion connected IoT devices, a steady increase.

The international COVID-19 epidemic has had a significant impact on the global IoT sector, causing chip shortages and supply chain disruptions.

The market, however, seems to be more resilient than initially thought. It will keep expanding. It increased by 9% in 2021, reaching 12.3 billion active endpoints. By 2025, there will be 25 billion active endpoints, according to projections.

29. Many IoT programs were impacted by COVID-19, and some were even canceled.

The global COVID-19 epidemic had an impact on the IoT industry as well. Demand and supply were impacted by the epidemic across all markets and verticals. No exception applied to IoT.

Supply was primarily affected by the pandemic’s lengthened production timelines and broken supply systems. By the end of 2020, demand had begun to gradually revert to its pre-pandemic levels, but supply had not.

Many IoT projects have been put on hold or even abandoned in 2020. The COVID-19 aftermath is still upending the Internet of Things in 2021, primarily due to a lack of ships, shipping containers, and port congestion.

30. 11 percent of publicly traded corporations for 2021.

Another issue that appears to have hurt the IoT sector is a chip shortage. The chip shortfall in 2021 is anticipated to persist for up to another two years before sufficient new production capacity becomes available. The current scarcity is so ubiquitous that, in the second quarter (Q2) of 2021, 11 percent of the 3,000+ public corporations that were analyzed indicated “chip shortage” in conference calls.

31. In 2021, IoT security spending amounted to $631 million.

The amount of money put into the security is a positive indicator of the expansion of this industry. IoT will benefit from the fact that by 2021, annual spending on IoT security would amount to $631 million. How do we know that there are purchasers and that the market will expand further?

In 2016, the annual spending on IoT security was limited to $91 million. In comparison to 2016, businesses will spend seven times more on IoT security in 2021.

32. Five minutes after an IoT gadget gets online, it will typically come under assault.

Hackers and malicious software might quickly start attacking freshly linked IoT devices. A typical IoT device is targeted by hackers in 5 minutes or less, according to NETSCOUT.

According to the same source, this trend will only increase because more devices are certain to go online. Cybersecurity professionals did foresee this spike in cyberattacks. Unfortunately, the prophecy came true in every way.

33. 75% of cyberattacks use infected routers to carry them out.

Cybercriminals are constantly looking for backdoors into devices and networks. 75 percent of cyberattacks, according to Symantec, include hacked routers. A source of 15% of cyberattacks, linked cameras are second only to infected routers.

34. 74 percent of consumers worldwide consider IoT to be the biggest threat to their civil rights.

Consumers around the world are well informed about the dangers that new technology pose. In fact, 74 percent of people worldwide consider IoT to be the biggest threat to their civil rights.

92 percent of 1,600 customers surveyed by the Economic Intelligence Unit in eight countries said they wanted some control over the personal data that is routinely gathered.

Conclusion:

IoT is now a sizable sector that focuses on both B2C and B2B industries. It can be challenging to comprehend what is happening right now in the IoT sector and on the international marketplaces because there are so many moving parts.

That is precisely why we have carefully gathered the 34 IoT statistics that we believe to be the most significant markers of its growth.

They should not only be intriguing to you but also aid in your understanding of this sector and the markets it serves.

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