72+ Eye-opening IoT Statistics, Facts, & Trends For 2023

72+ Eye-opening IoT Statistics, Facts, & Trends For 2023

IoT statistics uncover the impressive growth that IoT devices have witnessed in recent years and their impact on various industries. With real-time data streaming and storage in databases, IoT has revolutionized how businesses capture, analyze, and leverage valuable insights from the large volumes of information generated by interconnected devices.

As we step into the future, it's crucial to take a moment and appreciate the remarkable strides made in IoT and the trends shaping the industry today. With the advent of smart homes and connected cars, we have witnessed just a glimpse of what IoT has in store for us. As we look to the future, it's exciting to anticipate the endless innovations and advancements that will continue to shape our world.

In today’s article, we'll explore the astonishing IoT statistics, facts, and trends. From the growing number of connected IoT devices to the projected industry growth, we'll cover it all. In just 10 minutes, this guide will give you all the necessary information about the current state of the IoT industry and provide practical insights on how to optimize your systems based on your specific niche.

Let’s start with our top picks for the best IoT statistics:

  • Cisco's latest annual forecast predicts that 71% of the world's population will be mobile subscribers by 2023.
     
  • Currently, the total data volume generated in the world is around 120 zettabytes of data. By 2025, it is expected that IoT devices alone will generate 73.1 zettabytes of data. 
     
  • There will be 152,200 IoT devices connecting to the internet every minute in the year 2025.
     
  • Smart factories in North America are expected to add around $500 billion to $1.5 trillion to the economy in the next five years.
     
  • Companies will invest up to $15 trillion in IoT by 2025.
     
  • By the end of 2025, it is estimated that 57% of all households in the United States will have smart home devices.

Interested in discovering more astounding and compelling IoT figures? Read on.

21 Key Statistics About IoT In Various Industries

The Internet of Things (IoT) has been revolutionizing various industries, bringing about increased connectivity, enhanced productivity, and numerous other benefits. By leveraging IoT, businesses across sectors are unlocking new opportunities for growth and innovation.

Following are some interesting stats about industries:

1. Improved Efficiency

Companies expect IoT and other digital technologies to improve efficiency by 12%.

2. Biggest Robot User In The World

China uses more industrial robots (many of which are internet-connected in some way) than anyone else in the world.

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3. Biggest Users Of Robots

Asia and Australia are the biggest users of industrial robots, currently using over 60% of all worldwide industrial robot units.

4. Growth Of The Manufacturing Industry

Manufacturing IoT grew 84%, by far the highest of any industry. 

5. Digital Factories

In Germany, 91% of industrial/manufacturing businesses invest in “digital factories” that include IoT solutions.

6. Manufacturing Industry Growth

The manufacturing industry poured $237.59 billion into IoT in 2021 at a compound annual growth rate (CAGR) of 8%.

7. Industrial Spending

IoT Analytics predicts the manufacturing industry spent over $64 billion on IoT in 2018 and expects Industry 4.0 spending to increase to $310 billion by 2023.

8. Supporting Tech For Industrial IoT

6 supporting technologies to look out for in Industrial IoT are additive manufacturing (3D printing), augmented and virtual reality, collaborative robots, connected machine vision, drones / UAVs, and self-driving vehicles.

9. Share Of Industrial IoT

Industrial IoT makes up 17% of all global IoT projects.

10. Industrial IoT Applications

Major applications of Industrial IoT include real-time production and inventory monitoring, fleet management, and predictive maintenance.

11. IoT In Drone Technology

Commercial drones are a major tool in industrial IoT. Over 40% of commercial drones are used for industrial inspection.

12. Business Perception About IoT

95% of construction business operators believe emerging technologies (including IoT) will fundamentally change their industry.

13. Adoption Of IoT

In 2021, 81% of construction companies said they were planning to introduce IoT solutions and robotic automation into their operations during the coming decade.

14. Precision Agriculture

Precision agriculture was valued at $6 billion in 2020 and is expected to expand at a CAGR of 13.1% from 2021 to 2028.

15. Global Agriculture IoT Market Size

The global agriculture IoT market size was valued at $12.75 billion in 2022 and is expected to reach $15.68 billion in 2023.

16. Most Adopted IoT Technology In Agriculture

IoT Guidance systems (e.g., GPS) had the highest rate of adoption across the agriculture industry and were used on between 45% and 65% of planted crop acres.

17. IoT Market Size For Agriculture 

The IoT-based smart agriculture market is expected to reach $22 billion by 2025. This growth is driven by the increasing use of RFID, GPS, drones, and sensors to automate farming processes and gather data.

18. Percentage Of IoT Projects-Agriculture

Only 4% of all global IoT projects are related to Smart Agriculture, according to IoT analytics.

19. Agricultural IoT Applications

For agriculture, IoT is applied for monitoring soil conditions and crops, and autonomous agricultural equipment, among other things.

20. Auto Sector Revenue

The IoT in the Auto sector is on track to record $23.6 billion in revenue by the year 2025.

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IoT data is generated at an incredibly fast pace in different industries. This high volume and rapid speed of data present technical difficulties too. However, real-time data pipelines, such as ETL pipelines and streaming applications, can help tackle these challenges effectively.

11 Important Statistics & Facts On IoT In Healthcare

Healthcare has been at the forefront of embracing IoT technology which brings both benefits and risks. This industry is a perfect example of how IoT can transform an essential sector for good.

Let's start by talking about the size of the healthcare IoT market.

21. Healthcare IoT Market Size

The IoT healthcare market is expected to be worth $289.2 billion by 2028.

22. Biggest Player In Healthcare IoT Market

North America was the largest market for IoT in healthcare with a revenue share of 37%.

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23. IoT Devices In Healthcare-EU

In 2022, there were approximately 6 million active healthcare IoT devices in the EU. It is predicted that this number will increase to nearly 12 million healthcare IoT connections by 2026.

24. IoT Devices In Healthcare

An estimated 646 million IoT devices were used in hospitals, clinics, and medical offices in 2020 for efficient data management.

25. Global IoT Project-Healthcare

The health industry is responsible for 6% of global IoT projects, with 55% of those occurring in the Americas.

26. Innovation In Healthcare

80% of healthcare business executives see increased innovation as the biggest advantage of IoT implementation. 73% pointed to cost savings, while 76% pointed to “visibility across the organization” as a key advantage.

27. Usage Of IoT

Over 70% of healthcare organizations that use IoT devices utilize them for monitoring and maintenance.

28. How Is IoT Used In Healthcare?

50% of healthcare IoT is used for remote operation and control and 47% connect their devices to location-based services.

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29. Huge Savings In Healthcare

IoT devices can save healthcare companies $100 billion per year by increasing operational efficiency.

30. Security Breaches

IoT security breaches are a big problem in healthcare. A 2021 study found that 82% of healthcare organizations that use IoT devices had experienced a breach in the past 18 months.

31. Operating System Problems In Healthcare

83% of medical imaging devices use unsupported operating systems, making them vulnerable to cyberattacks.

7 Astonishing Facts About IoT Security

The increasing significance of securing and integrating IoT networks is directly proportional to the growth of the IoT market. Here are some stats related to IoT security.

32. Common Security Threats

The most common security threats to IoT are malware (49%), human error (39%), and DDoS attacks (22%).

33. IoT Security Market

The figure below shows the growth of the IoT security market. The size of the IoT security market is expected to cross $30 billion in the year 2025.

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34. Device Vulnerability

IoT devices are commonly attacked within 5 minutes of being connected to the internet and routers are the gateway for 75% of IoT attacks.

35. IoT Attacks

IoT attacks have been on the rise, reaching over 10.54 million in Dec 2022.

36. Decline In IoT Attacks

The number of global IoT attacks decreased from 10.8 million in October 2020 to around 6 million in October 2021.

37. Civil Rights & Data Control

74% of global consumers are concerned about their civil rights getting compromised by IoT and 92% want control over their personal data collected by IoT devices.

38. Incapacity Of Businesses To Tackle Threats

48% of businesses admit they are not efficient enough to detect IoT breaches on their network.

7 Incredible Stats Of IoT Cellular Connections

Here are some IoT statistics, trends, and forecasts for Cellular IoT connections.

39. Rise Of Smartphone Usage

Smartphones make up the majority of IoT devices, with over 6 billion users in 2021 and still growing tremendously.

40. Cellular IoT Connections

By the end of 2023, cellular IoT connections are expected to reach around 3.5 billion.

41. Future Of Cellular Connections

40% of all cellular connections are expected to be IoT-based by the end of 2027.

42. Broadband IoT

Broadband IoT, mainly comprising 4G and 5G connections, exceeded 1 billion connections in 2021.

43. IoT In Cars

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According to IoT forecasts, the segment of connected cars will grow from 0.39 million in 2021 to 19.09 million in 2023.

44. 5G Technology Rise

The overall 5G installed base is predicted to reach approximately 49 million in 2023.

8 Staggering Statistics & Facts About IoT Devices

Let's see some staggering stats about IoT devices and their scale.

45. More Internet-Connected Devices Than People

By the end of 2023, there will be 3 times more internet-connected devices than people on the planet.

46. Quick Rise In Total Number Of IoT Devices

In 2022, there was an 18% increase in the number of IoT devices which reached around 14.4 billion.

47. Total IoT Devices By The End Of 2023

By the end of 2023, 66% of devices are expected to be IoT connected with an estimated total of 19.8 billion IoT devices.

48. Number Of New Devices

Around 127 devices are connecting to the internet for the first time each passing second.

49. Biggest User Of IoT Devices

China is expected to have the highest number of IoT devices by 2030 with around 5 billion connected consumers.

50. 2025 IoT Device Usage

The percentage of IoT-connected devices is expected to increase to 75% by the end of 2025.

51. More IoT, Less Non-IoT Devices

In 2023, IoT devices have already surpassed non-IoT devices by a big margin.

 

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52. Sensors & IoT

Over 34% of all deployed sensors in 2022 were dedicated to IoT applications.

Handling the vast amount of data generated by these sensors requires efficient solutions for high-speed, real-time data transfer and processing. 

This is where our ETL solution, Estuary Flow, can help. Flow abstracts away the complexities of data engineering and allows you to focus on extracting insights and value from their data without the need for specialized technical skills. By leveraging Flow's automated CDC capabilities, you can efficiently identify and capture only the changed data from your streaming sources.

Estuary Flow is designed to handle the velocity and volume of streaming data for high-speed data transfer and processing. Our platform utilizes efficient data ingestion techniques and supports various data formats so you can seamlessly handle data from diverse sources.

7 Astounding Facts About IoT Spendings

Let's talk about global IoT spending and who the big players are in the IoT market.

53. Growth In The Spending

Global IoT spending has been consistently growing since 2018 by at least $40 billion each year.

54. Global Spending

In 2022, worldwide IoT spending reached around $1 trillion.

55. IoT Forecast For 2023

According to IoT forecasts, global IoT spending is estimated to cross $1.1 trillion in 2023.

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56. Biggest Player In The Spending

Asia is the biggest player, with 1/3 of the Global IoT spending.

57. Other Big Players

2nd and 3rd spots are for North America and EMEA (Europe, Middle East, and Africa) regions.

58. Video Segment Dominates

Video entertainment dominated smart home spending in 2021 and 2022. It's still expected to be the largest category in 2023.

59. Consumer Spending

Consumer spending on smart home devices has been increasing steadily since 2015 and is expected to peak at $173 billion by 2025.

6 Unbelievable Facts About IoT Market

Here are some IoT market statistics.

60. IoT Market Size & Future Growth

The current value of the global IoT market is $800 billion in 2023 and is expected to exceed $1.4 trillion in 2027 with a CAGR of 13%.

61. Pandemic Impact

The Covid-19 pandemic has harmed the Global IoT market. Almost $200 billion were wiped out.

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62. Hardware Market Share

Hardware accounts for 30% of the global IoT market. Its global market value is decreasing as per the latest trends.

63. IoT Market Size For Connected Cars

The global IoT market of connected cars is forecasted to be crossing $165 billion in the year 2025.

64. IoT In Fleet Management

The global IoT market of fleet management is estimated to be $55 billion by the year 2026 

65. IoT In Education

Currently, the IoT education market is worth more than $5.31 billion.

6 Interesting Facts & Figures About Smart Cities

Smart city initiatives are gaining popularity globally as countries invest to modernize urban infrastructure and enhance sustainability and efficiency.

66. Smart Cities-Percentage Of IoT Projects

Smart cities account for more than 20% of all publicly announced IoT projects.

67. Number Of Smart Cities

Currently, there are over 2,000 smart cities worldwide.

68. Global Investment In Smart Cities

Global investments in smart city technology reached $158 billion in 2022 and it is projected to hit $158 billion by 2025.

69. Number Of IoT Devices In Smart Cities

Globally, there are more than 26 billion smart city IoT devices in operation and the number is predicted to increase to 50 billion by 2025.

70. Smart Cities Revenue

In 2023, smart city technologies, products, and services are expected to generate a revenue of 89 billion U.S. dollars worldwide.

71. Countries With The Highest Number Of Smart Cities

Recent research shows that the US has 50 smart cities, the highest number globally, followed by China with 45, and India with 25. The UK and Japan have 10 and 8 smart cities, respectively.

Amazing IoT Venture Capital Stats

72. Percentage Of VC Deals In The IoT Industry

Venture Capital deals in the IoT space accounted for 11.1% of all deals in 1st half of 2021

73. Growth Of VC Investments In IoT

At the beginning of 2022, VC investments in IoT amounted to nearly $1.2 billion, significantly higher than the $266 million recorded in the first quarter of 2021.

Conclusion

As shown by these IoT statistics, the increasing adoption of IoT devices and technologies is reshaping and revolutionizing many industries and services. From smart homes and wearable devices to industrial automation and smart cities, IoT is transforming the way we live and work.

With each passing year, we are witnessing the rise of interconnected devices and the proliferation of data-driven solutions. The potential is limitless and we can't wait to see what the coming years have in store for us.

Data plays a crucial role in the IoT ecosystem. The sheer size of data generated by IoT devices can be overwhelming but it presents immense opportunities for insights. This calls for robust data pipelines that can handle the volume, velocity, and variety of IoT-generated data. 

At Estuary, we developed Flow to help you set up and scale your real-time data pipelines with ease. With Estuary's Flow, you can unlock the true potential of your real-time data, fuel innovation, and gain a competitive edge in today's data-driven landscape.

So if you are ready to transform your business through the power of real-time data analytics, sign up now to try Estuary Flow for free.