IoT global stats: connected devices and market

The Internet of Things consists of devices connected via the Internet. All kind of smart devices are able to share data among each other, which opens a great door for an amazing world. A world where we can enjoy a better quality of life.

IoT is accelerating so fast that it is estimated that by 2020 there will be 50 billion connected devices. This is a huge prediction if we look at the number of connected devices in 2003 (0,5B). Back in 2008 there were already more devices connected to the internet than there were people on earth. 

This IoT era has been so well received and it is so popular that we can no longer imagine a world that is not connected.  Is it estimated that the average of smart devices pro person will be 6,6 within a year, covering devices such as light bulbs, clocks, cars, thermostats, refrigerators, home security systems and cameras, and many other home appliances that can be controlled via smartphones and smart speakers. How many great things are we yet to see in this direction!

China, North America and Western Europe control the IoT market with 67% of the overall IoT installed base. By 2019 there are 7,7% connected cars, 15,4% smart homes, 22% connected health, 26,4% industrial IoT and 28,6% smart cities. The government sector is the slowest to adopt IoT, security is still the main concern about this technology. 

The growth rate of IoT has been so high, that many business leaders aren’t sure what IoT means for them and their business. Some are scrambling to create a connected product to keep up with the competition or be part of this big trend. There is still a lot to learn about IoT and doing it well. What we can say for sure is that, with the rush to market approach and small budgets there is not much time or budget to make these devices secure.

We do expect some sore of regulations coming it to do this, because the market itself has not been able to do it.