How will the Internet of Things (IoT) affect companies and their customers in the coming years? From coffee machines to security cameras, more and more of the objects we come into contact with are now networked. As connected devices become ever more common, here are some amazing IoT statistics:
1.There were an estimated 15.4 billion IoT devices in 2015, and this number is predicted to rise rapidly to 30.7 billion in 2020 and more than double to 75.4 billion in 2025.
2. In 2016, 288.3 wearable devices were sold, IDC forecasts the number to rise by 82.5 million per year by 2020.
3. General Electrics has predicted that IoT will add $10 – $15 trillion to worldwide GDP growth within the next 13 years, with opportunities for companies in all industries.
4. IoT systems have helped the city of Barcelona save $58 million a year on water and $37 million by using smart street lights. IoT initiatives in the city have helped also created 47,000 new jobs.
5. In 2012 only 2% of cars were online, by 2020 the number of cars connected to the IoT will leap to 90% driven by improvements to in-car entertainment and by autonomous driving.
6. IoT-connected clothing may not be big business now, in 2015 there were 968,000 smart clothing units sold, but the number is predicted to explode to reach 24.75 billion in 2021, a phenomenal compound annual growth rate of 71.6%.
IoT is already changing the way we live and work, but these forecasts suggest connected devices will become increasingly ubiquitous in the coming years, with huge opportunities for businesses and consumers alike.
Sources: IHS, IDC, General Electric, Harvard University Report, Telefonica, Reportbuyer
Margaret Kelly, Marketing Assistant at K2 Partnering Solutions HQ in London.