As we bid farewell to 2022, global IoT spending has reportedly exceeded USD 1 trillion. We are anticipating some major changes as we begin the new year. Before that happens, take a look back at the Internet of Things in 2017.
What to expect? In this article, we will look at some of the most important IoT stats for 2023. We will explore the growth expected of the IoT and the number of devices that will be used. We will also examine the top countries and industries for IoT adoption, as well as the popular use cases for the devices.
IoT Statistics for 2022
In 2022, the IoT continued to grow at a rapid rate. Over 14,4 billion IoTs were in use. Here are some facts and figures from the last year.
- Healthcare, transportation, energy, and manufacturing were the top five industries that IoT was used in.
- The United States, China, and Japan were the top five countries in terms of IoT.
- Asset tracking, predictive maintenance, and condition monitoring are the top five use cases of IoT.
- The most rapidly growing IoT vertical was the supply chain in 2022.
- According to IoT Analytics, there were no major IoT Security breaches by 2022.
- Google has discontinued its IoT verticals.
- The European Union has published the Cyber Resilience Act in order to standardize manufacturing and security for digital products.
- Connectivity Standards Alliance has released Matter 1.0 as their home automation standard.
This year has seen many amazing events, and there will be more to come. IoT devices have become more common in all industries and countries around the globe. The benefits these devices offer to businesses and consumers are driving this growth.
IoT devices, for instance, can be used in healthcare to monitor the vital signs of patients and give early warnings about potential health issues. IoT devices are used in transportation to optimize routes and monitor traffic conditions.
IoT Statistics for 2023
We are not looking at another revolution of the sun in 2023 but rather some major technological developments across all industries. IoT is bringing about new standards and innovations that are absolutely mind-blowing. It is incredible to see the data that can lead to more.
The global IoT industry is expected to reach $1 trillion in 2023.
According to a new report from International Data Corporation (IDC), the global IoT is expected to reach $1 trillion by 2023.
IoT has already had a significant impact on these industries. Asset tracking, predictive maintenance, and condition monitoring are just a few of the many use cases.
What does this mean to businesses? It’s time to investigate how IoT can help your business. IoT applications are nearly limitless. There’s bound to be one that will help you improve your business’s efficiency or bottom line.
This year, the number of IoT devices will surpass 15 billion worldwide.
IoT devices will surpass 15 billion in 2019, which is 55% more than 2020. Additionally, it is expected that these devices will generate 25 in 2015 to 620 in 2019. In the next few years, IoT platform numbers will likely continue to increase. IoT platforms are rising due to the growing demand for IoT services such as device and data management, analytics, security, and privacy.
IoT platforms allow businesses to connect devices and sensors with the internet and among themselves while monitoring the health and functionality of the devices.
For another year, the chip shortage will continue slowing down IoT growth.
IoT devices need chips to work, and the global shortage of chips has been a major barrier to the growth of IoT.
In recent years, the world has seen a shortage of semiconductors due to many factors, including a severe drought in South Korea and a pandemic around the globe. Other factors include disruptions in supply chains, market conditions, etc. This was a major setback for the IoT industry, as semiconductors are used to make all IoT devices.
The shortage of chips is expected to last another year and will slow the growth of IoT.
The MCU market will continue to grow in leaps and bounds over the long term.