Reading Time: 5 minutes

natc-internet-of-things

Statistics on IoT Device Security, security like Technology is evolving, and there is no doubt that it will continue to play a role in our daily lives. Despite popular belief, the Internet of Things, or IoT, is not a new technology. In fact, the Internet of Things has been around since the 1980s. IoT is made up of interconnected devices that allow users to access remote functionality in real time. Businesses have begun to recognise the value of IoT investments in recent years. Here are some IoT statistics you should be aware of.

 

At a glance

IoT is advancing and expanding at a steady rate as artificial intelligence (AI) and machine learning technology improve. Quality service providers, IoT connections, wearables, 5G, and other enabling technologies are assisting in the global development of smart cities, big data, smart homes, increased automation, and increased connectivity.

The Internet of Things is made up of physical devices that communicate with one another via a network or internet connection. You’re using IoT if you can control it from another device.

Some popular examples of IoT include:

  • Smart Home Hubs like Alexa or Google Home Hub
  • Smart doorbells / Entry Cameras
  • Smart watches and rings
  • Smart appliances and building management
  • Smart thermostats, smoke alarms, flood sensors
  • Smart door locks
  • Vehicle tracking trackers

General IoT Statistics

There are numerous business and personal applications for IoT.

  • PWC reports that 93% of executives believe the benefits of IoT outweigh the risks.
  • IoT Analytics shows that 545 of IoT projects are driven by cost savings.
  • Global IoT spending is expected to hit $1.2 trillion in 2022, reports IDC.
  • According to Cisco, 500 billion devices are expected to be connected to the internet by 2030.

IoT Market Size & Growth Statistics

The Internet of Things is experiencing steady growth, which is expected to continue as the number of IoT devices increases on a regular basis.

  • In 2021, the global internet of things market will be worth $4.8 billion.
  • According to Fortune Business Insights, the IoT market will reach $1,854.76 billion by 2028, growing at a CAGR of 25.4 percent between 2021-28.
  • IoT revenue is expected to grow to $594 billion in 2022.
  • Connected IoT devices is expected to reach $15.9 billion by 2030.

Statistics on IoT Device Security

Because of IoT connectivity, our devices are constantly communicating on networks and with other technologies in order to help us be more efficient. However, much of that data continues to flow indefinitely without being protected by the necessary security protocols.

  • The IoT security market is expected to reach $18.6 billion by 2022. Kaspersky reported 1.5 billion IoT cyberattacks in the first six months of 2021, a number that was up from 639 million in all of 2020.
  • According to Gartner, IoT will be used in more than 25% of all cyberattacks against businesses.
  • According to Statista, endpoint security will be worth more than $19 billion by 2025.
  • According to CompTIA, 63% of companies say IT security is a critical skill for IoT.

IoT in Healthcare

IoT devices are extremely useful for monitoring patients and communicating data to healthcare providers for review and diagnosis. During the pandemic, the need for telehealth made IoT ideal for many healthcare applications. According to Forbes, much of the health-specific predictive capabilities rely on big data, which combines internal and external data sources, which is essential in IoT, allowing for better data leveraging and greater insights into patient health.

  • The IoT healthcare market is expected to grow at a compound annual growth rate of 19.8 percent from $60.83 billion in 2019 to $260.75 billion by 2027.

Internet of Things in Technology

IoT technology has far-reaching implications that go far beyond individual consumers. Smart cities are being developed by forward-thinking municipalities as part of a connected technological world, for both personal and professional efficiencies.

Agriculture IoT Stats

IoT has significant value in the agriculture industry, supporting sustainable growth in the face of rising food demand and supply chain resilience while reducing the need for manual labour. Farmers can use agriculture IoT to monitor conditions such as light exposure, humidity, soil moisture levels, overall crop health, and irrigation levels. Self-driving tractors, livestock checks, and the use of drones for remote monitoring all contribute to increased farm efficiency.

 

 

HOW IT WORKS

GET AN IT SOLUTIONS QUOTE

We’ll chat about your business, how you use technology, and what you want to get out of IT.

Lets Talk

 

We’ll chat about your business, how you use technology, and what you want to get out of IT.

Choose Your Plan

 

If we’re the right fit, you’ll choose the IT service agreement that works best for your organization.

Start Your Experience

 

Within days, you’ll be experiencing IT like never before.

How many people work for your Organisation?*
Consent*
This field is for validation purposes and should be left unchanged.