IoT by the Numbers: 5 Stats You Need to Know

January 20, 2016

News about the Internet of Things (IoT) is a constantly changing merry-go-round of estimations and predictions. What we do know is that the IoT is big and the IoT is here.

To get a glimpse of the IoT, here are five stats that you need to know:

6.4 Billion

Research firm Gartner, Inc. says that 6.4 billion connected things will be in use worldwide this year, representing a 30% increase from 2015 numbers. The firm predicts that 5.5 million new things will get connected every day in 2016.

That number is the equivalent of the population of Miami or Toronto activating a smart, connected product every day this year.

$151 Billion

A new market research report published by MarketsandMarkets says that the Industrial IoT (IIoT) market will grow to $151.01 billion by 2020.

$14.4 Trillion

The global IoT market will grow to $14.4 trillion by 2022, according to Cisco. Their report points to five main areas that will drive that level of growth. They are: asset utilization, employee productivity, supply chain and logistics, customer experience and innovation.

$1.3 Trillion

A recent report from research firm IDC states that worldwide spending in the IoT will grow from $698.6 billion in 2015 to nearly $1.3 trillion in 2019. “Over the next five years, the industries forecast to have the fastest IoT spending growth will be Insurance (31.8% CAGR), Healthcare, and Consumer,” says a press release from the company.

$686 Million

Virtual reality and augmented reality attracted $686 million in investments last year, says a VentureBeat story based on research from Digi-Capital.

As we’ve pointed out on the ThingWorx blog, 2016 is the year for AR in the enterprise, especially AR combined with IoT. Even Wall Street titan Goldman Sachs agrees that AR is a disruptive technology.

Want to see how we are revolutionizing IoT by bringing AR to the enterprise? Register to experience the worldwide live stream for ThingEvent on January 28, 2016 to see for yourself.