When you stop and think about it, the Internet of Things (IoT) is an amazing notion (even though people aren’t too fond of the name). If you could tell someone from 1999 that everything—from watches to toasters to houses—would someday be talking to each other, that person would probably think you were crazy. Yet here we are in a world of connected devices. And when you look at how far connected devices have come over the past decade, it’s exciting to think about where it will be ten years from now.

The number of connected devices is growing rapidly, and IoT is becoming an integral part of businesses and society as a whole. To show you just how important (and impressive) it is, here are 12 mind-boggling Internet of Things statistics. 

What Growth Looks Like Through 13 Internet of Things Statistics

1. By 2017, the IoT market will surpass the PC, tablet, and phone market combined. (Source)

2. 82% of companies will have IoT applications implemented into their business in some way by 2017. (Source)

3. With IPv6, we will have 340,282,366,920,938,463,463,374,607,431,768,211,456 possible Internet addresses. (That's 100 for every atom on the face of the earth.) (Source)

4. According to Cisco, only .06% of things that could be connected to the Internet currently are, which means 10 billion things out of the 1.5 trillion that exist globally are currently connected. (Source)

5. A recent finding from IDC predicts that the worldwide IoT market will grow to $7.1 trillion by 2020, compared to $1.9 trillion in 2013. (Source)

6. The smart home industry was the leading industry in the IoT market in 2014 with $79.4 billion in revenue, followed by smart cities at $59.2 billion and smart building/infrastructure at $25 billion. Those numbers are expected to increase substantially by 2020. (Source)

7. Service organizations save $970/year per fleet vehicle due to the benefits of IoT. Total savings for an organization could range from $5,000 to $50,000 a year depending on the number of vehicles they use. (Source)

8. 94% of businesses see an ROI from M2M communication. (Source)

9. Global cumulative smart meter deployment increased by 500% between 2008 and 2012, from 46 million to 285 million meters installed, with a further increase to almost one billion installations projected before the end of 2018. (Source)

10. It can take 4-6 technology and communications suppliers to create an M2M solution. (Source)

11. By 2020, it’s estimated that 90% of cars will be connected to the internet as compared to 10% in 2012. (Source)

12. Gartner says there will be 26 billion connected devices by 2020. Cisco says there will be 50 billion, Intel says it will be 200 billion, and the IDC says 212 billion. In any case, these are all really big numbers. (Source)

Obviously some pretty big things are happening in the Internet of Things (and it looks like 2020 will be a big year). Companies are racing to get everything connected, and wireless technologies like Bluetooth, WiFi, and Symphony Link are making it all possible. We’re eager for the future of the IoT and happy to provide some of the building blocks and glue to make all these connections happen. What are some of the craziest IoT apps you’ve seen in the marketplace?

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Jennifer Halstead

Written by Jennifer Halstead

Jennifer Halstead, MBA, CPA brings more than 20 years financial industry experience to Link Labs. She began her career in finance within the pharmaceutical industry and has continued in both public accounting and private companies. She passed the CPA exam with the 3rd highest score in the state and completed her MBA with an accounting concentration (summa cum laude). Jennifer has worked with several software companies and has led multiple venture financing, merger and acquisitions deals. She has helped companies expand internationally and has managed the finance department of a startup to 33 consecutive quarters of growth prior to acquisition. After the acquisition, she served as the Controller of Dell Software Group’s Data Protection Division where she managed a portfolio of multiple hardware and software products to scale and achieve over triple-digit growth worldwide in 18 months. Jennifer brings a depth of finance experience to the Link Labs team.

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