The Internet of Things (IoT) is becoming more and more integrated into our daily lives, but it seems like few people really understand what it is, what it can do, or just how ubiquitous it really is. The twenty following stats and facts will likely surprise you with just how commonly used IoT is now and will be in the future.
- In 2018, the number of IoT-connected devices will surpass mobile devices.
- It’s projected that by 2020, 75% of new cars will come with built-in IoT connectivity.
- There were already more things connected to the internet than there were people on Earth as early as 2008. It’s predicted that there will be more than 50 billion things connected to the internet by 2020.
- 87% of people don’t actually know what “the Internet of Things” means.
- General Electric believes that the IoT can be used to improve oil and gas exploration. Just a 1% improvement could result in $90 billion in savings.
Business Stats (from Cisco Report May 2017)
- Nearly 75% of IoT business projects are failing.
- Roughly 80% of companies fear they lack the skills to make sense of all the data the IoT provides.
- The top five reasons for project failure included “time to completion, limited internal expertise, quality of data, integration across teams, and budget overruns.”
- “Collaboration between IT and the business side” was cited by 54% of business leaders as the reason they succeeded in an IoT project, followed by “a technology-focused culture” (49%) and “IoT expertise” (48%).
- At least 61% of business leaders believe that they “have barely begun to scratch the surface of what IoT technologies can do for their business.”
- It’s projected that, by 2020, 40% of IoT technology will be health related, more than any other category.
- Globally, 60% of healthcare organizations have already introduced the IoT into their facilities.
- Some of the current uses of IoT include insulin delivery, activity trackers during cancer treatment, ingestible sensors, depression-fighting apps, and coagulation testing.
- It has been predicted that the IoT can cut down costs from clinical and operational inefficiencies by 25%, or $100 billion per year.
- Cyrcadia Health released a smart insert that can be worn under any bra and can detect early stages of breast cancer. After five years of development, it has “an 87% correlation to a verified, clinical diagnosis of breast cancer.”
- The first IoT device came in 1982 when Carnegie Mellon University modified a Coke machine to report its inventory and give updates on whether newly loaded drinks were cold.
- Right now, the most popular use of IoT is with smart home devices—including smart thermostats, smart fridges, connected lights, and smart door locks—followed by wearable technology, such as smart watches, activity trackers, and smart glasses.
- Smart clothing products are now available or coming soon.
- Compression shirts that track your motion and heart rate
- Running shorts that measure cadence and ground contact time and stride length and also broadcast this data in real time to coaches
- Smart socks that monitor an infant’s heart rate and breathing
- Smart jackets that allow you to interact with your phone without touching it
- In one survey, 57% of smart device owners say their gadgets save them time, 45% say the devices save them money, and 72% say the technology makes them feel safer.
- There is now a smart mirror that will analyze your face for wrinkles (so you can know exactly how effective those creams are). It can also play music to you.
Are you using the Internet of Things in a unique way to make your life better and easier? Make sure that you have the best internet service for all those connected devices and begin automating your home today!