Lionel Sujay Vailshery
Research expert covering cloud computing and emerging tech industries
Internet of Things (IoT) in the U.S. - statistics & facts
As technology advances, an increasing number of gadgets are joining the internet revolution, creating endless possibilities for seamless communication and coordination with their users. These electronic devices, ranging from laptops to thermostats to automobiles, are connected together to form a network known as the Internet of Things (IoT). By 2024, the number of IoT devices is expected to reach over 17 billion, that is twice the number of people on Earth, which shows how integrated technology is becoming.
IoT in the United States
The North American market is one of the largest in the world, and U.S. based companies such as Google, Cisco, and IBM are some of the leading names in the field. By 2030, an estimated eight billion IoT connections are forecast for North America alone. The ability of the North American IoT market to more than double in value over the course of just a few years comes down to the wide range of applications and industries that can benefit from this increased connectivity of devices. Since the first IoT device, a "smart" vending machine on the Carnegie Mellon University campus, the phenomenon has spread in scope from basic smart devices to smart homes, smart buildings, and even smart cities.
Growth of IoT segments
As the revenue figures grow, so do the number of individual IoT compatible devices. Smartphones, fitness trackers, portable wireless speakers, and internet-enabled TVs are some of the most popular consumer smart devices, with each accumulating tens of millions of shipments each year. In the past few years, smart homes have grown in popularity with smart speakers such as the Google Nest and the Amazon Echo have proved themselves valuable additions to American households.
Popularity of IoT technology
The popularity of IoT devices isn’t limited to just households; businesses across the United States are also taking advantage of IoT-based technologies to streamline processes and increase efficiency. Around 57 percent of North American and European organizations currently use IoT technology within their business operations.
