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Connected Spaces Trends & Statistics for 2018

IoT is transforming all industries. Want to see how it’s affecting yours? This is a great place to start.

You’ve all seen the video right? The one where the Google Assistant or the Amazon Echo controls everything around you. From music, to the lighting, your fridge and how you watch TV. Well this is just the surface. Underneath the things you can touch and speak to, lies a series of systems that are about to connect your home in ways you may not even realize.

Then you have the permeation of wider spaces. Your office, hospital, the school your children attend. The Connected Space is going mainstream. It may not be an explosion, more of a steady period of growth, as more and more devices join the network, but it is happening. If you want to know how it’s going, check out this latest round of stats and trends for 2018.

IoT trends and statistics

IoT Use

1. Only 0.06% of all devices that could potentially leverage IoT are actually doing so. This makes the remaining 99.94% available for optimization.

2. 32% of companies have not incorporated IoT into business operations.

3. Google Trends research implies that voice searches have increased by more than 35x since 2008 (mainly due to the launch of the iPhone with Google voice search).

4. Cisco believes that more than 50% of the connected objects added during 2013-2020 will be added in the last three years of the decade when the connectivity costs are at their lowest.

IoT use in Retail

5. Industrial sensors, advanced RFID tags, beacons, in-store analysis and connected manufacturing machines have already made it to the market. These connected devices are expected to increase from 2.5 billion in 2017 to 5.4 billion IoT devices in 2020.

6. Though the mass adoption of smart devices is expected in the long run, most consumers (87%) aren’t aware of the meaning of “The Internet of Things.”

7. 78% of retailers say it’s “business critical” that they integrate omnichannel experiences into their stores.

8. Collecting, analysing and acting on this data is essential for the success of a store. Using only a little technology, Accenture’s own Internet of Things (IoT) platform processes 350-million slivers of information each month.

9. 89% of early adopters in retail benefited from insights about customer preferences and behaviors, that they gained from an Internet of Things device.

10. 77% of retailers see IoT as a mean to change the customer experience.

11. By 2021, retailers will have invested in machine learning/cognitive computing (68%) and automation (57%).

12. By 2021, nearly 79% of retailers will be able to customize the store visit for customers as a majority of them will know when a specific customer is in the store.

IoT use in Hospitality

13. A smart energy management system that knows when a guest room is unoccupied or unsold can reduce energy consumption by as much as 20 to 45%, just by automatically adjusting the temperature.

14. 84% of operators are planning to have hotel-branded customer loyalty apps within the next 18 months.

15. The hospitality industry is one of the biggest spenders as far as IoT is concerned. Close to $128 million was spent in 2015 per company across the world which is much more than other sectors like manufacturing or banking.

16. Once a technology playground of on-demand content and flat screen TVs, the guestroom has become a challenging area for hotel technology. More than half of hotels (56%) said that guestroom technology upgrades will be a priority in years to come.

Corporate communications

17. According to a Harvard Business Review survey, companies are already seeing important benefits of IoT-based initiatives, and 58% respondents say they have seen increased collaboration within their business because of them.

18. Experts predict more than half of new businesses will run on IoT by 2020.

19. 54% of companies believe IoT will increase employee productivity .

20. Collaboration between IT and business 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%).

Healthcare

21. It is estimated that only 50% of medications are taken on schedule and as prescribed. One example of how IoT can impact this area is the Smart Pill Bottle.

22. March 2017 research from Aruba Networks found that by 2019, 87% of healthcare organizations will have adopted Internet of Things technology and 76% believe it will transform the healthcare industry.

23. 73% of healthcare organizations use IoT for maintenance and monitoring.

24. Nearly 64% of IoT use in the healthcare industry is patient monitors.

Education

25. Now, instead of taking classes in traditional schools, nearly six-million students across America are enrolled in online courses.

26. Most students’ (an incredible 93%) first instinct when confronted with a research problem is to turn to Google or Bing to get information rather than going to the library

27. 27% of schools have an online community for teachers and administrators.

So there it is, more than 25 sources of IoT trends and statistics pointing towards the future of our schools, stores and offices. Is IoT changing the way you work or do business? Let us know your thoughts, @screencloud.

Sources:

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