As of 2024, *** billion U.S. dollars were spent on the Internet of Things (IoT) technology worldwide. It was a substantial decrease from the last year and, overall, the lowest result within the document years.
Why IoT
Security is increasingly becoming a major concern for businesses. In fact, when asked why they were adopting Internet of Things, the majority of European IoT adopters stated that the reason was to improve security. In fact, over *** billion U.S. dollars were spent on IT security in 2019 worldwide. Reducing operational costs and improving efficiency were also popular motivations for adoption IoT.
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Various sources. (January 17, 2024). Prognosis of worldwide spending on the Internet of Things (IoT) from 2018 to 2024 (in billion U.S. dollars) [Graph]. In Statista. Retrieved July 12, 2025, from https://www.statista.com/statistics/668996/worldwide-expenditures-for-the-internet-of-things/
Various sources. "Prognosis of worldwide spending on the Internet of Things (IoT) from 2018 to 2024 (in billion U.S. dollars)." Chart. January 17, 2024. Statista. Accessed July 12, 2025. https://www.statista.com/statistics/668996/worldwide-expenditures-for-the-internet-of-things/
Various sources. (2024). Prognosis of worldwide spending on the Internet of Things (IoT) from 2018 to 2024 (in billion U.S. dollars). Statista. Statista Inc.. Accessed: July 12, 2025. https://www.statista.com/statistics/668996/worldwide-expenditures-for-the-internet-of-things/
Various sources. "Prognosis of Worldwide Spending on The Internet of Things (Iot) from 2018 to 2024 (in Billion U.S. Dollars)." Statista, Statista Inc., 17 Jan 2024, https://www.statista.com/statistics/668996/worldwide-expenditures-for-the-internet-of-things/
Various sources, Prognosis of worldwide spending on the Internet of Things (IoT) from 2018 to 2024 (in billion U.S. dollars) Statista, https://www.statista.com/statistics/668996/worldwide-expenditures-for-the-internet-of-things/ (last visited July 12, 2025)
Prognosis of worldwide spending on the Internet of Things (IoT) from 2018 to 2024 (in billion U.S. dollars) [Graph], Various sources, January 17, 2024. [Online]. Available: https://www.statista.com/statistics/668996/worldwide-expenditures-for-the-internet-of-things/
