State of IoT 2022: The number of connected IoT devices growing 18% to 14.4 billion globally
IoT Analytics, this week published a 114-page report on the “State of the Internet of Things – Spring 2022 edition”.
State of IoT 2022: Connected IoT devices grow 18% worldwide to 14.4 billion
IoT Analytics released a 114-page report this week on “The State of the Internet of Things – Spring 2022 Edition.”
IoT Connectivity Market Update – May 2022
Chip shortages are slowing the recovery of the Internet of Things (IoT) market, according to our latest State of IoT-Spring 2022 report released in May 2022. The number of global IoT connections will grow by 8% to 12.2 billion active endpoints in 2021. , which represents significantly lower growth than in previous years.
Despite increasing demand for IoT solutions and positive sentiment in the IoT community, as well as in most IoT end markets, IoT Analytics expects the impact of the chip shortage on the number of connected IoT devices to persist beyond 2023. Other headwinds for IoT markets include the continued COVID-19 pandemic and general supply chain disruptions. The IoT market is expected to grow by 18% to 14.4 billion active connections by 2022. By 2025, as supply constraints ease and growth accelerates, there will be an estimated 27 billion connected IoT devices.
IoT in 2022: Current Market Mood
Current business sentiment for digital and IoT companies remains largely positive, even from the highs of Q4 2021. It is widely recognized that Covid-19 will have an overall positive impact on the rapid adoption of IoT technologies. Quotations from CEOs of IoT vendors and sentiment analysis from earnings confirm this. The highest sentiment is in companies that offer connectivity services (117 sentiment score), general software (115), cyber security (113), and cloud (113).
“Strong demand re-emerged in our end markets [in Q1 2022]. Overall, we continue to forecast favorable demand conditions to continue into the second half of this calendar year. – Phil Gallagher, Avnet CEO
“We see continued momentum in key IoT markets, including industrial, enterprise, energy, and first-tier, as more companies gather business-critical data from the network. COVID-19 is accelerating Industry 4.0.” – Phil Brace, CEO, Sierra Wireless
Regionally, North America (116) leads sentiment, with APAC (103) lagging behind, particularly in China, where new COVID-19 lockdowns are seen as the main threat to business growth in the region.