Intro
Do you find it challenging to keep up with all the latest innovations and developments in the tech world? You’re not alone that’s for sure. The tech industry has come on in leaps and bounds over the past few decades and has become a vital part of so many areas of our lives that it’s hard to separate it.
If you want to know more about the tech industry’s worth, demographics, trends, and more, the following tech industry statistics will be enlightening.
General Technology Statistics
Let’s get the ball rolling with some general tech industry statistics.
- In the US, the tech industry market is worth around $1.6 trillion.
- Hardware, software, and services make up 56% of the technology industry.
- Zippia reports that the tech industry makes up 35% of the total world market. 90% of the world’s data was generated between 2019 and the present.
- The Big Four (Amazon, Apple, Google, and Facebook) are collectively worth $4 trillion.
Technology Growth Statistics
With every day that passes, technology continues to grow at a steady rate. Did you know it’s one of the fastest-growing sectors in the world?
- US tech goods and services exports reached over $300 billion in 2020.
- Data recovery and protection industry is expected to grow by over 9.7%.
- In 2022, 264,500 tech industry jobs were added to the market.
- The US tech market accounts for over one-third of the total world market.
- In the US, there are over 585,000 tech companies.
- Tech employees earn up to 85% more than those in other industries.
- North America, Asia, and Europe comprise most of the world’s IT industry.
Internet Statistics
The world has become a different place thanks to the World Wide Web. Find out how much people spend surfing and what they prefer to do online.
- In 2019, 22 billion devices were connected to the internet.
- 22% of Google searches are now voice searches.
- In 2022, smartphones were responsible for almost half of total IP traffic.
- Over 40% of the world is expected to be covered by 5G networks in 2024.
- Around one-quarter of devices connected to the internet use ad-blocking.
- Every day, over 90,000 websites get hacked.
- Out of 4.8 billion internet users on social media, 93.33% are active users.
- The VoIP market is expected to hit %145 billion by 2024.
Communications Statistics
Thanks to technology and the internet, businesses rely less on phones and more on digital forms of communication.
- Around 71% of consumers consider texting as an effective form of business communication.
- The VoIP market is expected to hit %145 billion by 2024.
- By 2024, Android OS is predicted to dominate mobile VoIP.
- Companies using VoIP enjoy savings of up to 75% on their communication efforts.
- The preferred everyday communication tools of millennials are email (58%), instant messaging (31%), phone (29%), face-to-face meetings (20%), and social media (13%).
- 95% Of Your Customer Interactions May Be AI-Powered By 2025
- 67% of companies are choosing to transfer a significant part of their unified communications to the cloud.
eCommerce Statistics
Thanks to the pandemic, online retail experiences have become part and parcel of daily life.
- The number of eCommerce users is expected to rise to 4.913.9 million by 2025.
- The global retail eCommerce CAGR is 8.1% from 2020 to 2024.
- In 2019, shopper conversion rates, globally, were 2.58%.
- Digital interactions influence $0.56 of every dollar spent in a physical store.
- Travel was eCommerce’s largest segment with a volume of $750.7 billion.
- 89% of consumers have visited an online retail store on various devices.
- 74% of users have purchased a product online.
- Social media influences 71% of purchasing decisions.
- 66% of buyers have used a shopping app to complete a purchase.
Technology Growth
Find out how much technology is growing with these interesting statistics.
- The overall tech industry is estimated to have a growth rate of 5% through 2024.
- Augmented Reality is predicted to have a CAGR of 100% by 2025.
- The Cloud Computing Sector is expected to have a CAGR of 17.5% by 2025.
- The three tech sectors that are growing the fastest are Blockchain DeFi, Artificial Intelligence, and Virtual Reality/Augmented Reality.
- Tech workforce growth rates are expected to double those of other industries.
Mobile Technology Statistics
If you can’t imagine life without your mobile phone, we’ve got lots more to share about mobile technology statistics.
- In 2021, the number of unique mobile users increased by 1.8% over January 2020.
- 90.8% of users access the internet via their smartphones. In 2020, app stores had a record-breaking 218 billion downloads.
- There are 104.40 mobile phone subscriptions for every 100 people.
- 1 in 5 American adults is a smartphone-only user.
AI and Machine Learning Technology Statistics
Source: Ec.europa
Both of these are set for significant growth and expansion in the coming years.
- Can artificial intelligence be a business advantage in the future? 72% of business executives believe it can.
- 55% of chief marketing officers think that AI has a bigger effect on communications and marketing than social media.
- 82% of business execs believe AI could reduce paperwork.
- AI is projected to add $15.7 trillion to the global economy by 2030.
- The top uses for AI include IT automation (47%), quality control (46%), cybersecurity (41%), predictive analytics (38%), and customer service (37%).
- The level of machine learning adoption in 2020 was 63%.
- 62% of companies have adopted Natural Language Processing.
- 61% of internet users believe AI may affect the availability of work.
Virtual Reality Statistics
During the pandemic, VR/AR was essential due to the lack of personal purchasing and transaction options. This has helped accelerate the rate of adoption.
- The AR (Augmented Reality) market is set to grow by a CAGR of 100% between 2021 and 2025.
- In 2023, the number of AR users reached 2.4 billion.
- 67% of media planners intend to leverage AR/VR technology for their digital marketing campaigns.
- Almost 50% of Americans have used augmented reality without realizing it.
Emerging Technology Statistics
New technologies continue to emerge supporting efficient operations across many industries.
- Firms that use emerging technologies can grow their annual net income by 80% compared to their competitors who do not.
- Organizations are 2 to 3 times more likely to use prebuilt emerging technologies than build their own from scratch.
- Experts predict that there will be over 75 billion IoT devices by 2025.
- In 2023, consumer spending on smart home devices reached 157 billion.
- By 2030, the number of global autonomous driving sensor components will be worth $43 billion.
- 73% of IoT projects are failing due to limited internal expertise, low-quality data, and budget overruns.
- The market size of the metaverse is over $38.5 billion and is expected to reach $936.57 billion by 2030.
Conclusion
Now you’ve reached the end of these tech industry statistics it’s easy to understand how important the industry is. Not only does it make up 35% of the global market, it’s also responsible for almost doubling internet access in less than two decades.
These statistics also show that technology continues to evolve and is changing the business landscape rapidly. To succeed in leveraging technology, companies now have to think ahead because consumers have increasingly high expectations in terms of convenience, reachability, and mobility.
