How Fast Is Technology Advancing in 2020?

Almost everything we do today has an atom of technology in it. From our smart devices to advanced computers, and sophisticated engineering equipment – technology is all around us.

But this question remains – How fast is technology advancing?

Statistics that illustrate how fast technology is growing over the years have shown breakthrough technologies from all aspects of life. Experts predict that there is more to come. 

We compiled some of the most groundbreaking stats to enlighten you more on how far technology is progressing. In addition to this, we will shed more light on some of the upcoming trends, sure to leave you stunned!

Fascinating Technology Growth Statistics

The following are some eye-opening stats handpicked from the most reliable sources:

  • Globally, we have up to 1.35 million tech startups around the world.
  • The number of smart devices collecting, analyzing, and sharing data should hit 50 billion by 2030.
  • The highest number of transistors that fit into a microprocessor as of 2019 is 39.54 billion.
  • The computing and processing capacity of computers hits double figures every 18 months.
  • The world has produced 90% of its Big Data in the past two years.
  • 56% of Earth’s population has internet access.
  • Every second, 127 new devices are connected to the internet.

 

Sounds amazing right? That’s just the tip of the iceberg – we have more in store for you. Read on to find out!

General Technology Growth Statistics

The following are some generalized statistics about how the growth of technology is influencing every sector.

1. The global internet penetration rate is pegged at 56%.

(Source: Statista)

Technology adoption rate statistics go further to reveal that certain continents have up to 95% internet penetration rate. This means that almost everything done in such a continent is online.

2. $183.18 billion – that is how much the web hosting services marketplace is expected to have generated by 2026.

(Source: Fortune Business Insight)

In 2017, the global web hosting market had a value of $32.12 billion, and in 2018 that figure rose to $60.90 billion. By Maintaining a Compound Annual Growth Rate (CAGR) of 15.1%, experts predict that the web hosting industry will be worth more than $100 billion in a few years as a result of global tech market growth. That’s why there’s such a fierce battle between the best hosting providers on the market. 

3. Currently, 4.8 billion people own a mobile phone.

(Source: Bank My Cell)

In 2019, technology growth statistics revealed that 4.7 billion people had mobile devices. Fast-forward to May 2020, and that number has grown to 4.8 billion. Interestingly, 3.2 billion of the total mobile phones in 2019 were smartphones.

4. By 2030, there will be 50 billion devices connected to the internet.

(Source: Help Net Security)

As at the end of 2018, there were already 22 billion smart devices collecting, sharing, and analyzing data over the internet, as revealed by technology advancement statistics. Millions of new devices connect to the internet every month. At such a rate, experts predict that this figure will skyrocket to 33.86 billion in 2025, and 50 billion in 2030.

5. Google search engine receives 5.8 billion searches per day.

(Source: Hubspot)

According to statistics illustrating how fast technology is growing, 70,000 searches are carried out by Google users around the world every second. That is about 4.2 million searches per minute, 252 million searches per hour, and about 2 trillion searches per year. 

6. The need to reach new customers is the primary factor pioneering technological growth in the last few years (46%).

(Source: Finance Online)

Technology adoption statistics reveal that factors such as selling new business lines (38%), overall improvement of business operations (41%), improving sales and marketing (35%), improving standard internal processes (33%), etc are the pioneers for tech growth.

7. As of 2018, 90% of the world’s data was generated in the previous two years.

(Source: Forbes)

In today’s technologically driven economy, we now produce more data than ever. According to technology growth stats, most of the data is generated from social media, and other emerging technologies like IoT, Artificial intelligence, augmented reality, etc.

8. 3.8 billion people around the world make use of social media.

(Source: We Are Social)

In the past few years, social media has become one of the major sources of generating data over the internet. Technology statistics for 2020 reveal that global internet users are now above 4.5 billion, with 3.8 billion being active social media users. This goes to show how important social media has become in this century.

AI and Machine Learning Statistics

Technology stats and facts show that AI remains one of the most sought after technological advancements pioneering technological growth around the world. Read on to find out some amazing stats on how AI and machine learning are impacting society.

9. Google Translate algorithm has increased its efficiency from 55% to 85% following the implementation of machine learning into its translation services.

(Source: Finance Online)

Google Translate is a service developed by Google to help customers translate text and websites to any desired language. Before the introduction of AI, it would typically take more time to translate a series of words in a foreign language as the process is done one text at a time. However, with the application of deep learning (a sub-function of AI), the Google Translate service is now able to interpret a whole sentence or website at once.

10. During Q1 in 2019, the total amount allocated to machine learning worldwide sits at $28.5 billion.

(Source: Finance Online)

Statistics that show how fast technology is growing show that machine learning is one of the most popular and most successful sub-functions of AI. It has been applied across various industries to help businesses make informed decisions and correct predictions that bring about growth.

11. The global AI market is expected to reach the $126 billion mark by 2025.

(Source: Statista)

As of 2018, the global artificial intelligence market was valued at $10.1 billion, after which it rose to $14.62 billion in 2019. But, at an increasing growth rate which started at about 33% yearly in 2018, statistics predict that its value will rise even further shortly.

12. Worldwide, artificial intelligence could generate 133 million new jobs by 2022.

(Source: Forbes)

According to statistics illustrating how fast technology is advancing that was released in 2019, artificial intelligence will displace up to 30% of all jobs. It will also create another 133 million new ones. If you are bothered that AI will displace humans from their respective jobs, you can rest assured that it is only coming to make our lives even better.

13. Worldwide, only 37% of organizations have incorporated AI into their business.

(Source: Gartner)

Although the figure may not be high enough, it is still a significant rise from what we had in 2015 (about 270% increase).

14. Demand for skilled IT personnel in the AI industry increased by 2X between 2017 and 2019.

(Source: Adobe)

Demand for skilled workers is one of the significant challenges facing most companies that are willing to adopt artificial intelligence as a part of their business.

15. The worth of the AI-powered self-driving car industry could stand at $600 billion come 2025.

(Source: Data Prot)

As at this moment in 2020, 25 countries are actively working on self-functioning cars. Tech growth stats go further to tell us that the same industry has an annual growth rate of 36%. Its global revenue is almost at the $173 billion mark.

16. 71% of executives believe that artificial intelligence and machine learning are game-changers for businesses.

(Source: AMC Laboratories)

The world is beginning to wake up to the fact that robotics and automation powered by AI could be the future of work. However, some are more prepared than others. Those that fail to prepare may be left behind when the changes start to take effect.

17. AI is the most significant portion of the data strategy of any business according to 61% of marketers.

(Source: Finance Online)

Data strategy is a set of informed decisions taken from a position of insight (after careful study of available data) on how best to move a business forward. It is the job of AI to study the set of available data, and help to draw insights as to existing flaws and what needs to improve. 

Big Data Statistics

Data that has become so large and complicated for the traditional computer system to make sense of is referred to as Big Data. However, Big Data impact statistics have shown that it can become a goldmine to whoever understands its capacity. Check out the statistics that follow to discover the impact of Big Data on technology and internet growth.

18. Organizations that are data-driven are 23x more likely to acquire new leads than those without a data-driven strategy.

(Source: McKinsey)

Big Data can be a source of insight for those that care to put in the work, understand patterns in its data, and relate them to their various businesses. Facebook is an exemplary example of a company that is effectively utilizing both Big Data and AI to understand its audience better.

19. 91.6% of Fortune 1000 companies are investing more in Big Data and AI.

(Source: ZD Net)

Big Data is like the new gold for businesses. Coupled with AI, a good deal of information can be extracted from both structured and unstructured data. The Fortune 1000 companies know this. The most successful entrepreneurs also know this. For this reason, technology growth statistics tell us that these companies always have a specified budget put in place for data analytics.

20. Two-third of organizations that have utilized Big Data effectively have reportedly seen a decrease in operational expenses.

(Source: Data Motion)

Big Data impact statistics reveal that for businesses that can do away with the junk of unuseful data, Big Data can provide direct and specific information about what works for such businesses and what does not. That way, these businesses can avoid the trouble of wasting time, effort, and resources on strategies that don’t give results. Instead, it enables them to focus all of those energy and resources on what works.

21. As of 2018, we generate 2.5 quintillion bytes of data daily.

(Source: Seed Scientific)

According to tech growth statistics, we now produce data in trillions and quintillions daily. This number has been on the rise over the last few years, meaning that we should expect to produce more in the next 2-3 years.

22. Investment in Big Data and business analytics tools was predicted to reach the $187 billion mark by 2019.

(Source: Information Week)

This right here is why you find platforms like Google, YouTube, and Facebook very successful. They are actively utilizing Big Data to make informed decisions about what customers need and how best to give it to them.

23. By increasing their effectiveness at utilizing Big Data, Fortune 1,000 companies can increase their net income by up to $65 million.

(Source: Software Findr)

According to Big Data impact statistics, the ability to extract, understand, and utilize Big Data has a direct impact on both sales and revenue. With Big Data, businesses can better understand their customers, thereby channeling their efforts towards what works and increasing conversion rates.

24. 71% of companies find it difficult to protect and manage unstructured data.

(Source: Forbes)

As enticing as the idea of Big Data analytics may seem, it still requires a lot of technical and specialized kind of skillset to make sense of the large chunk of available data. Thankfully, the best data visualization software can transform huge amounts of raw data into easy-to-digest visuals. These can provide decision-makers with valuable insights quickly and easily. 

25. 83% of organizations worldwide are currently investing in various Big Data projects.

(Source: Forbes)

Given how rapidly technology is growing, and the millions of data being generated daily, top company executives are beginning to realize the usefulness of Big Data. Some even argue that failure to invest in Big Data for any business is like walking your way towards bankruptcy.

Mobile Technology Statistics

Internet traffic growth statistics tell that over the last decade, mobile usage has been on the rise, even surpassing desktop web traffic for the very first time in late 2015. Almost anything can now be achieved on mobile. Check out some of these mobile tech statistics to discover how vital technological advancements on mobile have become.

26. Mobile accounts for 52.03% of all website traffic on the internet.

(Source: Oberlo)

With billions of people now smartphone owners around the globe, our monthly production of data has moved from 1.5 exabytes in 2013 to up to 30 exabytes in 2020. In addition, statistics that illustrate how fast technology is growing in 2020 reveal that that number should rise even further to about 70 exabytes per month by 2022.

27. 80% of internet users also own a smartphone.

(Source: Business Services Week)

Apple and Android smartphone producers are the pioneers of mobile device growth around the world. This follows with Android devices alone make up for every two in three mobile devices in use. Smartphones are affordable and technologically advanced, so they provide an opportunity for the rest of the world without a substantial financial might to also have access to the internet.

28. People check their mobile phones about 150 times daily.

(Source: Business Services Week)

Call it an addiction!

The fact remains that mobile phones have become a massive part of how most of us function daily. We check our phones almost all the time for messages, notifications, time, etc.

29. There are 3.5 billion smartphone owners around the world today.

(Source: Bank My Cell)

Look at it this way, you can set your morning alarms using your smartphone, you can set running time, order for groceries, transfer funds, connect with friends, family, and co-workers, all from your mobile devices-irrespective of your location. That is how important smartphones have become in today’s economy, and how technology has changed our lives.

30. 80% of smartphone users make use of their phones during physical shopping.

(Source: Business Services Week)

This could be either to read up reviews of a particular product that they are about to purchase or to locate an alternative store where they can compare products and prices. Either way, this goes to show the impact of technology on how we live our daily lives. Smart business owners who understand this fact can begin to make adjustments towards mobile to boost their traffic and improve conversion rates.

31. 95.1% of the Facebook audience access the platform through their mobile phone.

(Source: Business Services Week)

Platforms like Google and LinkedIn have already implemented a mobile-first standard for their websites, and the reason for such a move is not far-fetched. Internet access growth statistics reveal that mobile drives the majority of the traffic on Google and other social media platforms.

32. Google Play and the Apple App Store have a combined 4.4 million mobile apps for download in 2020.

(Source: Statista)

90% of the mobile apps on Google Play and the Apple App Store are free to download. Notwithstanding, more businesses are beginning to understand the power of mobile apps and the amount of time consumers spend on various apps daily. Technology adoption stats show that mobile apps can help develop a brand image and improve customer loyalty when done right.

33. About 56% of parents who have kids aged between 8 and 12 years have purchased mobile phones for them.

(Source: NCL Net)

Statistics about how fast technology is growing show that kids are growing up in a technologically advanced society. Back in the ’80s and ’90s, who would have ever thought that a 12-year-old would own a mobile phone, let alone an 8-year-old. However, that is the reality of today’s economy. 

That’s why solutions like parental control software are becoming more and more popular.

34. 98% of Generation Z have a mobile phone.

(Source: Global Web Index)

Technology advancement rate statistics go further to reveal that Generation X has a mobile penetration of 92%, Generation Z with 52%, and Baby Boomers with 42%.

35. The mobile advertising industry was worth $190 billion in 2019.

(Source: Statista)

Experts also predict that expected mobile ad spending will surpass the $280 million mark by 2020.

Internet of Things (IoT) Statistics

Over the last few years, the concept of IoT has become a vital role player across various industries. More and more businesses now look to integrate its many benefits into their network infrastructures. The following are some of the most up-to-date statistics on the growth of IoT.

36. Every second, 127 new devices are connected to the internet.

(Source: Data Prot)

With the availability of affordable computer chips (sensors) through nanotechnology and the ubiquity of wireless networks, almost anything can now be made a part of the IoT according to statistics about how fast technology is advancing

37. Cellular IoT connections could reach 3.5 billion by 2023.

(Source: Data Prot)

Cellular IoT connection is a feature that allows sensors to be able to transfer information directly to a computer or your mobile device within a region or specified distance. Health wearables that transfer the information about the state of health of a patient to a doctor or hospital is an excellent example of cellular IoT.

38. 75.44 billion IoT devices could be in existence by 2025.

(Source: Statista)

IoT statistics reveal that there are over 25 billion IoT devices around the globe at the end of 2019. Statista predicts that there could be well over 30 billion IoT devices by the end of 2020 – even up to 50 billion by 2023.

39. 70% of all automobiles will be connected to the internet through the Internet of Things by 2023.

(Source: vXchnge)

Technology statistics and findings show that the automobile industry is one of the few places where innovations in the IoT have seen significant improvements in the past few years. Aside from developing self-driving cars, research is being made to add lots of other features to the automobile industry through the Internet of Things. Soon, we could have vehicles that detect bad driving, accidents, and possibly imminent collision. In addition, cars that detect flaws in design while sending a report back to the manufacturer could also be a norm in years to come. 

40. The IoT could generate up to $11 trillion in economic value per year by 2025.

(Source: vXchnge)

Statistics that illustrate how fast technology is growing show that the global usefulness and availability of the Internet of Things is increasing at a breakneck pace. The IoT can save costs, increase productivity, create employment, and bring in billions and trillions in economic value in the process.

Global Tech Market Growth Statistics

Technology touches our whole lives and has generated trillions of dollars in revenue and market size in the process. Discussed below are some incredible milestones to help you better understand the impact of technology on businesses around the world.

41. Worldwide spending on technology stood at $3.74 trillion as of 2019.

(Source: Statista)

This includes money spent on software development, communications and computer equipment, system integration services, hardware maintenance, and telecom services.

42. By 2025, the wearable AI market is going to be worth $180 billion.

(Source: Inside Big Data)

AI statistics reveal that as of 2018, the wearable AI market was already worth $35 billion. Growing at a CAGR of 30%, that figure is expected to surpass the $100 million mark by 2025.

43. Big Data could attain a market size of $77 billion by 2023.

(Source: Statista)

Big Data volume statistics have shown that its importance cannot be overemphasized. This follows as hundreds of organizations around the world are already investing directly and indirectly into its befitting features. Insights from Big Data analytics can pioneer a small startup into becoming a multinational organization within the shortest possible time.

44. The AI-powered hardware market could be worth $120 billion by the end of 2025.

(Source: Finance Online)

AI hardware are chips or microprocessors used in housing the software part of artificial intelligence. In most cases, an AI design is incomplete without hardware. Take, for example, robots – how would it ever be able to carry out the manual task it is designed for without the help of hardware to give it shape and structure?

45. Successful companies like Netflix have been able to save up to $1 billion monthly following the adoption of a machine learning algorithm.

(Source: Finance Online)

Netflix’s AI algorithm can accurately recommend which movies will get the attention of each user based on their interaction with the website. That way, user engagement is significantly increased, and the cancellation rate reduced, thus increasing the potential of having a user around for a more extended period. Without a doubt, Netflix’s machine learning algorithm is one of the essential elements that make it one of the best streaming services out there.

46. Up to $657.31 billion would have been invested into the IoT by 2025.

(Source: Market Watch)

As at the end of 2019, the IoT market was already worth 193.60 billion. It could grow even further with a CAGR of 21% yearly if the technology growth rate is anything to go by.

Internet Growth Statistics

Initially designed only to interconnect government-owned research laboratories, the internet has expanded at an exponential rate over the last three decades

47. Internet users around the world spend an average of 6 hours, 42 minutes online daily.

(Source: The Next Web)

The most recent data presented by statistics that illustrate how fast technology is growing places the average time spent online at above six hours. Countries like the Philippines and Brazil have the highest amount of time spent online daily, with 10:02 hours and 9:20 hours, respectively. The US falls a little short of the global average, clocking in at 6:31 hours daily internet time. Others like Japan and France spend the least amount of time online daily with 3:45 hours and 4:38 hours, respectively.

48. Over 4.54 billion people are active internet users out of the 7.76 billion people in the world.

(Source: Make A Website Hub)

According to statistics that illustrate internet growth, the internet is growing at a pace of 11 new users per second – that is about 1 million unique users daily. Between the fourth quarter of 2018 and that of 2019, 366 million new users were added to the total number of internet users, bringing the final figure for 2019 to 4.39 billion users. However, between the end of 2019 and the first quarter of 2020, that figure has risen to more than 4.54 billion.

49. 1.8 billion websites are currently live on the internet in 2020.

(Source: Make A Website Hub)

Since the number of available sites began to skyrocket in 2012, more than one billion websites have come into existence. According to statistics that illustrate technology changes over time, only less than 200 million are active and functional

50. Google Chrome remains the most popular browser on the internet, holding 62.03% of the market share.

(Source: Oberlo)

Google Chrome holds the highest percentage of the market share, mainly because of its versatility of working with different operating systems. You can easily find it on all Android devices, and across numerous devices operating on the iOS and Windows operating systems.

51. The global ecommerce market could hit $6.54 trillion by 2022.

(Source: Make A Website Hub)

As at the end of 2019, the ecommerce market already had $4.2 trillion in sales. That number is expected to grow even further given that ecommerce is becoming the most preferred form of buying and selling around the globe.

52. More than 92% of internet users now consume video content online monthly.

(Source: Make A Website Hub)

Online video platforms like YouTube get massive traffic on a per-second basis every day. According to statistics, up to 500 hours of video is uploaded to YouTube every minute. Also, the platform has up to 1.9 billion users.

Future Trends in Technology Growth

When it comes to future technological trends that will rule the world shortly, a few inventions come to mind. They include Blockchain, cloud computing, AR/VR, robotics, and automation. The stats that follow will expose you to some of these future technology trends.

53. By 2025, 500 million Virtual Reality headsets would have been sold.

(Source: Adobe)

An increasing smartphone adoption rate, the automobile industry, military and law enforcement training, the gaming industry, and growing technology awareness are some of the significant factors influencing the increasing need for VR headsets. 

54. 94% of the internet workload will be processed on the cloud by 2021.

(Source: Tech Republic)

Since its introduction to the mainstream market, the cloud computing trend has shown massive year-over-year growth. Experts believe that it will soon cause traditional data centers to go obsolete. As of 2018, the cloud was already housing 45% of the internet workload, and that number should rise even further in a few years.

55. The Blockchain technology industry’s revenue is predicted to hit $20 billion by 2024.

(Source: PR News Wire)

Experts predict that as time goes on, blockchain will find usefulness across multiple industries due to its secure and sophisticated network. Currently, there are ongoing successful experiments to combine Blockchain and Big Data to ensure uniformity and accuracy of results, especially in the insurance sector, and many more will follow in the years to come.

How Is Technology Affecting Our Lives?

There is no doubt how vital technology has become to how we live our lives each day on earth. The technology process has made life both more comfortable and efficient for the average human. The following stats will expound more on how technology is influencing our lives in general:

56. Technology has made communication easier.

(Source: Thrive Global)

The younger generations won’t remember the days when there were no mobile phones. Today, anyone can pick up the phone and place a phone call to loved ones, irrespective of their location in the world. Plus, the coming of the internet and social media has made staying connected even cheaper.

57. Technology has improved advertising.

(Source: Thrive Global)

Billboards are becoming outdated, and door-to-door advertising is said to have gone extinct. With the internet, businesses can now reach their targeted audience with ease and still obtain better conversion rates than the old system of advertising.

58. Learning is now more efficient and more comfortable to carry out with technology.

(Source: Thrive Global)

In the past, you had to scourge the library for books on specific subjects that you intend to study. Today, there are billions of videos, podcasts, audio, and text over the internet on almost anything you wish to study, making education more accessible.

Wrap Up

Technology has sure come a long way! There are billions of inventions yet to be discovered by the upcoming generations, and many more after them.

So, if you’ve ever wondered how fast is technology growing, statistics answer – lightning fast. And it is showing no signs of slowing down.

Can you imagine what life would be without technology?

ABOUT AUTHOR

I am a natural-born connector, known for long-standing and effective business partnerships. I am fuelled by my passion for human resources and my genuine love of connecting with others. To date, my knowledge & determination to transform information into action & initiatives have contributed to my successful career. HR is something that I live and breathe, and I know the impact it has in transforming businesses; and the lives of those who work inside it.

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