How Fast is Technology Advancing & Growing Worldwide? (2023 Stats)
Technology is advancing at breakneck speeds worldwide, fundamentally transforming how we live, work, play and interact with one another and the planet. The pace of innovation and adoption of emerging technologies across sectors has accelerated tremendously in recent years. Let‘s dive into the key statistics highlighting the tremendous growth and penetration of new technologies globally:
Internet Usage and Mobile Adoption
According to DataReportal, over 4.95 billion people now use the internet worldwide. Statista estimates that on average, around 600,000 new users gain access to the internet daily – that‘s over 15 new users every second!
Internet penetration rates remain highest in developed countries like Iceland and Norway at over 98%, but developing nations are rapidly catching up. For instance, internet penetration in India grew from around 20% in 2015 to over 50% in 2022.
The proliferation of mobile devices is a key driver of internet adoption worldwide. There are currently over 7.33 billion mobile users globally according to GSMA, and this is forecast to grow to 7.49 billion by 2025. Smartphone adoption is rising rapidly in developing countries, providing internet access to underserved populations.
Emerging Technologies – Growth and Applications
Beyond mobile devices and internet connectivity, a range of emerging technologies like artificial intelligence (AI), machine learning (ML), Internet of Things (IoT), robotics, blockchain, augmented/virtual reality and quantum computing are seeing massive growth and adoption worldwide:
- The global IoT market size is projected to grow from $465 billion in 2022 to over $1.5 trillion by 2028 as per Fortune Business Insights, with over 125 billion connected IoT devices worldwide. Key applications include smart homes, autonomous vehicles, precision agriculture, industrial automation and more.
- AI/ML adoption is accelerating – according to McKinsey, AI could create $13 trillion of additional global economic activity by 2030. Retail, finance, healthcare and manufacturing are largest adopters.
- 5G networks are rolling out globally, enabling innovations like self-driving vehicles, cloud gaming and remote surgery that require massive connectivity speeds and real-time responsiveness. Ericsson predicts 5.5 billion 5G subscriptions globally by 2028.
- Blockchain technology could contribute over $3 trillion to global GDP by 2030 according to PwC. Major applications include cryptocurrencies, supply chain tracking, identity management, smart contracts and more.
- AR/VR headset shipments are growing at a CAGR of over 40% and global market is expected to reach $65 billion by 2024 as per IDC. Key drivers are gaming, retail and healthcare.
Technology Usage by Sector
Across major industries like manufacturing, financial services, healthcare, education, transportation, energy and media/entertainment, companies and organizations are embracing emerging technologies and digital transformation:
- According to the WEF, 85% of banking transactions are conducted digitally, enabling innovations like digital payments, lending, investing apps and cryptos. Fintech investments hit over $210 billion globally in 2021.
- AI and ML are enabling personalized education at scale – the AI in education market hit $2.5 billion in 2022 per HolonIQ and is growing at over 30% CAGR through 2028.
- Industrial manufacturing could see efficiency gains of 10-20% and production increases over 20% by 2030 through smart factory technologies like industrial IoT, ML and collaborative robots as per BCG.
- Healthtech and digital health startups saw record $86.5 billion funding in 2021 per CB Insights. Telemedicine, wearables, AI diagnosis tools are transforming healthcare.
Technology Investments and Startup Growth
All this technology innovation and adoption requires massive investments – worldwide spending on digital transformation is forecast to hit $2.3 trillion in 2023 according to IDC.
VC investments in U.S. alone hit record $340 billion in 2021, with over $100 billion invested in software startups as per Pitchbook. There are now over 1 million tech startups globally as per IMF.
The pace of innovation and emerging technology adoption shows no signs of slowing down, presenting tremendous opportunities as well as risks. Continuous learning, adaptation and inclusive policies will be key to harnessing these advances for sustainable and equitable growth worldwide. But the future looks undoubtedly tech-centric!
