Top Technology Statistics to Know in 2022

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The enhanced pace of development and innovation in the IT sector has made it pretty difficult for anyone to keep a track of all of these new scale developments. Therefore, in order to keep you updated with the recent advancements in this field, below we have a compiled statistic for the technological industry. 

Information technology, (the IT sector) is the effective utilization of computing services through hardware as well as software for storage, exchange, and creating information; the stored or processed data is further processed in order to achieve a certain defined objective or goal. Although IT is indeed a common term yet most people are not very familiar with its meaning or even definition. 

Fun fact- in the early 1980s the US already had a population of 7.4 million people working in the IT industry. Furthermore, this number has only shot up since then till now. 

Continue reading further in order to understand what the statistics have to say about the same agenda.  

Key Technology Industry Facts to Note for 2022

• The US-based tech industry is worth $1.6 trillion.
• An average market value of $5trillion for the tech industry by 2021. 

• 71% of consumers prefer texting virtual support.
• 68% of employees are comprised of Caucasians. 
• California witnessed 14,000 job postings in 2020.
• 5G network will dominate 40% of the world in 2021
• Artificial Intelligence will add $15.7 trillion to the economy by 2030.

Technology Industry Overview

Since the technology industry is the fastest growing industry worldwide therefore it tends to affect various other sections as well. Below mentioned are a few of the statistics that will help one understand the impact that the IT industry has on the economy along with understanding its close relationship with business owners worldwide. 

• By the year 2021- 2025, Augmented Reality also called AR is expected to grow by an average CAGR of 100 %. 
• AR technology is turning out to be the upcoming future of the IT industry. The market is witnessing a major shift in the shopping pattern i.e. Retailers and product marketers are widely seen shifting to AR technologies in order to enhance their shopping experience majorly. 
• When it comes to media and entertainment, The AR software and content market is expected to hit total revenue of approximately $20 Billion by the end of the year 2025. 
• The US-based tech industry has an annual worth of around $1.6 trillion. 
• The US IT sector is known to hold approximately 33% of the market share thus making it the most significant market holder globally. However, despite the large share, two-thirds of its spending is directed to countries falling outside the States border.
• With the advent of technology, 34% of employees fear that their jobs will be automated in the next three years. 
• With the growing advent of technology companies are on their path to introducing technological advancements in their businesses. According to the statistics even though the employees are not very oblivious of technology taking over their jobs a percentage of 78% say that they are ready to learn new skills if the job requires them to do so while the other 38% believe that they might not have enough time to keep up with the pace and complete their respective training programs. 
• On the contrary, employers claim that out of the present percentage of employees only 45% are capable enough of adapting to these new changes in time.
• In the year 2020, the number of devices connected to the web sums up to 22 billion. According to the technology growth sector statistics, by the end of the year 2020, almost 50 billion people would be connected to the internet. However, due to the recent world crisis, the predicted year of completion is now shifted to 2030. 
• The Internet Of things (IOT) indeed connects millions of people to the web. 
• With AI proving to be of great importance, Almost 72% of business executives are convinced to believe that AI will provide them with an upper hand in the market. 
• Since it is a known fact that the business world stands on very unstable pillars and is always changing therefore in order to stay intact with the constant disruption, efficient management techniques are a must. And with the growth in technological advancement, the need for an excellent management program is indeed important. Therefore, in order to serve the need of the hour, most companies are switching to artificial intelligence for better-optimized processes. Three-quarters of business executives worldwide agree to the fact that by the end of the year 2021, Artificial Intelligence would indeed be an important tool of optimization for most of the businesses in the market world. 
• 78% of costs can be cut down by effectively engaging Virtual Assistants. 
• Virtual assistance in companies is not only known to be quite cost-effective but less stressful as well. Almost 37% of employees working in the cubicles claim it to be quite stressful, which for a matter of fact is quite a small percentage when compared to a mere of  17% virtual employees who find virtual assistance to be stressful. 
• 55% of chief marketing officers believe that artificial intelligence has a significant effect on marketing as compared to social media. 
• After taking a closer look at the technology growth statistics obtained from various companies based in various countries like the USA, Brazil, Canada, China, and the UK one comes to the conclusion that most of the companies worldwide prefer Artificial intelligence above social media. 60% of the company heads claim that further in the near future companies will have to compete in the AI space. 
• 82% of business executives believe that effective utilization of Artificial Intelligence can help in reducing paperwork.
• In general, workplaces tend to engage employees in repetitive works which in turn affects efficiency. Therefore, according to the statistics around 79% of business executives believe that the involvement of Artificial Technology will, in turn, cut down on the scheduling of tasks and hence prove to be further advantageous.
•  20% of Google searches are voice searches all over.
• According to the statistics, 20 out of 100 people prefer voice searching rather than using the authentic type search method. Virtual assistance is proving itself to be easy access to technological advancements. People are getting comfortable using virtual assistance methods like voice searches.
•  19% of people tend to use Siri for voice searches on daily basis.
• Based on a report, around 37% of people prefer using Siri, 23% prefer using Cortana AI from Microsoft while the other 19% prefer Amazon Alexa AI, monthly. These figures clearly state that the use of virtual assistance is bound to grow day by day. With the advancement in technology, the reliance on virtual assistance is growing as well.
• In the year 2020, the export of US tech goods and services reached over $300.
• In the year 2020, while the export count across all industries summed up to $2,131.9 billion The US on the other hand made the count hit around $2,810.6 billion worth of goods and services. 
• For the technology and services goods, the US is known to have imported approximately $492 billion worth of goods in the year 2020; which indeed is very close to $500 billion.
• 59% of technology investment in 2021 is driven by technology end of life.
• As it is a well-known fact that many factors influence the buying of new software or services for the company. One such major factor is the end of life. Along with this various other factors constitute various percentages for the same. For instance, cycles constitute 52%, needs/growth constitutes 51%, project needs constitute 45% and end-user needs constitute up to 44%.
• The data recovery and protection industry are expected to portray a growth rate of more than 9.7%.
• The software industries inclusive of application and system software are expected to shoot up in the coming year. With cloud storage gaining more and more users, the storage software industry is expecting a hike up to $15 billion. The hike in the storage software industry will in turn enhance the data recovery and protection field by 9.7%. Therefore, in order to keep up with these enhancements, it is primary for any company to stay up to date with these advancements.
• By the end of the year 2021, the Tech industry is expected to reach a $5 trillion market value.
• The tech industry was earlier expected to hit $5 trillion in the year 2020 itself. However, with the pandemic hitting the world, it is estimated that if the 4.2% of growth rate continues to remain on track then the same target could be achieved by the end of the year 2021. The market value in the year 2020 managed to reach $4.8 trillion. Had there been no pandemic, the value could have surpassed $5.2 trillion.
• According to the technology industry statistics, the year 2021 witnessed a growth of 1.8% since January 2020. 
• With 93 million people starting to use a mobile phone last year the total worldwide count of the same reached up to 5.22 billion at the beginning of the year 2021; which means two-third of the worldwide population is engaged using a mobile phone.

Information Technology Industry Analysis—Internet and Social Media

• With the advent of social media in the day-to-day life of people, it has become equally significant for consumers as well as producers. Social media is responsible for building a direct communication bridge between the consumers and the business executives. However, the main questions still remain the same i.e. how many hours do people actually spend scrolling through their favorite social media pages? 
• People tend to spend an average of 2 hours, 25 minutes every day on their favorite social media handles.
• Social media has turned out to be a very vital part of people’s lives in the present world. People tend to spend hours scrolling through phones on the web. According to the recent surveys in the ear 2021, people tend to spend almost 3.7 trillion hours on their favorite social media handles (3.7 trillion hours amount to 420 million years!).
• Based on country-wise divisions, Filipinos tend to spend almost 4 hours fifteen minutes on their favorite handles on a daily basis. 
• The year 2021 witnessed 59.5% of the global population on social media.
• With the advent of the pandemic, the tech industry displayed major growth. Most of the people who were recently not part of the social media platforms tend to have joined them amid this pandemic crisis. The year 2021 marked a major hike in the number of social media users; there are around 4.22 billion social media users worldwide, accounting for approximately 59.5% of the total population worldwide. 
• Visual content is considered to be 40 times more likely to be shared than any other form of content on social media.
• People tend to get attracted to visuals more than getting attracted to any other form of information. In the tech industry, it is not only important to be involved with visual content but it is also primary to understand which social media site might prove to be the best for your respective content. Social media sites can be a good fit for all therefore it is important to figure out your fit and work on the same. 
• About 71% of consumers consider texting an effective form of direct communication with companies.
• Most people tend to feel that texting is a better mode of communication and is less time-consuming as well. While 68% of people say that having texting as virtual support would be a good option, 66% of them wouldn’t mind paying more for texting virtual support. People tend to appreciate being heard and prefer businesses that are sensitive towards their customer’s needs. 
• Information Technology Industry Overview Post Pandemic
• IT is indeed the backbone of this new age of technology. And with the pandemic hitting the world, we must analyze its effect on the IT sector. 
• 68% of the tech industry in the US is covered by Caucasians.
• According to the tech industry statistics, Asians which constitute almost 6% of the population are the next most numerable group at 14% after the US population with 60% (Caucasians). Further, the African Americans, constituting 13% of the population are known to make only 7% of tech workers. Additionally, the Hispanics with a population percentage of 18% have a tech industry population of 8% only.
• In the year 2020, California witnessed over 140,000 job postings.
• California even after experiencing a major drop of 28% in jobs in the year 2019, made it to be the top state for maximum job posting in the first half of the year 2020. Other states like Texas, New York, and Virginia were a part of the list too and followed the positions below California.
• Talking about the fastest job opening growth (IT sector) Maryland and Idaho topped the list with a 23% rate.
• As per the current rate of technology growth, the number of VoIP subscribers in the corporate world was expected to hit 204.8 billion by 2020.
• With the advent of technology, classic ways of communication are advancing as well. In the olden days, telephone services were kept on-premises however with the advent of technology; companies are switching to Voice over Internet Protocol or VoIP. According to an estimate, the number of subscribers in the corporate sector would have touched a margin of $204.8 billion by the end of last year. The average IT spend by companies is known to be about the US $86.20 billion.
• Smartphones are expected to be responsible for 44% of total IP traffic by the year 2022.
• According to recent statistics, the traffic on PCs is predicted to drop down from 41% in 2018 to 19% in 2022. On the other hand, smartphones will rise from 18% in 2018 to 44% in the year 2022.
• By the year 2024, 5G networks are expected to cover 40% of the world.
• With advancements in the IT industry, companies believe that the most prominent and comprehensive form of connection is the wireless 5G network. On the brighter side, most of the companies are also completely switching to 5G rollout plans. By the year 2024, minimum coverage of 40% population with 1.5 billion 5G subscribers is expected. Better innovative solutions and effective reuse of the already existing infrastructure will help in making this possible.
• In the year 2021, ad-blocking was used by around 27% of devices.
• According to the technology growth statistics, most mobile device users tend to use ad-blocking. The percentage increased from 5% in 2018 to 7% in 2020. A global increase of 64% from the year 2016 to 2019 is witnessed. 
• On average more than 90,000 websites get hacked on daily basis.
• Websites getting hacked is not a new thing in the IT industry. Many websites get hacked on daily basis. Out of the hacked ones, around83% are known to use WordPress which uses CMS; CMS has up to 22.6 million active websites and is known to own around 59.7% of the market share. 
• 53% of organizations ended up exposing 1000 plus sensitive documents.
• Any information stored digitally is not 100% safe. They are open to being accessed by anyone at large. Sensitive information like health records or credit card numbers tends to be exposed. Additionally, according to recent statistics, around 22% of documents are available to everyone, therefore, making them even more prone to hacking. 
• An average of $2.4 million is spent in order to tackle malware attacks.
• Any company going through a malware attack loses an average of 50 days of functioning. These 50 days of no progress in turn cause huge loss to the company. Therefore, in order to protect themselves from malware or a ransomware attack, or any sort of cyber threat, it is crucial for companies to invest in various cyber security options.

IT Spending Statistics by Industry

• With Information technology growing at such a fast pace, its importance in various industries is shooting up as well. Therefore, we must also take a brief look at the average IT spending by the industries. 
• In the year 2021 79% of businesses predict their IT budgets will increase.
• While the European businesses expect a budget cut of 12% the North American companies are more likely to have an average budget cut of 21%. Further, based on a survey, while 17% of the companies believe that there will be a significant decrease in the budget in the year 2021, 8% of them are expecting a budget cut in the IT sector. 
• By the year 2025, the worth of the Unified Communications Market will be $167.1 billion.
• A unified communication system is basically a platform that integrates the VoIP systems for efficient communication management. Therefore, with high growth in this sector, the UC market is expected to reach its peak as well. These devices are beneficial for people whose preferred mode of communication is through texting, social media, or emails rather than using telephones. Furthermore, these devices can be put into action remotely therefore there is no issue of storage and placing. 
• By the year 2023, the big data industry’s worth will add up to $77 billion.
• Big data is proving to be quite beneficial for the market in the present times. According to reports, companies that use big data show an 8% increase in profit with a 10% cut down on the overall cost. Further by the year 2023, the company is expected to have a worth of $77 billion. Big data helps in modifying business models with respect to advertising. 
• By the year 2030, Artificial intelligence is projected to add $15.7 trillion to the economy worldwide.
• AI is expected to bring about $15.7 trillion into the global economy in the next 10 years. It is expected that companies will continue spending more on AI because the business executives believe that AI can bring about certain dynamic advancements in the IT industry. 

Takeaway

Keeping the fast pace growth and the current statistics, one can safely say that the Tech industry will keep flourishing in the coming years. However, the fast pace of the same doesn’t let any reform stay for long; every new day brings in new technological advancements. Therefore, innovation is indeed the key to keep growing. Better planning and well-thought investments go hand in hand. 

We hope that the statistics above helped you in understanding the current market status extensively. 

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