How Fast Is Technology Advancing? [2023]: Growing, Evolving, And Accelerating At Exponential Rates - Zippia (2024)

Research Summary: All around the world, technology is continuing to become a part of everyday life, and its capabilities are progressing rapidly. Here are some statistics on how fast technology is advancing:

• There are 4.95 billion internet users in the world as of 2023.

• There are 7.33 billion mobile phone users in the world.

• It’s predicted that there will be 38.6 billion IoT-connected devices (smartwatches, etc.) around the world by 2025 and 50 billion by 2030.

• There are 1.35 million tech startups in the world.

• 93% of U.S. adults use the internet.

• It’s estimated that 90% of the world’s data was collected in the last two years.

For further analysis, we broke down the data in the following ways:
Mobile and Smart Device Growth | Investment | Data Growth | Trends and Predictions

How Fast Is Technology Advancing: Internet Adoption Statistics

• There are over 600,000 new internet users each day, on average.

• The worldwide annual growth rate of new internet users is 4.8%.

• Every second, an estimated 127 new devices around the world connect to the internet.

• 93% of U.S. adults use the internet, up from 52% who had adopted it in 2020.

  

• Internet adoption rates have always been highest among 18- to 29-year-olds, with a 70% adoption rate in 2000 and a 99% adoption in 2020.

• 97% of Northern Europe’s population has access to the internet, the highest penetration rate in the world.

• The average internet penetration rate worldwide is 60%.

How Fast Is Technology Advancing: Mobile and Smart Device Growth Statistics

• Over 60% of the world’s population has a cell phone.

  Of those mobile phones, almost 80% of those are smartphones.

• As of 2018, there are approximately 22 billion devices around the world that are a part of the Internet of Things.

  The Internet of Things (IoT) is the network of devices and machines that share information across the internet, including smartphones, cars, and smart home devices. It’s even starting to expand to the community- and city-wide devices such as traffic signals.

  It’s estimated that the world will be using 50 billion IoT devices by 2030.

• 97% of U.S. adults own a cellphone.

  The change in this number from 2010 to 2021 is as follows:

  Year	% of U.S. Adults Who Own a Cellphone
  2021	97%
  2020	N/A
  2019	96%
  2018	95%
  2017	N/A
  2016	95%
  2015	91%
  2014	89%
  2013	92%
  2012	88%
  2011	87%
  2010	81%

• 85% of U.S. adults own a smartphone.

  The change in this percentage from 2011 to 2021 is as follows:

  Year	% of U.S. Adults Who Own a Smartphone
  2021	85%
  2020	N/A
  2019	81%
  2018	77%
  2017	N/A
  2016	77%
  2015	69%
  2014	59%
  2013	58%
  2012	45%
  2011	35%

How Fast Is Technology Advancing: Investment Statistics

• 91.6% of Fortune 1000 companies are increasing their investments in Big Data and AI.

  These companies are doing this because 91.6% believe that both Big Data and AI will help them stay competitive.

  

• The U.S. had 41.25 million technology patents in 2005 and 47.82 million in 2017.

  The annual numbers have ebbed and flowed over the years, hitting a low point in 2008 at 36.36 million, but they slowly and steadily increased after that.

• There are 1.35 million tech startups around the world.

  In comparison, there are 305 million startups in any sector.

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How Fast Is Technology Advancing: Data Growth Statistics

• It’s estimated that 2.5 quintillion bytes of data are created each day.

  That’s 2.5 plus 18 zeros.

  It’s also estimated that as of 2020, 1.7 MB of data is created for every person on earth every second.

• As of 2014, it’s estimated that 90% of the world’s data was collected in the last two years.

  That has only continued to increase as more and more data is added to the digital world through social media posts, photos and videos, online purchase records, GPS signals, and even climate and health sensors.

• As of 2017, over 19.2 billion transistors fit on a microprocessor.

  This is up from just over 2,300 transistors that fit on a microprocessor in 1971. This 46-year growth rate reflects Moore’s Law, which states that the number of transistors on a microprocessor would double every two years.

How Fast Is Technology Advancing: Trends and Predictions

• It’s estimated that there will be 38.6 billion Internet of Things-connected devices around the world in 2025.

  This is an increase of approximately 16.6 billion since 2018’s 22 billion IoT-connected devices. By 2030, the number is expected to reach 50 billion.

• The global wearable AI market is projected to be worth $69.51 billion by 2026.

  This is up from a value of $10.63 billion in 2019, which results in a CAGR of 26.5% during the seven-year span.

• In 2020, there were 1.28 billion smartphones shipped around the world.

  This number is projected to hit 1.43 billion in 2022.

  In 2009, there were only 173.5 million smartphones shipped globally, and the number steadily went up until it hit 1.47 billion in 2016. After that, there was a steady decline until 2020, but it’s anticipated to start growing again.

  

• Internet user penetration in the U.S. is projected to be 94.2% by 2025.

  This is up from 90.8% of the population accessing the internet in 2021 and 86.8% in 2017. These statistics account for users who access it with any type of device.

• The Republic of the Congo has the fastest growing online population, with 126% year-on-year growth in 2020.

  This is followed closely by the Democratic Republic of the Congo with a YOY growth rate of 122%, Samoa with an 86% growth rate, and Iraq with a 55% growth rate.

How Fast Is Technology Advancing FAQ

1. What is Moore’s law?

   Moore’s law states that the number of transistors on integrated circuits (or microchips) will double every two years.

   Moore’s law was first described by Gordon E. Moore, a co-founder of Intel, in 1965. It has held largely true for about 46 years now, even though he only predicted it to hold up for about ten years.

2. Is technology growing exponentially?

   Yes, technology is growing exponentially. Computers’ speed and power have generally been doubling every one and a half to two years since the 1960s and 70s. This is exponential growth, and while some experts doubt this rate is sustainable for much longer, it’s true for now.

   Other areas of technology that have seen exponential growth over the past several decades include digital cameras and human genome DNA sequencing.

3. How fast is the artificial intelligence industry growing?

   The artificial intelligence industry is growing by 16.4% year over year. This number is the IDC estimate for 2021, and if correct, the global AI industry would earn $327.5 billion in revenue during that year.

   It’s anticipated that the industry will have a five-year CAGR of 17.5%, reaching a value of $500 billion by 2024.

4. Why is technology increasing so fast?

   Technology is increasing so fast because each technological innovation makes many more possibilities and typically drives down costs of technology.

   These lower costs make current technology increasingly accessible, making it more widespread, and these innovations open doors to build on current technology, helping it to quickly advance and, in turn, become more accessible.

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Conclusion

Since the invention of computers, technology has been advancing rapidly. Every technological innovation opens the door to a myriad of others that will build on it, creating exponential growth. Technology has become a part of everyday life for the majority of the globe in the form of the internet, smartphones, and other smart devices.

Currently, there are 4.95 billion internet users around the world, and an average of 600,000 are being added to that number every day. However, only 60% of the world has internet access.

Smartphone technology has also become increasingly common, with over 60% of the global population owning a cell phone, 80% of which are smartphones. These devices connect to the internet, and they, along with 22 billion other similarly connected, non-phone devices, make up the Internet of Things.

The network of smart cars, security systems, phones, and even traffic signals shares a significant amount of information and is expected to include 50 billion devices by 2030.

References

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2. McKinsey & Company. “What’s New with the Internet of Things?” Accessed on January 26, 2022.

3. Pew Research Center. “Internet/Broadband Fact Sheet.” Accessed on January 26, 2022.

4. Statista. “Fastest Growing Online Populations Based on Relative Year-on-Year User Growth as of January 2020.” Accessed on January 26, 2022.

5. Statista. “Number of Internet of Things (IoT) Connected Devices Worldwide in 2018, 2025 and 2030.” Accessed on January 26, 2022.

6. Pew Research Center. “Mobile Fact Sheet.” Accessed on January 26, 2022.

7. ZDNet. “Fortune 1000 to ‘Urgently’ Invest in Big Data, AI in 2019 in Fear of Digital Rivals.” Accessed on January 26, 2022.

8. OECD.Stat. “Patents by Technology.” Accessed on January 26, 2022.

9. Get2Growth. “How Many Startups Are There?” Accessed on January 26, 2022.

10. Domo. “Everyone on the Same Page, All the Time.” Accessed on January 26, 2022.

11. Big Data Made Simple. “Exciting Facts and Findings About Big Data You Should Know.” Accessed on January 26, 2022.

12. Our World in Data. “Technological Progress.” Accessed on January 26, 2022.

13. Allied Market Research. “Wearable AI Market by Type (Smart Watch, Smart Glasses, Smart Earwear, Smart Glove, and Others), and Application (Consumer Electronics, Healthcare, Automotive, Military and Defense, Media and Entertainment, and Others): Global Opportunity Analysis and Industry Forecast, 2019–2026.” Accessed on January 26, 2022.

14. Statista. “Global Smartphone Shipments Forecast From 2010 to 2022.” Accessed on January 26, 2022.

15. Statista. “Internet User Penetration in the United States From 2017 to 2025.” Accessed on January 26, 2022.

16. IDC. “IDC Forecasts Improved Growth for Global AI Market in 2021.” Accessed on January 26, 2022.