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Internet of Things (IoT) in selected Nordic countries - Statistics & Facts

The Internet of Things (IoT) refers to a network of smart objects devices working together in collecting and analyzing data. and was first discussed as early as 1980s with a modified Coca-Cola vending machine. In recent years The IoT concept was first brought up as early as the 1980s with a modified Coca-Cola vending machine, and has been spreading globally in recent years, generating larger and larger revenues. The Asia Pacific region accounted for the largest share of global IoT spending in 2018 and is was expected to keep its leading position in 2023. Europe came in third in the ranking and was forecast to hold one fourth of the spending in 2023.

A common application of IoT are Smart homes are a common application of IoT, or a home setup where appliances and devices can be controlled remotely by an internet-connected device. Denmark led the ranking of European countries with the largest share of Smart Home users in 2019 and the other two Scandinavian countries (Sweden and Norway) followed closely. In 2019 most Norwegian consumers considered smart products to be safe to a large extent . This trend was more common among the young than the elderly.

Regarding enterprises using advanced technologies in the Nordic region, Danish enterprises were using sensors connected to the internet were the most commonly implemented tech type by Danish enterprises inmore than any other connected tech in 2019. However, lack of access to funding was selected as the leading barrier to adopting AI in startups in the country the same year.

The majority of Norwegian consumers seemed to feel well equipped to participate in an increasingly smart society, especially younger generations. The globalGlobal Internet of Things spending on IoT iwas expected to increase annually and to reach 1.1 trillion U.S. dollars by 2023. 668996 All data shows that smart devices, connected homes and Internet of ThingsIoT areis expected to keep growing and developing in the upcoming years, introducing new technologies and trends.

Interesting statistics

In the following 5 chapters, you will quickly find the 32 most important statistics relating to "Internet of Things (IoT) in the Nordics".

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