How Fast is Technology Advancing

How Fast is Technology Advancing & Growing Worldwide? (2024 Stats)

How Fast is Technology Advancing & Growing Worldwide? (2024 Stats)

To say that technology is advancing at an unprecedented rate would be an understatement, though it’s true.

Modern technology is literally transforming every aspect of our lives. 

Advancements in technology have been shaping our world and changing the way we communicate, learn, get entertained, work, and engage with one another.

We know that technology is creating new opportunities and possibilities, but how fast is technology advancing in 2024?

Key Statistics

  • 600,000 new users enter the online realm daily, on average.
  • An estimated 127 new devices connect to the internet daily.
  • 93% of U.S. adults use the internet.
  • Northern Europe has the highest penetration of internet usage at 97.3%
  • Globally, there are 4.95 billion people using the internet.

How Fast is Technology Advancing in 2024? 

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1. 600,000 New Users Enter the Online Realm Daily, on Average.

All over the globe, it’s estimated that there are nearly 5 billion internet users.

Furthermore, an average of 600,000 new users are added to the online realm daily.

This is significant since only around 60% of the global population have access to the internet. 

(Zippia)

2. An Estimated 127 New Devices Connect to The Internet Daily.

With an estimated 127 new internet connected devices per day, this data highlights the enormity of the Internet of Things (IoT).

Further data reveals that the IoT industry alone will be worth over $1 trillion by 2024.

Compare this with the global technology industry’s value of $5.2 trillion as of 2023.

(CompTIA Blog, Zippia²)

3. 93% of U.S. Adults Use the Internet.

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Statistics show that a whopping 93% of U.S. adults use the internet. In 2020, this figure was only 52%.

If you wondered how fast technology is advancing, this data reveals a lot about the adoption of technology.

It’s believed that the global pandemic sparked the technology industry which has resulted in this growth.

(Earthweb)

4. Northern Europe Has the Highest Penetration of Internet Usage at 97.3%

As of October 2023, Northern Europe has the highest penetration of global internet users at 97.3%.

This means that 97.3% of the population in Northern Europe are online.

Likewise, Western Europe has 93.7% penetration and Northern America has 92% of that action.

(Statista)

5. Globally, There Are 4.95 Billion People Using the Internet.

Data from 2023 shows that there are 4.95 billion people on the globe who use the internet.

This alongside the estimated 600,000 daily newly added internet users shows the widespread of technological resources across the world. 

(Zippia)

6. By 2025, the Number of Global Mobile Users Is Expected to Reach 7.49 Billion.

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In 2021, the world had 7.1 billion mobile users.

It was forecasted then that the number of internet users would grow to 7.26 billion by 2022 and by 2025 there will be 7.9 billion internet users across the globe.

Statista shows that in 2023 there are 7.33 billion internet users.

(Statista²)

7. There Are 1.35 Million Technology-Based Startups in The World.

This statistic is a good indication of the significance of the speed at which technology is advancing.

Recent data reports that there are 1.35 million technology-based startups among over 150 million in the world.

This shows that the world is ready for more technology.

(DemandSage, Fit Small Business)

8. It’s Estimated that 90% of All Global Data Has Been Generated in The Past Two Years Alone.

Data generation plays a major role in the world of technology, which is shown by the fact that it’s estimated that 90% of the world’s data generation has happened over the course of just two years.

Related:  20+ Smartphone Usage Statistics in 2024 (New!)

This shows the exponential growth of data creation in today’s world.

(Earthweb)

9. It’s Forecasted that 38.6 Billion Io T-Connected Devices Will Be Active by 2025.

Global forecasts reveal that 38.6 billion IoT (Internet of Things) devices will be connected by 2025.

Further predictions suggest that by 2030, there will be 50 billion IoT devices connected in the world.

If you wondered how fast technological advancement spread, this gives you a good idea.

(Zippia)

10. 91.6% of Fortune 1000 Companies Are Boosting Their Big Data and AI Investments.

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One of the things that Fortune 1000 companies agree upon is that AI and Big Data are technologies that will help them maintain their competitive edge.

In fact, 91.6% of these companies intend to boost their investments in Big Data and AI. 

(Forbes)

FAQs

What Are Technological Advancements?

Technological advancements are the improvements or innovations that are made in various fields of science, engineering, and technology.

They can be applied to different domains such as medicine, education, communication, agriculture, transportation, etc.

Why Are Technological Advancements so Important?

The importance of technological advancements includes aspects like enhancing quality of life, solving problems, creating opportunities, and increasing efficiency and productivity.

They can also help address global challenges like poverty, health, security, and climate change.

What Are Some Examples of Technological Advancements?

We scoured the web to find these five examples of technological advancements:

1. AI (Artificial Intelligence) and ML (Machine Learning) go together sometimes, but each are separate elements in technological advancements.

These technologies are used to perform tasks that require human intelligence like image analysis, speech recognition, decision making, and natural language processing.

2. Biotechnology and nanotechnology, which manipulate living organisms and matter at the molecular level, respectively, to create new materials, products, and devices.

3. Renewable energy and green technology can harness natural resources like solar (sun), hydro (water), and wind (air) power to reduce the environmental impact of human activities.

4. VR (Virtual Reality) and AR (Augmented Reality) are both technologies that provide interactive and immersive experiences or can stimulate or enhance the real world.

5. Blockchain and Cryptocurrency which use distributed ledger technology to store and transfer data and value securely and transparently.

What Are the Benefits and Risks of Technological Advancements?

As with all things in life, advancements in technology come with both benefits and risks.

Sometimes it depends on how they are used and other times it can cause issues.

We found these benefits and risks of technological advancements:

Benefits:

• May help to improve health and well-being via better diagnoses, treatments, and disease preventions.

• Technology can promote new forms of expressions, foster efficient collaboration, enable more discoveries, and they may expand the boundaries of knowledge.

Risks:

• Technology can be problematic in the ethical and social world and may pose a plethora of dilemmas. Some tech is already known to raise questions about privacy, security, morality, justice, identity, and may also create conflicts of interest, rights, and values.

• Technology advancements may create work displacements and a disruption in equality.

• Unintentional harm can sometimes come from technological advancements due to the creation of new vulnerabilities, dangers, and threats. 

The benefits may outweigh the risks, but if the risks are more than rare, there are precautions that need to be in place.

Conclusion

From these statistics, we can only imagine the ever-expanding world of technological advancements. 

Data about how many users, how many companies, and the massive investments the big companies are making in technology tells us more than we need to know about how fast technology is growing in 2024.

Sources

ZippiaCompTIA BlogEarthweb
StatistaStatista²Fit Small Business
DemandSageForbesZippia²
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Written by Colin Tan
Colin Tan is a tech entrepreneur and business leader with extensive experience in the technology industry. He is the Co-Founder of several successful tech startups that provide innovative solutions to businesses. Colin has a passion for creating disruptive technologies that can transform industries and drive growth.