Given all the buzz happening in the market around IoT, We looked at related projects in the crowd funding website Kickstarter.com to see how are IoT projects doing with respect to all the other ones.
We chose projects which have either “IoT” or “Internet of Things” either in their title or description and here are our findings.
The success rate of projects at Kickstarter is around 37.5%, for Technology projects it is 21% which is a lot less than the average success rate of projects. In Spite of this our analysis shows that the success rate of IoT projects is 44%, which is pretty good news. People are realizing the importance of IoT and are willing to fund the related projects.
The projects locations are almost concentrated in US and Europe with a few scattered in Asia and Australia
Because the projects are spread all over the world the goals of money to be raised were also in different currencies so to be able to analyse the monetary part we normalized all the numbers to US dollars.
The total sought out money for all the IoT related projects ( ongoing, successful and failed ) in Kickstarter is around $4.7 million and the actual pledged amount for the projects is around $1.5 million.
If you only consider the projects which have made it the total sought out and pledged amount is approximately $1.2 million. So only 2% of the pledged amount went to the unsuccessful projects which is usually the case with most of the projects on Kickstarter.
The average requested funding for all projects is around $60 thousand while the average funding requested by the successfully funded projects is around $44 thousand. For the failed projects it is $3500.
The top 10 successfully funded projects along with their links are given below