Radio listening statistics can help you make the case for how powerful radio is at engaging consumers. We’ve put together the latest stats that you can use in your presentations and marketing materials. Use them to make your point, or as a jumping-off point for further research.

The radio business is changing and we want to keep you up-to-date. The following statistics about radio listening provide insights into radio’s impact worldwide. Newspapers and radio were once the primary sources of breaking news and other pertinent information. The former has hit a low point, with many experts considering it a dying media. Countless individuals feel radio will suffer the same fate. On the surface, this assumption is logical, considering the number of emerging streaming platforms.

Podcasts are also looking to take the throne and throw radio into the waves of oblivion. Radio is a century-old media and you may think it’s time for something younger and more innovative to step up. However, if it does go, it will leave some pretty big shoes to fill.

Radio has been a companion for many, and people still see it as the perfect form of listening to music. Admittedly, there’s a downtrend in the number of home radios, but you can still find many people enjoying listening to the radio in their cars. Moreover, radio stations have evolved and adapted to new generations’ needs. As a result, you can still find such stations on popular platforms.

Will this form of media vanish with new generations, or will we keep surfing our favorite radio waves? Time will tell. For now, join us as we discover the most exciting radio listening stats.

Radio Listening Demographic Statistics

With the development of the digital age, younger generations have several sources of information and entertainment at their disposal. New methods of communicating with a broader audience are emerging, which is only normal.

Will radio be replaced by other popular platforms, or will people remain faithful? Let’s see how popular radio listening is among different generations.

1. Radio is listened to weekly by more than 3 billion people around the world.

(deloitte.com)

If you’ve been feeling like the radio is dead and you’re the only one who still listens to it, think again! Radio is actually alive and doing well.

It turns out, more than 3 billion people tune in every week to listen to the radio!

That’s incredible when you think about it—the reach that radio has. It can make you feel like you’re getting to listen in on the whole world’s conversation.

Radio remains a popular medium because it is accessible and versatile. It is a free technology that allows listeners to hear their favorite music or shows without cost, and it does not require any special equipment or training. Even with the rise of streaming services and podcasts, radio remains one of the most widely-used mediums around the world.

Radio has held onto its listeners because, despite the fact that it’s not as customizable as Internet-based platforms, it still offers something that no algorithm can: a connection to other human beings.

Most radio shows are hosted by real people, who have real conversations with their guests. And unlike podcasts or music playlists, which can be consumed while doing another activity, many people listen to their favorite radio shows while driving—making them perfect for unwinding after a long day at work or while completing a commute.

So if you listen to the radio every day (or just once in a while), know that you’re far from alone!

2. The typical US radio listener spends about 1 hour 39 min per day listening to the radio.

(statista.com)

Radio remains a pillar of the American media diet, with the average U.S. consumer spending 99 minutes daily on radio content. That’s about 10% of their total time awake. 

What accounts for this ubiquity? Radio has always had an advantage over other forms of media: you can consume it while doing other things. You can listen to it while driving, cooking dinner, getting ready for work, or walking down the street.

In many ways, the invention of the internet and smartphones have only made this easier to do—now you can listen to your favorite station no matter where you are.

3. Radio reaches 92% of adults in the U.S. every week.

(nielsen.com)

Radio’s mass appeal has remained consistent over time and represents America’s top reach medium.

Besides being a pioneering electronic medium, radio continues to reach more American adults than any other platform. Every week, radio reaches 92 percent of adults aged 18 and up in the United States.

T.V. comes in second by reaching around 87% of the adult U.S. population. Smartphones follow with 81%, while P.C. has only a 54% reach in the American population.

4. At 41%, Radio garners more listening time from US adults than any other source.

(nationalpublicmedia.com)

Many people assume that the internet has left radio in the dust. With so many online options for music, news, and entertainment, plus the popularity of podcasts, it’s easy to think that radio is a thing of the past. But here’s what you need to know: 41% of the listening time of US adults is spent with the radio.

That’s more than any other source—even more than music streaming services, which clock in at 18%, and even more than podcasts, which account for a mere 6% of listening time.

So what is it about listening to the radio? Why do we spend so much more time listening than doing any other type of media consumption? The answer may lie in our other activities. It’s difficult, if not impossible, to read a book while working out at the gym or folding laundry or washing dishes—and yet these are exactly the types of times when many people listen to audio content.

5. 124 million Americans listened to the radio every week in the first quarter of 2018.

(statista.com)

People use different media to gather relevant information, and radio is still at the top, at least in the United States. That is why 124 million weekly radio listeners in the first quarter of 2018 comes as no surprise. However, the listener’s age span is somewhat unexpected, though.

Many would expect to see the older generation using radio as a source of news. In reality, hundreds of millions of listeners aged 18-49 prefer to enjoy listening to the radio.

6. Radio is the medium of choice for 94% of people aged 35-49.

(nielsen.com)

Thanks to digital progress, the Internet has played a significant role in the decline of radio over the past couple of years. Still, radio stations managed to find their way through a crowded multimedia world.

Around 59.6 million or 94% of people aged 35-49 use the radio each month. On the other hand, nearly 114.9 million adults over 50 years of age listen to the radio regularly.

7. The number of radio listeners aged 13-34 has grown by 116% growth in 7 years

(nationalpublicmedia.com)

Radio is back in the game. Within the last seven years, the number of people who spend their time listening to radio programs has increased by a staggering 116%.

Whether it’s because of the recent events with the pandemic or something else, people aged 13-34 have started to pay attention to radio programs more.

8. 47% believe listening to commercials is a fair exchange for the free content they receive on radio.

(nationalpublicmedia.com)

You know how much we love listening to the radio! Well, it turns out that, nationwide, 47% of people believe that radio stations are worth the commercials they play.

When you think about it, it makes sense: ads are relatively short, and they don’t interrupt songs every two minutes. They’re just a quick break between songs, like one of those TV shows where they have lots of little skits in between the main events, or when you’re watching a sports game and there are all those little interviews with players and coaches during halftime.

But unlike those examples, radio ads don’t take away from the content. They just give you a short break so that you can collect your thoughts between songs.

And what’s more, most of us have had the experience of hearing an ad for something that ended up being exactly what we needed at that moment.

Like when someone says a thing about how much they love their new vacuum cleaner—and then later that week, you accidentally suck up your kid’s homework assignment in your old vacuum and now he’s mad at you! You’ll want to go out and buy yourself a new vacuum ASAP—and thanks to that radio ad, you know exactly which one is the most reliable one on the market right now.

9. 46% of listeners considered purchasing something after hearing a commercial on the radio.

(nationalpublicmedia.com)

Radio listeners are also really loyal—they tend to be the same people who will support local businesses in person, too. This means if you advertise on the radio, you’ll not only get lots of calls now but may also see an increase in foot traffic later as well.

There’s something special about radio—it’s personal, it’s fun, it’s entertaining… and lots of people still love it!

10. Thursday is the most popular day of the week for radio listening.

(insideradio.com)

If you’re in the radio business, you may have heard this said before: Thursday is the most popular day of the week for listening to the radio. But where’s the proof?

Well, we’ve got it right here.

Radio listener data from Nielsen confirms what radio executives and media buyers have empirically observed, which is that people listen to the radio most on Thursdays. The next most popular radio-listening day is Friday, followed by Wednesday, Tuesday, Monday, Saturday, and Sunday.

The numbers don’t lie: listeners love radio on Thursdays!

Why? Well, it could be because so many people are working on Monday and Friday, or it could be because Friday is a day off for so many people. It could also be that Sunday is more of a day for religious services and football games, which don’t get their programming from the radio.

Moreover, by Thursday, you’re tired of the work week but it’s not quite time to relax yet. Friday is just around the corner, and that means you need some tunes to get you through until then. Even though you can’t just leave work early or start drinking at noon, you can plug into your favorite local radio station and listen to your favorite songs until it’s finally time to go home.

But whatever the reason, Thursday is definitely the most popular day for radio listening!

11. By 2025, 18-34 year olds will most likely spend more time listening to the radio than watching TV.

(deloitte.com)

Despite all predictions, younger generations continue to trust the spoken media. TV viewing has significantly dropped among 18-34 year olds.

This might only be a temporary trend, but the fact is that TV viewing among the previously mentioned demographic is declining three times faster than it is with radio.

Consequently, in the future, people aged 18-34 will spend significantly more time listening to the radio than watching television.

12. Men account for approximately 55 percent of all listeners to the radio.

(blog.marketenginuity.com)

Radio waves gather people of all ages and with different economic backgrounds. When it comes to gender, around 55% of men spend their time listening to their favorite radio stations.

13. Boomers spend more time listening to the radio than any other generation.

(ugartowncommunications.com)

People aged 50-64 spend the most time on their favorite radio waves. Boomers represent the age group with the most hours spent in front of a radio, with a total of 15 hours per week.

14. Men between the ages of 45-54 prefer listening to classic rock radio stations.

(allbusiness.com)

Radio stations broadcast different formats, from news and religion to music. People between 45-54 years of age prefer listening to classic rock radio stations.

Think Led Zeppelin, Pink Floyd, the Doors, and many other evergreens. They really don’t make ‘em like they used to, do they?

15. There were 121.5 million radio listeners weekly in September 2021.

(radioink.com)

Since the Internet kicked in, many people have tried to foresee the radio’s future. Still, this industry remained one of the most influential. Despite the predictions, radio maintained a stable audience. In September of 2021 alone, radio reached 121.5 million listeners every week.

Radio Listening Statistics: Revenue

The following stats show the critical role of the spoken (and broadcast) word in people’s lives.

Millions of people decide to start their day with their favorite music or other radio programs. On-demand listening of radio programs has grown significantly, and many radio stations record above-average results as a result.

Here are some interesting revenue numbers.

16. With $69 million earned, WTOP was the highest-earning radio station in 2019.

(radio.co)

Statistics show most of the highest-earning radio stations come from the U.S. WTOP, a well-known 24/7 radio station from Washington DC, earned a staggering $69 million by the end of 2019. L.A.’s KIIS FM came second, with $61 million in earnings.

They’re heading the pack, which includes:

17. US radio broadcasters reached $20.73 billion in revenue in 2020.

(statista.com)

Radio revenue has been steadily increasing between 2005 and 2020. A slight decrease was reported between 2019 and 2020. Regardless, radio broadcasting companies in the U.S. generated $20.73 billion in revenue in 2020.

18. The US radio broadcasting industry is expected to gross $23.4 billion in 2022.

(ibisworld.com)

The radio industry’s market size in the United States grew at a slower rate than the overall Information sector. Between 2017 and 2022, the industry grew by 1.1 percent overall. Nonetheless, as measured by revenue, its market size is expected to reach $23.4 billion in 2022.

19. Radio ad spending reached $10.01 billion in 2020.

(statista.com)

It is only natural for individuals and businesses to place advertisements on the most influential media. The audio media reach remained on a high level. In 2020, spending on radio ads in the U.S. hit $10.01 billion.

According to experts ‘ predictions, this trend will continue to grow in the foreseeable future. Consequently, spending on radio ads could exceed $11.76 billion by the end of 2024.

Lesser-Known Radio Listening Statistics

Despite numerous (pessimistic) forecasts, the radio broadcasting industry has grown steadily. Because of it, a large number of people are able to make a living. Let’s look at some of the most incredible radio broadcasting job statistics.

20. 19,000 people lost their jobs in radio broadcasting between 2019-2020.

(statista.com)

The number of employees within the radio broadcasting sector is declining. In 2019, there were 267,000 people employed in U.S. radio broadcasting-related companies. On the other hand, only 248,000 still had jobs through 2020. Consequently, around 19,000 people had to switch jobs.

21. Broadcast announcers and radio DJs earned around $57,300 in 2020.

(bls.gov)

People love listening to the radio primarily because of the music. However, many people connect with radio speakers on a much higher level. We only hear their voices, but for most listeners, that’s more than enough to complete the picture.

The average broadcast announcer or disc jockey in charge of people’s favorite music earns $57,300 per year, as per 2020 statistics. Around 27,290 people held such positions the same year.

22. Radio broadcasting in New Zealand reached $477 million in 2021.

(ibisworld.com)

New Zealand’s radio broadcast landscape is constantly changing with the development of new technologies. Podcasts and other alternative informative methods have a substantial effect on the country’s radio industry.

Still, radio broadcasts in New Zealand hit a $477 million market share. In addition, there were 181 businesses in total employing 1,950 people.

23. Nearly half of all radio listeners in the U.S. fall into the $75,000+ income category.

(insideradio.com)

Radio broadcasts saw a significant drop in the audience in 2020, even though the number of listeners recovered during the following year.

Before the pandemic, people with an annual income of $75,000 and more made up 47% of the total radio listening audience in the U.S. However, things slowly changed at the beginning of 2021. Namely, around 52% of the total audience were people earning over $75,000.

24. 23 million people in South Africa listen to the radio every day.

(businesslive.co.za)

Radio is, by far, one of South Africa’s most popular media. In 2021, around 23 million people, on average, reported listening to their favorite radio station every day.

The vast majority of them prefer to relax and listen to the radio from home (80%). On the other hand, around 20% of South Africans stated they prefer to listen to their car radio.

25. US radio broadcasting companies spent $19.33 billion on operating costs in 2019.

(statista.com)

Costs to operate the radio broadcasting business are increasing every year. In 2019, broadcasting companies spent $19.33 billion. These expenses included employees’ salaries, facilities, maintenance, legal fees, accounting, utilities, and many other factors.

26. 71% of people cited the ability to multitask as the no.1 reason for listening to the radio.

(beyondwords.io)

Various factors affect one’s decision to turn to the radio. Most people (71%) consider listening to their favorite station helps them develop or maintain multitasking habits.

Around 60% said they listen to the radio because it helps them process information more efficiently. Furthermore, more than half of those polled (56%) prefer listening over reading, while 52 percent listen to the radio to stay informed.

27.  Spotify had 406 million users in 2021.

(musically.com)

The radio industry witnessed the massive rise of alternative audio platforms within the last decade.

Spotify is just one of many radio counterparts that caught the attention of a broader audience. This audio service allows instant access to millions of songs, videos, and podcasts.

As a result, Spotify reached 406 million users in 2021. What’s more, the platform hit 180 million premium subscribers. The radio broadcast industry is up against a worthy opponent.

29. 5.9 million Swiss listen to the radio every day.

(pwc.ch)

The popularity of radio broadcasters in Switzerland remains on a high level. Around 84% of people aged 15 and above listen to the radio every day. In total, this industry reaches about 5.9 million people in this European country.

Radio has a significant influence on the Swiss population. In fact, radio reaches more people than the Internet.

30. 19% of audio listening comes from smartphones.

(amplifimedia.com)

When it comes to audio listening, people are spoiled for choice. The majority of listeners continue to rely on traditional AM/FM radio (51 percent). The remainder derives from non-radio sources.

People are increasingly reliant on smartphones, which account for approximately 19% of total audio listening.

31. In 2020, 73% of people listened to the radio from their homes.

(trinityaudio.ai)

That might seem like a strange statistic, considering how many car rides most of us take on a daily basis. But it’s actually pretty telling about how our world is changing as we learn to cope with this pandemic and the challenges it’s brought us.

In 2020, a lot of us had been spending more time at home. We’ve all had to reduce our level of social interaction, and that means more time spent at home—with a lot less time spent driving ourselves places and enjoying the freedom of being on the road.

So it makes sense that 73% of people listened to the radio from their homes.

32. 59% of radio stations reported an increase in revenues in 2021

(reutersinstitute.politics.ox.ac.uk)

The pandemic has affected many industries. However, internet shopping reported a huge boom. Many people transitioned from traditional to online purchases, and this trend also affected the radio broadcasting economy.

During and after the pandemic, radio stations reported a significant increase in digital advertising. As a result, slightly less than 60% of media owners reported their revenues boomed in 2021.

33. The number of Americans subscribed to an audio service jumped to 47% in 2021.

(edisonresearch.com)

A number of events lead to people believing alternative platforms will replace radio as a listening medium.

In 2015, around 1 in 4 U.S. residents subscribed to an audio service. These platforms allow access to various content, including podcasts, shows, music, and more.

This trend continued to rise and reached its peak five years later. In 2021, 47% of Americans subscribed to an audio internet channel.

34. 60% of people believe radio advertisements are trustworthy.

(nielsen.com)

People still believe in T.V. and radio. In fact, the latest radio listening statistics show that around 60% of people remained confident in radio commercials’ reliability.

Moreover, radio listeners tend to be highly engaged with the content they hear; they give more attention to it than TV viewers do (who have many more distractions available to them). Because of this, radio listeners are better able to recall advertisements, which can be good for companies that advertise on radio stations.

35. Live radio makes up 64% of smart speakers’ content.

(www.gov.uk)

Around 30% of U.K. adults possess smart audio speakers. These devices make up 6% of the total audio consumption on the island. However, live radio accounts for 64% of smart speakers’ content.

36. 17% of Denmark residents pay for the news.

(journalism.co.uk)

Scandinavian residents believe information is power, especially people from Denmark, who like to stay updated no matter the cost. Hence, around 17% of the Danish have no problem paying for online news.

Around 19% of Finnish also subscribe to online news, but people from Sweden took this issue more seriously. As much as 27% of Swedes subscribe to internet news. Norwegians, on the other hand, take things to the next level, as almost half of the nation (42%) pays for the news.

37. 66% of people aged 55-75 listen to the radio because it’s free.

(deloitte.com)

Since every person is a unique individual, the reasons why someone enjoys listening to the radio are also different.

When observing people between the ages of 55 and 75, individuals state that this medium being entirely free is the top reason why they enjoy it.

Also, at the top of the list of reasons why they enjoy listening to the radio, respondents of the same age added the following:

• It is easier to listen to in the car: 62%
• I like to listen to live radio: 55%
• It’s more convenient: 45%.

Lastly, among the most compelling reasons for preferring radio over other information sources was that people don’t have to download anything (41%).

38. More than half of the American population (57%) has listened to a podcast in 2021.

(nationalpublicmedia.com)

Podcasts are arguably a new type of radio. They represent a unique format where you can listen and see the presenters at the same time.

Also, there are different platforms that broadcast podcasts, allowing people to subscribe and enjoy selected content.

In 2021, 57% of United States citizens said they listened to a podcast.

Conclusion

It’s hard to deny the power of radio.

Radio has been around longer than most of us can remember. Besides the newspapers, radio was the only source of information for many older generations. With the development of technology, many predicted radio stations to disappear.

Thanks to the emergence of third-party platforms, peoples’ favorite shows, music, and even news are at their fingertips. Thus, many experts expected people to switch to alternatives that offer more personalized content.

Nevertheless, radio reaches more people than any other media, including T.V. and the Internet. As a result, many still believe in this audio format and consider radio trustworthy and reliable. Despite all forecasts, this audio media remains one of the most influential, as you could see from the numbers above.

Now that we’ve gone through all these radio listening statistics, it’s easy to see that radio is still very much relevant today, and more so in some ways than ever before.

And even though people are listening more on their phones, the fact that they continue to tune in on their car radios means there is still a market for compelling, engaging ads that reach listeners on the go.

So don’t be afraid to “go old school” when it comes to attracting new customers—radio can still be one of your greatest assets.

We hope you’ve enjoyed the stats! If there’s anything else you want to know about radio or want us to send you more statistics, just let us know and we’d be happy to oblige.

Happy listening!

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Sources

• deloitte.com
• statista.com
• nielsen.com
• nationalpublicmedia.com
• blog.marketenginuity.com
• sugartowncommunications.com
• allbusiness.com
• radioink.com
• raidio.co
• statista.com
• ibisworld.com
• statista.com
• statista.com
• bls.gov
• ibisworld.com
• insideradio.com
• insideradio.com
• businesslive.co.za
• statista.com
• beyonwords.io
• musically.com
• pwc.ch
• amplifimedia.com
• trinityaudio.ai
• reutersinstitute.politics.ox.ac.uk
• edisonresearch.com
• nielsen.com
• gov.uk
• journalism.co.uk

The most recent vaping statistics show the latest trends in the global e-cigarettes industry. For centuries, people have enjoyed tobacco products. Traditional cigarettes have become so popular that they were once considered a status symbol. It has long been a public secret that tobacco products have become dominant due to their specific composition.

Thanks to the nicotine and addiction this cigarette supplement produces, tobacco products have long been all the rage among people. However, many have seen the harmful effects of such products over time and have long sought an alternative. Electronic cigarettes emerged as a (less than) perfect solution.

What is Vaping?

Vaping products consist of small devices that are replenished with liquid. The same liquid is heated in the device and creates an aerosol, or vapor, hence the name. These products have various names, from steam to electronic cigarettes. They come in different shapes and tastes, which is why the number of users of these products increases every day.

The growing popularity of vaping is supported by the fact that an increasing number of studies unequivocally show vaping is less harmful compared to its traditional counterpart.

Find out the most interesting but also the most intriguing vaping stats in 2022 below.

Vaping Statistics: A Little Bit of History

Cigarettes have always been peoples’ favorite pastime. While some were mere users of tobacco smoke, others became addicted to nicotine and its impact on their bodies. However, history shows that people have been looking for an alternative to tobacco products for decades.

Only with the advancement of technology were the conditions created for the development and popularization of the electronic alternative to tobacco products. Below you’ll find out how it all started.

1. 1930 recorded the first attempt at making e-cigarettes.

(casaa.org)

Though we can look at vaping as a recently coined term, the idea of having e-cigarettes is much older. In 1930, an inventor named James Robinson was the first to patent electronic cigarettes.

However, his patent was never introduced to a broader audience. Moreover, there are no reports of his patent seeing the light of day.

2. In 2004, the first mass-market electronic cigarettes were introduced.

(europepmc.org)

After the first patent, there were a few (unsuccessful) attempts of creating e-cigs back in the day. In the ’80s, Phil Ray and Norman Jacobson were first to create something that resembled e-cigarettes. Unfortunately, tobacco users didn’t connect with their devices, which ended as a failed attempt.

Only at the beginning of this millennium did we see the first successful batch of electronic cigarettes. This product originated in China, specifically in Beijing. After the patent in 2004, vaping devices slowly became trendy and started spreading from Europe to the U.S.

3. The U.S. first saw e-cigs in 2006.

(ncbi.nlm.nih.gov)

It wasn’t long before vaping jumped across the pond and hit the American continent. Just two years after the prototype of modern electronic cigarettes, vaping devices flooded the U.S.

The market responded quickly, and the emergence of purchasing channels led to the further development of these products. Relevant vaping statistics show these products first crossed U.S. borders in 2006.

Vaping Demographic Stats

Vaping is a relatively new term, but it has quickly taken hold of people of all ages. Some found an alternative to smoking in electronic cigarettes, while others were just looking for a leisurely pastime.

However, some saw vaping as a chance to fit in better with society. This refers to young people, primarily middle school and high school students. Some results were expected, while others were surprising. Let’s check the numbers.

4. 3.6 million people in the U.K. use e-cigarettes.

(ash.org.uk)

Vaping popularity in the U.K. is on the rise. During 2012, only 1.7% of the British population enjoyed electronic cigarettes. The peak of their popularity came in 2019 when 7.1% of the population used these devices.

By 2020, the number of vaping device users decreased slightly, to 6.3%. In 2021, things started going back to normal. Hence, a total of 7.1% of the population uses these nicotine replacement devices.

5. In 2018, 20.70% of high-school students used e-cigarettes.

(bmcpublichealth.biomedcentral.com)

The percentage of young people who use or have at least tried e-cigarettes grows day by day. In 2012, the number included only 2.4% of young people, as per vaping statistics. However, only 3 years later, 5.2% of young people were regularly enjoying vaping. In the following years, the number of adolescents who used e-cigs skyrocketed. In 2018, 20.70% of the young population used e-cigs regularly.

6. In 2021, more than 2 million teens in the U.S. vaped.

(edition.cnn.com)

The U.S. is facing an e-cig epidemic since around 2 million teens vape regularly. Moreover, almost half (approximately 43%) stated they use electronic cigarettes on a daily basis.

Flavored cigarettes are among the most popular type. Nearly 85% of teens stated they prefer using vapes with different flavors.

7. 27.6% of U.S. high school students use e-cigs every day.

(fda.gov)

Despite government efforts to prevent selling vaping products to youngsters, a portion of teens in the U.S. still managed to find their way to e-cigarettes. Around 27.6% of high-school children reported using vaping devices daily.

What’s more, vaping also became a trend among the younger population. One in twelve middle school students stated they use e-cigarettes every day. In total, this number reached 8.3%.

8. 30% of students with medium-sized budgets are more likely to use e-cigs.

(academic.oup.com)

Sometimes, telling your teens to spend pocket money however they want can have consequences on their health. Studies show that not only U.S. kids are at risk of e-cigarettes, but also teens from E.U. countries.

Teens with larger budgets are more likely to spend their money buying e-cigs than those with little to no cash, which is understandable.

Additionally, the same study shows that teens from Poland and Latvia with a mid-size allowance are more likely to purchase vaping products compared to their peers with lesser budgets.

In other words, one in three students with a medium-sized allowance will spend their cash on e-cigs.

9. 57.1% of high-school students obtain vaping products from their friends.

(jamanetwork.com)

High-school students are not allowed to buy e-cigarettes and similar products. Still, they’re resourceful enough to find a way to bend the rules. As a result, most high-school students are looking to find a helping hand while getting the desired vaping product.

More than half of them (57.1%) stated they obtain e-cigarettes from their friends. On the other hand, around 58.9% of middle-school students reported using the same method.

10. Retail stores are the primary source of e-cig knowledge among 68% of young people.

(ncbi.nlm.nih.gov)

Have you ever thought about the way young people find out about vaping? The Internet would probably be the first guess for many, considering the fact youngsters are more tech-savvy than older generations. However, the reality is that only 41% of youngsters first come across e-cigs via social networks.

Almost 68% of young people find out about vaping products through retail stores’ advertisements.

11.  People aged 18-29 are most likely to vape.

Young adults in their late teens and 20s are most likely to use e-cigarettes. Nearly 17% of 18- to 29-year-olds reported regularly vaping while the national average in the US is 6%.

(news.gallup.com)

12. Americans with household incomes under $40,000 are 1.4 times more likely than other income groups to use e-cigarettes.

(news.gallup.com)

People in the lower-income brackets are more likely than their wealthier counterparts in the higher-income brackets to vape or use smoke e-cigarettes.

13. Nearly twice as many Americans without a college degree (7%) vape regularly as those who have a college degree (3%).

(news.gallup.com)

As Americans’ education levels increase, their likelihood of regularly vaping decreases.

The share of American adults who vape regularly is twice as high among those who never went to college (7%) as it is among those who have graduated college (3%).

Vaping Market Size Stats

The popularity of vaping products is growing. Consequently, e-liquids are slowly replacing classic tobacco products. Manufacturers of vaping products are increasingly advertising their products. In addition, you’ll find various studies claiming that e-liquids are basically healthier than tobacco.

Therefore, more and more people are replacing cigarette filters with rechargeable electronic devices. Let’s see what impact this has on the e-cig market.

14. The number of available e-cig flavors in the U.S. surpasses 3,000.

(mordorintelligence.com)

E-cigarettes represent the majority of the global U.S. tobacco landscape. There are more than 3,000 different vaping flavors available in the U.S. market.

15. In 2020, retail stores held an 80% vaping market share.

(grandviewresearch.com)

Before online marketplaces kicked in, people could obtain vaping products in retail stores. In 2020, most e-liquid products were available at gas stations and vape stores. Users could test various devices before making a decision on whether or not to buy a product.

16. The e-cigarette market could reach $45 billion by 2026.

(globenewswire.com)

Many people consider vaping to be healthier than smoking cigarettes. This is just one of many causes why the e-cigarettes market has been booming. The vaping companies’ business model plays no small part in the global e-cigs market size.

Namely, e-cigarette companies constantly evolve and offer new flavor products. As a result, vaping products sales increase daily. However, standardization issues and the lack of government regulation hampers the vaping products’ market growth. Despite these factors, the global e-cig market value could reach $45 billion by 2026.

17. The e-cigs market reached $20.4 billion in value in 2021.

(imarcgroup.com)

One of the biggest causes of the growing value of vaping products is the consumer’s desire to reduce or abandon tobacco products. Also, e-cigarettes are gaining popularity because more and more people believe they are less harmful than their traditional counterparts. As a result, vaping products reached a $20.4 billion market value in 2021.

18. 47 countries have banned e-cigarettes.

(profglantz.com)

Vaping is not popular in every region. Some countries have either partially or entirely banned vaping products. While some believe these countries did their best to maintain public health, others believe such decisions are motivated by a hidden agenda.

Nonetheless, some regions prohibited the sale, import, and manufacture of e-cigarettes, while others went a step further and prohibited transport, distribution, and storage. In total, 47 countries declared war on e-liquid products.

Other Interesting Vaping Statistics

19. 53% of vapers use a single device.

(publications.gc.ca)

According to a study conducted in 2020, slightly more than half of the vapers (53%) prefer to use one device. Also, the same paper included testing on people using multiple devices. As many as 43% of correspondents stated they use several devices to switch between flavors.

20. A total of 9,700 people in the world search for the phrase “Is vaping safe?” each month.

(trends.google.com)

It’s no secret that in the new digital age, people frequently find themselves caught in the crossfire of various interest groups.

On the one hand, proponents of electronic cigarettes point out that this product is much healthier than traditional tobacco. However, some studies contradict these assertions. In between are people who aren’t sure who to trust.

As a result, about 9,700 people worldwide ask the same question every month – Is vaping safe?

21. Around 54.2% of people aged 15-24 will consider quitting vaping in 2022.

(truthinitiative.org)

The latest Truth Initiative study included a younger population aged 15-24. According to the data, slightly more than half of the respondents (54.2%) expressed a desire to stop vaping during the year. As a reason for this decision, the correspondents cited health, financial and social reasons.

22. People spend between $50 and $75 per month on e-cigs.

(ncbi.nlm.nih.gov)

There’s a correlation between the amount of cash spent at vape shops and consumer behavior. Higher budget consumers ($50 and more) typically use lower nicotine levels. On the other hand, they use more e-liquid. Those who spend less money on vaping reported the usage of a higher level of nicotine.

People spend from $10 to $250 per month on e-liquids. That said, individuals spend $50-$75 on average in vaping shops every month.

23. More than 66% of JUUL users aged 15-24 are unaware their products contain nicotine.

(cdc.gov)

JUUL is the top-selling e-cig brand in the United States, and its products are usually people’s first pick. Since vaping has become more popular than ever, information about such products is just a click away.

Still, many people, especially the younger generation, aren’t that knowledgeable when it comes to these products. Consequently, only a third of users between 15 and 24 years of age are aware JUUL products contain nicotine.

24. 16% of U.S. adults prefer cigarettes over vaping.

(news.gallup.com)

It’s no secret that there have been numerous campaigns against smoking traditional cigarettes. Users and non-smokers alike are at the point where both groups are fully aware of the potential health consequences of consuming nicotine products. Consequently, the number of cigarette smokers declined within the last 30 years or so.

Vaping, on the other hand, doesn’t suffer from such bad publicity (yet). This activity is not approved by the U.S. Food and Drug Administration as a method to quit smoking.

Despite the absence of official permission, people still use it as a means to lower the usage of tobacco products. Still, 16% of adults in the United States continue to be more likely to smoke tobacco than vape.

25. 64.6% of people in the U.K. who use vaping products are ex-smokers.

(ash.org.uk)

As mentioned previously, people use vaping products for various reasons. Some have to do with curiosity while others help individuals blend into various social groups. However, the biggest reason is to quit smoking. Consequently, around 64.6% of people in the United Kingdom who vape are ex-smokers.

Conclusion

Vaping has become particularly trendy over the past couple of years. People typically associate it with a way to quit smoking cigarettes. Depending on the source, you’ll get different feedback regarding e-liquids and their harmfulness/positive effects on the human body.

However, despite conflicting information, this industry is growing. The fact is that, among the people who enjoy vaping, most are ex-smokers. Recent vaping statistics have shown that more and more young people use e-cigarettes. Among them, middle-school and high-school students are most at risk. This information must be taken seriously.

The industry is not yet fully regulated and is under legal fire in dozens of countries. Time will tell whether or not vaping will heal from the stigma that has developed around it.

257 Vape Shop Name Ideas to Get Your Vape On

313 Cigar Business Name Ideas to Smoke the Competition

Sources

• casaa.org
• europepmc.org
• ncbi.nlm.nih.gov
• ash.org.uk
• bmcpublichealth.biomedcentral.com
• edition.cnn.com
• fda.gov
• academic.oup.com
• jamanetwork.com
• ncbi.nlm.nih.gov
• news.gallup.com
• mordorintelligence.com
• grandviewresearch.com
• globenewswire.com
• imarcgroup.com
• publications.gc.ca
• cancerresearchuk.org
• trends.google.com
• truthinitiative.org
• profglantz.com
• ncbi.nlm.nih.gov
• cdc.gov
• news.gallup.com
• ash.org.uk

Business ethics is the term used to refer to all moral and ethical practices implemented by companies for the purpose of employee care, and societal impact. Though ethics have always been an essential consideration for many companies, the focus on this concept has grown significantly in recent years, as consumers become more discerning about which brands they do business with.

Today’s customers believe the companies they buy from should reflect their own personal values and beliefs. As such, many consumers will refuse to purchase anything from a brand without a solid approach to ethical behavior. Now ethical consumer spending is at an all-time high, organizations are under more pressure to demonstrate their commitment to business ethics.

The following business ethics statistics will offer a crucial insight into the ethical aspects of running a successful company in 2022.

Business Ethics Statistics

1. Global ESG (Environmental, Social, and Governance) assets will reach a value of $140.5 trillion by 2025.

(Bloomberg)

Recent reports from Bloomberg show Environment, Social, and Governance assets among businesses are set to reach a value of around 140.5 trillion by 2025.

The findings of the report, conducted by McKinsey and the Global Sustainable Investment Alliance, suggest companies are investing more into ESG solutions as a result of the pandemic, and a rising focus on sustainability and ethical business operations on a global scale.

2. Over a third of employees believe the ethical standards in their organization have improved since the pandemic

(IBE)

The “Ethics at Work” study in 2021 by the Institute of Business Ethics revealed some important discoveries about internal ethics in the workplace. Around a third of employees (37%) say the ethical standards in their organization have improved since the pandemic. Only 8% believe ethical standards have gotten worse.

More than half of employees are now in organizations with a comprehensive ethics program (57%), and around 86% of employees say honesty is practiced frequently or constantly in their organization. This is in an increase from 79% in 2018.

While only around 17% of employees are aware of misconduct in their organization at present, 53% of staff say their companies have a “Speak Up” program in place.”

3. In 2020, 1 in 5 US employees were in workplaces with strong ethical cultures

(Ethics.org)

The annual Ethics.org research into the power of ethics in business environments found around 1 in 5 employees were working for a company with a strong ethical culture in 2020, This was a massive increase from only 1 in 10 employees in the same situation in 2000.

Globally, around 14% of employees say they’re working with organizations with a high ethical culture. Unfortunately, there are some significant issues in the workplace too. Around 29% of employees said they felt pressure to compromise their standards in 2020.

4. ESG data spending is growing by 20% year-over-year

(Substantive Research)

Spending on Environmental, Social, and Governance data used to empower companies in the quest to pursue better ethical business initiatives is increasing. According to a study by Substantive Research, investment groups are increasing their budgets in ESG data, to learn more about the kind of sustainability initiatives they need to leverage to perform ethically.

According to the report, the pandemic has pushed social issues and ethics to the forefront, with topics like human rights, equality, and product safety becoming more important for everyone.

5. 1 in 5 retailers drop suppliers due to sustainability concerns

((Barclays Banking))

“Reshaping Retail”, a report issued by the corporate banking arm of Barclay’s corporation, revealed that a fifth of the largest retailers in the UK canceled contracts with suppliers on the grounds that they weren’t meeting with environmental, social, and governance standards (ESG).

The most common reason for eliminating contracts with suppliers was the use of materials that did not meet sustainability criteria. Companies were also concerned about suppliers failing to provide employees with the correct working conditions.

Retailers are also increasingly requesting suppliers join sustainability certification schemes to prove they’re meeting standards. However, only around 28% of retailers joined a new scheme in the last year.

6. Around 8 in 10 employees now report misconduct

(Ethics.org)

The Ethics.org report on ethics and compliance in 2020 found around 8 in 10 employees worldwide now report misconduct when they encounter it in a business environment. In the US and globally, the most common forms of observed misconduct included lying and favoritism.

Unfortunately, there seems to be a growing issue with retaliation in response to employees reporting misconduct too. Around 61% of global employees report experiencing retaliation. The problem is even greater in the US, with 79% of employees reporting retaliation.

7. Two-fifths of employees experience retaliation after reporting misconduct

(IBE)

Research revealed in the “Ethics at work” study by IBE indicates around 57% of employees on average (among the respondents in the 10 countries surveyed) will speak up about misconduct. Countries like the UK and Switzerland had the most issues encouraging teams to speak out.

In this report, the IBE also found around 34% of employees were concerned speaking out about ethical problems would put their job at risk. Another 34% said they believed their companies wouldn’t act even if they did speak up.

A significant 43% of employees who said they had reported misconduct in the past also revealed they had experienced retaliation as a result.

8. 83% of organizations say ethics and compliance considerations shaped their response to the challenges of the pandemic

(LRN)

According to a study by LRN on ethics and compliance standards in business during 2022, around 83% of surveyed organizations say ethics and compliance considerations have shaped their response to the challenges of the pandemic.

Another 66% of the people from the survey agreed their senior staff members used ethics and compliance considerations in their decision-making strategies during the pandemic.

9. Less than 3% of suppliers to large businesses have emissions targets in place

(CDP)

Sustainability and the reduction of emissions are important considerations in business ethics. Unfortunately, research from the CDP in 2022 found only around 3% of suppliers to large corporations have science-based emissions targets in place.

The analysis found that around 56% of suppliers have no targets in place at all, indicating a significant problem with achieving ethical standards. According to the CDP, the current pace of adopting sustainability efforts would mean it took more than 10 years to ensure suppliers reach their targets.

10. Companies spend around 11% of their turnover to improve credentials

(Barclays Banking)

The Barclays banking study into reshaping retail indicates an increasing focus on ESG and ethical practices among investors, workers, and the general public. On average, companies are spending around 11% of their turnover just to improve their credentials.

Additionally, 79% of retailers say they believe long-term improvements to the ESG credentials of the supply chain will be crucial to their success in the long term. Although Barclays’s study notes there may be a cost attached to tightening such standards in business, the evidence suggests customers will pay more for products that meet stringent ethical and sustainable requirements.

Customers will pay up to 4.55% more on average for ethical products.

11. Only around 38% of businesses are engaging with suppliers on ethical strategies to prevent climate change

(CDP)

A study conducted by the CDP in 2022 found only around 38% of end-user businesses are currently working with their suppliers to reduce their impact on the climate. Around 47% of downstream companies, such as retailers, and manufacturers, have begun to look beyond first-tier suppliers on deforestation risks.

For around 71% of suppliers who reported reduced emissions during the study, the results were promising – translating to a cost saving of around $29 billion. The CDP has also noted that businesses could risk additional costs (worth around $120 billion) to their supply chains if they fail to respond to climate and environmental risks in the next five years.

12. Only 49% of companies prioritized their ethics and compliance programs in 2022 to make them more user-friendly

(LRN)

An annual report on ethics and compliance strategies by LRN revealed some significant weaknesses in business ethics efforts in recent years. According to the report, only 49% of respondents prioritized their E&C program by making it more user-friendly and employee-focused.

Furthermore, the study revealed only 40% of organizations indicated their ethics and compliance team had strengthened risk controls in the last year to address privacy, and cybersecurity issues. Around 35% of respondents said the company had simplified or modified compliance procedures to help employees meet new challenges, and only 25% said they were offering ethics training to teams.

On the plus side, many companies did report the expected negative effects of the pandemic on ethics and compliance strategies have diminished.

13. 63% of customers want to see more ethical practices from companies

(Barclays Banking)

Barclays’ study on ethical business and sustainability in the retail landscape shows retailers are beginning to show a higher awareness of the level of influence imposed on them by regulators and customers. Around 63% of customers surveyed in the study said they want to see the industry make further sustainable and ethical changes.

Around 50% of customers said they want to see the government do more to maintain a more ethical landscape. What’s more, 52% of consumers said the ethical and sustainable credentials of a business will be an essential factor for them when choosing what to purchase.

14. 40% of customers in the UK say businesses act ethically

(IBE)

According to the “Attitudes of the British Public to Business Ethics” report from 2021 by IBE, around 40% of the public think businesses behave ethically. However, 67% feel charities act in an ethical manner. Less well-regarded for ethical practices are politicians (20%) and the media (23%).

The IBE also found certain ethical dilemmas were more concerning to the British public than others. For instance, an important ethical issue for 47% of respondents was corporate tax avoidance. However, businesses’ responsibility for their impact on the environment is the second most important concern for all generations at 29%.

15. Ethical spending grew to £121.91 billion in the UK in 2020

(Co-Operative)

A report from the Co-Operative brand released in 2021 highlighted the rising theme of ethical consumerism in the United Kingdom. According to the report, ethical spending hit a value of around £121.91 billion in 2020, an increase of around 23.7% from the year before.

In the report, ethical consumerism was defined as the personal allocation of funds towards a company or service provider invested in helping to address a specific issue, like the environment, social justice, or animal welfare.

According to the Co-Op, ethical spending per household had increased to around £2,189 in 2020, a rise of around 113% from 2010.

16. Around 49% of consumers have begun to buy from or increased their purchases of companies because they trust them.

(PWC)

The Institute of Business Ethics and PWC introduced a report in 2021 showing the importance of trust in business environments. According to this report, consumers, and employees both say they feel more capable of trusting businesses now than before the pandemic.

Around 49% of consumers say they have started buying from or increased their purchases from a company because they trust the brand. Another 33% of consumers said they have paid more because they trust the business.

The report also revealed around four out of five employees report trusting the company they work for more than they did before the pandemic.

17. Companies with ethical programs see more honesty (91% vs 79%) in the workplace

(IBE)

According to the IBE “Ethics at Work” report for 2021, organizations with ethical programs in place see better results overall. Employees in companies with a comprehensive ethics program and guidelines to follow are more likely to say honest is practiced frequently or always at work (91% compared to 79%).

The IBE report also found employees in companies with ethical programs and guidelines were more likely (89% compared to 43%) to say senior management professionals took ethics seriously in their organization.

Employees aware of an ethics program in their business were also more likely to have raised their concerned about any misconduct they were aware of (72% compared to 36%) and they were more likely to be satisfied with the outcomes of the report (80% compared to 26%).

Conclusion

And that’s a wrap!

We know, we know: it’s not the most exciting bit of content on earth, but you did it! You stuck with us here and we’re proud of you for making it through to the end.

Whether you’re a business owner, potential employee, or just want to be more informed about the world of business ethics, we hope this was helpful for you! 

Business ethics are a key part of running any successful organization. And if you don’t have them, other people will notice—and it might even have a negative effect on your bottom line.

We know that this is an emerging field, which means that it can be hard to stay up-to-date sometimes. We’re always looking for ways to help our readers understand this complex topic better and we welcome any new research or suggestions for other content we can create to do so.

It’s important that we all keep a finger on the pulse of what is happening in the world of business ethics, so if you find any statistics to add or if you know of any related studies that we should include, please let us know!

If you enjoyed reading this article, please share it with your friends and family on social media! And if you have any questions, or if there’s anything else we can help with, please don’t hesitate to reach out.

Thank you so much!

20 Impressive Corporate Gifting Statistics for 2022

382 Corporate Blog Name Ideas (Creative and Unique)

Sources

• Bloomberg
• IBE
• Ethics.org
• Substantive Research
• Barclays Banking
• Ethics.org
• IBE
• LRN
• CDP
• Barclays Banking
• CDP
• LRN
• Barclays Banking
• IBE
• Co-Operative
• PWC
• IBE

Crypto mining is the process by which cryptocurrencies are brought into existence as a part of the blockchain network. Miners use algorithms to solve complex mathematical hashing ‘puzzles’ to unlock ‘blocks.’ In return, these miners get a reward in the form of cryptocurrency.

While previously mining was considered profitable and more rewarding than crypto trading. Lately, environmental, sustainability, profitability, and cost-linked concerns have arisen.

In this blog post, we will give you an insight into the cryptocurrency mining market through 19 well-curated statistics. Here’s a summary.

• The crypto mining market is valued at ~USD 2 billion and will grow at 7.05% CAGR.
• The United States is #1 in crypto mining by percentage share in global hash rate, Kazakhstan ranks #2.
• In 2021, Bitcoin miners raised USD 2.3 billion in debt and USD 3.9 billion in equity.
• Till Crypto Mining Ban, China accounted For 75% of the global hash rate.
• Bitcoin mining takes up nearly 3x the energy than gold mining.
• In 2021, Bitcoin miners made USD 15.3 billion, Ethereum miners made USD 16.5 billion in revenue.
• Around 0.1% of all miners control nearly 50% of all mining capacity in Bitcoin.
• New York is home to the most bitcoin miners in the U.S.

The most popular of the mined cryptos is Bitcoin. The mining process of Bitcoin globally consumes more electricity than many countries. While its price keeps hitting newer highs every few months, mining is proving to be less cost-effective with time. Innovations have given rise to newer cryptocurrencies that are sustainable, cost-effective, and profitable to mine.

Crypto Mining Statistics

1. The crypto mining market is valued at around $2 billion and is expected to grow by 7.05% annually.

(Verified Market Research)

According to Verified Market Research, the cryptocurrency mining hardware market was valued at USD 1.49 billion in 2020. The market is expected to grow at a CAGR of 7.05% between 2021 and 2028.

By 2028, the crypto mining hardware market could be worth more than ~USD 2.58 billion.

2. The US accounts for the largest share of cryptocurrency mining.

(CBECI)

Hashrate is the measure of computational power used to process and add blocks in a Proof-of-work (PoW) blockchain. The unit for hash rate is hash/second.

As of August 2021, according to Cambridge Bitcoin Electricity Consumption Index (CBECI), the United States accounted for 35.5%, Kazakhstan for 18.1%, and the Russian Federation for 11.2% of the total global hash rate.

These top 3 countries comprised ~65% of the worldwide hash rate.

3. Only 21 million bitcoins can exist, and fewer than two million are left to mine.

(Blockchain.com)

The total number of mineable bitcoins was limited to 21 million by its creator Satoshi Nakamoto. So far, ~19 million bitcoins have been mined leaving only ~2 million mineable bitcoins. 

The approximate number of new bitcoins mined per day is 900. On average, 144 blocks are added to the blockchain daily and the reward for each block is 6.25 Bitcoin.

The last bitcoin is expected to be mined by the year 2140.

4. In 2021, Bitcoin miners raised USD 2.3 billion in debt & USD 3.9 billion in equity.

(Galaxy Digital Research)

According to Galaxy Digital Research, Bitcoin miners raised a total of USD 2.3 billion in publicly announced debt. Private miners raised USD 914 million, and publicly

traded miners raised USD 1.4 billion. Nearly half was raised by issuing convertible notes. Around 93% of this debt was raised in the last quarter(Q4) of 2021.

On the other side, Miners raised a total of USD 3.9 billion in equity, of which publicly traded miners raised USD private miners accounted for USD 1.5 billion.

5. Until China’s ban on crypto mining, its share of the global hash rate was 75%.

(CBECI)

China accounted for nearly ~75% or three-quarters of the global hash rate in the world. China started tightening the noose on cryptocurrencies by first banning financial institutions from indulging in cryptocurrencies.

In June 2021, China imposed a blanket ban on mining cryptocurrencies, after which China’s share in the global hash rate fell to 0%. After China imposed the ban on crypto mining, many Chinese miners moved their equipment to Kazakhstan, explaining a sudden spike in mining activity in the country.

Kazakhstan offers cheap real estate and relatively cheaper electricity, ideal for setting up crypto mining farms. These miners work anonymously, and therefore, one cannot get a clear picture of China’s contribution to the global hash rate.

By 2018, Bitmain Technologies Ltd, a Chinese company, was the world’s largest manufacturer of crypto mining equipment. After the ban in 2021, the business took a hit after the price of its top rigs slumped by 75% due to low or no demand.

6. Bitcoin mining consumes nearly 150 TWh or 0.6% of the world’s electricity supply annually

(Digiconomist)

According to CBECI estimates, Bitcoin mining consumed an estimated 150 terawatt-hours of electricity in a year. This accounted for 0.6% of total electricity produced in a year globally. Bitcoin mining consumes more electricity than nearly 159 countries.

Over the years, the electricity required to mine a bitcoin has increased significantly. The supply of bitcoins is limited. The more they get mined, the harder it is to mine them further, a simple example of restricted supply and elastic demand.

The probability of one making a successful mine depends on the hash rate. The hash rate relies on many factors, one of them being computational power. The more the number of computers get added to the process, the higher is the energy demand.

As of February 14, 2022, the Ethereum network consumed an estimated ~113 TWh of electricity annually. While Ethereum was a low energy consumption crypto for quite some time, its demand and technological advancement have given energy demand a push.

7. Around 58% of the total electricity used in Bitcoin mining comes from renewable sources.

(Bitcoin Mining Council)

According to a Q4 2021 Bitcoin Mining Council(BMC) report, the global mining industry’s sustainable energy mix stood at 58.5%, up 1% from Q3 2021.

The report also said that the Bitcoin Network’s global technological efficiency grew by 9% in Q4, to 19.3 petahash per MW.

8. Bitcoin can be mined in as little as 10 minutes or as many as 30 days.

(Bitcoin: A Peer to Peer Electronic Cash System)

The Bitcoin mining algorithm is made in a way to find new blocks once every 10 minutes, known as ‘Block Time’. Essentially, in 10 minutes, you can either mine one block (6.25 BTH) or absolutely nothing.

The time taken to mine a bitcoin can range anywhere from 10 minutes to 30 days, depending on how fast or extensive your mining system or pool is.

Similarly, the block time for Ethereum (ETH) is 12-14 minutes, and that of Dogecoin is 1 minute.

9. Bitcoin and Ethereum contribute to approximately 4% of global carbon emissions, annually.

(Digiconomist)

As of February 14, 2022, Bitcoin mining in total contributes to nearly 97.14 metric tonnes in CO2 emissions same as the carbon footprint of Kuwait. On the other hand, Ethereum contributes to almost 53.85 metric tonnes, which is comparable to the carbon footprint of Singapore.

In total, the two coins contribute to nearly 150 metric tonnes of CO2 emissions annually. Considering that annual global CO2 emissions are almost 36 billion metric tonnes, Bitcoin and Ethereum contribute to nearly ~4% of it.

10. Bitcoin mining uses up to 3 times as much energy as gold mining.

(Max J. Krause & Thabet Tolaymat)

According to a 2018 research paper by Max J. Krause & Thabet Tolaymat, Bitcoin mining took up nearly 17 megajoules to mine a USD 1 worth of Bitcoin while gold took only 5 megajoules for mining gold worth USD 1.

According to the same report, mining Ethereum, Litecoin, and Monero mining required 7, 7, and 14 megajoules, respectively. On the other hand, mining aluminum, copper, platinum, and rare earth oxides required 122, 4, 7, and 9 megajoules.

11. Polkadot is the most energy-efficient and carbon-friendly cryptocurrency.

(Crypto Carbon Ratings Institue)

According to Crypto Carbon Ratings Institute, Polkadot(DOT) has the least total electricity consumption(70,237 kWh/year) and the least total carbon emissions(33.36) tCO2e/year annually.

While Crodona consumed the least electricity per node at 199.45 kWh/year, Solana had the lowest electricity per transaction consumption at 0.166 Wh/Tx.

12. In 2021, Bitcoin miners earned USD 15.3 billion, while Ethereum miners earned USD 16.5 billion.

(The Block | Research)

According to Digital Asset Outlook 2022 by The Block and GSR, the Bitcoin miners’ revenue stood at USD 15.3 billion for the year 2021, while Ethererum miners’ revenue stood at USD 16.5 billion.

When compared with the previous year, Bitcoin miners’ revenue grew by 206%, while Ethereum miners’ revenue increased by 678%.

In November 2021, miners’ revenue for Dogecoin hit USD 1 billion, up 600% from March 2021.

13. Bitcoin mining generates 32.80 kilotonnes of electronic waste every year

(Digiconomist)

According to Digiconomist, as of January 2021, Bitcoin mining generated 32.80 kilotonnes of electronic waste every year, comparable to the small IT equipment waste of the Netherlands.

14. In the first half of 2021, cryptojacking rose by 23%, reaching 51.1 million attacks.

(2021 SonicWall Cyber Threat Report)

Cryptojacking is the act of hijacking a computer to secretly mine cryptocurrencies against the users’ will.

According to a SonicWall report, Cryptojacking cases rose by 23% in 2021. The total number of such attacks stood at 51.1 million in the first half of 2021.

While the total number of attacks in North America rose by ~22%, total attacks in Asia grew by a staggering ~118% and in Europe by ~248%.

15. By the end of 2021, 16 crypto mining companies were listed on the NASDAQ.

(Galaxy Digital Research)

According to Galaxy Digital Research, the number of crypto mining companies listed on NASDAQ rose from 6 in Q1 2021 to 16 in Q2 2021, with seven additional listings pending. The numbers are expected to grow throughout 2022.

16. F2Pool is the world’s largest mining pool by hashrate.

(BTC.com)

According to BTC.com, F2Pool is the largest bitcoin mining pool by hash rate share and the number of blocks mined. F2Pool’s share of the total Bitcoin network hash rate is 9.54%; it has mined 69,128 blocks to date.

FoundryUSA, F2Pool, AntPool, Poolin, and ViaBTC are the largest mining pools in the world, all situated in the United States.

17. Mining difficulty has doubled since the bottom reached after China’s ban.

(blockchain.com)

Mining Difficulty is a measure of how difficult it is to mine a Bitcoin block below a certain hash. As mining activity increases, mining difficulty also increases due to the simple principle of demand and supply.

As of February 2022, the mining difficulty of Bitcoin stood at nearly ~27.96 trillion TH/s.

After China’s ban crypto mining ban, Bitcoin mining difficulty fell from nearly 25 trillion TH/s to 13.6 trillion TH/s. The trend was reflected in almost all mined cryptocurrencies.

After mining activity normalized, the mining difficulty for Bitcoin grew by nearly ~105% as of February 2022.

18. Around 0.1% of all miners control nearly 50% of all mining capacity in Bitcoin.

(NBER)

According to an NBER study, The top 10% of miners control 90%, and 0.1% (nearly 50 miners) control close to 50% of the mining capacity for Bitcoin.

Such concentration is countercyclical and varies with the Bitcoin price. There has been a tendency for mining-capacity concentration to decrease when the price of Bitcoin increases (since more people mine as the price rises), and to increase when the price drops. This makes the Bitcoin network vulnerable to 51% attacks.

A 51% attack is when a person or a group controls more than 50% of a blockchain’s hashing power. This allows the attacker to exploit, alter, and disrupt transactions or mining processes in the network.

19. Within 10 years, the reward for mining a bitcoin block has reduced from 50 BTC to 6.25 BTC

(CoinMama)

Bitcoin halving is a pre-written event in many blockchain networks where the reward for mining particular crypto is reduced to half of the previous one.

Before 2013, the reward for mining was 50 BTC which was halved to 25 BTC, then 12.5 BTC, and is now down to 6.25 BTC.

The ‘halving event’ takes place every 210,000 blocks that are mined for an estimated 4 years. The last halving event took place in May 2020.

20. New York has the most bitcoin miners in the U.S., followed by Kentucky, Georgia, and Texas.

(Foundry USA, CNBC)

Within the U.S., New York, Kentucky, Georgia, and Texas are the biggest hubs for bitcoin mining, says a company that runs the largest mining pool in North America and is the world’s fifth-largest pool overall.

Conclusion

Whew! That was a LOT of statistics, wasn’t it? We hope you learned something new, and now have a better understanding of how the crypto mining industry works.

As we’ve seen, the crypto mining industry is growing by leaps and bounds. The industry is so new and rapidly changing that it’s hard to say exactly what the future looks like, but there’s no doubt that the future of crypto mining is bright.

From the staggering profits to the growing number of active miners, it’s clear that cryptocurrency mining is an opportunity that many people are seizing.

As more people become interested in cryptocurrency and realize that it’s not just a flash in the pan, more companies are going to set up shop and start mining. We’re excited to see where this industry goes in the future, and what new developments will happen within it.

Well, we’re out of time here but we’d love to hear from you—did you know any of these statistics before reading this article? Did any of them surprise you? Let us know!

Thanks for reading!

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• CNBC

The age of self-service has officially arrived. More than ever, customers in today’s digital landscape prefer to manage their transactions independently, without the support of service reps. While the demand for self-service has been growing for several years, the pandemic has accelerated the need for self-checkout experiences to ensure social distancing.

According to a Grand View Research report, the market for self-checkout systems was valued at $2.8 billion in 2019. Between the years of 2020 and 2027, this marketplace is expected to rise in value at a CAGR of 13.3%, gradually making self-checkout more crucial to retailers worldwide.

Self Checkout Statistics

The following self-checkout statistics offer an insight into where the world of self-service is headed, particularly regarding checkout experiences.

1. 58% of customers have used self-checkout tools

(IBM)

A study conducted by IBM in collaboration with the National Retail Federation has shown “hybrid shopping” strategies, which mix digital and physical channels for consumerism, is on the rise. Shopping habits adapted during the pandemic, including self-checkout are now becoming routine.

According to the study, effective hybrid shopping experiences depends on easy access to and comfort with digital tools. When asked about the tools they have used and plan on continuing to use for shopping, self-checkout was the most popular service, cited by 58%. The self-checkout experience was followed by restaurant delivery (56%), and order online, pick up at store (50%).

2. Almost half of all users access self-checkout exclusively

(Raydiant)

In a Raydiant study on the state of self-checkout experiences, the researcher found almost half of the shopping population will use self-checkout almost exclusively when it’s available. When asked how often they would use a self-checkout kiosk, around 48.7% of respondents said, “basically all the time”.

The survey also revealed around 30.6% of respondents say they use self-service checkout kiosks some of the time and would usually change their checkout habits based on the nature of the items they were purchasing, and the length of the cashier line.

During the study, only 3% of respondents said they don’t use a self-checkout ever, and they don’t want to.

3. 80% of shoppers prefer a non-traditional checkout

(PYMNTS and Toshiba)

According to a self-service shopping journey survey by Toshiba and PYMNTS in 2021, around 80% of shoppers say they’re interested in a non-traditional checkout experience. Among those customers, 66% said self-checkout experiences were the ones they were most interested in.

The speed of self-service checkouts was one of the top reasons for choosing this transaction method, according to 67% of shoppers. Additionally, customers said the reason they were most likely to choose a self-checkout experience over a customer service representative was to avoid waiting in line.

The survey notes while self-service checkout experiences are becoming more common, it could be even more significant if more customers were given the option. 41% of customers who didn’t use non-traditional checkouts said they weren’t given the option.

4. 85% of customers think self-checkout is faster than waiting in line

(Raydiant)

A report on the state of self-checkout experiences conducted by Raydiant in 2021 found 85% of customers believe using self-checkout solutions is faster than waiting in line. The report also found a significant increase in the number of companies delivering self-checkout to customers.

Around 36% of companies saw a major increase in self-checkout usage during 2021, and 34% said they expect to see a significant increase in the years ahead. Interestingly, the report also revealed customers are looking for new ways to pay when using the self-checkout system. 65% would use self-checkout more option if mobile payments were an option.

5. 47% of customers think self-checkout improves the shopping experience

(PSFK)

Retail intelligence provider PSFK conducted research into the potential of improving CX experiences with frictionless retail automation in 2022. As part of the study, the team asked respondents if they consider in-store experiences today to be innovative and fresh. 71% of customers weren’t impressed with the innovations implemented by retailers today.

When asked about the technologies which might improve the retail experience, shoppers chose self-checkout as the most valuable tool (47%), followed by interactive kiosks (28%) and lockers (31%).

The survey also found 30% of survey respondents believe in-store technology helps them spend less time shopping, and 25% believe technology ensures they enjoy their shopping experience.

6. 90% of shoppers want self-checkout technology to be more intelligent

(Shekel Brainweigh Ltd)

According to Shekel Brainweigh Ltd, around two-thirds of consumers now frequently use self-checkout machines as part of the shopping experience. However, 75% say they have difficulties with the technology. Around 90% of consumers said they would like self-checkout machines to be more intelligent, capable of automatically identifying items.

The findings of the survey, conducted on SurveyMonkey, revealed around 80% of customers needed assistance at least once during the self-checkout experience. Additionally, 60% said they were more likely to use self-checkout technology improvements were made to the system.

7. 34.1% of customers expect to increase their use of self-checkout

(Raydiant)

The Raydiant study of self-checkout experiences in 2021 found a significant increase in the number of people using self-checkout solutions during the pandemic. However, the company notes the change in behavior isn’t simply a fad, with 34.1% of customers saying they expect a major increase in how often they use the technology in the next year.,

Around 18.7% of respondents said they expect a “minor” increase in their use of self-service checkouts. Many customers said they were concerned about the spread of germs in the retail environment, which would be why they would use self-checkout more often in the future.

8. The self-checkout industry will be worth $6.5 billion by 2027

(GM Insights)

In a report evaluating the growth of the self-checkout system market, GM Insights revealed the market exceeded the value of $3.5 billion by 2020, thanks to the impact of the pandemic. By 2027, the value is expected to almost double, to $6.5 billion.

GM Insights also found several complementary technologies and changes were helping to support the expansion of the market. For instance. 94% of all transactions in Poland were made using contactless cards in 2020. The expanding e-payments markets is also reducing the need for sales personnel at counters to allow for financial transactions.

9. 87% of shoppers preferred self-checkout during the pandemic

(Shekel)

According to advanced weighing technology innovator, Shekel, around two-thirds of all consumers changed their grocery shopping habits during 2020, thanks to the COVID-19 pandemic. Around 87% of all customers said they preferred to shop in stores using self-checkout and touchless options.

The survey also found more than 70% of shoppers in the US were using touchless, self-checkout options, or shopping at frictionless micro-markets for essentials. Around 75% of customers said they use self-checkout to pay for groceries regularly.

10. 67% of consumers have had a self-checkout system fail

(Raydiant)

A study into the “State of Self-Checkout Experiences” from Raydiant found demand for self-checkout solutions is definitely growing. Around 60% of the 1000 US respondents surveyed said they prefer self-checkouts over interacting with store associates when given an option. 48.7% of respondents said they use self-checkout kiosks all the time.

Unfortunately, poor self-checkout experiences are diminishing the experience for customers. Around 25.1% of customers said they avoid self-checkout kiosks if they know the technology can malfunction. In total, 67% of participants said they have had a self-checkout kiosk fail when they were using it.

11. 73% of respondents say they’re in favor of self-checkout options

(SOTI)

Interest in self-checkout solutions has been increasing for a number of years now. In 2019, SOTI found that around 73% of respondents were already in favor of self-checkout options before the pandemic began.

According to SOTI, the reason behind the rising demand for self-checkout experiences before the pandemic was the need for more convenience when shopping. Consumers felt they could have a more seamless experience with the checkout if they were able to avoid interacting with human assistants. Around 76% of respondents believed using mobile technology would accelerate the checkout experience.

12. 40% of shoppers still prefer interacting with humans

(PSFK)

In a study into vending automation strategies and retail technology, PSFK found consumers want more technology in the store environment to help with their checkout experience. However, the report also found that consumers still want the option to access human assistance when necessary.

When asked whether they prefer engaging with store technology or store assistants, 40% of US shoppers said they prefer to connect with other human beings. Only around 16% of consumers said they preferred technology to associates. 32% of respondents in the survey said they were happy to use either option.

13. 71% of customers would like an app to purchase products during self-checkout

(eMarketer)

Studies by eMarketer revealed consumers are becoming increasingly impatient with the checkout experience in store. Around 7 in 10 customers said they would like to use a scan-and-go app to purchase products, and 61% were interested in the rise of unmanned stores.

71% of customers said they would like to use an app to purchase products at self-checkout, to help reduce the amount of interactions they would have with in-store employees and technology. Notably, eMarketer also says around 83% of internet users say a good checkout experience is the most important part of a good shopping experience.

14. 30.9% of people are worried about the cleanliness of self-checkout stations

(Raydiant)

In a study on the ability of checkout technology to improve the customer experience, Raydiant found the most common reason to avoid self-checkout was unreliable technology. However, 30.9% of customers also said they were extremely worried about the cleanliness of touchscreens. Another 36.4% of respondents felt somewhat concerned about cleanliness.

Raydiant believes concerns about cleanliness will need to more contactless checkout options in future. Around 33.7% of respondents said they would definitely use self-checkout options more often if they could scan items with their phone.

15. Parents with children are the biggest customers for self service

(PYMNTS and Toshiba)

A report on the benefits of self-checkout experiences for modern customers found a large number of consumers see convenience in using self-service options in retail environments. Customers with children where the demographic most interested in using a non-traditional checkout method (20%), followed by Gen Z shoppers (15%).

When asked how the self-service checkout experience might be improved for the modern age, around 49% of customers said they would like the opportunity to check the price of an item before purchasing it. Around 39% of customers said they would like an app to help them find items in store, and another 39% said they wanted access to discounts and coupons when shopping.

16. Self-checkout machine shipments spiked 25% in 2020

(Wall Street Journal)

A report published by the Wall Street Journal during the 2020 pandemic found self-checkout machine shipments increased drastically (25%) during the pandemic. Global shipments of self-checkout solutions skyrocketed as retailers looked for more convenient ways to manage social distancing in stores. However, the report also found many retailers and consumers were experiencing issues with the technology.

67% of consumers and retailers said they were experiencing some failures with the technology during 2020. Despite this, the number of people willing to use self-checkout increased from 30% to 45% within the first 18 months of the pandemic.

17. 49.4% of customers are more likely to visit a store with self-checkout

(Raydiant)

The latest Raydiant study on the self-checkout market for 2021 found that around 59.8% of respondents would prefer to use a self-checkout service when completing a transaction in store, compared to 34.5% of respondents who would prefer a human assistant.

The study also revealed that 49.4% of respondents would be more likely to visit a store with a self-checkout option over one that did not offer this service. This indicates half of all customers would actively avoid visiting a store without access to self-checkout functionality.

18. The US represents the biggest market for self-checkout

(Business Wire)

According to Business Wire reports, the self-checkout systems market of the United States is currently estimated to be worth around $1.4 billion, as of 2021. The country accounts for a massive 41.38% market share within the self-checkout system global market.

The world’s second-largest economy, China, is expected to reach a market value of around $814.8 million in the self-checkout environment by the year 2026, Among the other noteworthy geographic markets for self-checkout include Canada, forecast to grow at 11.5% up to 2026, and Japan, forecast to grow at 9.3% CAGR in the same period.

Conclusion

So now that you’ve read these self checkout statistics, it’s time to wrap things up.

Self-checkout is a growing trend that has many benefits.

It allows customers to be more independent and take control of their own shopping experience. It also helps retailers reduce labor costs and improve customer satisfaction.

However, there are downsides to self-checkout as well. The most notable one being security issues due to fraudulent activities from both employees and customers alike.

Overall though, the pros outweigh the cons when it comes down to whether or not this technology is worth investing in for your business model

As we’ve seen, self-checkout has both pros and cons, but for the most part, it’s here to stay. It’s up to businesses to find the right balance between self-checkouts and cashiers so that they can continue to evolve, offer more convenience and efficiency to their customers, and meet or exceed their customers’ expectations.

Thanks for reading! We hope you’ve enjoyed this collection of self-checkout statistics, and that you’ve learned something new. If you enjoyed this blog post, don’t forget to share it with your friends on social media—they’ll love it, too.

And if you’ve got any questions or comments, we’d love to hear from you!

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Sources

• IBM
• Raydiant
• PYMNTS and Toshiba
• Raydiant
• PSFK
• Shekel Brainweigh Ltd
• Raydiant
• GM Insights
• Shekel
• Raydiant
• SOTI
• PSFK
• eMarketer
• Raydiant
• PYMNTS and Toshiba
• Wall Street Journal
• Raydiant
• Business Wire