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Though the true dimensions of species diversity remain uncertain, estimates range from 2.6–7.8 million species with a mean of 5.5 million. This probably represents less than 20% of all species on Earth[citation needed], and with only about 20,000 new species of all organisms being described each year, most species likely will remain undescribed for many years unless species descriptions increase in rate. About 850,000–1,000,000 of all described species are insects. Of the 24 orders of insects, four dominate in terms of numbers of described species, with at least 3 million species included in Coleoptera, Diptera, Hymenoptera and Lepidoptera. A recent study estimated the number of beetles at 0.9–2.1 million with a mean of 1.5 million.

How many insect species are estimated to exist?
2.6–7.8 million species