IoT Spending Is Making a Comeback, Which Is Good News For Startups
If projections for enterprise IoT spending hold any truth for 2021, it’s been a good year for IoT vendors, and it also likely benefited the variety of startups that are creating new solutions around capturing, analyzing and protecting data that is captured by sensors.
Enterprise IoT spending grew only 12.1 percent in 2020 to $128.9 billion, according to IoT Analytics, but the research firm projected that spending growth would double to 24 percent this year and then continue to grow 26.7 percent annually for the next for years. This means increasingly larger opportunities for IoT startups that are working on new offerings for IoT security, IoT sensors and IoT device management, among other critical areas for the sector.
What follows are the 10 hottest IoT startups of 2021. They include companies that are led by former Microsoft and Intel executives as well as entrepreneurs that come from places as diverse as Foodpanda in Singapore and EA-owned video game developer DICE. And their offerings are addressing a variety of industries, from construction and smart buildings to rail freight and process manufacturing.