Growth Continues For IoT Market, Creating New Openings For Startups
The demand for IoT technology is expected to grow again after the pandemic caused many organizations to slow down initiatives, underlining the continued opportunities faced by startups that are looking to bring new solutions to the market.
A few months into the pandemic last year, research firm IDC said worldwide IoT spending was expected to slow to 8.2 percent in 2020 and then speed up and reach a compound annual growth rate of 11.3 percent for the next four years. One major IoT silicon provider, Intel, proved these dynamics are now playing out, having reported a return to growth in the first quarter for its IoT business unit after experiencing a revenue decline in the previous quarters.
The 10 Hottest AI Startups Of 2021 (So Far)
“The bottom line is, [operational technology] transformation or IoT projects slowed in 2020 amidst the pandemic and the uncertainty of it,” Intel IoT sales executive Brad Haczynski told CRN in an interview earlier this year. “But what didn’t slow down is what everyone’s talking about now, which is the underlying pace of innovation that really accelerated, and we’re already seeing this massive demand increase for edge technology.”
What follows are the 10 hottest IoT startups of 2021 so far that are meeting the new and evolving needs of digital transformation projects with new IoT analytics solutions, IoT platforms and other kinds of technologies that will fuel continued growth in the IoT market.
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