The Internet of Things (IoT) is transforming businesses and our everyday lives through a massive influx of connected devices, from smart watches to autonomous vehicles. As more assets become embedded with sensors and internet connectivity, companies are faced with new opportunities to enhance efficiency, gain insights, and develop innovative offerings powered by data.
Global spend on IoT is forecasted to surpass $1 trillion by 2023 as businesses across industries continue to integrate smart devices and derive value from the data they generate. Several tech giants and conglomerates are leading IoT growth through long-term investments in connectivity infrastructure, analytics platforms, and strategic partnerships.
In this article, we explore the 10 largest IoT companies shaping the connected future.
What is the Internet of Things?
The Internet of Things (IoT) refers to the billions of physical devices, vehicles, appliances, and other items that are embedded with sensors, connectivity, and data exchange capabilities. This allows them to be remotely monitored, accessed, and controlled across an internet network.
Backed by cheap, powerful hardware and ubiquitous wireless internet availability, everyday objects can now generate useful data to improve efficiency and enable advanced features. IoT involves extending internet connectivity beyond conventional devices like computers and smartphones to more ordinary things like factory equipment, thermostats, and even livestock.
IoT devices use built-in sensors to gather data on temperature, motion, location, and other metrics. They then use connectivity technologies like WiFi, Bluetooth, cellular, or satellite to transmit this data over the internet. The data can then be analyzed in the cloud or on local networks to enable autonomous control, status monitoring, predictive analytics, and other functionality.
The growth of IoT is being driven by declining hardware costs, advances in data analytics, and an expanding ecosystem of interconnected cloud platforms and services. IDC predicts there will be over 55 billion IoT devices by 2025, reaching over 75 billion by 2030. IoT presents a $1.6 trillion global market opportunity as huge numbers of typically analog machines and objects gain digital sensing capabilities and join the connected ecosystem.
10 Leading IoT Companies Driving Connected Innovation
Several big tech companies and industrial conglomerates are investing heavily in IoT platforms, connectivity tools, and partnerships to enable smart, data-driven technologies across industries. Here are the 10 largest IoT companies to watch based on annual revenue:
- Apple
- Alphabet (Google)
- Samsung
- Microsoft
- Huawei
- IBM
- Intel
- Cisco
- Oracle
- SAP
These IoT leaders driving major growth come from diverse backgrounds including consumer tech, enterprise software, networking infrastructure, and hardware chips. Let‘s analyze the offerings and initiatives propelling their IoT leadership.
1. Apple ($394.3B Revenue)
Though not typically viewed strictly as an “enterprise IoT company,” Apple‘s massive ecosystem of consumer devices represents one of the most successful IoT platforms ever built. Apple continues to rapidly expand its install base of over 1.8 billion iOS and macOS devices globally, all powered by proprietary smart sensors and silicon.
The key to Apple’s approach is complete vertical integration between its hardware, OS, and developer tools. For example, the iPhone seamlessly leverages data from the accelerometer, gyroscope, proximity sensor, ambient light sensor, barometer, moisture sensors, and other components to enable intelligent applications.
The Apple Watch takes IoT a step further as one of the most sophisticated wrist-based health tracking computers, capable of capturing diverse biometrics like heart rate, ECG, blood oxygen, sleep patterns, and more. These insights provide users with actionable ways to improve health and fitness.
HomeKit provides a universal framework to connect and control thousands of IoT accessories like smart locks, lights, thermostats, cameras, and appliances from a single native iOS/macOS dashboard. CarPlay similarly converges the in-vehicle experience for automotive manufacturers.
With privacy and security built into the foundation across its ecosystem, Apple is setting the standard for how to build trust while enabling connected technologies to fade into the background of consumers’ everyday lives.
2. Alphabet (Google) ($282B Revenue)
As a leader in organizing the world’s information, Google helps connect IoT by providing the tools to easily store, analyze, and extract value from data. Its Google Cloud IoT platform allows businesses to securely register, manage, and ingest data from millions of globally dispersed devices.
Google Cloud’s analytics services like BigQuery provide scalable, serverless data warehousing to run insights across petabytes of IoT data. Machine learning APIs can help companies build predictive functionality and automate processes. They offer purpose-built solutions tailored for telecom, manufacturing, robotics, healthcare, and other verticals.
Consumer IoT is a focus as well. Nest thermostats and home security cameras were some of the first mainstream connected appliances, analyzing behavior to automatically improve comfort and safety. Google‘s biggest impact likely lies in empowering other companies to accelerate IoT innovation through its infrastructure, OSes like Android, and developer services.
3. Samsung ($223B Revenue)
As the #1 smartphone vendor by volume and a global leader across consumer electronics, displays, memory chips, and home appliances, Samsung is embedding connectivity and intelligence across nearly all of its products. Samsung employs over 320,000 people (98,000 in R&D alone) focused on accelerating IoT advancements.
Samsung SmartThings provides one of the most robust IoT ecosystems that includes an open standards SmartThings Hub to connect hundreds of third-party devices, sensors, automation triggers, and partners. Users can remotely monitor and control this diverse hardware from Samsung phones, watches, TVs, and other touchpoints.
Samsung Knox security infrastructure enables enterprises to protect data and access controls across employees’ devices. Samsung‘s foundry business manufactures IoT system chips empowering technologies like autonomous driving and blockchain. Overall, Samsung delivers on IoT through consumer-centric design thinking and open partnerships.
4. Microsoft ($198B Revenue)
As a trusted enterprise software provider for over 40 years, Microsoft is uniquely positioned to help companies navigate IoT adoption. Hundreds of thousands of organizations use Microsoft Azure to securely build, deploy, and manage billions of connected devices and sensors globally.
Azure Sphere applies decades of cybersecurity expertise to create an end-to-end platform specially designed to protect vulnerable IoT hardware. Azure IoT Central provides customizable, cloud-based analytics to derive insights from device data in minutes with no coding required.
Power Platform improves integration and automation across IoT apps and business systems. Microsoft partnered with companies like Starbucks on predictive service models leveraging Azure. Complimentary solutions for smart spaces, supply chain, and industrial IoT showcase Microsoft’s capable, vertically-aligned IoT offerings.
5. Huawei ($136B Revenue)
China-based Huawei may not have the global brand recognition of Apple or Google, but the company is fast becoming a juggernaut powering international IoT innovation with strengths across telecom infrastructure, cloud computing, AI, and silicon.
Huawei offers an end-to-end systems approach covering IoT devices, connectivity, platform, security, data analytics, and application development. It serves over 500 million connections globally as one of the world‘s largest telecom equipment makers powering LTE networks. Huawei provides carrier-grade cloud infrastructure enabling real-time data processing.
The OceanConnect platform helps partners across automotive, manufacturing, energy, and city planning rapidly deploy IoT solutions. Huawei aims to become the definitive ‘pipe’ funneling sensor data worldwide into actionable intelligence. Expanding trade sanctions present challenges that threaten to slow Huawei’s IoT ambitions outside China.
6. IBM ($59B Revenue)
IBM is a globally trusted technology partner for enterprises exploring IoT, with decades of experience running mission-critical systems, networks, and semiconductor R&D. Its offerings enable customers to manage end-to-end IoT lifecycles from devices to data centers.
The Watson IoT Platform leverages AI to help draw connections between IoT data and business operations. IBM engineers build tailored IoT solutions upon open architectures, drawing from proven tech across cloud, analytics, storage, and enterprise IT security.
World Wire speeds global payments settlement using IoT and blockchain. IBM Research created a Microsensor System that can non-invasively diagnose diseases. Supply chain is a focus through initiatives such as Food Trust. Ultimately IBM buys or builds the full-stack tech needed to serve massive IoT deployments.
7. Intel ($79B Revenue)
Intel powers many of the chips inside computers, servers, and smart devices that capture, connect, and process data from IoT sensors. Intel manufactures bleeding edge silicon optimized for the extreme demands of technologies like autonomous driving and industrial robotics.
Intel IoT R&D spends over $13 million per day exploring breakthroughs in telecom infrastructure, cloud computing, and AI. Mobileye collision avoidance warns drivers of imminent threats while also crowdsourcing hazard data to cities.
Factories employ Intel-based systems for computer vision quality assurance. Oak Ridge National Lab leverages Intel to analyze scientific data faster. Intel technology forms the foundation enabling much of the world’s IoT revolution.
8. Cisco ($51B Revenue)
Networking gear titan Cisco enables the essential plumbing underlying IoT projects. Cisco powers 83% of the world’s internet traffic across over 30 billion connected devices globally. Its hardware and software establish secure connectivity within and between massive organizations.
Cisco IoT Control Center lets businesses manage IoT devices across siloed departments and partners at scale. Edge Intelligence ships data analysis to routers installed locally across retail stores, factories, and cities.
Cisco Kinetic automates sensor-based insights for energy grids, water systems, and transportation fleets. The company partners with IoT application providers via DevNet. As the physical nervous system carrying terabytes of data worldwide, Cisco lays the connectivity groundwork to actualize IoT potential.
9. Oracle ($40B Revenue)
Oracle’s core database technologies help businesses organize and query massive sets of IoT data for hidden insights. The Oracle IoT Cloud Service allows viewing, exploring, and acting upon time-series IoT data from enterprise assets across various industries.
OCI GoldenGate enables real-time data streaming from IoT devices. Digital twins help model factories or entire cities. Their ‘red stack’ offerings bridge IT and operational systems to automate workflows triggered by sensor data insights across supply chain, manufacturing, and asset monitoring use cases.
As a leading enterprise software maker for 40+ years, Oracle enables robust, scalable information architectures required to harness insights from data-intensive IoT deployments.
10. SAP ($30B Revenue)
Longtime ERP giant SAP helps industrial and public sector organizations recalibrate operations based on live data from IoT sensors. The SAP HANA database facilitates complex querying across vast sensor data sets numbering in the billions.
SAP Asset Intelligence Network leverages IoT monitoring to maximize return from capital assets and prevents unplanned downtime. Dynamic Edge Processing ships processing loads to edge devices putting IoT insights to work locally versus relying solely on cloud transfers.
The SAP Build business brings partners onboard to create applications leveraging sensor data integrated into SAP enterprise platforms. With over 400,000 customers, SAP unlocks operational efficiencies as organizations tie enterprise decisions to real-time field-based IoT inputs.
The Future of IoT
As these examples illustrate, massive IoT growth lies ahead. With more exponential gains in price-performance expected across sensors, processors, and bandwidth, virtually any asset could become “smart” in the future as companies seek to maximize productivity and uncover new revenue.
IDC forecasts over 55 billion IoT devices to be deployed globally by 2025. IoT platforms seeing particularly bullish growth outlooks include manufacturing, automotive, and public health. China, North America, and Western Europe form massive IoT markets given strong infrastructure and government initiatives around tech-driven transformation.
However, despite rapid innovation, IoT faces several challenges inhibiting mainstream business adoption. Many companies still struggle figuring out where to get started with so many disparate options and approaches. IoT skill set shortages lead projects to stall before completion. Difficulty integrating new data sources with legacy enterprise IT systems leads to underutilized investments.
Most concerning are lax security standards leaving connected systems vulnerable to crippling cyberattacks affecting critical infrastructure like energy grids. Counterfeit hardware exacerbates weaknesses. Privacy issues around pervasive sensor data collection call for thoughtful safeguards as well.
The private sector and policymakers alike will need to take proactive steps to validate hardware, enhance transparency, strengthen authentication protections, instill accountability, and educate users as IoT moves from early adopters towards broad societal integration.
Key Takeaways
In closing, the growth of IoT marks one of the most transformative technology shifts underway globally. IoT promises to fundamentally upgrade industrial processes, supply chains, healthcare systems, cities, and consumer lifestyles by embedding connectivity and intelligence across more assets.
We examined how many of the world’s largest technology companies and industrial conglomerates like Apple, Google, Microsoft, Samsung, Huawei, IBM, Intel, Cisco, Oracle, and SAP provide specialized platforms, cloud tools, analytics capabilities, proprietary hardware and connectivity essential to IoT innovation.
Billions of dollars continue pouring into R&D as IoT enables new disruptive business models and smarter human experiences leveraging data. However, better solutions for managing complex deployments remain needed along with stronger security to address vulnerabilities.
By transforming physical objects into rich data streams full of insights, IoT unlocks incredible opportunities while also requiring prudent management. The technology and business leaders profiled represent the vanguard pushing connected ecosystems into the mainstream that may one day touch all aspects of society. Those building partnerships with these IoT trailblazers or replicating focused aspects of their stacks likely hold the keys to maximizing IoT value over the coming decade as the world gets smarter.
