Top 10 Internet of Things (IoT) companies in 2022

As the IoT market continues on its path of rapid growth as more devices come online, we take a look at the top 10 IoT companies in 2022

The global Internet of Things (IoT) market is expected to grow at a Compounded Annual Growth Rate (CAGR) of 10.53% between 2022 and 2027, driven by the increased adoption of IoT technologies from end-user industries such as manufacturing, automotive, and healthcare. This week, we take a look at the top 10 companies in the IoT industry. 

1. iTechArt

Founded: 2002

Employees: 1800+



iTechArt Group is a custom software development company founded in 2002 that offers secure IoT solutions to startups and tech companies. iTechArt builds IoT apps, gateways, data analytics, and third-party integrations and has more than 1,800 staff. 


2. Cisco

Founded: 1984

Employees: 10,000+

Revenue: US$49bn (approximately) 


Cisco provides a range of different products and services for the IoT industry. It also provides them for the security, data centre, and wireless networks sectors. The company is well-known for designing and selling products related to the IT industry. In the Internet of Things sector, it offers solutions for IoT Operations Management, IoT Data Management,  IoT Networking, IoT Gateways, and IoT Security.


3. Huawei

Founded: 1987

Employees: 10,000+

Revenue: US$107bn


Telecommunications company Huawei offers IoT solutions like Connected Car, Public Utilities, and Predictive Maintenance. It provides services like IoT Platform, Machine Learning Service, and Cloud Stream Service. 

The company is most well-known for its phones, tablets, and laptops. In terms of the IoT industry, it provides smart water solutions, AMI Smart Meter Reading, Shared Bike Lock, Smoke Detection Smart Building, Smart Factory, eLTE Gas Detection, Elevators, and Smart Parking. 


4. ARM IoT Security 

Founded: 1990

Employees: 5,000 - 10,000

Revenue: US$1.6bn

Founded in 1990, ARM provides the IoT industry with a Device-to-Data Platform for connectivity management, device management, and data management. It also provides device products like Mbed OS, SoC Solutions, and Kigen SIM Solutions.


5. Bosch IoT Suite 

Founded: 1906

Employees: 10,000+

Revenue: US$86.7bn


Bosch provides an IoT suite for connecting and managing devices, gateways, and sensors. It provides secure access management as well as an open IoT platform for all types of domains.


6. SAP

Founded: 1972

Employees: 10,000+

Revenue: US$26.6bn


SAP provides services to industries like Energy & Natural Resources, Finance, Consumer Industries, Discrete Industries, and Public services. SAP has SAP Leonardo IoT, SAP Edge Services, and SAP Cloud Platform.


7. Siemens IoT Analytics 

Founded: 1847

Employees: 10,000+

Revenue: US$93.2bn


Known for providing products, solutions, and services for building and operating microgrids, German automation company Siemens offers an intelligent gateway for IoT solutions. 

Through its IoT operating system Mindsphere, the company provides MindConnect Nano, MindConnect Edge Analytics Engineer, MindConnect IoT Extension Upgrade, and MindConnect Integration for Cloud.


8. IBM 

Founded: 1911

Employees: 10,000+

Revenue: US$79bn


IBM provides the IoT solutions of IoT Platform, Watson IoT, Enterprise Asset Management, Facilities Management, and Systems Engineering. It provides services to Finance, Banking, Retail, Government, Telecom, Media, Entertainment, etc. IBM is well-known provider of computer hardware, middleware, and software.


9. Vates 

Founded: 1991

Employees: 550


Vates’ IoT Engineers and Systems Integrators employ high-end prototyping services to ensure its customer’s product is market-ready.

For IoT projects, the company offers assistance for critical decisions that occur during design and development. Indeed, Defining compatible hardware and prototyping is essential to prevent costly mistakes.


10. ITRex Group

Founded: 2009

Employees: 250+

Revenue: US$10mn

Located in Minsk Belarus, ITRex Group is an IoT development company that creates and deploys feature-rich and secure custom Internet of Things solutions. The company’s expertise spans cyber-physical systems that capture sensor data, run it through AI algorithms, and present intelligent insights to end-users.



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