IoT Technology Companies

The IoT technology market is projected to reach USD 1,148.62 billion by 2030 from USD 959.30 billion in 2025, at a CAGR of 3.7% during the forecast period.

The rapid adoption of smart devices such as smartphones, wearables, and connected home appliances is a key driver of IoT growth, as these devices serve as primary interfaces for connected ecosystems. Increasing smartphone penetration and the popularity of wearables enable real-time data generation and seamless control of IoT applications. Widespread availability of 4G/5G networks and affordable broadband further enhances connectivity, making IoT solutions more accessible and scalable across consumer and enterprise markets.

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Major IoT Technology Companies Include:

• Intel Corporation (US),
• Qualcomm (US)
• Texas Instruments Incorporated (US)
• Cisco Systems, Inc. (US)
• Hewlett Packard Enterprise (US)
• IBM (US)
• STMicroelectronics (Switzerland)
• Microsoft, PTC Inc. (US)
• Amazon Web Services (US)

Key players operating in the IoT technology market include Intel Corporation (US), Qualcomm (US), Texas Instruments Incorporated (US), Cisco Systems, Inc. (US), Hewlett Packard Enterprise (US), IBM (US), STMicroelectronics (Switzerland), Microsoft, PTC Inc. (US), and Amazon Web Services (US), among others. Key strategies adopted by the players in the IoT technology market ecosystem to enhance their product portfolios, increase their market share, and expand their presence in the market mainly include new product launches, partnerships, and acquisitions.

In February 2024, Intel launched a new Edge Platform, a modular, open software solution for enterprises to efficiently develop, deploy, manage, and secure edge and AI applications at scale. This platform enables cloud-like simplicity for edge deployments, bringing improved cost savings and streamlined operations for IoT environments.

In June 2023, Qualcomm Technologies, Inc. announced two modem chipsets with satellite capability: the Qualcomm 212S Modem and the Qualcomm 9205S Modem. The new Qualcomm modem chipsets power off-grid industrial use cases that require standalone non-terrestrial network (NTN) connectivity or hybrid connectivity alongside terrestrial networks and allow IoT enterprises, developers, ODMs, and OEMs to harness real-time information and insights to manage business projects.

INTEL (US)

Intel is one of the leading players engaged in designing and manufacturing advanced integrated digital technology platforms. Besides hardware, the company develops and sells software and offers services primarily in security and technology integration. The company has a widespread presence in ~63 countries and consumers in ~120 countries. It offers a range of solutions for various end-user industries. Its IoT strategy revolves around enabling end-to-end solutions by combining its strength in processors, AI accelerators, and edge computing platforms. Its core competency lies in high-performance computing, data processing, and edge AI integration, which support applications across industrial automation, smart cities, and healthcare. Intel has been active in acquisitions such as Movidius (computer vision) and Altera (FPGA technologies) to strengthen its AI-at-the-edge capabilities, along with collaborations in autonomous driving and Industry 4.0 solutions. The company follows a horizontal integration strategy, providing hardware and platform solutions that can be adopted across multiple IoT verticals rather than focusing on a single industry domain.

Qualcomm Technologies, Inc. (US)

Qualcomm Technologies, Inc. is a major participant in the worldwide semiconductor market and is in charge of creating and promoting services and goods for wireless telecommunication. Qualcomm CDMA Technologies (QCT), Qualcomm Technology Licensing (QTL), and Qualcomm Strategic Initiatives (QSI) are the three reportable business segments of the company. Its IoT strategy focuses on delivering connectivity-driven platforms, leveraging its leadership in wireless communication technologies such as 4G/5G, Bluetooth, and Wi-Fi. Its core competencies include chipsets, modems, and low-power processing designed for IoT devices ranging from wearables and smart home appliances to industrial robotics. Qualcomm has pursued partnerships and joint ventures with ecosystem players such as Siemens (industrial IoT) and Microsoft (Azure integration), as well as acquisitions in wireless and AI domains, to strengthen its IoT footprint. Unlike Intel, Qualcomm leans more toward vertical integration in connectivity and device-level solutions, ensuring dominance in consumer IoT, automotive IoT, and smart edge devices.

Market Ranking

The top players in the market include Intel Corporation (US), Qualcomm Technologies, Inc. (US), Texas Instruments Incorporated (US), STMicroelectronics (Switzerland), and IBM (US). Together, these companies account for an estimated 2% to 3% share of the overall market. The market remains highly fragmented, with several other players contributing to its growth and competitiveness. Intel Corporation (US) is actively contributing to the IoT technology market with its processors, edge computing platforms, and AI integration, catering to applications in industrial IoT, smart cities, and healthcare. Qualcomm Technologies, Inc. (US) strengthens the market with its wireless communication chips and 5G-enabled platforms, powering IoT use cases in automotive, smart homes, and wearables through efficient, low-power connectivity solutions. Texas Instruments Incorporated (US) plays a vital role by supplying analog and embedded processing semiconductors, sensors, and microcontrollers that support industrial automation, energy management, and consumer electronics. Similarly, STMicroelectronics (Switzerland) offers a broad range of microcontrollers, MEMS sensors, and secure connectivity solutions, enabling IoT deployment across smart homes, healthcare, and industrial systems. IBM (US) contributes through its AI-powered platforms and cloud-based Watson IoT services, helping enterprises leverage IoT data for predictive maintenance, smart infrastructure, and digital transformation initiatives.

Related Reports:

IoT Technology Market by Node Component (Sensor, Memory Device, Connectivity IC, Processor, Logic Devices), Software Solution (Remote Monitoring, Data Management), Platform, Service, End-use Application, Geography - Global Forecast to 2030

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