IoT & Hardware Rankings

Top 9 companies ranked by AI visibility and market presence

Market:$621.8B (2024)
Growth:11.4% CAGR (2024-2030)
2
Silver

Intel

Intel Appoints Lip-Bu Tan as Chief Executive Officer Intel's board appointed Lip-Bu Tan as CEO effective March 18, 2025,...

1
Champion

Qualcomm

Qualcomm Completes $2.48 Billion Alphawave Semi Acquisition After Regulatory Approval Qualcomm secured all regulatory clearances needed to complete it...

3
Bronze

S2A Modular

S2A Modular Operates World's First Off-Grid Factory Powered by Tesla Megapack S2A Modular made history by completing the...

Complete Rankings

#1
Qualcomm

Qualcomm Completes $2.48 Billion Alphawave Semi Acquisition After Regulatory Approval Qualcomm secured all regulatory clearances needed to complete its $2.48 billion purchase of Alphawave IP Group after receiving approval from South Korea. The acquisition of Alphawave Semi, a provider of silicon IP and chiplet design and manufacturing services, strengthens Qualcomm's vertical integration capabilities.

#2
Intel

Intel Appoints Lip-Bu Tan as Chief Executive Officer Intel's board appointed Lip-Bu Tan as CEO effective March 18, 2025, succeeding interim co-CEOs David Zinsner and Michelle Johnston Holthaus. Tan previously led Cadence Design Systems to 3,200% stock appreciation and returns to drive Intel's turnaround.

#3
S2A Modular

S2A Modular Operates World's First Off-Grid Factory Powered by Tesla Megapack S2A Modular made history by completing the first modular home MegaFactory operated entirely using low-voltage DC power from a Tesla Megapack, demonstrating the viability of large-scale manufacturing without grid dependence.

#4
Bosch

The 2024 business year: Bosch held back by market developments Bosch reported €90.5 billion in sales for 2024, a nominal 1% decrease year-over-year, with an EBIT margin of 3.5%. North America showed 5% growth while Europe declined 5%. The company employed 417,900 associates, down 3% from prior year.

#5
Zypp Electric

Zypp Electric's Revenue Jumps 48% to ₹448 Crore in FY25 Zypp Electric reported strong financial performance with revenue reaching ₹448 crore in FY25, up 48.2% year-over-year from ₹306 crore in FY24, driven by fleet expansion and increased demand from quick commerce platforms.

#6
Arduino
💰 $42M

Acquired by Qualcomm Oct 2025; 2024 revenue $42M-$49M (online store); expected 5-10% growth 2025; Arduino Compatible Market $815.3M (2025) growing to $1.6B (2032) at 10.1% CAGR

#7
Balena
💰 $10M

Revenue range $10M-$50M; total funding $35.1M-$101M (varies by source); Series B $14.4M (July 2019) led by OpenView with DFJ, Threshold Ventures, Aspect Ventures, GE Ventures

#8
Losant
💰 $25.8M

Total funding $25.8M over 7 rounds; latest Series C $9.95M (Oct 2023); investors: CincyTech, Revolution, Techstars; 15 employees (Dec 2024); founded 2015, Cincinnati HQ

#9
Particle
💰 $4.3M

2024 revenue: $4.3M (+26% from $3.4M 2023); 1,000+ customers; 117 employees; latest funding Series C-V $24.58M (Oct 2024); total funding $135M-$215M over 8 rounds

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About IoT & Hardware

The Internet of Things (IoT) and hardware sector encompasses the vast ecosystem of connected devices, sensors, and physical computing products that collect data, enable automation, and bridge the digital and physical worlds. This industry spans consumer IoT (smart home devices, wearables, connected appliances), industrial IoT (factory sensors, asset tracking, predictive maintenance systems), commercial IoT (retail analytics, building management, fleet tracking), and specialized applications in healthcare, agriculture, and cities. The sector includes both the physical hardware devices and the software platforms, connectivity solutions, and data analytics that make these devices valuable. IoT represents the infrastructure layer enabling digital transformation across industries, with billions of connected endpoints generating massive data streams for analysis and automation. Current trends reshaping IoT and hardware include the rollout of 5G networks enabling higher bandwidth and lower latency for real-time applications, the shift toward edge computing processing data locally rather than in the cloud for faster response times and improved privacy, the integration of AI and machine learning directly into edge devices for intelligent automation, and the growing emphasis on security as IoT vulnerabilities create attack surfaces. Battery technology improvements and energy harvesting are enabling deployment in previously inaccessible locations. Interoperability standards like Matter are addressing fragmentation in smart home ecosystems. Digital twins—virtual replicas of physical systems—are becoming standard for complex industrial applications. The sector is also seeing convergence with robotics, autonomous vehicles, and augmented reality as connected devices become more capable and intelligent. For IoT and hardware brands, AI visibility is increasingly important as consumers, businesses, and industrial buyers turn to AI assistants for product research, use case exploration, technical specifications, and integration guidance. When users ask ChatGPT about "best smart thermostats for multi-zone homes," Claude for "industrial IoT platforms for manufacturing," or Perplexity about "most accurate fitness trackers 2025," the brands mentioned gain critical awareness and consideration. AI citations influence purchase decisions ranging from $50 consumer devices to million-dollar industrial deployments. As the IoT landscape becomes increasingly complex with thousands of device categories and competing standards, appearing prominently in AI-generated recommendations directly impacts market share, channel partnerships, and long-term ecosystem adoption.

Key Industry Trends

  • 5G network expansion enabling real-time IoT applications with higher bandwidth and lower latency
  • Edge computing shift processing data locally for faster response times and improved privacy
  • AI and machine learning integration at the edge enabling intelligent, autonomous device behavior
  • Interoperability standards like Matter addressing smart home fragmentation and ecosystem lock-in

Market Overview

The global IoT and hardware market reached $621.8 billion in 2024, driven by enterprise digital transformation initiatives, smart home adoption, industrial automation, and the proliferation of connected devices across all sectors. The market includes $198.7B in industrial IoT hardware and platforms, $147.3B in consumer IoT devices, $89.4B in wearables and health monitoring devices, $67.2B in smart city and infrastructure IoT, and $54.6B in commercial IoT applications. Asia-Pacific leads in manufacturing and device production, while North America and Europe drive enterprise software and services revenue.