Top IoT Startups to Watch in 2024
The Internet of Things (IoT) industry is rapidly evolving, with exciting new startups emerging each year. As we look ahead to 2024, here are some of the top IoT startups that I believe are worth watching:
Samsara
Samsara is an industrial IoT startup that provides sensors, software, and analytics tools to help companies connect and monitor their operations. Their platform allows businesses to collect real-time data from their equipment, vehicles, and facilities to improve efficiency, safety, and sustainability.
In 2024, I expect Samsara to continue expanding their services across transportation, logistics, food production, and manufacturing industries. Their end-to-end solutions and easy-to-use tools make them a leading choice for companies embarking on digital transformation.
Helium
Helium is building a decentralized blockchain-powered network for IoT devices to connect and communicate. Their model incentivizes individuals to set up Hotspots that earn cryptocurrency for relaying sensor data over Helium’s network.
By 2024, Helium aims to have over 5 million Hotspots providing coverage to hundreds of millions of IoT devices. As their network expands globally, Helium could become the standardized connectivity layer for the IoT industry.
Sight Machine
Sight Machine applies AI and machine learning to manufacturing operations. Their platform ingests sensor data from equipment to provide insights that optimize processes and reduce downtime.
As AI adoption grows in manufacturing, Sight Machine is poised to be a leader in intelligent IoT solutions for factories. In 2024 and beyond, they could expand their AI capabilities to enable true predictive maintenance and automated operations for manufacturers.
Vitruvian
Vitruvian develops advanced IoT sensors and asset tracking technology leveraging ultra-wideband (UWB) radio. Their precise location services platform provides real-time visibility and analytics for managing people, assets, and workflows.
In the coming years, Vitruvian could emerge as a key player in UWB and industrial IoT. Their technology enables promising applications in logistics, manufacturing, healthcare, and other industries that require accurate location tracking.
Sceye
Sceye provides high-altitude platform solutions using stratospheric balloons equipped with solar-powered autonomous drones. Their systems can remain aloft for months, providing persistent wide-area monitoring and communication coverage at a fraction of the cost of satellites.
By 2024, I expect Sceye to expand deployments of their HAPS systems for applications ranging from agricultural monitoring to emergency response networks. As IoT use cases require connectivity in remote areas, Sceye offers a unique airborne platform solution.
The IoT industry still has enormous room for innovation. These startups are leading the way with cutting-edge technologies, intelligent analytics, and new business models. With their rapid growth and promising solutions, they are poised to shape the IoT landscape in 2024 and beyond.
