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Emerging Tech Research: Internet of Things

H2 2020

Emerging Tech Research: Internet of Things

March 16, 2021

Emerging Tech Research: Internet of Things
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The IoT industry is rebounding from challenges induced by the COVID-19 pandemic. Recent public listings of C3.ai and Palantir demonstrated that IoT is benefiting from enhanced data science capabilities, improving the business case for widespread IoT deployments. Some segments of IoT are poised for significant demand snapbacks in 2021, encouraging VC investment and M&A.

Our Q4 installment of Emerging Tech Research on IoT includes updated market size estimates and value chain analysis for each use case across IoT. The report also tracks major industry trends, covering developments in private 5G networks, embedded machine learning, and more. Key takeaways include:

  • IoT VC activity in 2020 was led by IoT-compatible chipsets, manufacturing & supply chain, connected vehicles, smart home, and IoT security, driving the year’s total VC deal value of $11.1 billion.
  • The IoT industry set VC exit records in 2020, achieving $14.0 billion in total value across 61 exits. C3.ai set a record for US-based IoT software exits with its $3.4 billion valuation upon IPO in Q4. IoT VC exit value had not eclipsed $4.4 billion in any year prior.
  • VC funding in 2020 was highest in the categories estimated to achieve revenue growth of over 20% in 2021: manufacturing & supply chain and connected vehicles.