Forbes magazine not only publishes lists of billionaires, which has become a proverb, but also pays attention to science and progress. In this case, its latest publication includes the top 20 startups engaged in the Internet of Things.

According to the publication, in just one year, the number of IoT startups and related companies on Crunchbase (a platform for finding business information about private and public companies) has grown 27%, rising from 26,792 in 2019 to 34,120 today.

Funding for IoT startups increased by 15% over the year from Q1 2020 to Q1 2021 - $4.7 billion in the most recent calendar quarter, according to Venture Scanner.

Consumer connected cars and printing are two uses of the Internet of Things that will reach $72 billion and $38 billion in 2021, respectively, according to the latest Gartner forecast.

The global commercial market for the Internet of Things is projected to grow from $385 billion in 2019 to $687 billion in 2025, reaching a CAGR of 10.1%, according to the latest Technology Business Research forecast.

IoT startups see opportunities for themselves in the inefficient, labor-intensive approaches that complex industries rely on to get their work done. Crunchbase alone has more than 34,000 IoT startups competing between the enterprise and automotive IoT, commercial, manufacturing, retail and wholesale trade and transportation industries.

The brutal economic reset because of the virus hit the industries that IoT startups rely on, especially hard. Automotive, retail and wholesale trade, and transportation have been hit the hardest. According to Gartner's latest estimates, IoT revenue projections for the transportation industry fell from $43 billion in value to $34 billion this year. Corporate and automotive IoT fell from $393 billion to $351 billion in market value in the first few months of 2020. Healthcare IoT revenue projections are among the most optimistic, projected to increase from $25 billion to $29 billion this year.

Based on a methodology that equally weighs a startup's ability to attract new customers, current and projected revenue growth, ability to adapt their solutions to growing industries and position in their chosen markets, below are the top 20 startups of 2021:

1. Armis Security - The mission is to enable enterprises to implement new connected devices without fear of cyber attacks. Unique and noteworthy is the speed with which they turn concepts into products and the successful track record of innovation of their platform. It is an enterprise-grade security platform that detects devices on and off the network, continuously analyzes endpoint behavior to identify risks and attacks, and protects critical information and systems by identifying suspicious or malicious devices and quarantining them.
2. Bastille - Founded in 2014, the company works in the field of enterprise threat detection with software-defined radio. The company provides complete visibility into known and unknown mobile, wireless and IoT devices within the enterprise. The company currently holds 17 U.S. patents, not including pending patents.
3. Blues Wireless - aims to get people and companies to better unlock the potential of the cellular Internet of Things. Its product, Notecard, currently in beta testing, is a simple, cost-effective embedded mobile IoT solution for cloud monitoring and connected operations. 
4. Cartesiam - founded in 2016, is a software publisher whose mission is to develop artificial intelligence solutions on ubiquitous, low-cost, low-power microcontrollers. NanoEdge AI's patented artificial intelligence development platform provides cognitive functions (machine learning) on microcontrollers embedded in connected objects. 
5. CENTRI - have created and continue to refine their only software platform that allows manufacturers and developers of IoT to go to market quickly with purpose-built Internet of Things security to protect their data in the cloud. CENTRI eliminates the risk of data theft and ensures device integrity by integrating a wide range of standards-based technologies to accelerate time to market.
6. Eta Compute - helping companies develop products with significantly longer battery life or powered by energy harvesting. EtaCore™, the world's most powerful IP microcontroller, provides 10x more energy efficiency than any alternative.
7. Finite State - The company's technology helps companies identify their vulnerabilities, quantify risks and take preventive action before hackers compromise their devices. 
8. Helium - is a platform for IoT developers, able to build a network and transfer data from IoT devices. The platform is built on a peer-to-peer wireless network, making it easy for sensors and IoT devices to connect to the Internet. The company is taking a unique approach to motivating customers to adopt their helium hotspot, which sells for $495. They offer their cryptocurrency, helium, in exchange for the purchase and use of a device that helps build LongFi wireless networks.
9. Hologram - is a connectivity toolkit that allows manufacturers, engineers and creators of all types to connect their devices to wireless data, and manage billing as they grow. 
10. InfluxData - created an open-source platform specifically designed to analyze metrics and events (time-series data) for DevOps and IoT applications. Whether the data comes from people, sensors or machines, InfluxData enables developers to build monitoring, analytics and Internet of Things applications, quickly delivering measurable results.
11. Inspirit IoT - The mission is to provide hardware gas pedals combined with advanced high-level synthesis and machine learning optimization tools to deliver intelligent Internet of Things applications. 
12. Karamba Security - patented software detects and prevents cyberattacks on a wide range of connected devices and systems, including automotive ECUs, Industry 4.0 controllers, enterprise edge devices and Internet of Things endpoints. 
13. Logmore - offers small, cost-effective data loggers to monitor organizations' needs, supported by their cloud-based service. Data uploads are done in less than a second with simple QR code scans that are compatible with any smart device that has a camera.
14. Medigate's mission is to protect every clinical network from cyberattacks. Notable for its extensive expertise in medical device security and asset management, which is a first-of-its-kind healthcare platform. With its help, hospital networks can securely manage all the medical devices on their network, enabling the deployment of existing and new devices for patients while ensuring privacy and security.
15. Particle - is an end-to-end Internet of Things platform that combines software, hardware and connectivity capabilities as an integrated solution to ensure the reliability, scalability and security of its customers' Internet of Things products. 
16. PFP Cybersecurity - uses behavioral analysis to detect dangerous attacks based on implants in hardware, firmware and configuration.
17. The PoLTE - cloud geolocation services platform is a patented alternative to traditional GPS technology that uses ubiquitous 4G and 5G cellular networks and cloud computing to provide highly accurate indoor and outdoor location data as a service (LaaS). Polte Cloud Location over Cellular (C-LoC) technology provides cost savings in supply chain, logistics, transportation, manufacturing, automotive, energy, government, healthcare and other sectors where assets are in motion and widely dispersed.
18. Securithings - an Internet of Things security platform that easily integrates with vendors and Internet of Things platforms to protect against illegal access to devices.
19. SPAN.IO - develops products that enable rapid deployment of renewable energy and provide an intuitive interface for the home.
20. SWIM.AI - provides software that performs real-time analytics and machine learning for enterprises, equipment manufacturers, smart cities and IOT companies. 

Conclusion:

The Internet has long ceased to be a free and democratic space with many opportunities. The success or failure of your project can be determined by the monopolists that hold the bulk of the traffic. Depending on your startup, it could be the App Store, Google Play, or social networks.