The most common offering of IoT startups is IoT software (offered by 77% of startups), followed by IoT hardware (45%), IoT connectivity (17%), and IoT services (14%). Of the 1,018 startups identified in IoT Analytics’ 2019 IoT Startups Report (IoT Startups Report & Database 2019), 237 have ceased to exist in 2021, and 46 have been acquired.