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10 Best Internet of Things Stocks To Buy Right Now

What sets the 10 best internet of things stocks to buy right now apart from the competition is that they are stocks of large, well-established companies. Companies like Amazon.com, Inc. (NASDAQ:AMZN)Apple Inc (NASDAQ:AAPL), and Alphabet Inc (NASDAQ:GOOGL) have a lot of capital on their balance sheets, which they can use to fund their projects in the Internet of Things industry, which is still in its inception phase. In addition, these companies are well diversified and have solid business models that allow them to generate revenue, while venturing into riskier and new areas of the tech space. 

We will get to the best internet of things stocks further on, but first let’s take a closer look at the industry itself and the latest trends. While there were some projects aimed at connecting physical devices to the internet since it was first introduced in 1989, the term “Internet of Things” was coined in 1999 by Kevin Ashton, a British technology pioneer, who worked on the development of radio-frequency identification (RFID) and developed a system of sensors that would connect physical objects to the internet.

During the first decade of the 21st century, the term started to gain some traction and it is accepted that the Internet of Things was officially born between 2008 and 2009, with Cisco saying that the Internet of Things was born when there were more things or objects connected to the Internet than people. In 2010, the number of smartphones, tablets, and other devices connected to the internet amounted to 12.5 billion, versus the human population of 6.8 billion.

Zayo Group Holdings, ZAYO, Cloud Computing diagram on the new computer interface as concept infromation technology shutterstock_163229387

everything possible/Shutterstock.com

The Internet of Things is aimed at creating systems that connect things to the internet through electronics, sensors, and software in order to allow them to collect and exchange data within a network. The objects within the Internet of Things space each have a unique identifier that allows them to provide context and give visibility into the network, the devices, and their environment. In this way, the Internet of Things will encompass many areas of life and business, leading to the development of smart homes, smart cities, intelligent transportation, and smart grids.

Right now, the Internet of Things industry is booming as there are all sorts of objects connected to the internet, including cars, thermostats, light bulbs and more, and more companies are trying to capitalize on that, including some of the best internet of things stocks to buy right now, which use the resources they have at hand, such as big userbases and strong brand names that allow them to find customers for their new IoT products and services. Other companies venture into providing services for other businesses that are engaged in the IoT industry by providing them cloud space and processing power.

In this way, the Internet of Things industry seems to be booming. Gartner estimates that there are over 8 billion devices currently connected to the Internet (excluding smartphones, tablets, etc.), up by 31% compared to 2016. It also forecasts that the number of connected devices will reach 20.42 billion. The majority of IoT devices are from the consumer category, which generate the bulk of hardware spending of around $725.70 billion. Going forward, it is expected that consumer devices will remain the dominant market in the IoT space, while hardware spending in this market will reach $1.49 trillion by 2020.

Having said that, let’s take a closer look at the 10 best internet of things stocks to buy right now. The stocks are sorted based on their hedge fund sentiment, for which we used the aggregate number of funds tracked by us that held shares of each of the companies in question. While it’s most likely that the majority of the best internet of things stocks to buy right now enjoy the support of smart money investors for reasons other than their involvement in the IoT space, it is certain that this industry is not overlooked by investors in their analysis.

This is why the 5 best internet of things companies to invest in, which are all present on this list, may be good investments regardless of their success in the IoT space, although all of them have achieved a great deal of success in this area. Therefore, in addition to discussing the hedge fund sentiment surrounding the best internet of things stocks to buy right now, we will also discuss the endeavors of these companies in the IoT industry. Check out the list beginning on the next page.

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