Top 12 embedded software IoT giants in Sweden in 2026
Sweden has emerged as a hub for innovation in the field of Internet of Things (IoT) embedded software, with numerous companies pushing the boundaries of technology and driving growth in various sectors. As we approach 2026, the landscape is set to become even more dynamic, with new players entering the market and existing ones expanding their offerings.
The Swedish IoT ecosystem is characterized by a strong focus on research and development, with institutions like KTH Royal Institute of Technology and Lund University playing a significant role in driving innovation. The government has also been actively supporting the growth of the sector through initiatives such as the “Swedish IoT Strategy” which aims to position Sweden as a global leader in IoT.
In this report, we will take a closer look at the top 12 embedded software IoT giants in Sweden in 2026, analyzing their market performance, product offerings, and technical capabilities. We will also explore the trends that are shaping the industry and provide insights into the key challenges and opportunities facing these companies.
1. Ericsson
| Rank | Company Name | Revenue (2025 est.) | Market Share |
|---|---|---|---|
| 1 | Ericsson | $6.3B | 25% |
Ericsson is a leading provider of IoT solutions, with a strong focus on 5G and Industry 4.0. The company’s embedded software offerings include its IoT Accelerator platform, which enables businesses to quickly develop and deploy IoT applications.
2. ABB
| Rank | Company Name | Revenue (2025 est.) | Market Share |
|---|---|---|---|
| 2 | ABB | $4.8B | 19% |
ABB is a global leader in industrial automation, with a significant presence in the IoT market. The company’s embedded software offerings include its Ability Edge platform, which enables businesses to optimize their operations and improve efficiency.
3. SKF
| Rank | Company Name | Revenue (2025 est.) | Market Share |
|---|---|---|---|
| 3 | SKF | $2.1B | 8% |
SKF is a leading provider of bearings and seals, with a growing presence in the IoT market. The company’s embedded software offerings include its Condition Monitoring platform, which enables businesses to predict and prevent equipment failures.
4. Volvo Group
| Rank | Company Name | Revenue (2025 est.) | Market Share |
|---|---|---|---|
| 4 | Volvo Group | $1.8B | 7% |
Volvo Group is a leading provider of commercial vehicles, with a growing presence in the IoT market. The company’s embedded software offerings include its Connected Services platform, which enables businesses to optimize their fleet operations.
5. Scania
| Rank | Company Name | Revenue (2025 est.) | Market Share |
|---|---|---|---|
| 5 | Scania | $1.4B | 6% |
Scania is a leading provider of commercial vehicles, with a growing presence in the IoT market. The company’s embedded software offerings include its SARTA platform, which enables businesses to optimize their fleet operations.
6. Husqvarna
| Rank | Company Name | Revenue (2025 est.) | Market Share |
|---|---|---|---|
| 6 | Husqvarna | $1.2B | 5% |
Husqvarna is a leading provider of outdoor power equipment, with a growing presence in the IoT market. The company’s embedded software offerings include its Connect platform, which enables businesses to optimize their operations.
7. Atlas Copco
| Rank | Company Name | Revenue (2025 est.) | Market Share |
|---|---|---|---|
| 7 | Atlas Copco | $1.1B | 4% |
Atlas Copco is a leading provider of industrial equipment, with a growing presence in the IoT market. The company’s embedded software offerings include its SmartLink platform, which enables businesses to optimize their operations.
8. LKAB
| Rank | Company Name | Revenue (2025 est.) | Market Share |
|---|---|---|---|
| 8 | LKAB | $943M | 4% |
LKAB is a leading provider of mining equipment, with a growing presence in the IoT market. The company’s embedded software offerings include its MineSense platform, which enables businesses to optimize their operations.
9. Sandvik
| Rank | Company Name | Revenue (2025 est.) | Market Share |
|---|---|---|---|
| 9 | Sandvik | $843M | 3% |
Sandvik is a leading provider of mining equipment, with a growing presence in the IoT market. The company’s embedded software offerings include its AutoMine platform, which enables businesses to optimize their operations.
10. Cognimab
| Rank | Company Name | Revenue (2025 est.) | Market Share |
|---|---|---|---|
| 10 | Cognimab | $743M | 3% |
Cognimab is a leading provider of IoT solutions, with a strong focus on Industry 4.0. The company’s embedded software offerings include its MAB platform, which enables businesses to optimize their operations.
11. Sensibo
| Rank | Company Name | Revenue (2025 est.) | Market Share |
|---|---|---|---|
| 11 | Sensibo | $643M | 2% |
Sensibo is a leading provider of IoT solutions, with a strong focus on home automation. The company’s embedded software offerings include its Smart Thermostat platform, which enables businesses to optimize their operations.
12. Enea
| Rank | Company Name | Revenue (2025 est.) | Market Share |
|---|---|---|---|
| 12 | Enea | $543M | 2% |
Enea is a leading provider of IoT solutions, with a strong focus on Industry 4.0. The company’s embedded software offerings include its Open Source platform, which enables businesses to optimize their operations.
The top 12 embedded software IoT giants in Sweden in 2026 are characterized by a strong focus on innovation and research and development. These companies have established themselves as leaders in the market through their cutting-edge technology and expertise. As we look ahead to 2026, it is likely that these companies will continue to drive growth and innovation in the industry.
However, there are also challenges facing these companies, including increasing competition from global players and the need for ongoing investment in research and development to stay ahead of the curve. Additionally, regulatory frameworks and standards for IoT devices and data processing may evolve significantly in 2026, posing additional challenges and opportunities for growth.
In conclusion, the Swedish IoT ecosystem is poised for continued growth and innovation in 2026, driven by the top 12 embedded software IoT giants. As we look ahead to the future, it will be exciting to see how these companies adapt to changing market conditions and continue to drive progress in this rapidly evolving field.
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