There are 6 Companies in Hungary
that provide IoT Development Services!

Hungary is an open economy where particular emphasis is placed on encouraging foreign direct investments. Partnership with potential investors is a national priority, special attention is paid to the needs of already existing companies, and to the further development of the business climate. 

Starting in 2010, Hungary has put a lot of effort into developing the IT sector. Some of the best steps in this direction are: 

• Tax modifications and incentive systems related to R&D activities
• Strategic partnership for local IT companies, as well as government projects
• A dual education system based on the tech industry’s needs
• Adjusted the economic climate to the latest requirements of Industry 4.0

In Hungary, the IT Services market is predicted to reach a revenue of $2.06 billion in 2025, according to Statista. For 2024, the revenue for the same industry was $1.97 billion, which confirms the steady ground the national IT industry stands on. Additionally, Hungarian IT companies have access to the vast EU digital market, which allows them to export services across Europe. 

The most popular IT services provided by Hungarian companies are Software development, Software engineering, and cybersecurity. However, in the last several years, local companies have also focused on app development and have worked on an increasing number of projects in the AR and VR branches. 

Why You Should Work With Hungarian IT Companies

Even though the digital market is dominated by foreign IT companies (66%), there are also local companies that are striving to provide cutting-edge technology services, which may compete in some places with US, German, and UK companies. For central Europe, this represents a big step ahead and provides cheaper alternatives to the same services for potential customers. 

In 2023, the value of Hungarian exported IT services reached 33,664 million euros or 20.9% of the entire export value of the country. The numbers are expected to grow significantly due to foreign direct investments in the sector, which also grew by 19% in the 2019-2020 Q1, and in 2024, Hungary attracted 10 million euros in FDI.

What You Should Pay Attention to When Working With Hungarian IT Companies

Hungarian IT companies are not the best-known on the international market, so far. However, their increased potential lately may lead to a market boom in the central European market, and many potential customers could turn their attention to this progressive alternative. But the main challenge the companies will possibly face is a lack of experience in working with big projects. In its turn, the lack of experience can lead to poor project management, late project delivery, or even poorly executed projects. 

How Reliable Are Hungarian IT Companies

Hungarian IT companies don’t have a reputation for providing services in IT, which can turn both into an advantage and a disadvantage for the companies. Depending on how well local IT companies will start performing on a larger scale, the reliability of companies will be appreciated. 

How Does the Hungarian IT Sector Relate to the Neighboring Countries

The V4 countries are working together in many areas, including in the IT sector. Companies from these countries benefit from facilities and easier access to national markets, but they also compete. 

In these regards, Hungary is the 2nd fastest-growing country in the IT sector in the group of 4, straight after Poland, which already took the lead with an advantage of 35%. 

Outside the V4 group, Romania and Ukraine are also countries that are direct competitors with the Hungarian IT sector. It is still uncertain whether Hungary, Ukraine, Poland, or Romania will become the largest Central European hub in the EU, and generally, in Europe. 

IoT (Internet of Things) is a giant network with connected devices. These devices collect and share data about how they are used and the environment in which they are operated. 

IoT Development is the process of creating and deploying Internet of Things (IoT) devices and applications. Everything is done using sensors that are built into every physical device. These sensors continually emit data about the working state of devices and send it to the IoT platform, further analytics is performed on the data and valuable information is extracted as per requirement. The output is shared with other devices for a better user experience.

IoT Development has gained immense popularity in recent years, as the number of connected devices continues to grow at a rate of 25% year-over-year. By 2025, it is estimated that there will be over 30.9 billion IoT-connected devices worldwide.

Most IoT devices have the word smart at the start of their names: smartphones, smart watches, smart DVS, and smart homes. All these smart technologies are one of the essential criteria on which smart cities rely. 

As we see Internet of Things (IoT) development plays an important role:

• Improve operations by collecting and analyzing data from IoT devices.

• Increase efficiency by automating tasks and processes.

• Reduce costs by optimizing their operations.

• Create new revenue streams by offering new IoT-based products and services.

When choosing an IoT Development service provider for a project, we suggest you consider the following criteria:

• Look for a company with experience and expertise in IoT development, and a skilled team of IoT specialists.
• Check for reviews and feedback from previous clients.
• Make sure the company understands your needs.
• Ensure the company prioritizes data security
• Consider the level of post-development support

Custom IoT development can be a complex and challenging process, but TechBehemoths is a valuable resource for finding the best IoT Development companies for your projects with over 1228 companies in 85+ countries. The platform provides detailed company profiles, client reviews, and ratings to help you evaluate and compare different service providers and choose the one that meets your needs.

We’ve created also a powerful filter that you can use to narrow down the results based on your requirements and shortlist the companies. 

Alternatively, you can submit your project and our team will select and send you the best matching companies in about 1 hour.