There are 5 Companies in Latvia
that provide IoT Development Services!

With a population of almost 2 million, Latvia has been qualified as a high-income country by the World Bank. It had come a long way since the year 1991, far from the shadow of the Soviet Union, to create a place for itself in global affairs – economic, political, cultural, or academic. 

Many people identify Latvia as a country with one of the fastest internet speeds in the world, more than the United Kingdom or France, even! However, the high-tech atmosphere in Latvia is much broader and exciting than that. In a short period of time, Latvia has managed to build a ground for the development of ecosystems that support the growth of high-tech and deep-tech industries and infrastructures.

Why You Should Work With Latvian IT Companies

Like the country itself, Latvian IT companies are in a continuous transformation and develop their capabilities at high speed. Organizing fairs and events, working with international companies, and exporting their services to almost all European countries, Latvian IT companies managed to increase their competitiveness and number of clients by more than 70% in 2019, compared to the previous year. In 2025, the rate of competitiveness continues to grow, with a predicted IT services market to be $292.33 million by 2025.

The Central Statistical Bureau suggests that in 2024, the worth of Latvia’s exports is 18.68 billion euros. According to another statistic, the Global Innovation Index 2024, Latvia ranks at 42 in the world. Just to mention, in 2015, the same index placed Latvia in the 81st position. 

What to Be Aware of When Working With Latvian IT Companies

There are not too many things that are challenging for Latvian IT companies, and probably, like in all three Baltic countries, Latvia faces the same problem - limited human resources. Out of 2 million people in Latvia, 4.5% are enrolled in the IT industry. And even if the country tries to stimulate the numbers to grow, everything moves a bit slowly, like in Estonia, for example.  

Are Latvian Companies Reliable?

The Latvian business traditions find their roots back in the former Soviet Union, and while it bordered the Nordic countries, the Latvian society followed practices and business culture from both sides. Now, Latvian companies, including those in the IT industry, enjoy a high level of reliability and trust, including but not limited to on-time delivered projects, well-executed digital services, good project management, and, why not, linguistic capabilities of the locals. 

How Does Latvia Perform Compared to Its Neighboring Countries In Terms of IT?

Together with Estonia and Lithuania, Latvia is a part of the Baltic IT hub - probably one of the most progressive in Europe. The well-developed IT infrastructure is interconnected with the other two countries, and many companies provide services in the entire Baltic region.  It is something specific for the region, where three countries collaborate tightly based on the understanding that together they are stronger. 

Taking Latvia apart from those two countries, we could say that its IT industry does not differ from its neighboring countries, and probably is at a slightly lower level than Estonia’s tech scene, since the last one has been through many digital transformations lately.

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.