Forrester evaluated the current offering, strategy, and market presence of PTC and 14 other vendors. Each company was evaluated according to a comprehensive set of 24 criteria, grouped into three high-level categories: current offering, strategy, and market presence. Participating vendors all had a significant focus on the industrial domain and its use cases, native support for key industrial protocols, and a strong international presence. Within that context, PTC was named one of the leaders by Forrester.
With few exceptions, the leaders had a public cloud capability, analytics capabilities, and API-led integration. Some companies, such as C3 IoT are focusing on the analytics part of Industrial IoT, while leaving device connection to companies such as Amazon Web Services or Microsoft Azure, although C3 IoT is a partner of both AWS and Azure.
The following graphic shows how Forrester perceives the industrial IoT platform market based on its criteria:
Regarding PTC’s standing in the evaluation, Forrester noted: “PTC fuses device connectivity strength with augmented reality vision . . . and the company offers rich capabilities spanning design, manufacture, service, and operations, combining these in accessible end-user applications.” (more…)
Just about a year ago, PTC received the IoT Innovation Vendor of the Year Award from marketing analytics and consulting firm Compass Intelligence at the 2016 International Consumer Electronics Show (CES). The Compass Intelligence Annual Awards recognize the best Internet of Things (IoT) products and services offered in the market during the past year.
In the view of the award presenting organization, PTC had become a leading provider of technology that enables its customers to realize the value inherent in the Internet of Things. As well, in their opinion, PTC’s CEO, Jim Heppelmann, had become a major thought leader, having coauthored two seminal HBR articles that describe the implications of the IoT and offering companies a blueprint to get started on their own IoT journeys.
This week PTC announced that it had been named Industrial Internet of Things Company of the Year by IoT Breakthrough, an independent organization dedicated to recognizing IoT products and companies that stand out in the industry. PTC also received the IoT Breakthrough award for “Industrial IoT Solution of the Year” for its Kepware KEPServerEX industrial connectivity software.
Last week at LiveWorx 2015, PTC made several major product and strategic announcements around the Internet of Things (IoT) and their implications for the future of PTC. A couple of the most prominent of these product announcements were ThingWorx 6.0 and ThingWorx Converge.
Before being acquired by PTC about 18 months ago, ThingWorx realized that making IoT a reality required an ecosystem of complementary technologies that enable “things” to be created, connected, operated, and serviced. With the ecosystem established, applications that capitalize on the data these “things” generate can be developed.
According to Russ Fadal, President & General Manager, ThingWorx, a PTC business, it’s estimated that in 2010 there were approximately 7 billion connected smart devices in the world. That number is expected to be in the neighborhood of 1 trillion by 2035. That’s explosive growth, to say the least!
He said that today IoT is challenged because 80% of resources are dedicated to infrastructure and 20% for applications, and he would like to see those percentages reversed. Other issues that he, PTC, and the IoT industry as a whole are trying to resolve include security, predictable performance, 10X+ faster production and implementation, and what to do with the mountains of data generated by IoT devices. Security is especially important because it is not an event, but an ongoing process that will never go away. No small concerns here, therefore the evolution of the platform ecosystem — ThingWorx.
So, you think that the Internet of Things (IoT) is a fad? Based on my experience at PTC’s LiveWorx 2015 in Boston this week, IoT is a big part of the future, not only for PTC, but for all of us.
Still not convinced? Just the attendance figures alone from this year over last might help convince you – LiveWorx 2014 (~350 attendees); LiveWorx 2015 (>2,300 attendees). Numbers don’t lie and that shows the growing interest in IoT.
Because of the amount of material covered in just a couple of days, and the major implications surrounding IoT and PTC, I’ll be writing about some the major (and some minor) technology and business announcements, as well as how this all fits together and might shape PTC’s strategy going forward, including:
The benefits and advantages of IoT from PTC’s perspective
Problematic IoT concerns that persist, including security and safety
PTC’s partnership with ServiceMax for connected field service management
PTC’s ThingWorx Converge as an IoT integration hub
The ColdLight acquisition for handling big data and predictive analytics
The ThingWorx Marketplace that has apps and related tools for IoT
It appears that PTC is wading deeper into Internet of Things (IoT) waters with the announcement that it has signed a definitive agreement to acquire privately-held Axeda Corp., a pioneer in the development of technologies that connect machines and sensors to the cloud. Paying approximately $170 million in cash, PTC’s primary motivations behind the acquisition are Axeda’s innovative technology, customer base, and partnerships that could directly complement the PTC ThingWorx business across the entire Internet of Things technology stack.
Along with over 2,000 other attendees, we just returned from the PTC Live Global 2014 conference and exhibition in Boston. It was a very good show at a very good venue — the Boston Convention Center.
The two biggest things we noted at the conference were PTC’s involvment and commitment to the Internet of Things (IoT) and the introduction of PTC Creo 3.0. We also noted a more upbeat crowd attending the show this year than in years past. The attendees we spoke with said the lighter attitude was due to PTC’s announcements, PTC’s corporate direction, and an economy that continues to slowly improve.
PTC Technology Update – PTC Live Global 2014 Keynote