IoT Analytics and Experton Group Recognize PTC’s Comprehensive ThingWorx IoT Platform and Strong Ecosystem Partnerships.
PTC today announced that it has been named “IoT Platform Market Leader” in the “IoT Platforms Market Report 2015-2021,” published by IoT Analytics, and the “Industry 4.0/Internet of Things Vendor Benchmark 2016,” report published by Experton Group.
Both research and consulting firms recognize the effective and easy-to-use rapid application development capabilities of the ThingWorx® IoT platform, the strategic investments on the part of PTC to develop a robust IoT platform, and strong ecosystem partnerships.
With 18% market share, PTC is the IoT platform provider market share leader, according to IoT Analytics. The report recognizes early market leadership and software experience as key strengths of PTC, which “has emerged as a strong delivery focused challenger.” Additionally, IoT Analytics cites the strategic partnerships PTC announced with GE and Bosch in 2015 as being essential for IoT platforms to prosper with multiple systems communicating throughout the IoT ecosystem.
“PTC has spent over $600M in strategic investments to align their existing enterprise software business with future IoT solutions,” said Padraig Scully, vice president, market research, IoT Analytics.
“The well-chosen acquisitions will enable PTC to develop an end-to-end IoT platform including connectivity (Axeda), application enablement (ThingWorx), analytics (ColdLight), augmented reality (Vuforia), and industrial automation (Kepware). PTC’s existing enterprise software business in CAD, PLM and SLM is expected to evolve into a closed-loop approach, integrating sensor data to improve product design and service.”
In its market survey, the Experton Group compared the portfolios and competitive strength of Industry 4.0 / Internet of Things key vendors and service providers. The report highlights how the ThingWorx rapid application development, analytics, and device management capabilities result in a competitive advantage and a unique selling proposition (USP).
“PTC, with its ThingWorx IoT platform, can be regarded as the leader in this market segment, having secured a strong starting position through the acquisitions of ThingWorx in 2013 and Axeda in 2014,” said Arnold Vogt, senior advisor, Experton Group. “As compared to many other IoT platforms, the ThingWorx platform is an important USP for PTC. Regarding the ecosystem, PTC is also ahead of its competitors and has already built up a marketplace with 200 apps around ThingWorx.”
Additionally, Experton Group ranked PTC as “Market Leader” for Industrial Big Data Analytics, stating that the ThingWorx Analytics solution has the potential to allow extensive interaction of analytical functions, measure control and regulate functionality.
“IoT Analytics and Experton Group ranking PTC as IoT market leaders further validates the strategy and direction that we are taking with our IoT solutions,” said Jim Heppelmann, president and CEO, PTC. “From thought leadership to technology to partnerships, PTC is focused on empowering its customers with tools and solutions to capitalize on the Internet of Things. PTC is bridging the digital and physical worlds to help create a new wave of connected products and services that will transform business and enable enterprises to accelerate time to value.”