PTC Recognized as a "Provider of a Rich IoT Platform"
Published2017.08.08 14:45PTC IDC Market Research Report
IDC explained in this MarketScape report that PTC's industrial IoT platform ThingWorx is the platform that provides the most powerful application support capabilities in the market today, along with deployment flexibility for native integration with various cloud platforms.
IDC evaluated the capabilities and strategies of 11 IoT platform providers, including PTC. Each company was evaluated based on a comprehensive set of criteria, including core IoT platform components such as connectivity management, device management, data collection, processing, management, visualization tools, application implementation tools, and analytics.
The company unveiled the latest version of its IoT platform, 'ThingWorx 8', at LiveWorx, the world's largest annual IoT conference. 1,200 enterprises and 250 partners are currently using ThingWorx as their IoT platform, and major system integrators around the world are building IoT competency centers based on ThingWorx technology.
ThingWorx, a core component of PTC's IoT portfolio, comprises a platform for rapid application development, connectivity, machine learning, and augmented reality technologies, and supports integration with major device clouds. By supporting a robust IoT technology stack, it enables customers to securely connect assets, rapidly build applications, and offer innovative approaches to data collection and utilization at the edge. In particular, ThingWorx is used as the industrial IoT platform for Hyundai Electric's energy solution brand, "INTEGRICT." Through Integrict, which utilizes ThingWorx, Hyundai Electric is conducting its "Energy Solutions Business," supporting efficient energy management from production to consulting and construction of existing power facilities.
The report highlighted PTC's strengths, stating, "PTC's traditional heritage in CAD and engineering software, combined with augmented reality technology, makes it ideally suited to develop digital twin technology. For example, features like ThingModel within ThingWorx are expected to generate strong demand among industrial customers." The report also noted, "A significant portion of PTC's investments in industrial IoT technologies have proven to be beneficial to the market." “Customers also recognize PTC as a company that provides a feature-rich platform,” he added.
"PTC has established its leadership in the IoT platform market by offering a robust application enablement platform," said Stacy Crook, research director for IDC's IoT Ecosystem and Trends division. "By partnering with a wide range of industry leaders, PTC has successfully built an IoT ecosystem. Furthermore, by not being locked into a single cloud platform, PTC offers customers flexible deployment options, which is a strong advantage."
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