All-in-One Solution, Use Cases Can Be Established Within 2-3 Days

PTC Korea held a press briefing on the 11th at Samseong-dong to commemorate its 25th anniversary. PTC Korea, which supplies enterprise solutions such as computer-aided design (CAD), product lifecycle management (PLM), and application lifecycle management (ALM), presented through the briefing the progress and achievements of its digital transformation business through IoT solutions that started in 2016, augmented reality, and machine learning-based analytics solutions.

Since 2016, PTC has transformed from a traditional software company into an ICT information and communications company. In particular, based on ThingWorx, an industrial Internet of Things (IIoT) platform, the company has integrated its own CAD, PLM, and ALM solutions to position itself as a leading platform company in the smart factory field at the center of the domestic fourth industrial revolution.

Park Hye-gyeong, president who led the presentation, said regarding the achievements in the first year and a half since her appointment: "The various solution use cases through field pilot deployment of IoT, augmented reality (AR), and machine learning are quite significant points for PTC Korea's IoT business division." Additionally, the use of the company's ThingWorx deployed at Hyundai Heavy Industries in September 2016 and Hyundai Electric & Energy Systems in April 2017 demonstrated significant market potential in the domestic market.

In the case of Hyundai Heavy Industries as a real example, the company plans to first apply the ThingWorx IIoT platform as a system tailored to the customer's data, and secondly actively propose deployment of augmented reality (AR), mixed reality (MR), and machine learning analytics systems.

ThingWorx, an IoT platform, is a software platform that enables easy and rapid application development in complex and rapidly changing IoT environments. It supports object interconnectivity, machine learning, augmented reality, and device cloud integration, combining these comprehensive IoT technology stacks to provide to customers.

Currently, PTC is collaborating with global companies such as Caterpillar, GE, and Schneider in the IoT platform field, with GE's IIoT platform Predix being a notable example built on ThingWorx basis.

Lee Yeon-ja, Executive Vice President, who answered questions in the Q&A session, explained regarding the advantages of PTC solutions: "PTC has an all-in-one solution capable of handling the entire workflow of IoT platform development. During development, through a drag-and-drop method rather than coding, any customer can rapidly develop applications and construct through configuration, making it possible to establish user use cases in as little as 2-3 days."

Currently, PTC is achieving an average annual growth rate of 18% and has established itself as a leading global IoT platform company with a market capitalization of 8 billion dollars.