NEEDHAM, Mass.–(BUSINESS WIRE)– PTC announced on August 11, 2016 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.”
About IoT Analytics
IoT Analytics is the leading provider of market insights for the Internet of Things (IoT), M2M, and Industry 4.0. More than 20,000 IoT decision makers rely on their data-driven market research every month. The products and services portfolio includes free insights on IoT markets and companies, focused market reports on specific IoT segments and Go-to-Market services for emerging IoT companies.
About IoT Platforms Market Report 2015 – 2021
The report focuses on IoT application enablement platforms, which typically consist of elements such as device connectivity & normalization, device management, database, processing & action management, analytics, visualization, additional tools, and external interfaces. The study also outlines the $1.6B IoT Platform market by region, segment, and platform provider. It examines (expected) revenue of the leading IoT Platform providers in greater detail across 10 vertical-industry segments and 7 regions with deep dives into North America, Europe and Asia. Additionally, the study describes the top 5 trends affecting IoT platforms as the fast growing market is being transformed by increasing M&A and funding activity.
About Experton Group
Experton Group is the leading fully integrated research, advisory and consulting company for mid-sized and large organizations, maximizing the business value of their ICT investments through innovative, neutral and independent expert advice. Experton Group offers consulting services, market surveys, conferences, seminars and publications related to information and communications technology issues. Our consulting portfolio includes technology, business processes, management and business co operations, investments and mergers. Experton Group’s founders have many years of consulting and research experience. Experton Group started business in July, 2005. Today Experton Group AG and Experton Group FZ-LLC are in existence. The company has offices in Munich and Kassel.
About the Industry 4.0/Internet of Things Vendor Benchmark 2016
The “I4.0/IoT Vendor Benchmark 2016” is based on the “Experton Market Insight” methodology developed by Experton Group AG. This validated and internationally acknowledged methodology serves as basis for the evaluation and positioning of the individual vendors. For each vendor, a detailed scoring based on key and additional secondary criteria is provided for each product category. These criteria are weighted, based on the respective product category, resulting in an assessment of the individual social offering’s attractiveness (“portfolio attractiveness”) and the strength of the individual vendor (“competitive strength”). The benchmarked vendors had to supply answers to the questionnaire by September 28, 2015.
TriStar is a valued and long-time partner of PTC, a global provider of technology platforms and solutions that transform how companies create, operate, and service the “things” in the Internet of Things (IoT). The company’s next-generation ThingWorx® technology platform gives developers the tools they need to capture, analyze, and capitalize on the vast amounts of data being generated by smart, connected products and systems. The company’s field-proven solutions are deployed in more than 26,000 businesses worldwide to generate a product or service advantage. PTC’s award-winning CEO, considered an industry thought leader, co-authored the definitive guides to the impact of the IoT on business in the Harvard Business Review.
PTC, the PTC logo, and ThingWorx are trademarks or registered trademarks of PTC Inc. or its subsidiaries in the United States and other countries.