The IDC MarketScape report examined the capabilities and strategies of PTC and 11 other IoT platform vendors. Each company was evaluated according to a comprehensive set of criteria, including the core elements of an IoT platform: connectivity management, device management, data ingestion, processing, management, visualisation tools, application enablement tools, and analytics.
PTC has been an early leader in IoT, having announced the eighth version of its IoT platform earlier this year during the LiveWorx IoT industry event hosted by PTC. More than 1,200 companies and 250 partners have selected ThingWorx as their IoT platform, and many system integrators have built IoT competency centers around the ThingWorx technology.
ThingWorx is the core of PTC’s IoT technology portfolio, comprised of a rapid application development platform, connectivity, machine learning capabilities, augmented reality, and integration with leading device clouds. These capabilities combine to deliver a robust IoT technology stack that enables customers to securely connect assets, quickly create applications, and innovate new ways to capture and manipulate data on the edge to generate value.
The report highlighted several strengths, noting “PTC's heritage in CAD and engineering software plus its augmented reality assets make PTC well suited to develop digital twin technology like that found in its ThingModel inside ThingWorx — a feature that will be in increasingly high demand from industrial customers.” The report goes on to recognize PTC for its “many investments in Industrial IoT technology that demonstrate its commitment to the space. Customers note that PTC offers a feature-rich platform.”
“PTC has established itself as a leader in the IoT platform market, as it offers one of the more robust application enablement platforms available today with ThingWorx,” said Stacy Crook, research director, IDC’s Internet of Things Ecosystem and Trends. “PTC has been successful in establishing partner relationships with significant players in the IoT ecosystem and does not have allegiance to a single cloud platform, giving customers flexible deployment options.”
“We’re pleased that the IDC MarketScape recognized PTC’s strengths and positioned us as a leader among IoT platforms,” said Jim Heppelmann, president and CEO, PTC. “PTC is committed to leading the convergence of the physical and digital worlds by making the IoT and augmented reality (AR) accessible, intuitive, and robust. With ThingWorx, companies can transform their businesses and capitalize on the power of the IoT and AR faster than ever.”