PTC develops, markets and sells ThingWorx – an industrial Internet of Things (IoT) platform that helps businesses source, contextualize and synthesize data while orchestrating processes and presenting context-aware applications to users. ThingWorx provides features, including deep connectivity options, application development, device management, data management & processing, analytics, visualization, and user interface for developers – enabling them to create powerful applications for end users.
IoT platform market is currently in emerging stage with the presence of multiple vendors with varying degree of IoT platform capabilities. Depending on the target market and application segments, these vendors are helping enterprises in their digital business initiatives. Most of these vendors have limited capabilities in terms of IoT solution capabilities and are focusing on their specific market segments. However, driven by tremendous growth opportunities, vendors are continuously expanding their capabilities through in-house developments, strategic acquisitions, and developing partnership ecosystem.
Quadrant Knowledge Solutions’ recent study of the “Internet of Things (IoT) Platform Global Market Outlook” analyzes market dynamics, trends, opportunities, and the vendor ecosystem of the global IoT platform market. This study provides strategic analysis of the global IoT platform market in terms of short-term and long-term growth opportunities. The study also provides detailed market forecast analysis of the global IoT platform market in various geographical regions, industry segments, and market segments. The IoT platform market outlook research helps companies formulate growth strategies by identifying growth prospects, market trends, market drivers, and challenges in the global market.
The research also provides competitive positioning and supplier landscape analysis of major IoT platform providers, including Axiros, Ayla Networks, Bosch Software Innovations, Cisco, Eurotech, GE, HP, IBM, Meshify (HSB), Microsoft, PTC ThingWorx, Telit, and such others.
PTC (ThingWorx) Is Recognized As 2017 Technology Leader in the Global IoT Platform
As part of the research on “Internet of Things (IoT) Platform Global Market Outlook,” Quadrant’s competitive landscape analysis of the IoT platform market compares the vendors’ technological capabilities in providing different applications. Quadrant research analyzed vendors in terms of sophistication of technology platform, product capabilities, customer impact, ease of use, visionary innovation, and future roadmap.
According to research findings, Quadrant Knowledge Solutions recognizes ThingWorx as the 2017 technology leader in the global IoT platform market. PTC’s leadership recognition is driven by its superior technology platform, comprehensive capabilities, and high customer impact. ThingWorx provides the comprehensive sets of integrated IoT-specific development tools for developing innovative IoT solutions for variety of industry applications. Instead of working with multiple technologies, ThingWorx with the most comprehensive IoT platform capabilities enables developer to build scalable, interoperable, and production-grade applications in a single technology platform. ThingWorx functionality includes rapid application development functionalities, connectivity, advanced analytics, machine learning, augmented reality, and integration with leading device clouds. These functionalities enable businesses to securely connect assets and create innovative applications and services supporting digital transformation initiatives in a variety of industries.
ThingWorx’s capabilities are a result of its technology innovation and strategic acquisition of key IoT technology by PTC. The platform’s capabilities combines application development from ThingWorx, communications connectivity to industrial equipment from Kepware, IoT connectivity and device management from Axeda, machine learning and predictive analytics from Coldlight, and augmented reality from Vuforia. PTC, with ThingWorx, is well positioned to transform the way smart, connected products are created, operated, and serviced.
ThingWorx’s Capability in the Global IoT Platform Market
ThingWorx is the enterprise-ready industrial IoT platform that enables rapid creation of smart, connected applications. ThingWorx features include ThingWorx Foundation, ThingWorx Utilities, ThingWorx Analytics, ThingWorx Studio, and ThingWorx Industrial Connectivity. ThingWorx IoT platform promises to deliver a complete set of IoT-specific development capabilities for making solutions more powerful and enabling faster time to market.
- ThingWorx Foundation: ThingWorx Foundation is the developer-oriented end-to-end technology platform that enables developers to rapidly connect, create, and deploy enterprise-ready IoT applications. By connecting all the ThingWorx components into single platform, ThingWorx Foundation provides a simplified and seamless approach for developers to create IoT applications and comprehensive solutions for the smart connected enterprise. Without requiring coding knowledge, it enables developers to build scalable applications using drag and drop tools. It also provides security by allowing role-based access configurations for business users, administrators, and developers for developing secure solutions.
- ThingWorx Utilities: ThingWorx Utilities offers comprehensive set of tools that enable and support the rapid deployment and adoption of IoT applications. ThingWorx Utilities provides IoT capabilities for a) device management, b) process workflow and c) integration for business users to define, monitor, manage, and optimize the performance of their connected products and assets. Device Management capabilities include the utilities for provisioning and asset management, alert management, remote access and control, and software content management. IoT Process Workflow capability includes drag and drop interface to create business processes and provides ready visibility into progress and statues of the processes. ThingWorx IoT Integration provides a standard framework for integrating IoT applications and information with existing business systems accelerating IoT solution deployments.
- ThingWorx Analytics: ThingWorx Analytics enable developers to quickly and easily add real-time pattern and anomaly detection, predictive analytics, and simulative intelligence in the applications they are building on ThingWorx. By using sophisticated AI and machine learning technology, developers can automate complex analytical processes that once required teams of statisticians or data scientists to complete. ThingWorx Analytics adds expediential value to applications built on ThingWorx.
- ThingWorx Studio: ThingWorx Studio consists of efficient and easy-to-use authoring tools that transform applications and objects into immersive experience. ThingWorx Studio provides composite view of digital and physical product data, dashboard, and alerts presented in 2D, 3D, and augmented reality. PTC’s unique capability of incorporating augmented reality and immersive experience into IoT platform capability help enterprises in improving customer experience, services, and operations. Industrial companies can significantly improve the engineering and manufacturing of products.
- ThingWorx Industrial Connectivity: ThingWorx provides specific industrial connectivity feature that is powered by the industry-leading Kepware technology. ThingWorx Industrial Connectivity delivers support for over 150 commonly-used industrial protocols and a server that aggregates data and connects to the underlying ThingWorx ThingModel. ThingWorx Industrial Connectivity supports smart manufacturing and industry 4.0 initiatives by providing seamless connectivity of plant floor ecosystem with all aspects of the enterprise.
Internet of things (IoT) has emerged as the most critical element in the implementation of digital transformation initiatives by organizations. IoT technologies are becoming a major disruptive force by connecting people, processes, data, and things for improved value creation to businesses, economies and individuals. The digital transformation enabled by internet of things promises significant business opportunities across industry sector. Quadrant Knowledge Solutions believes that, for providing best-in-class IoT solution, vendors must focus on building a robust partnership ecosystem with a focus on building use-case and industry-specific solution portfolio.
With the presence of several innovative start-ups and well-established vendors offering IoT platform solutions and services, end users are often facing challenges in selecting the right technology partner. PTC’s (ThingWorx), with its most comprehensive industrial IoT platform with unique capabilities of rapid application development, advanced analytics, augmented reality, and integration with leading device clouds, is well positioned to help end users to realize the true potential of a smart, connected enterprise. Driven by strong overall performance in terms of sophistication of technology, product feature, visionary innovation, and strong customer impact, Quadrant Knowledge Solutions recognizes PTC (ThingWorx) as the 2017 technology leader in the global IoT platform market.
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