PTC is not a widely known name in the embedded industry, but would be known for its acquisitions of high level modelling tool developer Atego in 2014 and even way back to 3D graphics pioneer Division in 1999 for its virual reality and augmented reality software.
Last year it bought ColdLight’s Neuron automated predictive analytics platform to add to its 2014 purchase of Adexa, creating a software platform it calls ThingWorx that highlights the maturing of the booming IoT market.
“The Internet of Things is having a significant impact on the design, production, operation, and management of everyday products, prompting more companies to find the right partner to enhance their offerings and processes,” said Jim Heppelmann, president and CEO of PTC. “The selection of ThingWorx as an IoT solution by these partner companies validates our vision and open cloud platform approach, and serves as an endorsement of our easy-to-use tools that are critical to the success of any IoT strategy."
ThingWorx consists of a rapid application development platform, connectivity, machine learning capabilities, augmented reality, and integration with leading device clouds. It focuses on developing the components that contribute to IoT success – including analytics, application development, and connectivity – for markets that include manufacturing, aerospace and defense, telecommunications, and smart cities.
To date, the company says hundreds of its partner companies – solution builders – have chosen ThingWorx to accelerate their IoT initiatives. This includes Autoware, a provider of advanced solutions to control and supervise plants, processes, and supply chains; INDEFF, a specialized international solution provider for industry, smart manufacturing, and infrastructure; Wipro, a leading global information technology, consulting, and business process services company; HMS Industrial Networks, a provider of the Netbiter solution for remote monitoring of field equipment; and Acumen Solutions, a trusted leader in enterprise cloud transformation.
One of the many predictions for the growth of IoT, this time from IDC, says the worldwide Internet of Things market will grow to $1.7 trillion in 2020. “PTC has emerged as a clear leader in the Internet of Things market,” said Stephanie Atkinson, President, Compass Intelligence. “Its vision, robust technology portfolio, and strong market position make the company a clear choice for any organization with a need to capitalize on the Internet of Things and achieve improvements in efficiency, reductions in cost, and the advancement of new business models.”