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James Heppelmann, PTC’s president and CEO, recognizes the importance of the company’s IoT (Internet of Things) initiatives and he and the PTC team are putting formidable weight behind its growing IoT business. The company’s strategy became very clear in 2013 when it acquired ThingWorx, a platform provider for building and running applications for the IoT, setting itself up as a player in the telecommunications, utilities, medical devices, agriculture, and transportation industries, among others.
The company posted a solid start to 2015 and Heppelmann has made it clear the company is on pace to exceed its target of 200 new IoT customers for the year. Importantly, PTC is also continuously adding IoT capabilities to its core products, thereby enhancing their value and relevance. By releasing version 6.0 of the ThingWorx platform, which offers numerous new features and performance enhancements, plus introducing the ThingWorx-Axeda Integrator and ThingWorx Converge, PTC is keen on helping enterprise customers develop and deliver innovative IoT solutions.
In May, PTC acquired ColdLight, a provider of big data machine learning and predictive analytics. The idea is that ColdLight’s Neuron automated predictive analytics platform will enrich PTC’s technology portfolio, allowing PTC to deliver new value to its customers in new and existing markets. Once again, PTC has made a gamble that will pay off. ColdLight’s technology leverages AI (artificial intelligence) and machine learning to automatically and continuously learn from data, to discover patterns, to build predictive models, and to help companies create data-driven insights. It’s all right on point with where the industry is headed.
From continuing to develop ThingWorx to bringing big data analytics tools to its customers and maintaining a focus on IoT in manufacturing, PTC is succeeding by taking the market by the horns. If this keeps up, the company will become even more of a pace setter. Other companies will need to watch closely if they’re going to compete.
- ColdLight acquisition strengthens IoT business, which is already benefiting from ThingWorx and Axeda acquisitions
- On track to exceed company goal of 200 new IoT customers in 2015
- Continues to invest in ThingWorx properties, releasing new version of the ThingWorx platform, the ThingWorx-Axeda Integrator, and ThingWorx Converge