The strength of the PTC ThingWorx IoT platform has been recognized by two research and consulting firms, being named ‘IoT platform market leader’ in the IoT platforms market report 2015-2021 published by IoT Analytics, and for possessing a competitive advantage in the Industry 4.0/Internet of Things vendor benchmark 2016 published by Experton Group.
Both reports 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 the strong ecosystem partnerships. According to IoT Analytics, PTC has a 18% market share, and the firm cites the strategic partnerships announced by PTC with GE and Bosch in 2015 as essential for IoT platforms to prosper with multiple systems communicating throughout the IoT ecosystem. In addition, 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).
The Experton Group market survey highlights how PTC secured itself a strong starting position through the acquisitions of ThingWorx in 2013 and Axeda in 2014, with a marketplace with already 200 apps available around ThingWorx, and also stating that the ThingWorx Analytics solution has the potential to allow extensive interaction of analytical functions, measure control and regulate functionality.