Following the inaugural State of the Industrial Internet of Things report, PTC has published a mid-year spotlight report on this rapidly evolving industry. The bi-annual reports tap into PTC’s 30 years of technology expertise, 30,000 global customers and 1,000 services partners to give a real-world and granular view of the Industrial Internet of Things (IIoT) ecosystem. They also leverage proprietary survey data from PTC customers complemented by market projections and case studies from analyst firms and consultancies.
The inaugural State of the IIoT report focused on companies’ use of the technology for streamlining internal benefits, including optimizing operations. While this internal use of IIoT remained the top use case (54%) in the spotlight report, PTC noticed development and implementation move outside company walls (i.e., customer-facing products, services, and solutions), where adoption increased drastically from 10% to 30%.
The transition for many organizations to ‘as-a-service’ business models is ushering in the era of smart connected products and allowing organizations to differentiate strategically and generate new revenue streams from this emerging opportunity. Accumulating this real-world connected asset data provides pivotal context for internal stakeholders across the value chain and hints at the future potential of digital twins.
The mid-year report further dives into this shift towards service-oriented business models as it spans different industries, company sizes, top use cases, and location-deployment (on-prem, public cloud, PTC hosted).
Read the State of Industrial Internet of Things mid-year update now!