As previously covered, Gartner recently issued its inaugural Magic Quadrant for Industrial IoT (IIoT) Platforms—an in-depth report defining the requirements and capabilities of industrial IoT, or IIoT, in the context of executing an IoT business strategy. PTC’s strong placement reflects several advantages; one specific benefit warranting a closer look is the PTC Marketplace.
The y-axes along Gartner’s Magic Quadrants reflect a vendor’s ability to execute. Placement along that axis is a good indicator of what Gartner thinks of strategy, resources and overall ability to succeed as a business. Operations is a key criterion; in this Magic Quadrant, vendor investment in delivering an IIoT marketplace is “considered essential.”
Currently, PTC’s enjoys the highest position along the ability to execute axis. Among PTC’s advantages as a platform is the PTC Marketplace (formerly ThingWorx Marketplace) which acts as a differentiator by way of apps, kits and products. It enables partners and customers to participate in an ecosystem based on complimentary technology sharing. But given that there’s currently no direct monetization play, what makes the Marketplace such an important factor in PTC’s overall IIoT strategy, particularly within the context of market growth?
The Marketplace offers several types of assets, including free pre-built tools, plugins, extensions, app trials and SDKs. Most of these resources include the ability to plug in some specific functionality and avoid a substantial amount of custom development. For developers pursuing an IoT proof-of-concept in an environment that prizes speed and cost, these resources are invaluable. In many cases, developers are combining Marketplace resources with PTC’s ThingWorx IoT platform to fast-track projects and focus on their unique requirements.
In addition to a wealth of free tools, the Marketplace also features solutions for addressing industry-specific problems. Created and delivered by PTC’s IIoT partners, Marketplace solutions provide a proven method for IIoT customers to work with our partners and quickly derive value from their IoT investments. In most cases, these valuable solutions are available as reference, or through a direct transaction with the authoring partner.
For many Independent Software Vendors (ISVs), System Integrators (Sis), and other partner types, the Marketplace provides an effective mechanism for extending reach and visibility into potential IIoT business opportunities. Complimentary pre-built tools help reinforce brand credibility and domain expertise, while serving as valuable segues to a direct relationship between customers and ISVs. Similarly, SI partners looking to build a robust IIoT solution will likely include the Marketplace in their process for vetting potential technology partners.
In a virtuous circle, the benefits that are freely exchanged between partners and customers also provide value to PTC. PTC often shares new pre-built tools on the Marketplace, for Marketplace customers and partners to use and evaluate. The resulting feedback is invaluable for charting the direction of the ThingWorx IoT platform as a tool that meets end-users’ needs for both usability and breadth.
The rise of vendor-created IIoT platforms reflects the impracticability of developing and maintaining internally built IoT systems. The PTC marketplace creates a best-of-both-worlds scenario: as our developers focus on building a purpose-built platform, the marketplace helps create a rich network of IoT partners to provide feedback and extend platform tools for niche uses. The PTC marketplace helps ThingWorx developers, partners and customers create the best IIoT platform on the market.
View your complimentary copy of Gartner’s report IIoT here and discover how PTC compares overall in the IIoT market.
This graphic was published by Gartner, Inc. as part of a larger research document and should be evaluated in the context of the entire document. The Gartner document is available upon request from PTC.
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