MUNICH, Germany – October 18, 2018 –– PTC (NASDAQ: PTC) today announced from Augmented World Expo (AWE) Europe 2018 the availability of new research in conjunction with Aberdeen Group titled, “How the Best-in-Class Use Augmented Reality for Superior Service Management.” The comprehensive research study and corresponding report identifies significant financial improvements realized by industrial companies embracing augmented reality (AR), and provides best practices for unlocking the potential of the technology across various environments.
In addition to the report published today, PTC announced exclusive data from Aberdeen that shows that organizations using AR have experienced significant year-over-year business growth and have improved their bottom lines dramatically.
“The rapid pace of the global market, digital transformation, and increasing shortage of highly skilled workers have produced a disruptive threat for businesses,” said Tom Paquin, research analyst, Aberdeen Group. “However, as evidenced by our latest report with PTC, companies that invest in AR, particularly manufacturing and service organizations, have the opportunity to gain a competitive advantage.”
For enterprises, AR can empower workers to understand and interact with the physical and digital worlds, build new skills with reduced training time and cost, and make informed decisions faster. As a result, businesses can unlock increased productivity and improve the effectiveness of training, manufacturing, and service.
“AR is one of the fastest growing segments in the technology market and has been shown to create significant business value for organizations adopting it. Industrial enterprises are keen to improve customer experiences, open up new revenue streams, and disrupt competition by leveraging the new AR capabilities for product and service differentiation,” said Jim Heppelmann, president and CEO, PTC. “Use cases being developed for end customers have a strong focus on service or maintenance instructions, enabling them to reduce machine downtime and maximize product value.”
PTC and the topic of enterprise AR took center stage today at AWE Europe 2018, the world’s leading AR and VR conference and expo, held October 18-19 in Munich, Germany.
This morning, Mike Campbell, EVP, Augmented Reality Products, PTC, led a keynote session titled, “PTC Vision for Augmented Reality in the Enterprise,” in which he spoke about the state of AR in the industrial enterprise, reviewed customer use cases, and illustrated the power of AR to fundamentally change the way people work and to allow organizations to re-imagine how to manufacture, sell, operate, and service industrial products.
“Augmented reality can deliver a significant advantage for industrial organizations as part of their overall digital transformation,” said Mr. Campbell. “PTC customers are better leveraging existing investments in CAD, IoT, and digitalization of content through AR experiences, enabling people to visualize and interact with the digital world in the real-time context of their daily work.”
As a Titanium Sponsor of and exhibitor at the event, PTC is showcasing its latest AR solutions – Vuforia Studio, Vuforia Engine, and Vuforia Chalk – as well as distributing copies of the Aberdeen research report at booth 118. PTC is also participating in The International Symposium on Mixed and Augmented Reality (ISMAR), which runs in conjunction with AWE Europe, in booth 405.
In line with the data and findings of the Aberdeen report, PTC has experienced substantial growth and adoption across its dedicated AR business unit. Over 60,000 commercial AR apps have been deployed with PTC’s Vuforia® Engine. In addition, more than 14,000 participants have joined PTC’s Vuforia Studio Free Trial program, providing valuable feedback on use case priorities and hardware requirements, and over 550,000 registered developers use Vuforia as their preferred platform to create AR apps.
PTC has leveraged Vuforia to expand the capabilities of its market-leading ThingWorx® Industrial Innovation Platform, enabling customers to visualize, instruct, guide, and improve interactions with physical things. Aberdeen data released today shows that Internet of Things (IoT) technology is currently a function of 82 percent of all businesses leveraging AR.
The Aberdeen report, which investigates service AR use cases of best-in-class organizations versus all other adopters, offers the following highlights:
Service organizations using AR have performed significantly better than non-users across customer retention, customer satisfaction, and year-over-year revenue improvement
The best-in-class companies have performed, on average, 25 percent better than their peers across performance measurements, including regulatory and SLA compliance
34 percent of best-in-class organizations leverage AR-powered training, 31 percent use on-site guides, and 25 percent are using AR-powered knowledge sharing
To download a copy of the full report, please visit https://www.ptc.com/en/AWE-Europe.
Harvard Business Review: “Why Every Organization Needs an AR Strategy,” authored by PTC CEO Jim Heppelmann and Harvard Professor Michael Porter
The adoption by customers of Vuforia AR solutions to date is not indicative of the amount of revenue with respect to any particular period or that customers will continue to adopt or deploy such technologies at any particular rate.
PTC helps companies around the world reinvent the way they design, manufacture, operate, and service products in and for a smart, connected world. In 1986 we revolutionized digital 3D design, and in 1998 were first to market with Internet-based product lifecycle management. Today, our leading industrial innovation platform and field-proven solutions enable you to unlock value at the convergence of the physical and digital worlds. With PTC, manufacturers and an ecosystem of partners and developers can capitalize on the promise of the Internet of Things and augmented reality technology today and drive the future of innovation.
PTC, Vuforia, ThingWorx, and the PTC logo are trademarks or registered trademarks of PTC Inc. or its subsidiaries in the United States and other countries.