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May 10, 2015

7 key facts from LiveWorx

IoT is moving to a new era and the industry knows it.

By

After revealing new acquisitions, partnerships and IoT platforms, PTC addressed other aspects of the IoT business.

James Heppelmann, CEO of PTC made the point that "the world is making progress, but will take a while" to fully reach what IoT can offer.

CBR has compiled together the main bits of day two.

1. Standards

As the IoT technology advances, new standards are in need to be adopted by businesses and developers.

Russell Fadel, President at ThingWorx said: "Standards are important and will leg the smart home."

He added that a big strategy can only succeed if there is a standard and that ThingWorx will work to make sure their product technology will be able to cope up to a level with demand.

Mr Fadel said: "Standards are like a toothbrush, everyone needs one but nobody wants to use someone’s else’s."

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2. Investment

PTC has spent half a billion Dollars acquiring companies to add to their IoT ecosystem.

But for Mr J. Heppelmann, PTC "is having fun".

The CEO said the company has a lot of technology and that doesn’t need to buy more enterprises and start-ups.

"But we are looking at it," he added refusing to further comment.

Mr J. Heppelmann continued mentioning PTC’s exclusive IoT sales force and revealing that in the last quarter alone, the company secured 62 new customers.

3. Converge

Converge was a big topic both on day one and two of LiveWorx.

Mr J. Heppelmann said PTC "needed a converge hub" and that was why it "put ThingWorx inside Creo".

The CEO added that in this industry, companies cannot switch things around, and that the best solution is to start over.

He clarified that ThingWorx offers technology to develop and run IoT apps, while ThingWorx Converge gives integration.

Howard Heppelmann, GM at PTC added: "Converge is an extension of ThingWorx’s platform bringing to life a lot of applications."

Mr Fadel said: "We created a horizontal platform.

"Converge will help efficiency, for example, it can tell a business their machine is running 6% bellow on average compared to 1 million other machines."

4. Competition

PTC doesn’t fear competition.

Mr J. Heppelmann said: "We have the biggest sales force selling IoT in the world."

He mentioned Microsoft, saying that even though some applications might run on Azure, "Microsoft does not have a product that can stand up against ThingWorx".

Mr Fadel added to the note that "IoT offers tremendous value, and there are strategic differences between companies."

"IoT is a game changer," the President said.

5. Smart automotive

Smart cars are a trend, and PTC has got its hands on it.

The CEO said "All automotive companies I talk to have a strategy for connected cars.

"They are focusing on the cockpit of the car, but they need to look at other dimensions of the product."

Looking at current developments in the automotive industry, Mr J. Heppelmann said the way smart cars are being thought "in one hand is improving, on the other hand is disappointing."

6. Acquisition

The $100 million plus acquisition of ColdLight by PTC will improve the company’s analytics platform.

Mr J. Heppelmann said: "PTC and ColdLight focused on the ‘killer app’ service.

"The idea is to stop fixing things that break, and avoid them from actually getting broken."

Ryan Caplan, CEO of ColdLight said: "We deliver productivity, quality and probability.

"Feeds of information can help develop new and better devices improving performance."

Rob Gremley, Executive VP at PTC added: "Coldlight’s horizontal Neuron solution can democratise IoT."

7. Solutions

Mr J. Heppelmann said: "There are millions of things you can do with IoT, but there are no apps out there, it may take a decade to play on."

ThingWorx’s President, Mr Fadel, added that businesses cannot buy solutions "off the shelve", but said the company has a strategy to encourage people to build solutions with ThingWorx’s platform.

Closing the debate, Mr H. Heppelmann said: "We believe and recognise that manufacturing is the leading way for IoT with N numbers of solutions for smart cities and many other applications."

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