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PTC held its second LiveWorx conference this week. The attendance was significantly larger than a year ago - 2300 (2015), 350 (2014). This event was a big deal for PTC, as they are really starting to get their IoT/SLM strategy and business model rolling. If there was a primary theme for LiveWorx, it was focused on the entire IoT ecosystem and all of the technology, software and hardware, and IoT partners, suppliers, and businesses aligned with PTC; and how they, collectively, are going to exploit this market.
Jim Heppelmann, CEO of PTC, made some interesting observations in his keynote. He noted that the real emphasis was on the "Things" in the IoT. That is, it was all about the smart connected product, device, sensor, etc. and how this was going to provide the real time, real world information needed to run the IoT ecosystem. He also made the point that in the past, the digital world was distinct from the physical world, but today that is not the case. He maintained that the digital and physical worlds are totally merged. He also emphasized that IoT enables product service. Another interesting comment he made was that "the customer is the sensor on the thing", meaning that there a focus on the smart, connected consumer device/product, as well as products used in industry, transportation, and society at large.
Heppelmann also made it clear that PTC was focusing on the smart, connected product, and that PTC's design tools (CREO, etc.) are the design technologies that enable the creation of the smart, connected product. The example was the next generation hi-tech mountain bike, complete with a range of sensors and embedded intelligence to monitor, collect, and display data on all the physical functions of the bike (speed, acceleration, steering, suspension angles, pedal speed, etc.)
The aim is to create the digital twin: a virtual representation of the physical product in real time, complete with simulation and augmented reality. Analytics would play a major role in this IoT platform.
One significant acquisition announcement by PTC was ColdLight, an advanced analytics company. ColdLight offers an automated intelligence development platform based on analytics, pattern detection, simulation, and machine learning. Clearly, PTC wants its customer to develop new very smart products that can collect real-time information, learn, predict, and adapt.
A new application: ThingWorx Converge, an integrated data hub that integrates myriad manufacturing systems and processes.
Partnership with ServiceMax, a field service solutions company, will result in ServiceMax using PTC's IoT platform to integrate its field service apps.
Russ Fadel, ThingWorx President, talked about the IoT market opportunity and the successes his business unit has experienced in the last year. He stated that the current market of about 50B connected things/devices/objects will need about five million new apps. He indicated that this is where the ThingWorx platform will do business. Fadel pointed out that ThingWorx will do well in this market based on the platform's ability to execute and the completeness of the solution. In terms of these two characteristics on a quadrant scale, Fadel maintains that ThingWorx is in the upper right hand corner. Fadel also pointed out that ThingWorx has the ability to build IoT econsystems, a critical aspect of expanding the IoT market. This will be the key to user adoption, he maintains.
According to Fadel, an IoT solution needs three key characteristics:
◦Certified H/W (for connectivity)
◦Solution providers across all technology and industry areas
◦A strong partner ecosystem
The latter was a primary emphasis by PTC at this conference, pointing out all of their technology, solution, and platform partners.
For the just released ThingWorx v.6:
◦DataStax enterprise data storage SDK
◦Analytics is the core element of the ThingWorx Platform, thus the importance of the Coldlight acquisition.
Keynote co-speaker Michael Porter, Harvard B-School professor. He and Heppelmann have long term relationship (15 years). Porter provided a view of the new value chain that IoT brings to business. He provided a view of the smart, connected technology stack based on the fundamentals of analytics:
◦descriptive
◦diagnostic
◦predictive
◦prescriptive
Porter spoke about the emerging smart, connected factory, one of PTC's three market targets:
◦smart, connected products
◦smart. connected operations, e.g., smart factories
◦smart, connected systems, e.g. smart cities, farms, grids, etc.
My own observations: PTC is moving to bring some reality and clarity to the IoT market, beyond the hype, but may be somewhat over-optimistic about the market in terms of user (manufacturers) adoption. Focus is clearly on the smart connected product and building an IoT ecosystem that enables IoT going forward.
Jim Heppelmann, CEO of PTC, made some interesting observations in his keynote. He noted that the real emphasis was on the "Things" in the IoT. That is, it was all about the smart connected product, device, sensor, etc. and how this was going to provide the real time, real world information needed to run the IoT ecosystem. He also made the point that in the past, the digital world was distinct from the physical world, but today that is not the case. He maintained that the digital and physical worlds are totally merged. He also emphasized that IoT enables product service. Another interesting comment he made was that "the customer is the sensor on the thing", meaning that there a focus on the smart, connected consumer device/product, as well as products used in industry, transportation, and society at large.
Heppelmann also made it clear that PTC was focusing on the smart, connected product, and that PTC's design tools (CREO, etc.) are the design technologies that enable the creation of the smart, connected product. The example was the next generation hi-tech mountain bike, complete with a range of sensors and embedded intelligence to monitor, collect, and display data on all the physical functions of the bike (speed, acceleration, steering, suspension angles, pedal speed, etc.)
The aim is to create the digital twin: a virtual representation of the physical product in real time, complete with simulation and augmented reality. Analytics would play a major role in this IoT platform.
One significant acquisition announcement by PTC was ColdLight, an advanced analytics company. ColdLight offers an automated intelligence development platform based on analytics, pattern detection, simulation, and machine learning. Clearly, PTC wants its customer to develop new very smart products that can collect real-time information, learn, predict, and adapt.
A new application: ThingWorx Converge, an integrated data hub that integrates myriad manufacturing systems and processes.
Partnership with ServiceMax, a field service solutions company, will result in ServiceMax using PTC's IoT platform to integrate its field service apps.
Russ Fadel, ThingWorx President, talked about the IoT market opportunity and the successes his business unit has experienced in the last year. He stated that the current market of about 50B connected things/devices/objects will need about five million new apps. He indicated that this is where the ThingWorx platform will do business. Fadel pointed out that ThingWorx will do well in this market based on the platform's ability to execute and the completeness of the solution. In terms of these two characteristics on a quadrant scale, Fadel maintains that ThingWorx is in the upper right hand corner. Fadel also pointed out that ThingWorx has the ability to build IoT econsystems, a critical aspect of expanding the IoT market. This will be the key to user adoption, he maintains.
According to Fadel, an IoT solution needs three key characteristics:
◦Certified H/W (for connectivity)
◦Solution providers across all technology and industry areas
◦A strong partner ecosystem
The latter was a primary emphasis by PTC at this conference, pointing out all of their technology, solution, and platform partners.
For the just released ThingWorx v.6:
◦DataStax enterprise data storage SDK
◦Analytics is the core element of the ThingWorx Platform, thus the importance of the Coldlight acquisition.
Keynote co-speaker Michael Porter, Harvard B-School professor. He and Heppelmann have long term relationship (15 years). Porter provided a view of the new value chain that IoT brings to business. He provided a view of the smart, connected technology stack based on the fundamentals of analytics:
◦descriptive
◦diagnostic
◦predictive
◦prescriptive
Porter spoke about the emerging smart, connected factory, one of PTC's three market targets:
◦smart, connected products
◦smart. connected operations, e.g., smart factories
◦smart, connected systems, e.g. smart cities, farms, grids, etc.
My own observations: PTC is moving to bring some reality and clarity to the IoT market, beyond the hype, but may be somewhat over-optimistic about the market in terms of user (manufacturers) adoption. Focus is clearly on the smart connected product and building an IoT ecosystem that enables IoT going forward.