PTC Named a Leader in Gartner Magic Quadrant for Industrial IoT Platforms

Rhea-AI Summary

PTC has been recognized as a Leader in Gartner's Magic Quadrant for Industrial IoT Platforms for 2020. The company achieved this status by being positioned furthest to the right for its completeness of vision. This accolade underscores PTC's strong understanding of the Industrial IoT market and its innovative business model, which simplifies customer success. The ThingWorx platform is noted for facilitating digital transformation in industrial settings, enabling robust IoT solutions and enhancing operational performance.

Positive

• PTC named a Leader in Gartner's Magic Quadrant for Industrial IoT Platforms.
• Positioned furthest for completeness of vision, indicating strong market understanding and innovation.

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• None.

BOSTON, Nov. 3, 2020 /PRNewswire/ -- PTC (NASDAQ: PTC) today announced that it has been named a Leader by independent industry analyst firm Gartner in its Magic Quadrant for Industrial IoT Platforms¹. According to the report, PTC placed furthest to the right for its completeness of vision.

"We are very proud to be named a Leader in Gartner's Magic Quadrant for Industrial IoT Platforms," said Joe Biron, PTC.

Gartner defines the market for Industrial Internet of Things (IIoT) platforms as "a set of integrated software capabilities to improve asset management decision making and operational visibility and control for plants, infrastructure and equipment within asset-intensive industries."

Gartner's Magic Quadrant for Industrial IoT Platforms is comprised of two axes – "Ability to Execute" and "Completeness of Vision". Gartner's "Completeness of vision" evaluation criteria encompasses a company's market understanding and business model, along with its marketing, sales, offering (product), vertical/industry, innovation, and geographic strategies.

"We are very proud to be named a Leader in Gartner's Magic Quadrant for Industrial IoT Platforms," said Joe Biron, Divisional General Manager, IoT Segment, PTC. "We believe that being recognized for our 'Completeness of vision' is due to our understanding of the IIoT market, our innovation efforts, and our ability to offer a business model that makes it simple for our customers to be successful."

PTC's ThingWorx^® IIoT solutions platform offers industrial enterprises the tools to implement a complete digital transformation – from how they design and manufacture products to how they create value and engage with customers. ThingWorx provides end-to-end capabilities to connect devices and build robust IoT solutions and compelling end-user experiences that are simple to create, easy to implement, and enable companies to accelerate time-to-value.

For additional information on PTC's position within the IIoT platforms market, please access a complimentary copy of the full Magic Quadrant report here: Gartner 2020 Magic Quadrant for Industrial IoT Platforms. 

¹Gartner Magic Quadrant for Industrial IoT Platforms, Eric Goodness, Alfonso Velosa, Ted Friedman, Emil Berthelsen, Scot Kim, Peter Havart-Simkin, Katell Thielemann, 19 October 2020

Gartner Disclaimer
Gartner does not endorse any vendor, product or service depicted in its research publications, and does not advise technology users to select only those vendors with the highest ratings or other designation. Gartner research publications consist of the opinions of Gartner's research organization and should not be construed as statements of fact. Gartner disclaims all warranties, expressed or implied, with respect to this research, including any warranties of merchantability or fitness for a particular purpose.

About PTC (NASDAQ: PTC)
PTC enables global manufacturers to realize double-digit impact with software solutions that enable them to accelerate product and service innovation, improve operational efficiency, and increase workforce productivity. In combination with an extensive partner network, PTC provides customers flexibility in how its technology can be deployed to drive digital transformation – on premises, in the cloud, or via its pure SaaS platform. At PTC, we don't just imagine a better world, we enable it.

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PTC, ThingWorx, and the PTC logo are trademarks or registered trademarks of PTC Inc. and/or its subsidiaries in the United States and other countries.

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SOURCE PTC Inc.

FAQ

What recognition did PTC receive from Gartner?

PTC was named a Leader in Gartner's Magic Quadrant for Industrial IoT Platforms.

Why did PTC achieve a Leader status in the Magic Quadrant?

PTC was recognized for its completeness of vision in the Industrial IoT market.

What is the significance of the ThingWorx platform for PTC?

The ThingWorx platform is crucial for enabling digital transformation and robust IoT solutions in industrial enterprises.

When was the Gartner Magic Quadrant report released?

The Gartner Magic Quadrant for Industrial IoT Platforms was published on October 19, 2020.

How does PTC's recognition affect its business?

Being named a Leader in the Magic Quadrant enhances PTC's credibility and may attract more customers in the IIoT sector.