IIoT Platform Market

PTC and SAP SE are leading players in IIoT Platform Market

The IIoT platform market is expanding rapidly with the adoption of smart devices and advanced data analytics techniques. The major growth factors for the market include increasing demand for predictive and proactive maintenance solutions, growing need for centralized monitoring Integrating IT and OT, rising adoption of next-generation technologies. MarketsandMarkets expects the IIoT platform market size to grow from USD 3.27 billion in 2018 to USD 13.82 billion by 2023, at a Compound Annual Growth Rate (CAGR) of 33.4 % during the forecast period.

Major players in the IIoT platform market include PTC (US), SAP (Germany), IBM (US), Hitachi (Japan), Accenture (US), Atos (France), Altizon (US), Flutura (US), and Oracle (US). These leading players have adopted various organic and inorganic growth strategies, such as partnerships, collaborations, agreements, mergers and acquisitions, and new product developments, to achieve growth in the IIoT platform market.

PTC is one of the leading players in the IIoT platform market. PTC’s IIoT platform ThingWorx offer clients a single source of expertise and visibility across the entire organization. In the IIoT space, PTC offers a wide range of solutions to its commercial clients. Its smart connected manufacturing suite is designed to incorporate the unified, real-time view into manufacturing operations. It also provides actionable and real-time insights for operators, supervisors, and plant managers to manage industrial operations effectively. PTC offers ThingWorx, a modular and scalable technology platform with the integration of Enterprise Manufacturing Intelligence (EMI) and has advanced capabilities for the rapid development of applications and role-based dashboards, backed up by predictive analytics and ML capabilities. The ThingWorx platform delivers cloud-based tools that allow customers to easily and more securely connect products and devices to the cloud, and intelligently process and store product and sensor data. PTC has used both organic and inorganic growth strategies to expand its business. In May 2017, PTC launched the latest version of ThingWorx, ThingWorx 8.

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In-line with the organic growth strategy, the company made enhancements to its KEPServerEX connectivity platform with the deployment of the version 6.5. Additionally, in-line with the inorganic growth strategy, in June 2018, PTC partnered with Rockwell Automation to leverage both the companies’ resources, technologies, industry expertise, and market presence.

SAP SE is another established vendor in the IIoT platform market. The company offers the SAP HANA cloud platform, a Platform-as-a-Service (PaaS) that allows deployment of IoT applications and runs them in a secure and reliable way. SAP also offers SAP Leonardo which provides technologies such as IoT, blockchain, big data, data intelligence, and ML, that work together across business processes, enterprise applications, and platforms and help organizations create end-to-end solutions for their businesses. The Leonardo IoT Bridge Suite helps to optimize performance and build asset network collaboration for better service and maintenance processes. It connects, monitors, and controls manufacturing operations and processes by integrating business and manufacturing systems to optimize production. Additionally, SAP facilitates the Industry 4.0 strategy by integrating its business and manufacturing processes to enable efficient, high-quality production on the shop floor.

SAP, in line with its inorganic strategy, in July 2017, partnered with Centrica, an energy and services company. The partnership aimed at helping customers better manage assets and energy consumption based on insights and connectivity available through IoT. Additionally, in line with its organic strategy, in June 2017, SAP launched new IoT solutions for SAP Leonardo; these include Leonardo IoT Bridge, Global Track and Trace, Edge Services, Digital Manufacturing Insight, and Asset Manager.

Related Reports:

IIoT Platform Market by Platform Type (Device Management, Application Management, Connectivity Management), Application Area (Predictive Maintenance, Business Process Optimization, Asset Tracking), Vertical, and Region - Global Forecast to 2023

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