PTC and OSIsoft team up for the industrial IoT

BI Intelligence

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PTC Technologies will work to integrate its ThingWorx IoT platform with OSIsoft’s data management application infrastructure, according to IoT Business News.

The new collaboration will let the companies offer solutions — primarily to industrial clients in sectors including manufacturing, oil and gas, and other utilities — that make use of OSIsoft’s real-time data analytics functionality in concert with the connectivity brought to industrial machinery facilitated by ThingWorx. Increased visibility into operational data generated by devices and machinery can be a key advantage for industrial companies, and IoT platforms continue to take steps to make realizing that visibility a simpler process.

A key trend BI Intelligence discussed in the IoT Platforms report is the increasing modularity of those platforms, which allows users to pick and choose what parts of a platform they want to use. The announcement from PTC and OSIsoft is a clear illustration of this. PTC’s ThingWorx platform offers solutions across the technology stack. The IoT provider can work with companies to implement all aspects of an IoT project, or to provide one or a few particular elements of that program.

In this case, PTC will leverage its experience with device connectivity and management, but companies can choose to tie that into OSIsoft’s data analysis and visualization tools. Partnerships will make IoT platforms more adaptable, providing potential clients with options that will make the expense of implementing and IoT solution more worthwhile. PTC has seen steady and generally growing revenue from its IoT group, earning over $75 million in 2016, illustrating the utility of this modular strategy.

The Internet of Things (IoT) is disrupting businesses, governments, and consumers and transforming how they interact with the world. Companies are going to spend almost $5 trillion on the IoT in the next five years — and the proliferation of connected devices and massive increase in data has started an analytical revolution.

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We project that there will be a total of 22.5 billion IoT devices in 2021, up from 6.6 billion in 2016.
We forecast there will be $4.8 trillion in aggregate IoT investment between 2016 and 2021.
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