PTC and OSIsoft team up for the industrial IoT

This story was delivered to BI Intelligence IoT Briefing subscribers. To learn more and subscribe, please click here.

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.

To gain insight into this emerging trend, BI Intelligence conducted an exclusive Global IoT Executive Survey on the impact of the IoT on companies around the world. The study included over 500 respondents from a wide array of industries, including manufacturing, technology, and finance, with significant numbers of C-suite and director-level respondents. 

Peter Newman, research analyst for BI Intelligence, Business Insider’s premium research service, has conducted an exclusive study with in-depth research into the field and created a detailed report on the IoT that describes the components that make up IoT ecosystem. We size the IoT market in terms of device installations and investment through 2021. And we examine the importance of IoT providers, the challenges they face, and what they do with the data they collect. Finally, we take a look at the opportunities, challenges, and barriers related to mass adoption of IoT devices among consumers, governments, and enterprises.

Here are some key takeaways from the report:

• 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.
• It highlights the opinions and experiences of IoT decision-makers on topics that include: drivers for adoption; major challenges and pain points; stages of adoption, deployment, and maturity of IoT implementations; investment in and utilization of devices, platforms, and services; the decision-making process; and forward- looking plans.

In full, the report:

• Provides a primer on the basics of the IoT ecosystem
• Offers forecasts for the IoT moving forward and highlights areas of interest in the coming years
• Looks at who is and is not adopting the IoT, and why
• Highlights drivers and challenges facing companies implementing IoT solutions

To get your copy of this invaluable guide to the IoT, choose one of these options:

1. Subscribe to an ALL-ACCESS Membership with BI Intelligence and gain immediate access to this report AND over 100 other expertly researched deep-dive reports, subscriptions to all of our daily newsletters, and much more. >> START A MEMBERSHIP
2. Purchase the report and download it immediately from our research store. >> BUY THE REPORT

The choice is yours. But however you decide to acquire this report, you’ve given yourself a powerful advantage in your understanding of the IoT.