PTC's IIoT platform 'ThingWorx' is a software platform that enables simple and rapid application development in complex and rapidly changing IoT environments, supporting inter-object connectivity, machine learning, augmented reality, and integration with device cloud. By combining these holistic IoT technology stacks, PTC helps companies securely connect their assets, develop applications quickly, and ensures that companies wanting to have a business model suited to the super-connection era can achieve sustained growth.
PTC stated that it is achieving rapid growth of 40% over last year based on its broad IIoT portfolio and is continuing double-digit growth in domestic market. In addition, 1,200 companies and 250 partners worldwide are using 'ThingWorx' as their IoT platform, and major system integrators around the world are building IoT competency centers based on ThingWorx technology. In particular, it has been used as an industrial IoT of Hyundai Electric's energy solution brand 'INTEGRICT'.
Park Hye-kyeong, Branch Manager of PTC Korea, introduced that PTC is supporting customers with the ability to accelerate their journey to customers' “Digital Transformations”, and PTC Korea was founded on November 1, 1992, so this is its 25th anniversary. Currently, PTC, which is a company with an annual sales of 1.5 ~ 2 trillion won, has a wide portfolio including CAD, CAM and PLM as well as application lifecycle management (ALM), service lifecycle management (SLM), IoT and machine learning.
In addition, PTC has consistently achieved double-digit growth, with annual average growth of 18% from 2010 to 2017. It is also classified as a leader in the global IoT platform vendor evaluation or the IoT SW platform evaluation. At the same time, it ranks #1 on IoT SW platform market, and especially in the global augmented reality platform market, VUFORIA has a share of 80%.
‘Convergence’, which links digital and reality, is introduced as a technology innovation of PTC. This helps automate the interaction process between each sides and enables smooth communication to accelerate business optimization and transformation, and IoT and AR were mentioned as the technologies for this. PTC represented industrial IoT as an 'Industrial Innovation Platform', and it introduced that 'Smart Connected Products' is the core of IIoT and digital transformation. TESLA, GE Aviation and John Deere are introduced as good examples.
PTC introduced four types of 'journeys to digital innovation' - digital engineering, manufacturing, services and retail - and recommended to progress transformation by following three stages for each type. In terms of transformation in digital engineering, based on the volatility that is led by software such as 'reconfigurable engine', PTC can afford to cope with various requirements rapidly in engineering and progressive quality control through remote upgrade or performance data monitoring at user environment.
As for transformation in manufacturing, 'Smart Factory' is a typical example, and it also has demand for expandability. Smart Factory can exchange information by connecting sensors to facility and equipment and eventually enables optimization of the factory. As for transformation in the retail, the company offers offline and digital-blended shopping experiences by applying digital technology to offline stores, and establishing ‘end-to-end’ platform that connects and integrates complicated supply chain.
As for transformation in service, Rolls-Royce and GE's aircraft engine business cases were introduced. While the engine was sold to an airline and contract or request-based maintenance was carried out in the past, the company now introduces a new business model using new technology in the form of presenting service levels and paying the corresponding costs. In addition, there are various examples of new business creation through the transformation of service, and some companies in developed countries have service-based sales of about 40%.
ICT technologies for transformation to smart and connected manufacturing include the IoT platform, machine learning and AR. Among them, the IoT platform needs ‘connection function’ to connect various devices easily and quickly, ‘analysis function’ to analyze and optimize incoming data from various devices, ‘application implementation function’ to make it easier for people to understand data, a number of endpoints’ efficient management function, and functions for user experience. Along with this, expandability and security are the basic competencies that the platform must have.
Machine learning requires a platform that can support a series of processes, which are finding patterns through vast amounts of data, identifying signs of future work and taking measures. In addition, AR expects to be able to help quick decisions in monitoring and judging data by using systems that are millions of times faster than people. Examples of utilizing these technologies include: quickly looking up information and history of machines, displaying digital forms of key parts by overlapping with real objects, informing users of necessary maintenance information in advance, predicting and recommending possible future failure.
In fact, strategic alliances of GE and PTC are introduced as examples of utilizing PTC's solutions. PTC has concluded a strategic alliance to continue to provide manufacturing solutions that can be used within GE's Brilliant Manufacturing Suite (BMS) based on the IIoT platform ThingWorx. At the second cooperation announcement, ThingWorx for Predix is presented for developing apps powered by GE Digital’s Predix. In Korea, Hyundai Electric's energy solution brand 'INTEGRICT' is based on PTC's technology. Through this, the company performs energy solution business that supports efficient energy management from production of existing power equipment to consulting and construction.
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