No Longer Emerging: Industrial IoT and AR are Critical Business Investments for Organizations in 2018
February 22 2018 - 09:00AM
Business Wire
Inaugural PTC Report Series Provides
Data-Driven Visibility into the State of Rapidly Evolving
Technology
PTC (NASDAQ: PTC) today announced the release of
its bi-annual “State of Industrial Innovation” research report
series. Based on data gathered from PTC’s customer base, the series
provides a data-driven, objective view into the current state and
future plans for the adoption of Industrial Internet of Things
(IoT) and augmented reality (AR) technologies. Each report provides
a glimpse into the industries driving adoption, the functions and
use cases being deployed across the value chain, and the types of
business value generated.
“As the technologies and business models surrounding the
Industrial IoT and AR continue to mature, there are sure to be
sequential trends in adoption,” said Mike Campbell, EVP, ThingWorx
Platform, PTC. “PTC’s combination of market experience and access
to an extensive volume of adoption data enable a truly
comprehensive view of the state of these rapidly evolving
markets.”
As cited in “The State of the Industrial Internet of Things” and
“The State of Industrial Augmented Reality” reports, Industrial IoT
and AR are no longer just emerging technologies to watch. Investing
in these technologies has become the critical strategy for many
organizations in 2018, particularly those in industries that have
complex manufacturing and operational processes. Of PTC customers
that have adopted Industrial IoT or AR technologies, 83 percent
using Industrial IoT and 85 percent using AR had already
transitioned, or plan to transition, their deployments to
full-scale production environments within the next 12 months.
Highlights from the reports include:
The State of the Industrial Internet of Things1.
Industrial IoT adoption is currently dominated by large product
manufacturers in industries such as industrial products (25
percent), electronic and high-tech (22 percent) automotive (13
percent), and aerospace and defense (11 percent).2. The economic
potential of the Industrial IoT has garnered the attention of the
international communities and led to global initiatives aimed at
fostering the growth of Industrial IoT worldwide.3. A majority of
applications in use today apply to manufacturing and operations (48
percent), where the data collected can be used to refine processes,
predict maintenance requirements, and increase overall operational
effectiveness.4. The Industrial IoT is no longer an emerging
technology - it has arrived. Industrial IoT deployments are in
production today, across functions from product development through
manufacturing and service.
The State of Industrial Augmented Reality1. Industries
such as industrial products (21 percent), automotive (11 percent),
and aerospace and defense (8 percent) are leading the way in early
AR adoption.2. AR has broad applicability to all functions of the
value chain, and especially service (19 percent) and manufacturing
(18 percent).3. The application of AR to serve as a powerful
instruction and guidance tool is providing an entry point for many
organizations, particularly those industries that are defined by
hundreds of vital processes, such as real-time monitoring and
increasing overall equipment effectiveness (OEE).4. AR adoption is
reaching a critical tipping point, spurred on by massive
investments into the underlying hardware and software technologies
that are enabling a rapid transition of pilot projects into full
production environments.
To learn more about how the Industrial IoT and AR are impacting
industries, download both “The State of the Industrial Internet of
Things” and “The State of Industrial Augmented Reality”
reports.
Additional Resources
- The State of Industrial Innovation
Research Series
- Harvard Business Review: “Why Every
Organization Needs an AR Strategy,” authored by PTC CEO Jim
Heppelmann and Harvard Professor Michael Porter
About PTC (NASDAQ: PTC)PTC helps companies around the
world reinvent the way they design, manufacture, operate, and
service things in and for a smart, connected world. In 1986 we
revolutionized digital 3D design, and in 1998 were first to market
with Internet-based product lifecycle management. Today, our
leading industrial innovation platform and field-proven solutions
enable you to unlock value at the convergence of the physical and
digital worlds. With PTC, manufacturers and an ecosystem of
partners and developers can capitalize on the promise of the
Internet of Things and augmented reality technology today and drive
the future of innovation.
PTC.com @PTC Blogs
PTC and the PTC logo are trademarks or registered trademarks of
PTC Inc. or its subsidiaries in the United States and other
countries.
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version on businesswire.com: http://www.businesswire.com/news/home/20180222005773/en/
PTCKelley Brescia 781-370-5462Corporate
Communicationskbrescia@ptc.com
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