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PTC’s Internet of Things (IoT) Business Hits $100 Million

Kevin O'Brien

Kevin O’Brien

When it comes Internet of Things business development, PTC isn’t bluffing. Indeed, PTC’s¬†tools allow channel partners to develop their own IoT intellectual property, Channel Chief Kevin O’Brien claimed earlier this month.

Now, PTC is backing up those claims with signs of momentum. Indeed, the company’s IoT bookings grew 115 percent in 2016 from 2015. Moreover, PTC’s overall IoT revenue for 2016 was about $100 million, the company says.

Roughly 100 systems integrators are now part of the PTC Partner Network, including Cognizant, Deloitte, Kalypso, INFOSYS, ITC Infotech, and Tech Mahindra, the company says. Partners leverage PTC’s ThingWorx platform to develop applications in smart manufacturing, fleet management, smart energy management, and connected care, the company reports.

We’re reaching out to those partners now for more details on their IoT business models.

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