BOSTON, Nov. 3, 2020 — (PRNewswire) —   PTC (NASDAQ: PTC) today announced that it has been named a Leader by independent industry analyst firm Gartner in its Magic Quadrant for Industrial IoT Platforms¹. According to the report, PTC placed furthest to the right for its completeness of vision.

Gartner defines the market for Industrial Internet of Things (IIoT) platforms as "a set of integrated software capabilities to improve asset management decision making and operational visibility and control for plants, infrastructure and equipment within asset-intensive industries."

Gartner's Magic Quadrant for Industrial IoT Platforms is comprised of two axes – "Ability to Execute" and "Completeness of Vision". Gartner's "Completeness of vision" evaluation criteria encompasses a company's market understanding and business model, along with its marketing, sales, offering (product), vertical/industry, innovation, and geographic strategies.

"We are very proud to be named a Leader in Gartner's Magic Quadrant for Industrial IoT Platforms," said Joe Biron, Divisional General Manager, IoT Segment, PTC. "We believe that being recognized for our 'Completeness of vision' is due to our understanding of the IIoT market, our innovation efforts, and our ability to offer a business model that makes it simple for our customers to be successful."

PTC's ThingWorx^® IIoT solutions platform offers industrial enterprises the tools to implement a complete digital transformation – from how they design and manufacture products to how they create value and engage with customers. ThingWorx provides end-to-end capabilities to connect devices and build robust IoT solutions and compelling end-user experiences that are simple to create, easy to implement, and enable companies to accelerate time-to-value.

For additional information on PTC's position within the IIoT platforms market, please access a complimentary copy of the full Magic Quadrant report here: Gartner 2020 Magic Quadrant for Industrial IoT Platforms. 

¹Gartner Magic Quadrant for Industrial IoT Platforms, Eric Goodness, Alfonso Velosa, Ted Friedman, Emil Berthelsen, Scot Kim, Peter Havart-Simkin, Katell Thielemann, 19 October 2020

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About PTC (NASDAQ: PTC)
PTC enables global manufacturers to realize double-digit impact with software solutions that enable them to accelerate product and service innovation, improve operational efficiency, and increase workforce productivity. In combination with an extensive partner network, PTC provides customers flexibility in how its technology can be deployed to drive digital transformation – on premises, in the cloud, or via its pure SaaS platform. At PTC, we don't just imagine a better world, we enable it.

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