A Year of Triumphs at PTC (now Velotic): Reflecting on Our IoT Achievements | Velotic
Chat with us

A Year of Triumphs at PTC (now Velotic): Reflecting on Our IoT Achievements

PTC (now Velotic) reported annual recurring revenue of $1.979B, and IoT in particular continued to thrive as the third highest bookings driver at the company.

Blog

Another year has come and gone—and what a year it has been. September 30, 2023, marked the end to PTC’s fiscal year and despite the global macroeconomic uncertainty, it was another great year. PTC reported annual recurring revenue of $1.979 billion, up 26% from the September close of fiscal year 2022, and IoT in particular continues to thrive as the third highest bookings driver at the company.

For our ThingWorx IoT Segment, 2023 was another outstanding year in which both partners and industry analysts recognized PTC as the global leader in IIoT. Microsoft named PTC its IoT and Manufacturing Partner of the Year. Nucleus Research and Quadrant´s SPARK Matrix named PTC the leader in IoT platforms and LNS Research placed PTC in the leader position for Connected Frontline Worker.

Looking back at some of the year’s most impactful highlights, we were thrilled to have brought back LiveWorx. The three-day conference and exhibition highlighted the value of digital transformation across product innovation, design, manufacturing, and field service and customer operations. For IIoT alone, there were over 30 customer presentations along with many immersive and experiential ThingWorx demos, including the Purdue Smart Factory, Harpak-Ulma packaging line, and the Vestas digital thread experience.

Most importantly, the targeted investments we've made in both the ThingWorx platform and connected solutions, are proving to expand and accelerate the value realized by our customers. These solutions, built on the ThingWorx platform, can accelerate customer value when deployed across engineering, manufacturing, and service.

Connected Manufacturing: Our continued investment in out-of-the-box solutions including Digital Performance Management, Connected Work Cell, and Asset Monitoring & Utilization has enabled systematic prioritization and boosted efficiency. It has also improved productivity and workforce engagement with maximized return on capital for our manufacturing customers.

Connected Service: We made significant progress with our remote service offerings through major advancements in our ready-to-deploy capabilities that include ThingWorx Remote Service Edge, ThingWorx Remote Access and Control, and ThingWorx File Transfer and Software Content Management, with plans underway to integrate ThingWorx and ServiceMax.

ThingWorx Platform: We made significant progress with a focus on scale, flexibility, and upgrades. From a scale perspective, we improved support for Azure PostgreSQL Flex and InFluxDB as well as subscription enhancements. Flexibility was also significantly improved with new widgets and composer updates. We continue to invest in dev ops, alerting and monitoring, which have been optimized for smoother deployments and upgrades on 9.x compared to previous versions.

In 2024, you will keep hearing a steady drumbeat from PTC on how we are expanding capabilities of our Connected Manufacturing and Connected Service solutions while ensuring the security, scalability, reliability, usability and a smooth transition to SaaS of the ThingWorx Platform.

Thank you once again for joining us in 2023 and we look forward to even more success with our customers in 2024!

Continue reading

Blog