Based on its recent analysis of the Internet of Things (IoT) application enablement market, Frost & Sullivan recognizes ThingWorx with the 2014 Global Frost & Sullivan Award for Technology Innovation. The unique ThingWorx IoT development platform eliminates the need for complex codes to create IoT applications, which can reduce the time and cost of application development leading to faster time to market.
The ThingWorx rapid application development platform accepts data from multiple devices, protocols, and networks by providing a conversion layer that allows developers to translate the data collected from various sensors into meaningful information for diverse business applications. Some of these application areas include telematics, smart agriculture, smart homes and buildings, smart cities, connected vehicles, and connected medical devices. Additionally, ThingWorx is working to expand into emerging markets such as wearable technologies and the insurance market.
Demonstrating a strong understanding of the existing and emerging needs in the IoT space, ThingWorx has designed its solution to be compatible with its customers’ legacy technologies and systems. The ThingWorx platform offers customers flexibility by being deployable as a cloud-hosted solution, an on-premise solution, or a hybrid solution to suit individual business environments. Its flexibility and openness also support its usage across a wide variety of industry verticals, such as mining, process manufacturing, heavy machinery, public safety, as well as food and beverages.
“A key differentiating feature of the solution is the ThingWorx Mashup Builder that features a drag-and-drop interface, allowing developers to build HTML-based applications without writing complex code,” said Frost & Sullivan Program Manager Olga Yashkova-Shapiro. “The ease of application development helps even non-expert users such as business analysts to build applications 10 times faster than with traditional technologies.”
ThingWorx boasts an impressive base of customers spanning numerous industry verticals. Japan’s leading mobile service provider, NTT DOCOMO, selected the company to create its new machine-to-machine (M2M) cloud solutions. The ThingWorx platform was also chosen by RailComm, a solutions provider for freight and transit rail industries, to build its M2M and industrial Internet applications. Similarly, in 2012, OnFarm Systems, the pioneer of an IoT solution that integrates multiple agricultural hardware and data into a common platform, partnered with ThingWorx to build its integration platform.
ThingWorx is constantly expanding the platform application scope to include areas that were not previously possible. For example, its platform was used in the manufacturing environment to remotely predict the factory output levels and it was also used to build smart bridges, where sensors are embedded in concrete to monitor the structure and integrity of the bridge.
“In its continuous efforts to innovate technologies and solutions, the company introduced the industry’s first application store for IoT, the ThingWorx Marketplace,” noted Yashkova. “This solution acts as an application building tool for users, who can pick, choose, and assemble the required features and components for their specific application.”
Owing to such a strong value proposition, the ThingWorx platform remains uncontested in the IoT application enablement market, with no solution offering similar ease of development and cost-efficiency.
Each year, Frost & Sullivan presents this award to the company that has demonstrated uniqueness in developing and leveraging new technologies, which significantly impacts both the functionality and the customer value of the new products and applications. The award lauds the high R&D spend toward innovation, its relevance to the industry and the positive impact on brand perception.
Frost & Sullivan’s Best Practices Awards recognize companies in a variety of regional and global markets for outstanding achievement in areas such as leadership, technological innovation, customer service, and product development. Industry analysts compare market participants and measure performance through in-depth interviews, analysis, and extensive secondary research.
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