Research firm questions GEs Predix platform

The report also said that Predix lags far behind in market penetration compared to other competing IoT software platforms like ThingWorx, Ciscos Jasper platform, and Aeris IoT platform.

The company said that it made $5 billion in software revenues in 2015, and istargeting$15 billion in software revenues in 2020.

The chief engine driving this planned growth is supposed to be the companys Predix IoT software platform that collects and analyzes data from industrial machines. GE has repeatedly talked up the platforms potential to become the go-to backend solution for industrial IoT deployments. However, a recentreportby research firm Lux Research said that GE has misrepresented how developed the Predix platform is, claiming that Predix is still at least three years away from full development.

Research firm questions GEs Predix platform

A vertical stack of three evenly spaced horizontal lines.

* Copyright © 2018 Insider Inc. All rights reserved. Registration on or use of this site constitutes acceptance of our

GE has partnered with PTC to leverage its ThingWorx industrial IoT platform to fill in the parts of Predix that havent been fully developed yet, according to the report. Thingworx provides tools that help enterprises quickly develop software applications for their connected IoT devices. Although GE said that Predix already has similar tools, Lux Research said that Predix relies completely on the ThingWorx partnership to deliver this capability.

GE is betting that it can transform itself into a major software provider by offering software tools and applications for connected industrial machines like turbines and jet engines.

However, Predix has been on the market for less than a year, and Lux Research acknowledged that the platform has very high growth potential. GE is one of the largest manufacturing providers, and can leverage its deep industry knowledge to both market and improve Predix over time. Building a true end-to-end platform for industrial IoT applications is also very difficult, and its common for IoT platform providers to partner up to deliver more software capabilities.

To receive stories like this one directly to your inbox every morning, sign up for theIoT Briefingnewsletter.Click here to learn more about how you can gain risk-free access today.

Different IoT software platform providers usually offer different capabilities like connectivity, application development, analytics, or cloud services. By partnering up, platform providers can deliver more of these capabilities to their clients. Even if Predix may require more development,GE can still leverage its deep roots in the manufacturing world and its partnership with PTC to rapidly grow its software revenues over the next few years.

The ticker and logo for General Electric Co. is displayed on a screen at the post where its traded on the floor of the NYSEThis story was delivered to BI IntelligenceIoT Briefingsubscribers. To learn more and subscribe, pleaseclick here.

Top IoT Companies to Watch & Invest In

How the IoT Will Affect Security & Privacy

GE said that the report included numerous factual errors, Fortunereported, and claimed that the report mischaracterized the relationship between GE and PTC.

Business Insider Intelligence Exclusive On Artificial Intelligence

Leave a Comment