Market Overview

Surge in Augmented Reality Adoption is Coming; 86 Percent of Respondents Expect to Go Live Within 12 Months


Rapid Development and Deployment of Augmented Reality and Industrial
IoT is a Key Finding in New Release of PTC's Industrial Innovation Series

(NASDAQ:PTC) today announced the mid-year release of its State of
Industrial Innovation report series, which portrays the development and
adoption trends of innovative companies that are building Industrial IoT
and augmented reality experiences for their end customers.

This press release features multimedia. View the full release here:

A surge in augmented reality adoption is coming, according to the newly released ‘State of Industria ...

A surge in augmented reality adoption is coming, according to the newly released ‘State of Industrial Innovation' research report from PTC. Data collected for the report shows that 86% of respondents anticipate bringing their augmented reality experiences live within 12 months. This high pace of adoption represents both an opportunity and a disruptive threat. (Graphic: Business Wire).

The inaugural ‘State of Industrial Innovation' research report was
released earlier this year as part of an ongoing series of market
research and analysis conducted by PTC. These reports explore the robust
and increasingly complex opportunities presented by the Industrial
Internet of Things (IoT) and augmented reality (AR) markets. Tapping
into PTC's 30 years of technology expertise, 30,000 global customers,
and 1,000 technology and service partners, the series delivers
actionable trends and insights across the entire Industrial IoT

Following the inaugural
and building on findings from recent quarters, the new
version includes the following major insights:

  • There is a significant market opportunity for companies looking to
    build Industrial IoT capabilities into their physical products or to
    provide Industrial IoT solutions to their end customers through new
    offerings, product interfaces, and service models.
  • Industrial enterprises are keen to improve customer experiences, open
    up new revenue streams, and disrupt competition by leveraging new
    augmented reality capabilities for product and service differentiation.

From Pilot to Production, Augmented Reality is Being Adopted Faster
than Ever

With a significant increase in AR technology
adoption, enterprises undergoing digital transformation cannot afford to
wait. Whether for enhancing products, services, and solutions offered to
customers or to drive operational excellence within the enterprise, AR
has the potential to create significant economic disruption and impact.

State of Industrial Augmented Reality: A Spotlight on Industrial
focuses on the primary use case of strategic
differentiation, which means companies who identified that they are
offering augmented reality experiences to their customers through
innovative products, services, and solutions to differentiate from
competitors. Data collected for the report showed the majority of
enterprises pursuing augmented reality are standing up projects and
experiencing ROI within 12 months. This high pace of adoption represents
both an opportunity and a disruptive threat.

"Augmented reality is happening now. Organizations are starting to jump
in with both feet, knowing that ROI can be realized quickly and the
window to leverage AR to differentiate is limited, as more companies add
AR to physical products," said Mike Campbell, executive vice president,
Augmented Reality Products, PTC. "In compiling this report, we observed
that pilots start with internal proofs of concept and quickly become
deployed across multiple areas, including customer-facing product and
service initiatives. Enterprises and consumers alike are on the verge of
truly experiencing the transformative power of augmented reality."

To download a full version of the report, please visit:

Remote Monitoring and Maintenance and Service Build Strongest Use
Cases for the Industrial IoT

"The State of the Industrial
Internet of Things: A Spotlight on Industrial Innovation" focuses on
development and adoption trends for companies building Industrial IoT
experiences to enhance customer-facing products, services, and
solutions. Companies pursuing Industrial IoT primarily for external use
tend to be much smaller in size. Large enterprises typically have large
service networks and want to improve efficiency and productivity, where
smaller companies are driven to increase market share and are
hyper-focused on product and service differentiation required to attract
and retain new customers.

Looking for early value, enterprises often pursue remote monitoring
while innovating in parallel, utilizing this new capability as the
foundation to then develop or identify new and unique use cases. The
next step is typically to layer on machine learning and predictive
analytics. This enables companies to predict failures before they happen
and help customers optimize their use of a product. These
service-oriented applications also enable discrete manufacturers to
identify service opportunities that may otherwise be directed to a third
party, conducted in-house by the customer, or addressed through
emergency customer calls and escalations.

One such example is Varian, a global manufacturer of radiation oncology
equipment, which leveraged IoT technology to increase the uptime of
their machines in the field, while greatly reducing the cost associated
with service. By deploying predictive maintenance, Varian reduced the
number of service visits per machine by 42 percent. This increased their
service margins, while guaranteeing greater up-time and higher quality
experiences for their customers.

"IoT technologies can mean the difference between success and failure
for industrial enterprises," said Joe Biron, chief technology officer,
Internet of Things, PTC. "Ultimately, companies of all sizes are finding
real business value in their IoT implementations, whether it be
internally like in manufacturing operations or externally with service
and maintenance. It is clear that enterprises must start their business
model transformation today — preempting the agility and speed of market

To download a full version of the report, please visit:

Additional Resources

PTC helps companies around the world
reinvent the way they design, manufacture, operate, and service products
in and for a smart, connected world. In 1986 we revolutionized digital
3D design, and in 1998 were first to market with Internet-based product
lifecycle management. Today, our leading industrial innovation platform
and field-proven solutions enable you to unlock value at the convergence
of the physical and digital worlds. With PTC, manufacturers and an
ecosystem of partners and developers can capitalize on the promise of
the Internet of Things and augmented reality technology today and drive
the future of innovation.

PTC and the PTC logo are trademarks or registered trademarks of PTC Inc.
or its subsidiaries in the United States and other countries.

View Comments and Join the Discussion!