PTC focuses on next-generation licensing for the automotive industry
PTC, announced accelerated plans to help automotive companies convert their existing PTC software assets to subscription licenses, as well as develop next-generation vehicles using the ThingWorx® Industrial Innovation Platform as a product development/production platform.
For decades, PTC has served many of the leading companies in the industry, providing a robust product development/production system platform that has spurred innovation and improved operational efficiency. Today, the next-generation vehicle development environment is moving at unprecedented speed, and PTC believes converting to subscription licenses will enable customers to flexibly adapt to changing business requirements.
In 2002, PTC began providing Creo® 3D CAD software and Windchill® product lifecycle management (PLM) software to Toyota to enhance the company’s product development efforts, as well as improve its manufacturing efficiency and quality.
The automotive OEM has gained wide-ranging benefits, and today, Toyota has become an early adopter of subscription licenses, recently signing a conversion agreement with PTC. PTC will work with Toyota to expand the use of flexible and adaptable subscription licenses at overseas locations and group companies to be part of the foundation for the ‘Reinventing the Way We Work’ initiative for the entire Toyota Group.
PTC believes there is pressing urgency for companies to adapt to diversifying values, changing lifestyles, and challenging environmental conditions, as well as to capitalise on opportunities present in the IoT, AI, and other types of information technology.
As such, PTC will accelerate its efforts to help automotive companies with their global digitalisation strategies, offering a range of services and technology, including its award-winning ThingWorx® Industrial Innovation Platform. PTC is committed to Toyota’s success and will provide enhanced support during its evaluation of ThingWorx.
For the automotive industry, the ThingWorx Industrial Innovation Platform delivers a set of tools that simplifies system integration and enables production equipment monitoring and predictive maintenance, as well as AR capabilities. With this technology, companies are transforming their operations and capitalising on the convergence of the physical and digital worlds.
“We are delighted that ThingWorx, our Industrial Innovation Platform, is enabling world-class companies around the world to improve operational efficiency and harness the value of the Internet of Things,” said Jim Heppelmann, president and CEO, PTC. “We are committed to supporting Toyota’s ‘Making Ever-Better Cars’ initiative with PTC’s technology and resources.”