Publications
Publications
- October 2016 (Revised February 2019)
- HBS Case Collection
PTC: A Transformation to IoT
By: Rajiv Lal and Sarah McAra
Abstract
In the 2010s, PTC, a leading provider of software for discrete manufacturers, faced maturing markets and changing customer needs as smart, connected products took hold—the rise of the Internet of Things (IoT). PTC saw a first mover advantage in entering the IoT space early, and, after a series of IoT acquisitions from 2013 to 2016, emerged as a leader in IoT platforms. But in 2016, the IoT market was young and highly fragmented, and customers were hesitant to adopt IoT strategies. PTC's CEO Jim Heppelmann has to decide how to allocate resources and prioritize product development to grow the IoT platform without sacrificing the core business. He must execute PTC's IoT strategy by transforming the company's portfolio, business model, sales process, and culture.
Keywords
Internet Of Things; IoT; Smart; Connected Products; Business Organization; Transformation; Customer Relationship Management; Innovation Strategy; Technological Innovation; Leading Change; Marketing; Product Development; Service Operations; Strategy; Competition; Technology Industry
Citation
Lal, Rajiv, and Sarah McAra. "PTC: A Transformation to IoT." Harvard Business School Case 517-033, October 2016. (Revised February 2019.)