A host of major publicly traded companies aren’t taking the growing Internet of Things market lightly. ‘We have 28,000 customers and I haven’t met one who isn’t devising a strategy for the Internet of Things.’ said Jim Heppelmann, CEO of PTC (PTC), a Needham, Mass.-based software company that helps businesses utilize the Internet of Things, which refers to connecting various products to the Internet. Clients include General Electric (GE), Ford (F), Caterpillar (CAT), 3M (MMM), among others. ‘We have the who’s who list of major manufacturing companies globally,’ Heppelmann said. ‘It’s anybody who creates and services products at scale.’ The Internet of Things market is set to grow 19 percent in 2015, according to research firm IDC. ‘There’s hype [in the space], but there’s a lot of substance there,’ Heppelmann added. ‘If you look at what the Internet of Things means for these types of companies, it affects their competitive positioning in terms of the products they put on the market and on the other hand it affects their operations.’ He said companies execute their business plans differently once they incorporate the Internet of Things.

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