PTC today announced that it has been named a leader in the product lifecycle management (PLM) market for its Windchill® PLM solution, according to a new evaluation from Quadrant Knowledge Solutions. In the evaluation, entitled "Market Outlook: Product Lifecycle Management (PLM), 2018-2023, Worldwide," PTC was recognized in the Quadrant SPARX Matrix for demonstrating excellence in technological capabilities and customer impact.

"PTC received strong ratings for its sophisticated technology platform, competitive differentiation strategy, application diversity, ease of deployment and use, and its overall customer impact," said Vishal Sharma, industry research manager, Quadrant Knowledge Solutions. "Based on these strong overall ratings, PTC has emerged as the clear technology leader in the global PLM market."

In the evaluation, PTC has been lauded for successfully combining core PLM capabilities with its ThingWorx® IoT technology, enabling manufacturers to connect their product's operational data to the IoT platform. This allows product planning and quality teams to monitor a product's operational performance and work to improve their product's value, quality, and usability. PTC was also praised for its introduction of ThingWorx NavigateTM suite, a group of role- and task-based applications that enable stakeholders across an organization to access PLM information from multiple sources based on user-specific needs.

Windchill was also highlighted for its integration with PTC's Vuforia® industrial augmented reality (AR) solution. Leveraging Vuforia, Windchill incorporates AR to share product designs - at full product size and in its physical context - with stakeholders to improve and accelerate the product development process.

The Quadrant SPARK Matrix evaluation examined PTC and six other vendors' performance in the categories of technology excellence and customer impact. Performance in technology excellence was measured by several parameters, including sophistication of technology, technology application diversity, scalability, competitive differentiation, and industry impact. Customer impact was measured by factors such as addressing unmet needs, product performance, ease of deployment, and customer service excellence.

Windchill, the industry-leading PLM application suite by PTC, enable users to leverage a consolidated, up-to-date digital thread of product information, including connected data. The powerful capabilities of the product allow organizations to reduce time-to-market, cut costs, and improve quality. With Windchill, users across the value chain are able to interact with data dynamically in 3D - both on a screen and through augmented reality.