Several years ago, we embarked on a journey to transform the industrial sector by introducing the potential of the Industrial Internet. From the start, looking first across GE and then the market at large, we saw a gap. The technology to power digital transformation was taking shape, but there was a critical need for something purpose-built for the distinct needs of industry. That led us to create Predix, an application development platform specifically designed to help companies at every stage of digital transformation benefit from the Industrial Internet.
GE Digital Earns Recognition
Today, we’re proud to share that global market intelligence firm IDC has recognized GE Digital as a leader in IoT solutions in its latest report, “IDC MarketScape: IoT Platform (Software Vendors) 2017 Vendor Assessment.” I am equally proud of the team at GE Digital and across the entire GE organization, who have embraced digital transformation in a way that has allowed us to continually drive new thinking and solutions in a variety of industries, including oil and gas power and utility, transportation and healthcare.
The report, which looked at IoT platform providers across the sector, analyzed the strengths against two main categories: Capabilities and Strategy. In naming GE Digital a leader, the IDC MarketScape recognized GE’s own digital industrial transformation story, citing it as a proof point and appeal for companies that are also embarking on their own digital transformation. The IDC MarketScape also cited GE Digital’s deep portfolio of analytics tools, industrial expertise, ecosystem and customers, all of which validate the company as a trusted partner for enabling digital industrial transformation.
How We Got Here: The GE for GE Story
As one of the largest multinational industrial conglomerates in the world, we began by experimenting on ourselves. We evaluated a number of existing solutions but found none truly fit the needs of a business like ours – with large-scale industrial assets spread throughout the world. In turn, we built Predix, a platform uniquely designed for the needs of industrials and industrial assets – one that learns and grows as the Industrial Internet grows. In turn, GE Digital was born.
Since then, we have been committed to helping customers and partners realize their own digital transformation. Predix is the key enabler that helps businesses take full advantage of everything the Industrial Internet has to offer – helping move from automation to autonomous industrial systems that bring the potential to create knowledge and efficiencies and help fuel ideas and innovation.
A Partner for Digital Transformation
At GE Digital, we are laser focused on connecting machines, information and people through our Predix platform.
Core to industrial productivity are Asset Performance Management (APM). Powered by Predix, our APM portfolio allows companies to do more than simply monitor their physical assets at the convenience of their mobile devices; it creates a smart, predictive environment that can reduce downtime and fuel future innovation and drive productivity.
Transformation of the current industrial service model is another critical element of the digital industrial journey. Most companies today lack the ability to combine insights from data with actions in real time when managing and servicing assets, contributing to unplanned downtime. To give customers a path to greater productivity, GE Digital’s field service management (FSM) suite through ServiceMax helps asset intensive industries shift from a reactive break/fix service model to a predictive model to reduce cost and eliminate unplanned downtime.
Our customers are applying these solutions to accelerate their digital transformations across a variety of industries. That’s the power of Predix and the Industrial Internet.
Our Vision for the Industrial Internet
As we look out at the potential of the Industrial Internet, we know we have only scratched the surface.
Today, along with our partners and customers, we are building the tools, solutions and applications that, we believe, will help create the businesses of the future. These solutions will truly power the autonomous industrial systems, machine learning and advanced artificial intelligence that can deliver untold benefits.
But it starts with solving the challenges that customers have today, meeting those challenges head on and helping them at every step of their digital transformation.
This recognition by the IDC MarketScape as a leading IoT platform and software provider, coupled with our global customer base and deep partner ecosystem, is a testament to our proven capabilities to help businesses reach their true digital potential. And we’re just getting started.
You can learn more about our progress and the Industrial Internet by attending Minds + Machines this fall.
SOURCE: IDC MarketScape: Worldwide IoT Platforms (Software Vendors) 2017 Vendor Assessment, by Stacy Crook and Carrie MacGillivray, July, 2017 IDC #US42033517
IDC MarketScape vendor analysis model is designed to provide an overview of the competitive fitness of ICT suppliers in a given market. The research methodology utilizes a rigorous scoring methodology based on both qualitative and quantitative criteria that results in a single graphical illustration of each vendor’s position within a given market. The Capabilities score measures vendor product, go-to-market and business execution in the short-term. The Strategy score measures alignment of vendor strategies with customer requirements in a 3-5-year timeframe. Vendor market share is represented by the size of the circles. Vendor year-over-year growth rate relative to the given market is indicated by a plus, neutral or minus next to the vendor name.