In a recent benchmarking study we conducted we evaluated a range of companies developing vertical industry platforms to enable the “Internet of Things”. At a high level, these companies range in two critical dimensions: The nature of their offering and maturity of their efforts.
Johnson Controls provides a good example. JCI Panoptix, a sub-brand of Johnson Controls, offers an open platform solution on which 3rd party developers can offer SaaS solutions. The goal is to build a community of applications and developers, at least initially related JCI’s Building Automation business (it can be assumed that JCI intends to extend this model to other segments). The platform integrates data from JCI system sensors and makes that data available to the community. The platform also provides a marketplace, community and various services help create stickiness. The goal appears to be to mimic Salesforce’s success at creating a dynamic and rapidly growing platform ecosystem.
In a number of future Digital Bridge Partners posts, we will address the vertical platform space further, including more detailed discussion on the benchmark work that we conducted and select case studies. Please stay tuned.