Application platform developer ThingWorx has expanded its leadership team in EMEA in response to what it describes as rising demand for Internet of Things services in the region.
The shake-up has seen the appointment of Thomas Svensson as senior vice president of EMEA, with Larry Terwey taking up the position of vice president.
Svensson will be responsible for driving the direct and indirect sales channel strategies and overall business development, with Terwey to support him in these efforts.
“The ThingWorx [Exton, PA, USA] business has seen strong demand and rapid growth across Europe,” said Russ Fadel, the president of ThingWorx. “This demand, combined with the market reach and financial resources of PTC, is enabling ThingWorx to accelerate the build-out of our global footprint.”
“Thomas Svensson and Larry Terwey bring exceptional executive experience with their leadership roles; I am confident they will deliver on our EMEA strategy,” he added.
ThingWorx says demand is being driven by the proliferation of smart, connected products, devices and sensors.
According to recent research from McKinsey, the Internet of Things has the potential to create an economic impact of between $2.7 trillion and $6.2 trillion annually by 2025, affecting industries including manufacturing, healthcare, telecoms, energy, agriculture and transportation.
ThingWorx says its platform offers an innovative means of rapidly developing and deploying Internet of Things applications.
It claims that its unified approach offers companies a way to innovate business processes faster than using conventional methods and tools.