GE expects Predix to push its software and solutions revenue to $15 bn by 2020
With its total portfolio of software and solutions set to deliver more than $5 billion in revenue this year with $6 billion in orders, GE has announced new products and partnerships.
With its total portfolio of software and solutions set to deliver more than $5 billion in revenue this year with $6 billion in orders, GE has announced new products and partnerships. By 2020, it expects more than $15 billion in software and solutions revenue driven by Predix -- the cloud-based platform for creating Industrial Internet applications. With the release of new software and products powered by Predix, GE is contributing towards an industrial app economy worth more than $225 billion.
Among the new innovations announced, GE unveiled its dedicated environment for industrial developers, Predix.io, which will lay the foundation for a marketplace for industrial applications. GE Predix, its developer portal and a select number of apps will be available in late 2015, increasing speed to market and enabling local development, global delivery and time-to-value for GE and its customers.
GE is converging all software offerings on Predix and commercializing Predix-based operations to drive enterprise optimization and asset performance management (APM), helping customers maximize productivity while ensuring product quality and sustainability. GE is expanding its APM suite of solutions powered by Predix.
“Digital technologies and open source software have transformed the consumer space in radical ways, but industry has been slow to adopt these new innovations,” said Bill Ruh, Chief Digital Officer of GE. “Now is the time to capitalize on the extraordinary opportunity to transform the industrial landscape by leveraging Predix to collectively build apps, which will reveal exponentially greater value than what we have seen in the consumer space.”
The Predix platform is now available externally and companies such as Boeing, Columbia Pipeline Group and BP are already utilizing it. GE expects 20,000 developers to be on Predix in the next year.