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PTC is an industrial software company with excellent long-term growth prospects due to the digital transformation of manufacturing. The company’s business is organized into two product groups: computer-aided design (CAD) and product lifecycle management (PLM). Both product groups have software-as-a-service (SaaS) options, and the digitalization of manufacturing and transition to cloud-based SaaS solutions are the critical growth catalysts. Digitalization involves using digital, connected technology to improve manufacturing design and processes, while cloud-based solutions allow multiple users to access and contribute to the CAD and PLM product offerings.
