Industrial internet, Industry 4.0 and Cyber-Physical Systems (CPS) can be collectively defined as industrial systems that integrate computational and physical capabilities of machines in order to provide advanced analytics and interact with humans. Industrial internet platforms allow the industrial companies to manage data, information and knowledge effectively within and between product lifecycle phases. Industrial internet platform’s openness plays a very important role in decision making related to platform selection for industrial companies. This paper focuses on various dimensions of openness and how it effects the strategy of platform owners or providers and how this strategy effects in short and long term to their end-users. In order to analyze the above Kaa IoT and PTC ThingWorx have been analyzed to understand the impact of openness dimensions on their strategy and business.