MOUNTAIN VIEW, Calif., July 1, 2015 /PRNewswire/ -- Based on its recent analysis of the engineering information management (EIM) solutions market, Frost & Sullivan recognizes AVEVA with the 2015 Global Frost & Sullivan Award for Competitive Strategy Innovation and Leadership. AVEVA was one of the early leaders in the EIM market and is currently the second-largest vendor with an 18 percent share of the fragmented market. AVEVA has set itself apart from its peers with its customer-centric strategy, global footprint, focus on innovation, vibrant partner ecosystem, and integration of its product lines with third-party solutions. Furthermore, it has ensured consistent implementation of its business plans through best-in-class processes and strategic acquisitions.
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AVEVA NET is a deep, flexible, configurable, and user-friendly solution that can work in tandem with other enterprise software, multiplying efficiencies. It serves engineering, procurement, and construction (EPC) companies and owner-operators across a number of verticals, including oil and gas; marine and power; chemicals; mining; paper and pulp; and large infrastructure projects. In terms of verticals, AVEVA serves all global top 10 companies in the energy and chemicals industries, and nine of the 10 largest global shipyards.
Being a U.K.-based company, the Europe, Middle East and Africa (EMEA) region continues to be AVEVA's largest market, but it is also well established in Asia-Pacific and the Americas. In the past year, it expanded its presence in key markets, including North America and China, while developing key strategic global accounts. With more than 1,500 employees across 30 countries, AVEVA's geographic footprint is second to none.
"Our software is used in the process, power and marine industries to design, build and operate large capital-intensive assets," said Richard Longdon, CEO, AVEVA. "Frost & Sullivan acknowledges that it is a combination of industry knowledge and solutions supported by our Digital Asset vision that sets us apart from the competition. This Digital Asset approach allows our customers to build an integrated information framework that matches the current state of the physical asset. It enables our customers to manage continual change as they deliver and operate some of the world's most complex assets. We are delighted that a respected organization such as Frost & Sullivan recognizes AVEVA ahead of our peers. Our technology leadership is thanks to the hard work of the global team at AVEVA."
"Strategic partnerships are becoming highly relevant to AVEVA, as they enable the company to penetrate newer markets and verticals," said Frost & Sullivan Industry Analyst Anisha Vinny. "A case in point is its partnership with Capgemini and the recent collaboration with the enterprise content management giant EMC to create an integrated solution for tackling complex capital projects and asset operations."
Innovation is one of the top corporate priorities at AVEVA, and it has invested $150 million in R&D efforts over the past five years. Acknowledging customer demand for convergence between engineering design solutions and information management software, it delivers an integrated solution suite. Other important areas of research for AVEVA are cloud and mobile solutions that enhance flexibility and collaboration. Its solutions give customers a high level of efficiency and reduce the amount of rework required.
The project lifecycles in AVEVA's end-user industries often span decades and, hence, it is vital for the company to offer reliable, high-quality products. The company has built a large global footprint, establishing local offices in close proximity to its customer base. In order to address each customer's unique requirements to build an optimal solution, AVEVA has accrued a deep understanding and expertise of the industries it serves. The customer purchase experience AVEVA presents is thus superior to the industry average; more than 70 percent of its business is from recurring revenues.
"Frost & Sullivan firmly believes the strength of the company's brand and its AVEVA NET solution has enabled AVEVA to be the vendor of choice of more than 3,500 customers in a number of capital-intensive industries," observed Vinny. "Overall, the company's competitive differentiation lies in the depth of its EIM solution, global footprint, vertical diversification, and the manner in which it is addressing the need for usability and integration with the rest of the supply chain."
Each year, Frost & Sullivan presents this award to the company that has leveraged competitive intelligence to successfully execute a competitive strategy that results in stronger market share, competitive brand positioning and customer satisfaction.
"With increasing globalization comes increasing competition, and the companies that thrive are the ones that are a step ahead of their competition. Frost & Sullivan is pleased to recognize AVEVA for its innovative strategies in strengthening its brand and, thereby, demand for its products in the intensely competitive EIM solutions market," said Frost & Sullivan Global President and Managing Partner Krishna Srinivasan.
Frost & Sullivan Best Practices Awards recognize companies in a variety of regional and global markets for demonstrating outstanding achievement and superior performance in areas such as leadership, technological innovation, customer service and strategic product development. Industry analysts compare market participants and measure performance through in-depth interviews, analysis and extensive secondary research to identify best practices in the industry.
For nearly 50 years, AVEVA software has enabled the creation of some of the world's most complex power and process plants, vessels and offshore facilities. AVEVA's Digital Asset approach ensures there is always an accurate digital representation of each physical asset. This allows engineering contractors, owner-operators and ship builders to work more safely, more efficiently and with less risk throughout the life cycle of their projects and operations. For further information, please visit www.aveva.com/ednotes.
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