AVEVA today announced it has combined with Schneider Electric’s industrial software business to drive digital transformation across the asset and operational life cycle for capital-intensive industries. This unmatched, end-to-end offering unlocks the power of two industry leaders to deliver improved profitability and operational excellence to maximise return on capital.
“88% of leaders in capital-intensive industries say that digitalisation would increase their revenues*”, said Craig Hayman, Chief Executive Officer at AVEVA. “Yet less than half of these companies are actually in the process of adopting a digital strategy. This represents an incredible opportunity for AVEVA to be our customer’s digital transformation partner.”
“Digitalisation demands a fundamental rethink of the way organisations operate. They need to be confident that their technology investment will deliver a high return on capital and can lower the total cost of asset ownership. AVEVA’s combination of proven solutions, industry-specific knowledge and a global partner ecosystem will drive innovation across capital-intensive industries, as companies plan their digital transformation journey,” Mr Hayman added.
The combination brings together AVEVA’s design, engineering and construction capabilities with Schneider Electric’s industrial software business, which ranges from simulation through to real-time manufacturing operations management. It creates a global leader in engineering and industrial software, expanding the markets and industries the company serves. Customers can benefit from improved profitability, efficiency and performance.
AVEVA has over 4,400 people across 80 locations in over 40 countries. Its global headquarters is in Cambridge, UK.
Industries served includes chemical; food and beverage; infrastructure and smart cities; life sciences; mining, minerals and metals; oil and gas (upstream, mid-stream and downstream); power and utilities; shipbuilding; water and wastewater.
What the analysts say:
Monica Schnitger, Schnitger Corporation:
“The combination of AVEVA and Schneider Electric’s industrial software business brings together CAPEX and OPEX, creating a path to digitalisation from conceptual design to commissioning, and from operations back to revamps. Many industrial businesses already use software from both companies and look forward to the benefits of having these products under one developer umbrella. Adding in real-time production performance moves the industry one step closer to realising a digital asset that operates with full knowledge of its physical layout as well as the underlying physics of the process being conducted. I’m excited to see how AVEVA integrates processes, products and people.”
Craig Resnick, ARC Advisory Group:
“New technologies are accelerating the merging of the virtual design and physical equipment worlds, requiring the creation of new business models that must support the convergence IT, OT and ET to enable digital services. The convergence of solutions from both AVEVA and Schneider Electric’s industrial software business enables its customers to take full advantage of the complete spectrum of technologies and solutions needed to increase both their top and bottom lines to better thrive in an
ultra-competitive global economy.”
*Digitalisation in the process plant industries, Vanson Bourne, 2018.
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