AVEVA, the Industrial Software Company You Should to Be Aware of

Author photo: Colin Masson
ByColin Masson
Technology Trends

Industrial Software CompanyAVEVA is an industrial software company and might not be a name that readily comes to mind for many executive teams. However, the chances are high that your engineers and production teams are already familiar with some of its brands like CAD Center, OSIsoft, SimSci, and Wonderware. These solutions have been instrumental in driving efficiency, productivity, and innovation across various sectors of industry. 

  • Cadcentre: AVEVA was originally formed in 1967 as a joint venture between the UK Atomic Energy Authority and the CAD Centre, a government-funded research institute that developed computer-aided design (CAD) software for engineering applications. Cadcentre became part of AVEVA in 2001, when the company changed its name from AEA Technology Engineering Software. 

  • Tribon Solutions: In 2004, AVEVA acquired Tribon Solutions for $35 million, adding naval architecture software for shipbuilding and marine design to its offerings. 

  • SimSci: In 2018, SimSci became part of AVEVA as part of its acquisition by Schneider Electric, adding simulation and optimization software for process design, training, and operations. 

  • Wonderware: In 2018, Wonderware became part of AVEVA as part of its acquisition by Schneider Electric, adding industrial automation software for human-machine interface (HMI), supervisory control and data acquisition (SCADA), manufacturing execution systems (MES), and more. 

  • OSIsoft: Acquired in 2020 for $5.0 billion, OSIsoft was a significant addition to AVEVA’s capabilities, particularly in operational data management. 

AVEVA has been quietly assembling an industrial software portfolio and world class ecosystem, and it's high time that CIOs and executive teams take notice. Here's why. 

Unifying Industrial Intelligence with AVEVA Connect 

AVEVA World 2023 marked a significant step forward for the company, as it unveiled a unified vision and product roadmap for AVEVA Industrial Intelligence underpinned by its industrial cloud platform AVEVA Connect. This concept aims to harness the power of data, advanced analytics, and AI to provide actionable insights and facilitate data-driven decision making. 

AVEVA's Industrial Intelligence solutions, including the OSIsoft PI system, are designed to manage and transform vast amounts of real-time operational data into valuable insights. This empowers businesses to better understand their operations, identify potential issues, and make informed decisions to enhance performance. 

Roughly 2,000 OT, IT, and ET professionals from industrial organizations around the world - fans of their industrial software brands - assembled at AVEVA World 2023 in San Francisco October 23-26, 2023 to witness a rebranding and portfolio enhancements for AVEVA Unified Engineering, AVEVA Operations Control, and new offers that include AVEVA PI Data Infrastructure, AVEVA Advanced Analytics, and new capabilities to AVEVA Connect, including AVEVA Data Hub and visualization, together with new and expanded strategic partnership to leverage Microsoft Fabric

Staking Claim to Industrial (Grade) Data Fabrics 

AVEVA doesn’t just have a vision for Industrial Intelligence, it's staking out its claim as a pioneer and leader in Industrial (Grade) Data Fabrics. Industrial Data Fabrics (IDFs) is a term coined by the ARC Advisory Group to describe an integrated data environment that connects all industrial data sources within an enterprise (and external data too!) to enable seamless data sharing and processing. 

AVEVA’s product portfolio, which includes tools for data integration, real-time data processing, and advanced analytics, positions it as a leader in the field of Industrial Data Fabrics. With a product roadmap to expand its established leadership in handling the complexities of real-time and time-series data, with asset and engineering models to create powerful digital twins, an ardent fan base, and innovative partner ecosystem, AVEVA is creating a compelling multiplier from its product portfolio. 

AVEVA’s solutions are designed to facilitate data accessibility, agility, and analytics, thereby enhancing the value derived from industrial data. Moreover, AVEVA has expanded its partnership with Microsoft to bolster its capabilities with Microsoft Fabric and Microsoft’s investments in mainstreaming AI. This collaboration aims to augment AVEVA's Industrial Data Fabric capabilities, enabling more efficient data management, improved scalability, and enterprise integration for its customers. 

Building Industrial Ecosystems 

AVEVA is a name that should be on the radar of every CIO and executive team at industrial organizations. With its unified vision for Industrial Intelligence, Industrial (Grade) Data Fabrics, and focus on building Industrial Ecosystems, AVEVA is set to redefine the future of industrial operations. It's time to acquaint yourselves with this industrial software company. 

For more information, or to contribute to Industrial AI and Industrial Data Fabrics research, please contact Colin Masson atcmasson@arcweb.com



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