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FORRESTER RESEARCH, INC.

(FORR)
  Report
Delayed Nasdaq  -  04:00 2022-12-09 pm EST
34.81 USD   +1.93%
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Forrester Research : Siemens MindSphere Continues Industrial IoT Momentum

02/07/2020 | 09:19am EST

The Industrial Internet of Things (IIoT) has the potential to significantly improve global productivity and growth, with Accenture estimating that this latest wave of digital innovation will accelerate the reinvention of sectors that account for almost two-thirds of world output and add US$14.2 trillion to the global economy by 2030.

As companies around the world continue to develop IIoT strategies and implement solutions, they are increasingly partnering with Siemens and choosing MindSphere, the cloud-based, open Internet of Things (IoT) operating system, as the foundation of their IIoT programs. Recently, Siemens was among the select companies that Forrester invited to participate in The Forrester Wave: Industrial IoT Software Platforms, Q4 2019 evaluation. In this evaluation, Siemens' MindSphere was cited as a Leader in Industrial IoT Software Platforms. Over the past year, MindSphere significantly grew its partner program, and announced major new customer wins and Siemens' expansion of the Mendix platform to include cloud and app services for digital engineering and IoT powered by MindSphere, which is at the heart of its powerful Xcelerator portfolio.

According to Forrester, 'MindSphere builds on Siemens' strength in industrial equipment and controllers but isn't limited to interacting with Siemens hardware. The company continues to tell a strong story about the importance of digital twin, and MindSphere plays a key part in turning this vision into something pragmatic and implementable. MindSphere is well suited to customers with existing investments in the Siemens ecosystem but also deserves the attention of any industrial company interested in tapping Siemens' deep domain knowledge and the experience it's gained from its own internal digital transformation.'

MindSphere helps companies understand data by quickly and securely connecting products, plants, systems and machines to the digital world. By unlocking the wealth of data from every machine and system in a business, MindSphere can transform this data into productive business results using powerful industrial applications with advanced analytics. MindSphere is a secure and scalable industrial end-to-end solution from asset connectivity to actionable business insights utilized to increase productivity and efficiency across the entire enterprise.

'MindSphere has continued to grow and strengthen over the past year, and we now have over 500 MindSphere partners including Microsoft, AWS, Arrow and Alibaba, which has helped fuel success in the Chinese market where we recently launched the partner program,' said Ray Kok, Senior Vice President and General Manager, Cloud Application Solutions at Siemens Digital Industries Software. 'We are proud to be recognized as a Leader within the Forrester Wave report and will work to build on this momentum to continue to help our customers achieve their goals.'

Siemens Digital Industries Software is driving transformation to enable a digital enterprise where engineering, manufacturing and electronics design meet tomorrow. The Xcelerator portfolio helps companies of all sizes create and leverage digital twins that provide organizations with new insights, opportunities and levels of automation to drive innovation.

Contact:

Natalie Navales

Tel: +1 (314) 264 8671

Email: Natalie.Navales@siemens.com

(C) 2020 Electronic News Publishing, source ENP Newswire

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Financials (USD)
Sales 2022 540 M - -
Net income 2022 25,2 M - -
Net cash 2022 99,6 M - -
P/E ratio 2022 26,6x
Yield 2022 -
Capitalization 663 M 663 M -
EV / Sales 2022 1,04x
EV / Sales 2023 0,87x
Nbr of Employees 2 004
Free-Float 46,3%
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Mean consensus OUTPERFORM
Number of Analysts 3
Last Close Price 34,81 $
Average target price 49,50 $
Spread / Average Target 42,2%
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Managers and Directors
George F. Colony Chairman & Chief Executive Officer
Chris Finn Chief Financial Officer
Steven P. Peltzman Chief Business Technology Officer
Mike Kasparian Vice President-Information Technology
Sharyn Leaver Chief Research Officer
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