Altair Engineering, Inc. Strengths, Domain Expertise, and Key Differentiators
Altair Engineering excels in engineering solutions through innovative technologies like AI and ML, enhancing product development. With vast industry experience, Altair provides tailored solutions across sectors, offering a comprehensive suite of software and services for simulation, optimization, and data analytics. Their integration of advanced AI/ML features empowers users with predictive analytics and automation, driving innovation and efficiency in engineering workflows.
Altair, an engineering software vendors, offers on-premise and on-demand engineering and design applications to more than 5,000 clients in the Aerospace, Automotive, Biomedical, Consumer Goods, Defense, Electronics, Energy, Heavy Industry and Marine verticals.
Its products portfolio includes Altair HyperWorks for rapid design exploration and decision-making. Its PBS Works provides a suite of on-demand, policy-based cloud applications for engineering and design.
Altair launched WEYV, an entertainment app that contains music, magazines and (soon) TV shows and movies all in one experience. Utilizing its valued content licensing model, Altair is now extending its reach to the consumer sector through the launch of WEYV. The WEYV subscription model follows the same premise as HyperWorks Units associated with Altair's software. WEYV Units allow access to various types of content and give users the ability to tailor their subscription to best fit their family's needs.
Altair Engineering, Inc. Recent Developments
In October 2023, Altair introduced Altair® HyperWorks® 2023, a significant advancement in computational science and artificial intelligence (AI) technology. This update streamlines workflows, enhances user experiences, and fosters innovation within Altair's renowned design and simulation platform.
In June 2021 Altair released Altair SmartWorks, its next-generation, cloud-native platform to empower augmented, data-driven decision making. SmartWorks harnesses the full power of AI, analytics, and the Internet of Things (IoT) to help organizations improve and ensure production quality, develop connected product lines, optimize maintenance schedules, and implement recurring revenue models. It also allows companies to customize marketing analytics, automated financial systems, and more.
SmartWorks is built to overcome enterprise-grade challenges. It is inherently cloud-native but can be deployed on-premises; enables organizations to govern access to data, analytics, and automation; and is built to be highly scalable and performant from day one, with the best in underlying technology components. SmartWorks provides a collaborative environment and is extensible and future-proof, designed to work with the analytics engines of today and tomorrow. By making analytics, IoT, and AI accessible for every user, SmartWorks accelerates innovation in every department across the enterprise.
In June 2020, Altair made a significant software update release. All of Altair’s software products have been updated with advancements in user experience and countless new features, including intuitive workflows that empower users to streamline product development, allowing customers to get to market faster. Altair transforms design and decision-making by applying simulation, machine learning, and optimization throughout product lifecycles. Their broad portfolio of simulation technology and patented units-based software licensing model enable Simulation-Driven Innovation for its customers.
Altair Engineering, Inc. Mergers and Acquisitions (M&A) Activities
In July 2023, Altair completed the acquisition of OmniV, a technology developed by XLDyn, a product development software company headquartered in southeast Michigan. OmniV enhances Altair's capabilities in open model-based systems engineering (MBSE), enabling streamlined development, integration, and utilization of models across various engineering domains to facilitate informed decision-making at the enterprise and program levels.
In September 2022, Altair finalized the acquisition of RapidMiner, a provider of advanced data analytics and machine learning (ML) software. This strategic addition enhances Altair's comprehensive data analytics portfolio, empowering customers with robust capabilities to analyze, transform, and automate data across desktop and cloud platforms. Altair's strengthened position enables seamless integration of RapidMiner's technology and reinforces its growth trajectory in the market.
In August 2021 Altair has acquired S-FRAME Software, a structural analysis software platform used by engineers to evaluate a structure’s ability to withstand external loads (like wind, water, and snow) and meet design code requirements around the world. For more than 30 years, high-end architectural clients have utilized Altair’s sophisticated technology – which is also used to design high-tech modern aircraft and automobiles – to develop some of the world’s most innovative and iconic structures. Utilizing S-FRAME Software’s finite element structural analysis and code support with Altair’s high-fidelity structural optimization solutions will allow architects and civil engineers to be more innovative and bring their visions to life while adhering to local code requirements.
In January 2020, Altair acquired newFASANT. Originally a spin-off from the University of Alcalá, near Madrid, newFASANT has a software portfolio containing various full-wave and high frequency asymptotic electromagnetic solvers, when combined with Altair Feko, will allow Altair to leapfrog its competition and offer advanced solutions in relevant technology areas like V2V, Doppler effects, radome analysis, periodic structures, reflectarrays, and others.
Altair Engineering, Inc. Customers in ARTW Customer Database
Leveraging a rigorous data-centric research methodology, APPS RUN THE WORLD asks the simple question: Who’s buying Altair Engineering, Inc. applications and why? And we provide the answers – supported by decades of research – to our clients around the world. Our Customer database has over 100 data fields that detail company usage of Altair Engineering, Inc. and other enterprise apps by function, customer size, industry, location, implementation status, partner involvement, Line of Business Key Stakeholders and IT decision makers contact details. List of Verified Altair HyperWorks On Demand, Altair PBS Cloud customers.
Altair Engineering, Inc. Overview
1820 E. Big Beaver Road
Troy, MI, 48083, United States
1 248-614-2400
https://www.altair.com/
Ownership: - NASDAQ: ALTR
Number of Employees: 3200
Key Verticals: Aerospace and Defense, Automotive, Banking and Financial Services, Communications, Construction, Consumer Packaged Goods, Distribution, Federal Government, State and Local Government, Public Safety, Healthcare, Life Sciences, Manufacturing, Oil and Gas, Chemicals, Professional Services, Transportation, Utilities,
Altair Engineering, Inc. Key Enterprise and Cloud Applications
Altair HyperWorks On Demand, Altair PBS Cloud
Altair Engineering, Inc. Revenues, $M:
| Type/Year | 2022 | 2023 | YoY Growth, % |
|---|---|---|---|
| Total Revenues, $M | Subscribe | Subscribe | Subscribe |
| Enterprise Applications Revenues, $M | Subscribe | Subscribe | Subscribe |
| Cloud Applications Revenues, $M | Subscribe | Subscribe | Subscribe |
* Enterprise Applications Revenues = License + Support & Maintenance + SaaS
** All revenue figures are estimates based on public records, Cloud and Non-Cloud business models in Apps Run The World's vendor database, and annual survey results including vendor feedback.
Altair Engineering, Inc. Revenue Breakdown By Type, $M:
Altair Engineering, Inc. Enterprise Applications Revenues By Functional Markets, $M:
Altair Engineering, Inc. Enterprise Applications Revenues By Verticals, $M:
Altair Engineering, Inc. Revenues By Region, $M
| Region | % of Total Revenues | 2023 Total Revenues, $M | 2023 Enterprise Applications Revenues, $M | 2023 Cloud Applications Revenues, $M |
|---|---|---|---|---|
| Americas | Subscribe | Subscribe | Subscribe | Subscribe |
| EMEA | Subscribe | Subscribe | Subscribe | Subscribe |
| APAC | Subscribe | Subscribe | Subscribe | Subscribe |
| Total | Subscribe | Subscribe | Subscribe | Subscribe |
Altair Engineering, Inc. Direct vs Indirect sales
| Region | Direct Sales | Indirect Sales | Total |
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| Type % | Subscribe | Subscribe | Subscribe |
| Revenues, $M | Subscribe | Subscribe | Subscribe |
Altair Engineering, Inc. Customers - Breakdown by Geo, Size, Vertical and Product
List of Verified Altair Engineering, Inc. Customers
No. of Altair Engineering, Inc. Customers: 13000
No. of Altair Engineering, Inc. Enterprise Applications Customers: x
No. of Altair Engineering, Inc. Cloud Customers: x
No. of Altair Engineering, Inc. Cloud Subscribers: x
Altair has more than 13000 customers worldwide. The simulation, analytics, and HPC products customers are primarily large manufacturing enterprises, with a growing presence in small and mid-size companies. The data analytics products customers include banks, credit unions, health care organizations, and other financial services organizations along with finance departments across most industries including manufacturing.
Among Altair's Aerospace customers are: Airbus, BAE Systems, Bell Helicopter, Boeing, Bombardier, Cessna, EADS, Eurocopter, GE Aircraft Engine, Goodrich, Lockheed Martin, Northrop Grumman, Pratt&Whitney, Raytheon; Government&Defense customers are: Argonne National Lab, Army Research Labs, General Dynamics, Los Alamos National Lab, NASA, ORNL, Sandia National Lab, U.S. Air Force, U.S. Army RDECOM, U.S. Dept of Defense, U.S. Dept of Energy, U.S. Navy NAVSEA, U.S. Dept of Health NIH; Consumer Products customers: Adidas, Bose, Canon, Colgate Palmolive, Fisher Price, Harley Davidson, Kohler, Motorola, Nokia, Procter&Gamble, Panasonic, Samsung, Steelcase, Whirlpool; Life&Earth Sciences customers: AMGEN, Bayer, Dow, Genentech, National Cancer Institute, NCSA, NOAA, Pfizer, Protein Design Labs, Sanofi Oventis, Solexa, TGen, Weather Channel; Energy customers: AMEC NNC, Brasken, Chevron, ConocoPhillips, Gamesa, GE Energy, General Atomoics, Goldwind, JNES, Landmark, Petrobras, Schlumberger, Shell, Siemens Energy, Technip, Vestas, and many others.
Altair Engineering, Inc. Market Opportunities, M&A and Geo Expansions
In July 2020, Altair acquired S&WISE Co Ltd, a Seoul-based leading provider of polyurethane foaming simulation. The acquisition will allow Altair to offer customers the most advanced solution for polyurethane foam processing on the market. A couple of months earlier, Altair made another acquisition, WRAP Software to help plan and manage proliferating wireless communications. WRAP software is part of the Swedish company WRAP International AB, it provides spectrum management and radio network planning for civil and defense organizations.
Altair Engineering, Inc. Risks and Challenges
Altair remains entrenched in the on-premise engineering applications market and its move to the cloud is a work in progress.
Altair Engineering, Inc. Ecosystem, Partners, Resellers and SI
In February 2024, Altair welcomed Chip Colbert as Senior Director for Federal and Department of Defense (DoD) and Caroline Phares as Vice President for Healthcare and Life Sciences (HLS), enhancing Altair's focus on these key industry segments. With extensive experience, both individuals are poised to drive Altair's industry initiatives forward.
In August 2020, Altair joined the Avicenna Alliance, an international consortium committed to the use of simulation to enable faster and more efficient development of new medicine and healthcare solutions.
Altair also has a network of resellers and partners worldwide. Among its resellers are: CompMechLab, DES ART sp.z o.o., DSP SL , CYBERNETICS, Digital Commerce Technologies, Herndonwood Associates, MIratek. PBS resellers are: AKFH, ARAVision Incorp., Askanet, Acer, Bull, Bright Computing, Cray, HP, IBM, Jaryba, Penguin Computing, SGI, UNIVA, Voltaire, StackIQ, and many others. HW Resellers are: AR Technologies, Advanced Engineering, AE Solutions, Air-Think Corporation, Alpha Precision Instrumentation Corp., AraVision Incorporated, Argo Graphics, Inc., Astra Research, ATE (Advanced Technology Enterprise Ltd.), XiAn Ximing Electronic Technology Co, Ltd., Worklogix Middle East LLC and many other.
Altair Engineering, Inc. Cloud Infrastructure Insights
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Research Methodology
Data used in research reports are derived from publicly available documents, continuous surveys of applications vendors, customers, resellers, Independent Software Vendors, systems integrators and other verifiable sources.
Vendor shares and market forecast results are based on a combination of existing databases as well as demand side and supply side research conducted throughout the year with validation from vendors, customers, channel partners and documentations such as earnings releases and 10Q and 10K filings, vertical industry studies, regional and country-level statistics from public and private institutions(i.e. colleges, universities, government agencies and trade associations).
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