Bentley Systems Named Top-Tier Software Vendor by APPS RUN THE WORLD in the APPS TOP 500 Market Report

Bentley Systems Strengths, Domain Expertise, and Key Differentiators

Bentley Systems is a foremost provider of infrastructure engineering software, distinguished by its commitment to delivering innovative solutions that drive global infrastructure advancements. The company's industry-leading software portfolio serves as a cornerstone for professionals and organizations across diverse sectors. These solutions are instrumental in the design, construction, and operational phases of critical infrastructure elements, including roads and bridges, rail and transit, water and wastewater, public works and utilities, buildings and campuses, mining, and industrial facilities.

Powered by the cutting-edge iTwin Platform for infrastructure digital twins, Bentley Systems' offerings include MicroStation and Bentley Open applications, providing sophisticated modeling and simulation capabilities. Furthermore, the company extends its reach with Seequent’s specialized software tailored for geoprofessionals and the Bentley Infrastructure Cloud, which integrates ProjectWise for streamlined project delivery, SYNCHRO for efficient construction management, and AssetWise for seamless asset operations. This comprehensive suite of solutions positions Bentley Systems at the forefront of the industry, addressing the intricate needs of a broad spectrum of infrastructure stakeholders.

Bentley Systems Recent Developments

In October 2024, Bentley Systems (Nasdaq: BSY) announced a strategic partnership with Google to integrate Google's high-quality geospatial content, including Photorealistic 3D Tiles, into Bentley's infrastructure engineering software and iTwin digital twin platform. This collaboration allows infrastructure professionals to design, build, and operate assets with improved real-world context and immersive 3D experiences, thereby enhancing resilience and sustainability across their projects.

In May 2023, Seequent, recognized as The Bentley Subsurface Company, unveiled Leapfrog Energy, a strategic expansion of its offerings into the energy industry. This move is positioned to address the complex challenges arising from the dynamic transition within the energy sector. Leapfrog Energy integrates Seequent's globally acclaimed geological modeling solution and geostatistical capabilities, leveraging the company's extensive expertise in geothermal, mining, civil engineering, and environmental domains. This targeted industry solution, Leapfrog Energy, facilitates a swift comprehension of subsurface properties, utilizing even limited data sets. Its applications include the identification of energy resources, assessment of ground conditions for offshore wind projects, and the identification of suitable locations for carbon capture, utilization, and storage. Seequent's foray into the energy sector through Leapfrog Energy underscores the company's commitment to delivering innovative solutions in response to the evolving needs of the industry.

Seequent also launched SLOPE3D, an advanced slope stability analysis tool designed to empower geotechnical engineers and engineering geologists in the creation of safer slope designs. Expanding on the well-established capabilities of GeoStudio's trusted 2D SLOPE/W product, SLOPE3D represents an intuitive limit equilibrium solution tailored for the comprehensive analysis of rock and soil slopes in diverse applications, including but not limited to hillslopes, open pit mines, and engineered structures such as dams and levees within mining and civil projects. This innovative tool equips professionals with the necessary insights to enhance the safety and reliability of slope designs.

Bentley Systems Mergers and Acquisitions (M&A) Activities

Bentley has consistently executed a strategic approach to acquiring and integrating specialized infrastructure engineering software businesses, totaling 36 acquisitions in the last five years. As a publicly traded entity, the company has leveraged its status to make impactful platform acquisitions, significantly enhancing both scale and platform capabilities.

Key platform acquisitions include: • Blyncsy (2023), a provider of cutting-edge artificial intelligence services tailored for departments of transportation. This strategic move is aimed at fortifying Bentley's iTwin Ventures portfolio, which places a distinct emphasis on the digital twin ecosystem. The integration of Blyncsy's breakthrough AI services is poised to enhance the capabilities supporting operations and maintenance activities within the realm of transportation infrastructure. This acquisition underscores Bentley Systems' commitment to accelerating the development and widespread adoption of highly valuable infrastructure asset analytics. • Power Line Systems (2022): This strategic acquisition focuses on the design, analysis, and management of overhead electric power transmission lines and structures. Integrated into our grid digital twin solutions, Power Line Systems completes our comprehensive portfolio, covering the entire lifecycle integration of grid infrastructure, including electrical transmission, substation, distribution assets, and communications towers. • Seequent (2021): Followed by complementary programmatic acquisitions, Seequent has empowered infrastructure digital twin capabilities. This enhancement allows for the incorporation of modeling and simulation of full subsurface depths, contributing to the advancement of infrastructure resilience and sustainability. Geoprofessionals benefit from improved insights into environmental conditions and mitigation of associated risks.

Bentley strategically engages in numerous and frequent programmatic acquisitions, often designed to "fill white space" within its ecosystem and enhance existing platform comprehensiveness. This programmatic growth is considered an integral part of the company's mainstream business performance, distinct from platform acquisitions. Over the past five years, the average annualized recurring revenues growth rate from programmatic acquisitions, measured on a constant currency basis, has been approximately 1.5%.

Recent examples of programmatic acquisitions and their purposes include: • EasyPower (2023), a leading developer of design and analysis software tools, including arc flash solutions, for electrical engineering professionals. • Vetasi (2022), acquired through Cohesive, adds the largest IBM Maximo and enterprise asset management system consultancy team across Europe, Africa, and ASEAN countries, with headquarters in the United Kingdom and operations based in Poland, Indonesia, South Africa, Spain, Ukraine, and Australia. • Adina R&D (2022): Introduction of nonlinear simulation capabilities to enhance the comprehensive modeling and simulation software portfolio for infrastructure engineering. • SPIDA Software (2021): Enrichment of grid digital twin solutions with expertise in the design, analysis, and management of utility pole systems, crucial for the "last mile" of critical infrastructure in energy and communications. • Vista Data Vision (2021): Integration of intrinsic IoT capabilities for infrastructure digital twins, enabling the incorporation of real-time sensor data and standardizing the "infrastructure IoT" ecosystem for seamless IT/OT/ET integration.g the "infrastructure IoT" ecosystem for seamless IT/OT/ET integration. • Inro (2021): Inclusion of traffic simulation software for multi-modal mobility digital twins. • Cohesive Solutions (2020): Acquired for digital integrator expertise, facilitating the convergence of digital engineering models (ET) with IT and OT for infrastructure assets in the utilities, energy, and facilities sectors. • GroupBC (2020): Addition of common data environment solutions for construction projects and infrastructure assets, federating to iTwin cloud services, thereby extending the value of project and asset information through digital twins.

Bentley Systems Customers in ARTW Customer Database

Leveraging a rigorous data-centric research methodology, APPS RUN THE WORLD asks the simple question: Who’s buying Bentley Systems 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 Bentley Systems 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 Bentley Connect, customers.

Bentley Systems Key Enterprise and Cloud Applications

Bentley Connect,

Bentley Systems Revenues, $M:

Bentley Systems Revenue Breakdown By Type, $M:

Bentley Systems Enterprise Applications Revenues By Functional Markets, $M:

Bentley Systems Enterprise Applications Revenues By Verticals, $M:

Bentley Systems Revenues By Region, $M

Bentley Systems Direct vs Indirect sales

Bentley Systems Customers - Breakdown by Geo, Size, Vertical and Product

List of Verified Bentley Systems Customers

No. of Bentley Systems Customers: 41000

No. of Bentley Systems Enterprise Applications Customers: 41000

No. of Bentley Systems Cloud Customers: x

No. of Bentley Systems Cloud Subscribers: x

Bentley Systems serves a diverse global clientele across various sectors, including transportation, energy, water, mining, and urban development. Its software solutions play a crucial role in the design, construction, and operation of critical infrastructure projects worldwide. Notable clients include Malaysia’s Mass Rapid Transit Corporation (MRTC), Doosan, the City of Dublin in Ireland, the Minnesota Department of Transportation, Laing O’Rourke, and others.

Bentley Systems Market Opportunities, M&A and Geo Expansions

Bentley Systems is well-positioned for strong growth, driven by strategic acquisitions, partnerships, and expanding digital capabilities. The acquisition of Cesium has enhanced Bentley’s 3D geospatial and digital twin technologies, while a partnership with Google brings advanced geospatial content into its infrastructure software. These moves support Bentley’s broader goal of improving infrastructure design, construction, and operation.

Bentley Systems Risks and Challenges

On July 1, 2024, Bentley Systems experienced a major leadership transition as Nicholas Cumins officially took on the role of Chief Executive Officer. Cumins brings extensive industry experience and has held key executive positions within the company; however, any change at the top can introduce a degree of strategic and operational uncertainty. This transition carries potential risks, including shifts in company priorities, changes in the dynamics of the executive team, and the challenge of maintaining organizational continuity and investor confidence. Stakeholders will be closely watching Cumins’ ability to sustain Bentley’s innovative momentum, execute its global expansion strategy, and effectively integrate recent acquisitions.

Bentley Systems Ecosystem, Partners, Resellers and SI

Bentley Systems has built a strong global ecosystem through strategic partnerships and a wide network of resellers, which enhances its infrastructure engineering software offerings. Collaborations with industry leaders such as Google and Microsoft have allowed Bentley to integrate advanced geospatial and cloud technologies into its solutions, thereby enriching digital twin capabilities and real-time analytics.

The company’s channel partner program extends across more than 50 countries, featuring notable partners like Archway Systems in North America, Planstudio in Italy, and Forefront Engineering in Nepal. These partners provide localized sales, training, and support services, ensuring that Bentley’s software solutions are effectively implemented in diverse markets. Through this expansive ecosystem, Bentley Systems delivers comprehensive infrastructure solutions to professionals around the world, facilitating the efficient design, construction, and operation of infrastructure projects.

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).

For additional information on our methodologies, here's the link: