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

Hexagon Strengths, Domain Expertise, and Key Differentiators

Hexagon offers an unusually broad suite of solutions spanning precision measurement hardware (e.g., laser scanners, sensors), industry-specific software (CAD/CAM, GIS, asset-performance management), and cloud-native SaaS analytics platforms. This vertical integration, from data capture at the edge to advanced engineering analysis and digital-twin visualization, enables customers to deploy single-vendor “ecosystems” that reduce integration complexity and accelerate time to value.

With a growing shift toward subscription and cloud-native delivery (e.g., HxGN SDx2), Hexagon benefits from increasingly predictable, recurring revenue streams. High renewal rates, fueled by deep integration into mission-critical workflows provide stable cash flow that funds further R&D.

Hexagon Recent Developments

In early 2025, Hexagon announced it will carve out its Asset Lifecycle Intelligence (ALI) business encompassing its enterprise asset-management (HxGN EAM), quality/EHS, and geospatial software into a standalone public “NewCo.” This pure-play software and SaaS company will focus on planning, operating and maintaining critical infrastructure and industrial assets, with a data-centric strategy aimed at enhancing uptime, safety and sustainability. By separating ALI from its broader sensor hardware and autonomous-systems operations, Hexagon aims to unlock value, sharpen investment focus and provide greater market clarity for both businesses.

In June 2023, Hexagon's Manufacturing Intelligence division introduced Nexus for Developers, enabling the creation of SaaS applications for engineering and manufacturing. Additionally, Reality Cloud Studio, powered by HxDR, simplified reality capture data processing. The Asset Lifecycle Intelligence division released AcceleratorKMS 4.0, enhancing digital twin views and human interaction in the field, alongside AcceleratorLXP for improved learner experiences. Hexagon's Geosystems division launched HxGN AEC Project Viewer, a cloud-based software for project data visualization and control.

In February 2023, Hexagon's Manufacturing Intelligence division launched Nexus, its digital reality platform. Nexus leverages cloud technologies to facilitate real-time collaboration across the product lifecycle, from design and engineering to production and quality control. This enables global teams to work together efficiently, solving design and manufacturing challenges collaboratively and speeding up time to market.

In July 2022, Hexagon’s Safety, Infrastructure & Geospatial division announced the rebrand of its portfolio of infrastructure solutions to HxGN NetWorks. The new name signifies the cohesive, integrated offerings within the portfolio and symbolizes Hexagon’s continued dedication to advancing technology that supports critical infrastructure across the globe.

Hexagon Mergers and Acquisitions (M&A) Activities

To bolster its Building Information Modeling (BIM) and Virtual Design & Construction (VDC) offerings, in 2024, Hexagon acquired Voyansi, an AECO-focused provider of reality-capture services and workflow software. Voyansi’s laser-scanning and photogrammetry expertise, combined with Hexagon’s existing Geosystems reality-capture hardware allows customers in architecture, engineering and construction to generate high-fidelity 3D models and integrate them directly into digital-twin and BIM environments. This strategic move deepened Hexagon’s vertical integration in the AECO market, delivering end-to-end “scan-to-model” capabilities and reinforcing its position in smart infrastructure solutions

During the full year 2023, Hexagon acquired the following companies: LocLab, a leader in 3D digital twin content creation, Projectmates, provider of SaaS-based enterprise construction project management software, Comernal Software, a software development center, Qognify, a leading provider of physical security and enterprise incident management software solutions, Cads Additive, a provider of specialised software for metal additive manufacturing (AM), HARD-LINE, a global leader in mine automation, remote-control technology and mine production optimization.

During 2022, Hexagon acquired the following companies: Minnovare, a leading provider of drilling technology; PDSA Company LTD, a Hexagon Leica Geosystems distributor; Kasi Aviation Inc, a provider of aerial survey and mapping services; Avvir, a developer of SaaS-based construction progress monitoring solutions; ETQ, a leading provider of SaaS-based QMS software; Vero Solutions, a distributor of Hexagon’s VISI CAD CAM software; TST Tooling Software Technology LLC, a distributor of Hexagon’s VISI CAD CAM software; Men At Work GmbH, a distributor of Hexagon’s VISI CAD CAM software; CIM3, a distributor of Hexagon’s ESPRIT CAM software; Innovatia Accelerator Inc, a developer of SaaS-based digitalisation solutions in the Operations & Maintenance segment; iConstruct Pty Ltd, a provider of BIM software.

During 2021, Hexagon acquired the following companies: Jovix, a material tracking software developed specifically for the construction industry; Immersal Oy, a provider of spatial mapping and visual positioning solutions; Infor's enterprise asset management (EAM) division; CADLM SAS, a company focused on computer-aided engineering (CAE) with artificial intelligence (AI) and machine learning

Between 2018 and 2020, Hexagon strategically expanded its portfolio by acquiring AutonomouStuff and SPRING Technologies to enhance its autonomous vehicle solutions and machining workflow optimization, Etalon to provide continuous equipment calibration for dimensional accuracy, TACTICAWARE for LiDAR-based volumetric 3D surveillance security, and CodeCAD to consolidate and streamline its CADWorx & Analysis Solutions sales and support in Canada. These acquisitions have strengthened Hexagon’s capabilities across positioning intelligence, calibration, security, and customer support, enabling more efficient, integrated offerings and improved customer success worldwide.

Hexagon Customers in ARTW Customer Database

Leveraging a rigorous data-centric research methodology, APPS RUN THE WORLD asks the simple question: Who’s buying Hexagon 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 Hexagon 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 HxGN Connect, Nexus, HxGN SDx, HxDR, Xalt, HxGN AgrOn, Leica BLK360 customers.

Hexagon Key Enterprise and Cloud Applications

HxGN Connect, Nexus, HxGN SDx, HxDR, Xalt, HxGN AgrOn, Leica BLK360

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Hexagon Direct vs Indirect sales

Hexagon Customers - Breakdown by Geo, Size, Vertical and Product

List of Verified Hexagon Customers

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Between 2023 and 2025, Hexagon secured major customer wins across industries and regions, including Wison Engineering, Aker BP, Fluor, Hyundai Engineering, Petrobras, Shanghai Nuclear Engineering, Hoffman Construction, Deloitte Australia, Rozelle Interchange, CGI, Koch Ag & Energy, SOCAR Downstream, USG, SBS Transit, Vopak, Ecopetrol, Toyo Engineering, Shanghai Waigaoqiao Shipbuilding, BASF, and Sumika, demonstrating its global impact in project planning, operations, maintenance, digital twins, and sustainable manufacturing.

Since its February 2023 launch, Hexagon’s Nexus connectivity and workflow-integration platform has surpassed 30,000 registered users worldwide, with major manufacturing and infrastructure firms rapidly deploying its SaaS-based digitalization tools to streamline cross-functional collaboration

Hexagon Market Opportunities, M&A and Geo Expansions

Hexagon has strong opportunities to expand through growing demand for digital twins, AI-driven industrial automation, smart infrastructure, and ESG compliance, while its cloud-native platforms and recent acquisitions (like ETQ and Voyansi) position it well for scalable, recurring revenue growth. Emerging markets, increased investment in defense and critical infrastructure, and cross-divisional solution integration further enhance Hexagon’s ability to deliver end-to-end value across industries such as manufacturing, energy, construction, and public safety.

Hexagon Risks and Challenges

Hexagon's growth strategy relies on acquisitions, but there are risks. Finding suitable targets and securing financing can be challenging. Integration may be complex, and there's a risk of disrupting relationships with customers, suppliers, and personnel. Anticipated synergies may not materialize, and acquiring unethical businesses can harm Hexagon's reputation. To mitigate these risks, thorough due diligence, careful target assessment, and strong integration strategies are essential. Ethical conduct and sustainable practices must be maintained to safeguard Hexagon's reputation.

Hexagon Ecosystem, Partners, Resellers and SI

Hexagon has formed key strategic partnerships with global leaders such as Microsoft, Nemetschek Group, and Guidehouse to advance digital twin technology, cloud collaboration, and public sector innovation. Additional collaborations with SDI Presence, Verusen, JDC-Miller MotorSports, and Dokainish & Company enhance Hexagon’s reach in public safety, supply chain optimization, motorsports engineering, and capital project delivery, strengthening its ecosystem across industries.

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: