Aspen Technology Strengths, Domain Expertise, and Key Differentiators
Aspen Technology is a leader in asset optimization software. Its solutions address complex, industrial environments where it is critical to optimize the asset design, operation and maintenance lifecycle. AspenTech uniquely combines decades of process modelling expertise with artificial intelligence. Its purpose-built software platform automates knowledge work and builds sustainable competitive advantage by delivering high returns over the entire asset lifecycle. As a result, companies in capital-intensive industries can maximize uptime and push the limits of performance, running their assets safer, greener, longer and faster.
Aspen Technology Recent Developments
The latest release, aspenONE® V12 solution includes more than 50 models, including many that provide insight into where operational efficiencies can be improved upon in support of Scope 1 and 2 CO2 emission reduction targets. The release shows a commitment to innovation with new software to jumpstart customers’ sustainability programs.
In October 2019, Aspen Technology launched Aspen Enterprise Insights, a visualization and workflow management solution that aggregates and analyzes data from across the enterprise to deliver insights and actionable information and drive better collaboration and decision-making within organizations.
Aspen Enterprise Insights visualization and workflow management solution enables capital-intensive enterprises to analyze data throughout the asset lifecycle and across the entire value chain, delivering actionable insights to multiple users to increase operational excellence In September 2018, Aspen Technology launched a comprehensive training offering designed to help customers overcome a growing knowledge gap and accelerate their ability to solve the most complex engineering and operational challenges. With rapid changes in the employment landscape, including in the energy industry, customers are increasingly looking for flexible, agile alternatives to acquire and apply the skills necessary to meet evolving market demands.
In June 2018, Aspen Technology unveiled that it delivers Industrial Internet of Things (IIoT) advanced analytics and machine learning applications on Microsoft Azure. AspenTech extends the reach of aspenONE Asset Performance Management (APM) software to new assets and data sources across the enterprise with Aspen Edge Connect and Aspen Cloud Connect software.
AspenONE Version 10.1 release, Aspen Edge Connect, and Aspen Cloud Connect capture and aggregate critical data from assets and data sources throughout the plant and across the enterprise.
Aspen Technology Mergers and Acquisitions (M&A) Activities
In October 2021, Emerson entered into agreement to acquire 55% of AspenTech's shares. The combined industrial software company will comprise Emerson's grid modernization technology and geological simulation software, and AspenTech's software offerings to mining, manufacturing, and pharmaceutical industries. The new company will retain AspenTech's name and will be led by current Chief Executive Officer Antonio Pietri. The deal is expected to be accretive to adjusted earnings after the first year, is expected to close in the second quarter of 2022.
In July 2019, Aspen Technology acquired Mnubo and Sabisu to deliver scalable AI-Driven Solutions for the smart enterprise. Mnubo enables industrial companies to assemble and deploy AI-driven IoT applications quickly, at enterprise scale. The Mnubo technology will accelerate the realization of AspenTech’s vision for the next generation of asset optimization solutions that combine deep process expertise with AI and machine learning.
Aspen Technology Customers in ARTW Customer Database
Leveraging a rigorous data-centric research methodology, APPS RUN THE WORLD asks the simple question: Who’s buying Aspen Technology 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 Aspen Technology 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 aspenONE customers.
Aspen Technology Overview
Ownership: - NASDAQ:AZPN
Number of Employees: 1897
Aspen Technology Key Enterprise and Cloud Applications
Aspen Technology Revenues, $M:
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* 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.
Aspen Technology Revenue Breakdown By Type, $M:
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Aspen Technology Enterprise Applications Revenues By Functional Markets, $M:
Aspen Technology Enterprise Applications Revenues By Verticals, $M:
Aspen Technology Revenues By Region, $M
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Aspen Technology Direct vs Indirect sales
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Aspen Technology Customers - Breakdown by Geo, Size, Vertical and Product
No. of Aspen Technology Customers: 2500
No. of Aspen Technology Enterprise Applications Customers: 2500
No. of Aspen Technology Cloud Customers: x
No. of Aspen Technology Cloud Subscribers: x
Aspen Technology has approximately 2,500 customers globally. Its customers consist of companies engaged in the process and other capital-intensive industries such as energy, chemicals, engineering, and construction, as well as pharmaceuticals, transportation, power, metals and mining, pulp and paper, and consumer packaged goods.
Among Aspen Technology customers are Air Liquid, BASF, China Petro, DOW Chemical, Marathon Oil, BP, Exxon, Bayer Tech, Pfizer, Cargill, PMEX, LG Chemicals, PIC, DuPont, Fluor, Petrobras, Shell, and others.
Aspen Technology Market Opportunities, M&A and Geo Expansions
Aspen Technology has extended Industrial AI across its leading solutions to drive higher levels of profitability and sustainability in customer operations. In addition, the Industrial AI Workbench will enable data scientists to collaborate with domain experts to develop AI apps based on enterprise-wide data.
In February 2018, Aspen Technology acquired Apex Optimisation, a European company specializing in Dynamic Optimization and Advanced Process Control. Apex’s GDOT software aligns Advanced Process Control (APC) with Planning & Scheduling, enabling unified production optimization for refineries and petrochemical companies in complex industrial environments.
Aspen Technology Risks and Challenges
The fundamentals of AspenTech applications remain unchanged and Cloud-based AspenTech is not part of the vendor’s lexicon and probably it will not be the case for years to come because of security concerns of its customers. Despite these limitations, AspenTech has revived its competitiveness after a hard fall in the mid-2000s. The challenge is whether it can use its newfound power to steer customers to greater utilization of its products.
Aspen Technology Ecosystem, Partners, Resellers and SI
In September 2020, Wood and Aspen formed a partnership that will offer Wood’s clients Aspen Mtell asset performance management (APM) technology for predictive and prescriptive maintenance.
In June 2020 Hargrove and Aspen Technology have partnered to deliver engineering services for a “Digital Twin” to better manage the operations and maintenance phase of a plant’s lifecycle. Hargrove will provide digital twin services that will rely on key technology and domain expertise from Aspen Technology. The digital twin represents a virtualized copy of the historical, current, and future behavior of the physical plant asset and the physical and chemical processes occurring within that plant. Customers can realize increased throughput and quality, lower operating costs, and increased equipment uptime.
In October 2018, Aspen Technology partnered with China National Bluestar (Group) to broaden the deployment of AspenTech’s Aspen Plus software for process simulation and Aspen DMCplus software for advanced process control company-wide. The deployment will enable Bluestar to achieve operational excellence through optimization across the asset lifecycle.
Aspen Technology Cloud Infrastructure Insights
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- Aspen Technology Public Cloud and Infrastructure (IaaS)
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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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