Hexagon Strengths, Domain Expertise, and Key Differentiators
Hexagon is a global leader in digital reality solutions, combining sensor, software and autonomous technologies. It putts data to work to boost efficiency, productivity, quality and safety across industrial, manufacturing, infrastructure, public sector, and mobility applications. The technologies are shaping production and people-related ecosystems to become increasingly connected and autonomous — ensuring a scalable, sustainable future.
In June 2022, Hexagon introduced the all-new, next-generation Leica BLK360, which dramatically advances reality capture by delivering two of the most sought-after necessities: speed and efficiency.
Hexagon Geosystems launched Leica Captivate, an industry-revolutionizing software for Hexagon’s renowned high-precision measurement instruments.
Intergraph Government Solutions unveiled a comprehensive, cloud-based solution for visualizing, analyzing, and processing geospatial information. The new solution exploits geospatial data, including imagery, terrain, features, maps, and intelligence information, in a high-performing manner through a cloud-based, thin-client interface.
At the core of this new solution is Hexagon Geospatial’s industry-leading ERDAS IMAGINE, including Spatial Modeler, and GeoMedia product lines, which provide state-of-the-art geospatial algorithms for remote sensing, image processing, photogrammetry, GIS, and mapping workflows. Transformed into RESTful web services, these algorithms can be deployed on cloud platforms, such as Amazon Web Services (AWS) Public Cloud, GovCloud, and C2S, and now support advanced workflows previously only possible with thick, desktop-installed applications.
Hexagon Recent Developments
In June 2022, Hexagon unveiled Nexus, a platform to connect siloed engineering and unlock smart manufacturing innovation. It will connect different applications to form workflows, and combine technologies to develop unique solutions to engineering and manufacturing problems, from concept to delivery. It will empower cross-functional teams to leverage fragmented digital data by improving visibility and connectivity, and help them gain unprecedented insight, bring their ideas to life faster, and produce higher quality results.
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.
In June 2022, Hexagon announced that Paolo Guglielmini will succeed Ola Rollén as President and CEO of Hexagon AB, effective 31 December 2022.
In October 2021, Hexagon’s Safety, Infrastructure & Geospatial division launched Power Portfolio 2022, the latest version of its GIS, remote sensing, photogrammetry, and geospatial data management products. The Power Portfolio helps organizations collect, process, analyze and understand geospatial data and organize it into centralized libraries for easy sharing through web and mobile applications, including custom apps and solutions. The latest release increases efficiency for users of ERDAS IMAGINE, ImageStation, and GeoMedia with automated workflows and the ability to extract point clouds from larger stereo imagery files up to three times faster. GeoMedia WebMap also enhances productivity by empowering field personnel to access and edit data anywhere, anytime with new mobile capabilities.
In February 2021, Hexagon launched its new corporate identity for the Hexagon Group. The transformation of Hexagon’s identity follows a year when sustainability has risen to the top of the global agenda and companies around the world are focused on decarbonizing their operations. Hexagon’s efforts to accelerate the transition to cleaner energy have led to three significant structural changes to the Group. In 2020, Hexagon Purus was successfully launched as an independently traded zero-emission company; Agility and Mobile Pipeline were combined to become Hexagon Agility with a strong focus on renewable (natural) gas; and Digital Wave was introduced as a new business area that will digitize, connect and enable smart systems.
In June 2019, Hexagon launched HxGN OnCall, a comprehensive, modernized public safety portfolio that leverages data analytics in real-time to enhance operational awareness, increase efficiency, and optimize resources. The HxGN OnCall portfolio comprises four product suites that can be deployed together or independently: Dispatch, Analytics, Records, and Planning & Response. Together, the portfolio provides a single source of truth to enable faster response and ensure safer cities.
HxGN OnCall is the only comprehensive public safety portfolio built with the domain experience of all levels of emergency services and scale of applicability — police, fire, EMS, civil protection, major infrastructure operators, border and customs, roadside assistance, and more. Furthermore, In June, Hexagon unveiled HxGN MineProtect Operator Alertness System Light Vehicle (OAS-LV), a fatigue and distraction detection unit that continuously monitors operator alertness inside the cab of light vehicles, buses, and semi-trucks.
In October 2018, Hexagon's Safety & Infrastructure division has launched Intergraph InSight, a new suite of public safety data visualization and analytics software that supports evidence-based reporting, analysis, and decision making. It creates a single source of organizational data, which users can explore, analyze and share through interactive reports and dashboards, helping public safety agencies see their data in new ways to assess performance, better allocate resources and improve operations."
Hexagon Mergers and Acquisitions (M&A) Activities
In September 2022, Hexagon announced the acquisition of iConstruct Pty Ltd, a provider of award-winning Building Information Modelling (BIM) software used in commercial, infrastructure and industrial construction.
In July 2022, Hexagon announced the acquisition of Men at Work GmbH, a reseller of Hexagon’s VISI CAD CAM software for the mould and die sector in South-West Germany.
In April 2022, Hexagon acquired Innovatia Accelerator Inc., a developer of SaaS-based digitalisation solutions that transform operations and modernise fieldwork in the manufacturing and process industries.
In February 2022, Hexagon acquire ETQ, a provider of SaaS-based QMS (quality management system), EHS (environment, health and safety) and compliance management software.
In September 2021, Hexagon AB acquired the Jovix software and services business from Atlas RFID Solutions LLC of Birmingham, Alabama. Jovix is a material tracking software developed specifically for the construction industry, providing project decision-makers with real-time, actionable data regarding material status and location. The cloud-based and mobile configurable workflow platform offers visibility and traceability into the status and location of materials throughout the engineering, procurement, and construction (EPC) lifecycle
In July 2021, Hexagon acquired spatial mapping and visual positioning solutions company Immersal Oy. The Finish-based company’s technology is used to produce augmented reality (AR) applications. AR applications enhance real-world experiences by augmenting a user’s visual perception with the display of digital content in the physical world. The technology can save time, improve performance and reduce costs.
In July 2021, Hexagon acquired cloud technology company Infor's enterprise asset management (EAM) division in a cash and equity deal worth $2.7 billion. The deal also creates ties between Hexagon and Koch Industries - which owns Infor - through a memorandum of understanding, which will see expanded use of EAM in Koch businesses and cross-selling opportunities between customers. Infor's EAM is software used by industrial companies to track assets, digitalize maintenance operations, and improve digital operations.
In April 2021, Hexagon acquired CADLM SAS, a company focused on computer-aided engineering (CAE) with artificial intelligence (AI) and machine learning. These technologies enable simulation in product-development processes and lifecycles. The combination enables faster, more efficient simulations of dynamic, multi-physics phenomena — such as automotive crash and safety — that fully characterize and understand real-world product behavior. This insight enables engineers to explore the design more extensively and interactively, and improve next-generation products without prohibitive computing cost or time.
In December 2020, Hexagon acquired CodeCAD, a software retailer and distributor of Hexagon’s CADWorx & Analysis Solutions in Canada. The CodeCAD acquisition consolidates Hexagon’s sales and support structures in Canada. By conveying a single message to existing and new Canadian customers, Hexagon will be more efficient, increasing customer success by providing a single structure to support and service the entire solutions portfolio from Hexagon’s PPM division to customers in the country.
In August 2020 Hexagon acquired TACTICAWARE a provider of LiDAR-based 3D surveillance software used to monitor and protect critical infrastructure and buildings - from powerplants and airports to commercial and residential buildings and more. TACTICAWARE's flagship solution, Accur8vision, is a volumetric (entire space) detection security system offering 3D surveillance. Unlike conventional systems that typically only monitor perimeters, Accur8vision delivers situational awareness of an intruder's exact location, size, speed, and movement trajectory - all of which can be visualized within a 3D digital reality of the area under surveillance. LiDAR-based 3D surveillance solutions offer three-dimensional, volumetric threat detection independent of environmental and lighting conditions, reducing false alarms and enabling faster reaction to incidents.
In January 2019, Hexagon acquired Etalon, a provider of equipment calibration solutions. Etalon’s solutions continuously monitor and initiate compensation of machine tools, measuring machines, robots, and structures to ensure the dimensional accuracy of manufactured parts.
In September 2018, Hexagon acquired AutonomouStuff, one of the world’s leading suppliers of integrated autonomous vehicle solutions. AutonomouStuff will be a fully owned subsidiary of Hexagon and operate within Hexagon’s Positioning Intelligence division.
Also In 2018, Hexagon acquired SPRING Technologies, a software provider specializing in integrated solutions for optimizing the machining workflow through machine tool simulation, toolpath verification, and optimization, and machine tool management. Its solutions are in use at major OEMs and suppliers worldwide, helping streamline the manufacturing process through the optimization of machine tool performance and productivity."
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 Hexagon, customers.
Ownership: - HEXA-B
Number of Employees: 23000
Key Verticals: Aerospace and Defense, Automotive, Communication, Construction, Consumer Packaged Goods, Higher Education, Federal Government, State and Local Government, Public Safety, Healthcare, Life Sciences, Manufacturing, Oil and Gas, Chemicals, Professional Services, Retail, Transportation, Utilities,
Hexagon Key Enterprise and Cloud Applications
Hexagon 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.
Hexagon Revenue Breakdown By Type, $M:
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Hexagon Enterprise Applications Revenues By Functional Markets, $M:
Hexagon Enterprise Applications Revenues By Verticals, $M:
Hexagon Revenues By Region, $M
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Hexagon Direct vs Indirect sales
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Hexagon Customers - Breakdown by Geo, Size, Vertical and Product
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Among Hexagon customers are Changjiang Spatial Information Technology Engineering, U.S. Coast Guard Investigative Service, Eni, Fibria, Foxconn, Mecadat, Roger & Sons Concrete, Selex ES, Sinopec Engineering Co, and many others.
Hexagon Market Opportunities, M&A and Geo Expansions
In January 2022, Hexagon’s Manufacturing Intelligence division launched open innovation platform Sixth Sense that will bring together start-ups and industry-leading companies to create transformative solutions that benefit everyone. It promotes sharing resources, data and ideas to fast-track progress and solve real-world problems which address some of humanity’s greatest challenges, such as the journey to net zero. The challenge areas include Sustainability, Big Data, Machine Learning, Artificial Intelligence, Sensors and Robotics. Sixth Sense’s first themed challenge – Artificial Intelligence (AI) for sustainable Smart Manufacturing – encompasses all these areas and is also accepting dedicated applications, with start-ups encouraged to register their interest for future themed challenges and events.
In January 2022, Hexagon announced the acquisition of Minnovare, a provider of drilling technology that improves the speed, cost and accuracy of underground drilling.
In September 2021, Hexagon launched HxGN MineMeasure, a new innovation to further improve the drill and blast process with the potential to sustain mineral resources. The HxGN MineMeasure combines blast design software, high-precision drilling, blast-movement monitoring, fragmentation analysis and enterprise analytics to assist mining operations to maximise their ore recovery.
In March 2021, Hexagon’s Geospatial division launched M.App Enterprise 2021, a significant update to its platform for creating geospatial and location intelligence applications. The latest release features new browser-based 3D capabilities and enhanced visual effects, plus the ability to create and configure custom applications more easily.
In March 2020 Hexagon acquired CAEfatigue Limited, a provider of mechanical fatigue simulation solutions used to improve manufacturing product design, quality, and reliability.
Manufactured products face a multitude of stresses over their lifetime that can cause fatigue and result in everything from safety problems to structural failure. For example, a vehicle's chassis needs to be able to withstand a variety of dynamic forces - such as road roughness, vehicle speed, and movement type - over hundreds of thousands of kilometers of operation. Similarly, piping systems in industrial facilities need to endure dynamic changes in temperature, pressure, weight, and other forces over long operational lives. Fatigue analysis of a digital twin enables manufacturers and engineers to predict in-service durability and improve quality before production starts.
CAEfatigue's software suite, including its flagship product, CAEfatigue Vibration, provides industry-leading performance and accuracy using frequency-domain response, which provides a faster, more accurate, and more intuitive analysis of the qualitative behavior of systems than the time-domain alternative. Its solutions are used by global manufacturers across multiple industries, including automotive and aerospace, and are interoperable with leading computer-aided engineering (CAE) packages.
Acquisitions play a vital role in Hexagon’s growth strategy.
From 2000 to 2015, Hexagon made some 100 acquisitions, including the key strategic acquisitions of Brown & Sharpe (2001), Leica Geosystems (2005), NovAtel (2007) and Intergraph (2010), EcoSys (2015), AICON 3D Systems (2016), AutonomouStuff (2018), Guardvant (2018), SPRING Technologies (2018), Etalon (2019), AMendate (2019), AGTEK (2019), NEXTSENSE GmbH (2019), Bricsys (2019)."
Hexagon Risks and Challenges
Acquisitions and integration: An important part of Hexagon’s current and future growth strategy is to actively pursue strategic acquisitions of companies and businesses. It cannot be guaranteed, however, that Hexagon will be able to find suitable acquisition targets, nor can it be guaranteed that the necessary financing for future acquisition targets can be obtained on terms acceptable to Hexagon, or at all. A lack of acquisition financing or suitable acquisition targets may lead to a decreasing growth rate for Hexagon. Acquisitions entail risk. The acquired entities’ relations with customers, suppliers and key personnel may be negatively affected by the acquisition. There is also a risk that integration processes may prove more costly or more time consuming than estimated and that anticipated synergies in whole or in part fail to materialise. An acquisition of a company that is not conducting its business in a sustainable way or in compliance with Hexagon’s Code of Business Conduct and Ethics may have a negative impact on Hexagon’s reputation. Impact of the economy and financial markets: Hexagon engages in worldwide operations that are dependent on global economic and financial market conditions, as well as conditions that are unique to certain countries or regions. General economic and financial market conditions affect the inclination and the capabilities of Hexagon’s existing and potential customers to invest in design, measurement and visualisation technologies. Weak macroeconomic conditions globally or in part of the world may therefore result in lower market growth that falls below expectations and lower revenues for Hexagon. The ongoing Covid-19 pandemic has caused significant disruption to the global economy, including in all of the regions in which Hexagon, its suppliers, distributors, business partners and customers do business and in which Hexagon’s workforce is located. The Covid-19 pandemic and efforts to manage it, including those by governmental authorities, have had, and could continue to have, significant impacts on global markets. New variants, uncertainty about the long-term consequences of the Covid-19 pandemic for important Hexagon customer industries, and an increase of raw material and intermediate goods costs could impact Hexagon’s sales potential and cost structure. While the duration and severity of those impacts on Hexagon’s business are highly uncertain, they have had, and could continue to have, an adverse effect on the business, financial condition and results of operations in many ways. Geopolitical risks: Understanding geopolitical risk, how geography and economics influence politics and the relations between countries, is important in a world that has become more closely intertwined due to the rise of globalisation. Current geopolitical risks include the current crisis in Ukraine resulting from the invasion of the region by Russian forces and the corresponding global sanctions now facing Russian business, political and economic uncertainty surrounding the vulnerability of the interconnected global economy to pandemics and the potential for further escalation of the trade issues between the US and China. Understanding how these geopolitical risks may affect Hexagon’s organisation, operating results and strategies is critical to making accurate projections about Hexagon’s future growth and profitability. However, what impact the Ukraine crisis, pandemics and/or an escalating trade war between the US and China will have on world trade and the global markets, and the demand for Hexagon’s products, over the coming years is still fairly uncertain and will to some extent depend upon resolution of any crises and whether agreements regarding access to the markets can be settled. Competition and price pressure: Parts of Hexagon’s operation are carried out in sectors which are subject to price pressure and rapid technological change. Hexagon’s ability to compete in the market by introducing new and successful products with enhanced functionality while simultaneously cutting costs on new and existing products is of the utmost importance in order to avoid erosion of market share. Other inherent risks exist with competitors, such as consolidation or entry into Hexagon’s markets by companies with significant resources. R&D efforts are costly and new product development always entails a risk of unsuccessful product launches or commercialisation, which could have material adverse consequences on Hexagon. Further, technological innovation and changing trends, such as disruptive technologies, supply chains, new market entrants or novel business models, creates inherent risks that are difficult to foresee. Customers Hexagon’s business activities are conducted in a large number of markets with multiple customer categories. In 2021, Surveying was the single largest customer category and accounted for 20 per cent of net sales. For Hexagon, this customer category may involve certain risks as a downturn or weak development in the surveying sector can have a negative impact on Hexagon’s business. Surveying is followed by customer categories Electronics and Manufacturing with 17 per cent, Infrastructure and Construction with 15 per cent and 10 per cent and Power and Energy with 12. Changing demand of Hexagon’s customers is possible as technology needs and consumption change over time. Hexagon may face risks, including reputational risks, of expending capital and resources in generating new business in Russia while the Ukraine crisis is ongoing and/or if customers are misusing the company’s products in ways that negatively impact human rights. Further, due to the Covid-19 pandemic, delays, cancellations, or changes to user and industry conferences and other marketing events relating to Hexagon’s solutions, including its own customer and partner events, may negatively impact the ability to obtain new and retain existing customers, and effectively market Hexagon’s solutions.
Hexagon Ecosystem, Partners, Resellers and SI
During 2022 Hexagon made strategic partnership agreement with more companies such as: Centennial College, Fujitsu, Ouster, Vidizmo and The Hydrogen Utility Pty Ltd.
In September 2021, Hexagon partners with RapidSOS to provide life-saving emergency data to first responders
In May 2021, Hexagon and Plex Systems, cloud-delivered smart manufacturing solutions, established a new strategic partnership. The global partnership will enable Hexagon’s Manufacturing Intelligence division and Plex to co-sell Plex MES to Hexagon manufacturing customers, helping them to take control of the plant floor through full visibility and connectivity and realize the promise of Industry 4.0.
In June 2020 Hexagon’s Mining division and Proudfoot established a new partnership that provides the world’s mining industry leaders a unique safety-driven solution to accelerate their pursuit of zero-harm. By combining market-leading safety technology with a proven people-centric change methodology, the strategic partnership helps to de-risk mine operations, so equipment is protected, and everyone goes home safely. Hexagon and Proudfoot know firsthand that mining successfully requires a balance between safety and productivity. With so much focus on digital transformation, the combination of safety technology, and sustained adoption as enablers for productivity seeks to support all stakeholders, from mine operators to mine investors.
Hexagon Geospatial has over 150 partners in more than 30 countries: Geosystems, GEO Data Design, Omnilink, Kaliopa, dss Intelligent Business Solutions, Smartgeo, PASCO, Atheeb Intergraph Saudi, Techno Logica."
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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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