Engineous Software Seizes Over 50% Market Share Worldwide
CARY, N.C.--Oct. 22, 2001--Engineous Software, provider of the award winning integration, automation, and design improvement software iSIGHT, and related services, today announced the results of a market study conducted by Daratech, Inc, a Cambridge, MA based market research and technology assessment firm (www.daratech.com).
"A study by Daratech shows Engineous Software as the clear market leader in Process Integration and Design Optimization, accounting for over half the industry's total software revenue," says Bruce Jenkins, analyst and Executive Vice President of Daratech. The company will be releasing the report in the next few weeks.
Engineous captured 55% of the total worldwide software revenue--the next closest competitor accounted for only 12%. In Japan, the most rapidly growing segment of the worldwide market, Engineous' share topped an impressive 78%. Market data was collected from a survey of companies who provide software and services primarily intended to: Automate and manage the execution of simulation codes, optimize a product design, and integrate analysis results from multiple physical domains.
Dr. Siu Tong, Chairman and Founder of Engineous, points to several factors contributing to the companies market domination. "iSIGHT is able to generate tangible annual design savings by dramatically improving the quality of product design against parameters like performance, robustness, and time-to-market. Often, in single project applications, customers generate savings that exceed five times their corporate wide investment within twelve months. In addition, iSIGHT leverages current technology investments, seamlessly integrating with all major third party CAE software and the customer's internally developed codes."
Additional survey results indicate significant short-term and long-term growth in the market. 2001 developer revenue is expected to increase by 69%. The automotive, aerospace and electronics industries are expected to lead the market growth.
"Engineous has experienced rapid growth since our founding in 1996," said Siu Tong. "We see this trend continuing as more and more companies recognize that with iSIGHT they can do a lot more, in less time, with less money."
"In our marketplace, we always have to look for new ways to stay ahead of the competition. By helping our engineers be more productive, iSIGHT helps our company be more competitive," said John Trevino, Engineering Specialist, York International.
About Engineous Software
Engineous Software, Inc. provides engineering design improvement software solutions and services. The company's flagship product, iSIGHT, enables organizations to explore more design alternatives in less time, dramatically reduce production costs, decrease time-to-market, and create innovative design alternatives.
Engineous customers include leading Fortune 500 companies such as DaimlerChrysler, General Electric, Hitachi, Ford Motor Company, UTC/Pratt & Whitney, Rolls-Royce, TRW, York International, and General Motors. Investors in the privately held company include the Intel 64 Fund, Idanta Partners, Noro-Mosely Partners, GE Investments and Wachovia Capital Associates. Founded in 1996, Engineous operates numerous sales offices in the US, as well as wholly owned subsidiaries in Japan and Europe, and branch offices in England and Korea. Visit www.engineous.com for more information.