Since its foundation, AVEVA has grown from a niche design software developer to a leading global industrial software company with a value of more than £10bn.

Today, AVEVA’s software drives efficiency and reduces costs for over 20,000 customers worldwide, offering a Digital Twin for the whole asset lifecycle from Engineering through to Operations and Maintenance across diverse industries worldwide.

The global industrial sector increasingly relies on data to maximize business value. But like other materials, this key industrial resource only becomes useful when it is extracted, processed, and delivered to the right people at the right time – securely and in context.

Customers persistently identify the clear need for digital solutions across both industrial operations and energy management, needs that have never been more relevant in the current economic and energy cost environment.  Schneider Electric and AVEVA together, enable a holistic approach to digital transformation across a customer’s operations. They drive step-change improvements through a reduction in energy, carbon and resource intensity, accelerating customer journeys of efficiency and sustainability.

AVEVA’s strategic focus is on becoming the number one SaaS provider of software and industrial information and evolving to a subscription-only business model. The acquisition will accelerate that transition.

Whilst AVEVA will now be wholly owned and part of Schneider Electric, intentions have been set out to preserve AVEVA’s business autonomy, future R&D investment, and enhancing the potential benefits for customers and meeting their needs faster with a stronger portfolio of solutions.

Peter Herweck, CEO of AVEVA, said: “The needs of the industrial world are becoming ever more complex.  But the opportunities to create competitive advantage, value and sustainability through digital transformation have never been more compelling.

AVEVA is now optimally placed, with the collaboration not just of Schneider Electric but all its partners, to drive innovation, change and value for its customers.  The last 50 years for AVEVA have been incredibly exciting. Thank you to all of the stakeholders who have been part of the journey so far in creating a global leader in industrial software and data. I’m convinced that through continued investment and transformation, the best is yet to come.”

Philip Aiken, Chairman of AVEVA, said: “It has been a pleasure to be Chairman of AVEVA over the last decade, as the business has grown to be a global leader in industrial software and the largest listed technology company in the UK. I’d like to thank the Board, our employees, customers, partners and investors for their contributions and support and to wish AVEVA continued success as part of Schneider Electric.”

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“AVEVA’s software has played an active role in accelerating the sustainability transition for industrial businesses for many years. At Davos this year, I look forward to meeting with government, business and civic leaders to discuss how global partnerships – including between the public and private sector – can deliver systematic and sustainable use of the world’s resources and achieve a more equitable future for us all,” said Peter Herweck.

At WEF 2023, where the theme is “Cooperation in a fragmented world”, Herweck will alongside strategic partner Schneider Electric discuss the crucial role of digital transformation for the energy transition and shed light on how the industrial metaverse will drive sustainable innovation at scale. He will also take part in meetings organized by the WEF’s First Movers Coalition and the Alliance of CEO Climate Leaders as AVEVA is a member of both initiatives.

According to the WEF’s Global Risks Report in 2022, government and business leaders rank climate action failure as the number-one long-term threat to lives and livelihoods.

“Digital transformation has repeatedly proved its role in building resilience and agility for large government organizations and small start-ups alike. But its capabilities go much further.

“We are now in the middle of what the United Nations calls a critical decade of action. To achieve a more equitable, net-zero world, we must align our business strategy to the low-carbon transition and accelerate climate action through core business activities,” Herweck said.

“Fourth Industrial Revolution technologies such as artificial intelligence, data sharing and the industrial metaverse are essential to accelerating the development of climate-positive industries of the future. AVEVA’s solutions, sited at the nexus of the digital and sustainability revolutions, are perfectly poised to deliver the low-emission value chains that are essential to capitalizing on the green growth opportunities ahead of us,” Herweck added.

The WEF will be held in Davos, Switzerland from January 16 to 20, 2023. The annual meeting brings together more than 2,000 leaders and experts from around the world with a view to improving the state of the world.

The post WEF 2023: AVEVA’s CEO, Peter Herweck, to Spotlight Benefits of Industrial Digital Transformation for a Low Carbon World appeared first on Tech | Business | Economy.