GE Digital Named an Asset Performance Management Software Leader Again

Rhea-AI Summary

GE Digital has been recognized as a Leader for the second consecutive year in the Verdantix Green Quadrant for APM Solutions 2022. The analysis highlighted the company's APM software as superior among competitors, achieving the highest scores in asset integrity management, reliability analysis, and maintenance optimization. A recent study showed a five-year ROI of over 290% for users of GE Digital's APM software in the Oil & Gas sector. This recognition underscores GE Digital's capabilities during the energy transition, serving over 40,000 global APM users.

Positive

• Recognized as a Leader in the Verdantix Green Quadrant for APM Solutions 2022.
• Achieved the highest scores for asset integrity management, reliability analysis, and maintenance optimization.
• Study indicates a five-year ROI of over 290% for GE Digital's APM software in Oil & Gas applications.
• Serves more than 40,000 global APM users, demonstrating strong market presence.

Negative

• None.

• Recognized as a Leader by independent industry analyst firm Verdantix in its Green Quadrant for APM Solutions 2022 report
• Comes after a commissioned study found the five-year ROI of GE Digital’s APM software to be more than 290% for Oil & Gas applications
• APM software is increasingly vital to energy companies that must maximize plant reliability and efficiency with the energy transition underway

SAN RAMON, Calif.--(BUSINESS WIRE)-- GE Digital, an energy software leader, today announced it was named a Leader for the second straight time by independent industry analyst firm Verdantix in its Green Quadrant: Asset Performance Management (APM) Solutions 2022 report. The company was recognized as a market leader among more than a dozen prominent global APM solution providers based on the technical and functional capabilities of its APM software, as well as its strategic market momentum.

”GE Digital’s credentials in the APM software space are impressive,” said Kiran Darmasseelane, Industry Analyst at Verdantix. “There’s no doubt that competition in the space is on the rise, but nevertheless, GE Digital has resolidified itself as a market leader.”

The Verdantix Green Quadrant methodology provides buyers of specific products or services with a structured assessment of comparable offerings across top vendors. Based on this year’s analysis, GE Digital received the highest score amongst all the vendors for its functional capabilities. Specific strengths highlighted were asset integrity management (top score), reliability analysis (joint top score), and maintenance optimization (top score).

Verdantix also included selection advice for buyers and recommended that GE Digital be shortlisted by energy firms seeking an APM software provider with strong IT and subject matter expertise, as well as large enterprises with sites across multiple regions. “GE Digital’s deep domain knowledge across the oil and gas and power utilities industries, its proven success supporting more than 40,000 global APM users, and the fact that it’s poised to play a key role in GE’s forthcoming energy company all make it one of the safest and most reliable choices for energy enterprises seeking a long-term digital transformation partner,” concluded Metcalfe.

This news comes on the heels of a commissioned Total Economic Impact™ study conducted by Forrester Consulting that examined the quantifiable benefits organizations are realizing using GE Digital’s APM software. The study, which was based on actual customer interviews, found that a composite oil and gas organization saw a return on their investment of 292% in five years.

“Energy companies are increasingly investing in APM software—and they need to be to maximize plant reliability and efficiency with the energy transition underway,” said Linda Rae, General Manager of GE Digital’s Power Generation and Oil & Gas business. “We’re pleased to see our solution recognized by Verdantix for the second consecutive time.”

More information about GE Digital software for the energy industry can be found here.

About GE Digital:

GE Digital, an integral part of GE Vernova, is a $1 billion software business putting data to work to accelerate a new era of energy. GE Digital has pioneered technologies like Industrial AI and Digital Twins to serve industries that matter for decarbonization like energy, manufacturing, aviation. Our software drives insights customers need to transform how they create, orchestrate, and consume energy. Over 20,000 customers world-wide use our software to fuel productivity and reliable operations while reducing costs and carbon for a more sustainable world. For more information, visit www.ge.com/digital. GE Vernova, a dynamic accelerator comprised of our Power, Renewable Energy, Digital and Energy Financial Services businesses, focused on supporting customers’ transformations during the global energy transition.

© 2022 General Electric. All rights reserved. GE, the GE logo, and associated product names are either registered trademarks or trademarks of General Electric in the United States and/or other countries. All other trademarks are the property of their respective owners.

View source version on businesswire.com: https://www.businesswire.com/news/home/20221004005047/en/

Media:

Rachael Van Reen

GE Digital

rachael.vanreen@ge.com

Source: GE Digital

FAQ

What does GE Digital's recognition in the Verdantix Green Quadrant signify for stock GE?

GE Digital was named a Leader in the Verdantix Green Quadrant for APM Solutions 2022, indicating strong capabilities in asset management, which can positively influence stock performance.

What ROI can companies expect from GE Digital's APM software?

A recent study found that users of GE Digital's APM software in Oil & Gas can expect a return on investment of over 290% over five years.

How many global users utilize GE Digital's APM software?

GE Digital's APM software is used by more than 40,000 global users, highlighting its widespread adoption and market relevance.

What are the key strengths of GE Digital's APM software?

GE Digital's APM software scored the highest in asset integrity management, reliability analysis, and maintenance optimization in the recent Verdantix assessment.

How does GE Digital position itself in the energy transition?

GE Digital is recognized for its expertise and capabilities in supporting energy companies during the transition, making it a reliable partner for digital transformation.