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Altair Engineering Inc. SWOT and PESTLE Analysis

ID : 521628753| Feb 2023| 21 pages

COMPANY PROFILE -Altair Engineering Inc.

Business Sector :Information Technology

Operating Geography :United States, North America, Global

About Altair Engineering Inc. :

Altair Engineering Inc. is a global technology company that provides software solutions in the areas of simulation, data analytics, and high-performance computing. The company was founded in 1985 and has its headquarters in Troy, Michigan, United States. Altair provides a suite of integrated solutions for product design and development, including computer-aided design (CAD), computer-aided engineering (CAE), and computer-aided manufacturing (CAM) tools. Altair's flagship product is HyperWorks, an open-architecture simulation platform that enables customers to optimize the design of their products and make informed decisions about product development. In recent years, Altair has expanded its offerings to include data analytics and artificial intelligence solutions. The company provides software tools for data visualization, statistical analysis, machine learning, and predictive analytics. Altair has a strong global presence, with offices in North America, Europe, and Asia, and a network of partners and resellers worldwide. As of early 2023, Altair employed over 2800 people. Altair was named one of Newsweek's 2022 Most Loved Workplaces, ranking 46 out of the top 100 firms in terms of employee happiness and satisfaction at work.

Altair's mission is to explore and unleash the limitless potential of the curious and creative mind by transforming product and business decision-making through simulation, data analytics and optimization solutions. The USP of Altair is that it ranked 1st for its Generative Design and is highly known for its world-class technology.

Altair Engineering Inc. Revenue :


US$ 532.2 million - FY ending 31st December 2021
US$ 469.9 million - FY ending 31st December 2020

Competitive Analysis of Altair Engineering Inc.

SWOT
PESTLE
The SWOT analysis for Altair Engineering Inc. is presented below in a matrix followed by the detailed analysis report:
StrengthsWeaknesses
1. Unique range of advanced computational software products in 13+ categories
2. Global Presence in 25 Countries across 6 continents
3. High performing software products with revolutionary achievements
4. Strategic and consistent acquisitions of competitor companies
5. Top notch companies like Intel, NASA, BMW as its clients
1. Business expansion resulted in overall loss
2. Ineffective means to counteract offline based software piracy
OpportunitiesThreats
1. Opportunity to introduce softwares for advanced quantum computing
2. Opportunity to increase market share in aerospace industry sector.
3. Acquisition to expand product portfolio
1. Failing to keep up with technological advancement can render products obsolete
2. Piracy of softwares will negatively affect company revenues
3. Security breach and hacking could harm company in major aspects of its operations
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Detailed SWOT Analysis of Altair Engineering Inc.

Strength

This section is available only in the 'Complete Report' on purchase.

Weakness

This section is available only in the 'Complete Report' on purchase.

Opportunity

1. Opportunity to introduce software for advanced quantum computing: Altair Engineering Inc. is yet to arrive in quantum computing. Competitor firms like IBM, Google has long since started with quantum computing. Owing to the immense potential of quantum computing in many different ways, it is a great opportunity for Altair to start early in R&D in this sector. Though this is a distant future prospect, since commercial implication and revenue generation is almost zero in Quantum computing, Altair should plan and strategize this next big step. It is very likely that Quantum computing would soon be a reality and change the entire concept of IT operations and delivery.

The remaining section under "Opportunity" is available only in the 'Complete Report' on purchase.

Threat

1. Failing to keep up with technological advancement can render products obsolete: Cloud based service, like Cloud Computing, High-Performance Computing, Data Analysis etc. are services that are evolving every day. Newer are efficient microprocessors, user-friendly and customizable software interfaces, etc. that are being developed at a very fast pace. Other products like simulation softwares which are based on A.I. and Machine Learning develop new ways of processing information in the IT industry so rapidly, that even a recent efficient method become obsolete with the arrival of a faster better approach in less than a year. Since softwares are created by writing codes, which are done by programmers and data scientists, latest technological information has to available by the company. Otherwise, competitor firms would come up with better softwares in the same time period, rendering all work of the said company obsolete.

The remaining section under "Threat" is available only in the 'Complete Report' on purchase.

Major Competitors :

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References used in Altair Engineering Inc. SWOT & PESTLE Analysis Report

1. Annual Report - https://investor.altair.com/static-files/b55ccf23-c976-4fe3-bdf7-6354007c6baf
2. Altair Inspire™ Mold Revolutionizes Injection Molding - https://investor.altair.com/news-releases/news-release-details/altair-inspiretm-mold-revolutionizes-injection-molding
3. The EU has Released its First Legal Framework for AI Regulation - https://www.analyticsinsight.net/the-eu-has-released-its-first-legal-framework-for-ai-regulation/
4. Stop the emerging AI cold war - https://www.nature.com/articles/d41586-021-01244-z
The detailed complete set of references are available on request in the 'Complete report' on purchase.

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SWOT & PESTLE.com (2024). Altair Engineering Inc. SWOT and PESTLE Analysis - SWOT & PESTLE.com. [online] Available at: https://www.swotandpestle.com/altair-engineering/ [Accessed 25 Apr, 2024].

In-text: (SWOT & PESTLE.com, 2024)

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