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How Siemens Aims To Grab Market Share From ABB, Schneider Electric, Honeywell, Johnson Controls?

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How Siemens Aims To Grab Market Share From ABB, Schneider Electric, Honeywell, Johnson Controls?
  • Siemens AG (OTC: SIEGY) is exploring acquisitions and investments in building management software, electric vehicle charging as office blocks and apartments become more connected, and drivers switch to e-vehicles, Reuters reported.
  • Siemens aims to drive its Smart Infrastructure (SI) division by tapping its vast software base and software developers. It is also targeting the e-mobility business.
  • It has recently moved beyond its traditional customers to expand its base by €120 billion annually.
  • Siemens spent €550 million in 2021 on a software acquisition for its mobility business and $700 million on electrical component supplier Supplyframe.
  • It aims to win market share from ABB Ltd (NYSE: ABB), Schneider Electric SE (OTC: SBGSF) (OTC: SBGSY), Honeywell International Inc (NASDAQ: HON), Johnson Controls International PLC (NYSE: JCI) by growing revenue between 4% - 6% in the medium term, which is above the market rate of 3%.
  • Siemens aims to double the share of SI revenue from its digital business to nearly 10% by 2025. The diversification justifies the higher software margins.
  • Price Action: SIEGY shares closed lower by 0.01% at $84 on Monday.
 

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