India to be third or fourth largest market for Siemens in next 3 years

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India to be third or fourth largest market for Siemens in next 3 years - Business Standard

Quick Summary:

Part of this transformation was the acquisition of Altair Engineering for $10.6 billion, aimed at boosting the company’s software revenue, which currently makes up only about 8 per cent of total revenue.

When asked about the rationale behind the Altair acquisition, Koerte said: “Currently, over 80 per cent of our capability is in hardware, although this is smart hardware, and about 12 per cent comes from software.

For German engineering and technology conglomerate Siemens, India is expected to be among the top three or fourth-largest markets over the next three years, overtaking Germany and France.