InStep Software Sees Strong Growth on Pace with Booming Industry
January 22, 2014 (Newswire) - As utilities and other organizations across the world strive to gain the highest return on their technology and equipment investments, InStep Software is continuing to experience solid growth as it meets the global demand for data historian and predictive asset analytics software. In fact, according to a recent report by MarketsandMarkets research firm, the software segment of the big data industry is expected to grow at a compound annual growth rate of 28.7 percent through 2018.
Driven by the need for solutions that transform raw data into actionable insights, InStep won numerous project awards from some of the largest utilities in the world in 2013 including EDF Group, AEP, SCE&G, TVA and Constellation Energy Nuclear Group. InStep's customer base is nearly 50 percent international as it continues to expand in Europe, the Middle East, Africa and Asia-Pacific.
"The 'Internet of Things' is creating exponentially more data and data management challenges for businesses. The industry shows no signs of slowing and will continue ramping up in 2014 as more machinery, assets and devices are equipped with data-transmitting sensors," said John Kalanik, president of InStep Software. "Our focus remains on helping companies turn challenges into opportunities for increased efficiency, reliability and profitability with leading software solutions."
To stay on the cutting-edge of advancing data management needs, InStep introduced several enhancements to its eDNA and PRiSM software solutions. The eDNA data historian enhancements included updates to various client applications, performance and speed improvements and additional advances to make the software more flexible and intuitive. InStep enhanced its predictive asset analytics solution, PRiSM, with a new OPTiCs algorithm, increased security and user interface improvements.
Further fueling the company's growth, InStep expanded its analytic consulting services. In addition to software implementation, the company offers predictive analytic model building and remote monitoring, custom product feature development and advanced business integration services.
"Because of the high-demand for Instep's products and services and the rapid growth of the industry, we've continued to add many talented new employees this year," Kalanik added. "Over the next year, we anticipate to continue increasing our staff with more engineers, computer scientists and sales professionals, with that growth expected to exceed 20 percent."
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About InStep Software, LLC
InStep Software is a leading provider of real-time performance management and predictive asset analytics software products and solutions for industries including power generation, power transmission and distribution, oil and gas, manufacturing, government, campus environments, water management and mining. InStep's software products extend the investment in modern control, monitoring and smart devices by collecting, archiving, displaying, analyzing and reporting the information provided by these systems. Many of the world's most successful companies use InStep's software products to actively manage and analyze the rapidly growing amount of real-time operational, asset health and regulatory related information. To learn more, visit www.instepsoftware.com.