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

Siemens AG 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 ABB, Schneider Electric SE SBGSF SBGSY, Honeywell International Inc HON, Johnson Controls International PLC 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.