Ovum Proclaims Verity the Leader in Next-Generation Enterprise Search and OEM Search Market
Market study underscores enterprise-wide value of faster, more efficient, more accurate information retrieval and organization
SUNNYVALE, CA - 2001-09-26 - Ovum, the independent analyst and consulting company, has declared Verity, Inc. (NASDAQ: VRTY) the leader in the next-generation enter-prise search market. The recently-announced report, titled "Next-generation search: building the smart portal," also notes that Verity, with over 200 OEM partners, including PeopleSoft, Documentum and Plumtree, dominates the OEM search market.
The independent research carried out by Ovum defines next-generation search as the technologies and products that introduce new levels of intelligence, order and personalization to the knowledge manage-ment process. Ovum examines, among other things, important trends in enterprise search technology. It evaluates the strategies of leading companies that integrate their products into business portals and applications.
"Sophisticated portals' main purpose has been to provide comprehensive search and retrieval functions across a wide range of resources," said Eric Woods, research director for knowledge management at Ovum and co-author of the re-port. "Verity is a leader in meeting those market requirements and provides some of the most effective software for exploiting internal information sharing."
Ovum reports that the enterprise search market will be worth $525 million in 2001, rising to more than $1.5 billion by 2006. It notes that despite the current economic conditions, technologies such as Verity's, which help organisations gain control of their content, will continue to be a high priority for companies in the next few years.
"Ovum's report validates what our customers and partners already know: Verity is a leader in driving enterprise-wide efficiency by helping businesses better manage vast amounts of information," said Anthony J. Bettencourt, Verity's president. Our software should keep us ahead of our competitors. The recently launched Verity® K2 Enterprise, an advanced search, classification and categorization product, represents what we believe to be a tremendous step above anything else in this software category and is an example of Verity's drive to continue extending its market leadership."
The report also identifies Verity's strength in the OEM search market. Ovum values the OEM search market at over $40 million in 2001 and predicts that by 2006, search OEM agreements will represent 13% of the overall enterprise search market. "Ovum research shows that the best chance for success lies with search vendors embed-ding their technologies into corporate application infrastructure," said Woods. "With $24 million in OEM revenue in fiscal year 2001, Verity is the dominant market leader in the OEM search space."
About Verity
Headquartered in Sunnyvale, California, Verity is a leading provider of business portal infrastructure software. Verity software gives businesses a multitude of ways to improve access to vital information and perform a range of e-business operations, while enhancing the end-user experience. Verity-powered business portals, which include corporate portals used for sharing information within an enterprise, e-commerce portals for online selling, and market exchange portals for B2B activities, all provide personalized information to employees, partners, customers and suppliers.
Verity products are used by 80 percent of the Fortune 50 and by more than 1,500 corporations in various markets. Customers include Adobe Systems, American Greetings, AT&T, Cap Gemini Ernst & Young, Cisco, CNET, Compaq, Dow Jones, EDGAR Online, FairMarket, Financial Times, Globe and Mail, Home Depot, Lotus, NewsEdge Corporation, SAP, Siemens, Sybase, Time New Media and Timex. In 2001, Delphi Group named Verity as the market leader in the portal infrastructure software.
About Ovum
Ovum, the analyst and consulting company, is a global leader in the rapidly changing world of converging technologies and markets. Genuinely original thinking coupled with exceptional knowledge and experience allows the company to provide its customers with a definitive map of this complex environment and to guide them through it.
Ovum serves the world's telecoms operators and service providers, telecoms equipment suppliers, IT and software vendors, IT service providers, consultancies, investors, regulators and large users of IT solutions. Working with both the supply-side and the user community gives the company a unique insight into the demand and the drivers for future technology and market opportunities.
Ovum's analysts and consultants are located at centres of expertise in London, Boston, San Francisco, Buenos Aires, Seoul, Melbourne and Sydney.
Ovum's projections as to the future size of the enterprise search and OEM search markets are forward-looking statements subject to risks and uncertainties. These projections are based upon assumptions which may not prove to be accurate, in which case the future size of the enterprise search and OEM search markets may not reach the size reflected in the projections.
For more information, contact Verity at info@verity.com or at World Wide Web site http://www.verity.com or call 408-541-1500.
Verity and the Verity logo are registered trademarks or trademarks of Verity, Inc.
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