Ann Arbor, MI, Feb 27, 2023 – Oberon Technologies®, Inc., a leading provider of innovative extended reality (XR) training and information delivery technologies, today reported financial results for its fiscal 2022-year end as of December 31, 2022. The company reported a 70% growth in Titania software revenue, continuing a track record of strong SaaS growth quarter over quarter for more than two years.
“Providing our clients with trusted SaaS solutions frees them up from doing some of the complicated technical work themselves, offers significantly lower overhead and logistical costs than traditional implementations, and most importantly SaaS solutions provide the agility, flexibility and scalability our clients need,” says Scott Allen CIO. “Our SaaS offerings allow customers to deploy faster and we are able to alleviate significant burdens for our clients, while providing ongoing improvements as part of regular updates and new functionality in optional add-on modules. We are committed to helping our clients get the most value from their Titania investments.”
With dozens of new Titania clients in 2022 including global leaders in agricultural equipment, innovative leaders in medical device manufacturing, and clean energy providers, Oberon is seeing strong signs of the SaaS market growth. Analysts and researcher are predicting SaaS market surge by 2030, as noted in the report from Allied Market Research in this recent Financial News article “Global Software as a Service (SaaS) Market Size is Projected to Reach $700 Billion by 2030.”
Titania solutions are used in many areas by our clients, from automating all aspects of technical information delivery to providing greater access to critical product and service information. A growing area of adoption is use of the Titania Platform to enable access to VR training, making it easier to on-board and upskill new staff, while keeping staff and facilities safe. The built-in scalability of the Titania Platform allows Oberon clients to transform more areas of their business by enabling global content collaboration, fully immersive virtual reality training experiences, and the dynamic delivery of interactive content anywhere, at any time. Oberon has been enabling digital transformation for more than a decade. Seeing the accelerated adoption is exciting for us and our clients.