Comprehensive Market Research Report: Synapse Product Development
Company Overview
Synapse Product Development is a leading entity in the realm of product development and engineering services. Specializing in mechanical, electrical, and software engineering, as well as program management and innovative product design, Synapse excels at creating transformative hardware devices. The corporation's services aim at optimizing efficiencies, enabling data-informed decisions, and enhancing user experiences, thereby aligning with modern business demands through sustainable technology solutions. Headquartered in Seattle, Washington, with a branch office in San Francisco, Synapse serves a varied clientele that spans entertainment, consumer electronics, life sciences, healthcare, startups, and Fortune 500 companies.
- Estimated Annual Revenue: $37.7 million
- Employee Count: 140 employees
- Employee Growth Rate: -7% over the past year
- Estimated Revenue per Employee: $269,500
Service Portfolio
The suite of services offered by Synapse encompasses a complete range of development, including hardware architecture, product prototyping, and proof of concept development. The dedication to critical design solutions and new product introductions underlines Synapse's commitment to innovation and quality in product strategy fulfillment. Their capability extends from mechanical and electrical to software engineering, providing end-to-end product development solutions.
Key Achievements and Partnerships
Synapse boasts a diverse and impressive portfolio, having collaborated with illustrious clients such as Nike, Google ATAP, NASA, and L’Oréal. Their projects vary from AI-driven connected products with Purina and innovative VR training solutions for NASA, to fitness-tracking wearables in partnership with Nike. Completing over 1500 projects with more than 300 clients, Synapse has an impressive 80% of its business derived from returning clients, signifying strong client satisfaction and trust.
Leadership Team and Company Culture
The leadership team, spearheaded by President Jeff Hebert, consists of a multitude of skilled professionals, including Martine Stillman (Vice President of Engineering), Ann Torres (Senior VP of Engineering), Heather Brundage (Senior Director of Strategy and Innovation), and Jackie Johanson (Head of Marketing), among others. Synapse thrives on a culture of innovation, fostered by a collective of strategists, creatives, and tech experts striving towards the company's strategic vision.
Competitor Analysis
Main Competitors:
1. CPS National
- Revenue: $12.8 million
- Employee Count: 58
2. Schweitzer Engineering Laboratories (SEL)
- Revenue: $2.175 billion
- Employee Count: 6,341
3. Applied Technical Services (ATS)
- Revenue: $32.6 million
- Employee Count: 133 in technical services
4. HAVI
- Known for logistics and supply chain management expertise.
5. Macrovision Inc
- Specializes in software solutions and media services.
Other notable competitors include Stratos Group, Hackaday, and Bond, with relevance in the digital transformation space. Coastal, Magna5, and Cognizant are perceived as top alternatives to Synapse.
Company Milestones
With a legacy spanning over 20 years, Synapse stands as a stalwart in the product development sector, pushing technological boundaries and fostering strategic partnerships. The company's extensive experience has facilitated their participation in numerous transformative projects, leading to distinct solutions that enhance business operations on a global scale.
