Bangkok--6 Aug--IDC
IDC Says Enterprise Asset Management Application Will Grow Faster than Any Other Enterprise Resource Management Applications in APEJ Over the Next Five Years
IDC's Asia/Pacific Semiannual Enterprise Applications Tracker results for 2H2008 reveal that the Enterprise Asset Management (EAM) applications market in the Asia/Pacific excluding Japan (or APEJ1) region is estimated to reach US$136.9 million in 2009. It is expected to grow steadily at a five-year compound annual growth rate (CAGR) of 10%, reaching US$233.1 million by 2013. The five-year CAGR for EAM application is the highest in the Enterprise Resource Management (ERM2) market for the forecast period. The other applications with high CAGR are Order Management at 8.5% and Procurement at 6.5%.
"As the global economy continues to shrink, enterprises are exploring avenues to maximize the return of their asset investments," says Alan Tong, Senior Research Manager of Asia/Pacific Enterprise Applications Research at IDC. "For machinery and equipment, scheduling, preventive and predictive maintenance are important in preserving the working lifespan of these assets," he adds.
China led the EAM market in APEJ with a market share of 35.2% or US$50.9m in 2008. The EAM market in China is expected to reach US$123m in 2013. This is equivalent to a five-year CAGR of 19%. China continues to be the global manufacturing hub with significant worldwide investments in manufacturing and production infrastructures. Consequently, demand is growing for maintenance tools from the manufacturers for maintenance, repair, and overhaul operations. The other leading countries in EAM adoption are Australia and India with approximately 21.0% and 19.8% market share in APEJ respectively. Overall, these three key countries contribute close to 76% of the entire APEJ market.
In addition to manufacturing, telecommunication, banking, and transportation are the three other primary verticals adopting this application. The surge is driven primarily by large businesses, which are asset intensive. It is also worth noting that mid-market adoption has also gained in adoption rate pace.
With the slowdown in global demand for manufactured goods, manufacturers are deferring the replacement cycles of their working assets. Accordingly EAM tools are necessary to help enterprises establish preventive maintenance to both extend the useful life and monitor the performance of equipment and machinery. Furthermore, with increased attention on the bottom line enterprises will also be able to monitor their asset-based expenses and embark on corrective measures if required.
For more information about purchasing the research, please contact Lizzie Shunmugam at +603-2169-7536 or [email protected].
About IDC
IDC is the premier global provider of market intelligence, advisory services, and events for the information technology, telecommunications, and consumer technology markets. IDC helps IT professionals, business executives, and the investment community make fact-based decisions on technology purchases and business strategy. More than 1,000 IDC analysts provide global, regional, and local expertise on technology and industry opportunities and trends in over 110 countries. For more than 45 years, IDC has provided strategic insights to help our clients achieve their key business objectives. IDC is a subsidiary of IDG, the world's leading technology media, research, and events company. You can learn more about IDC by visiting www.idc.com.
For press inquiries, please contact:
Alan Tong
Senior Research Manager, Asia/Pacific Enterprise Applications Research
+603-2169-7519
[email protected]
Sasithorn Sae-iao
Marketing Executive for Philippines and Thailand
+ 66-2651-5585-87 ext. 113
[email protected]