Enterprise asset management (EAM) applications will be the top performer of the enterprise resource management (ERM) market, according to an IDC report.
The results of IDC’s Asia-Pacific Semiannual Enterprise Applications Tracker predicts the EAM application market will hit $US136.9 million in 2009 and grow to $US233.1 million by 2013.
The second fastest riser in the ERM market is set to be order management applications with a five-year compound annual growth rate (CAGR) of 8.5 per cent followed by procurement applications at 6.5 per cent.
The report covers the Asia-Pacific region including Australia, but excluding Japan.
Australia is currently a major consumer in the EAM market, providing 21 per cent of business in the Asia-Pacific region.
But this is dwarfed by China's 35.2 per cent market share worth $US50.9 million.
IDC claimed the global financial crisis was proving a boon for the EAM application industry.
“With the slowdown in global demand for manufactured goods, manufacturers are deferring the replacement cycles of their working assets,” IDC said in a statement.
“In addition to manufacturing, telecommunication, banking, and transportation are the three other primary verticals adopting this application.”