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World Enterprise Asset Management Systems Markets for Process Industries
Frost & Sullivan, Nov 2007, Pages: 193
Upcoming Greenfield Projects in the Asia Pacific likely to Fuel Demand
The world enterprise asset management systems market has become fiercely competitive with large enterprise resource planning (ERP) vendors, process automation vendors, and niche vendors competing aggressively. While upcoming greenfield projects in the Asia Pacific and Europe and brownfield field installations in the North America are expected to fuel demand for enterprise asset management (EAM) systems, price sensitivity is also likely to increase, necessitating more innovative marketing techniques. Overall, this highly competitive market demands highly reliable systems, the best vertical expertise, robust open architecture, and faster delivery from manufacturers.
Frost & Sullivan’s research has shown that more than 65 percent of the revenues in the EAM space are coming from small and medium businesses (SMBs) that are in the process of adopting new technologies and implementing best practices to stay ahead of the competition. Any EAM solution vendor that provides a modular, scalable, off-the-shelf solution would have tremendous advantage over other participants. 'However, this is quite a challenge considering that most existing systems require a considerable amount of hardware and software configuration changes to cater to a greenfield, let alone a brownfield installation,' notes the analyst of this research service. 'Additionally, the implementation of the best practices and safety, security, and compliance regulations, and complex maintenance, repair, and overhaul (MRO) on a quick and scalable basis is a major challenge for vendors today.'
Increased Penetration of ERP Systems Coercing End Users to Incorporate EAM Systems
In order to leverage the complete benefits of an efficient ERP system, the assets and the maintenance operations of the plant floor need to be integrated into the ERP system. A total integrated ERP system with EAM can have significant benefits in terms of better inventory control and purchase operations, better streamlining of maintenance operations across locations, and total control over the system from plant floor to the boardroom. Manufacturers have realized the need to implement enterprise asset management systems that would help monitor key performance indicators across all manufacturing facilities. Quite often, corporations negotiate global licensing agreements to drive economies of scale in procurement, better buyer-supplier relationships, and a centralized system of inventory control, which shares the information across locations. While oil and gas and automotive industries have already shown the importance of a totally integrated ERP and supply chain management (SCM), the need for the same in the pulp and paper industry fuels the demand for EAM and computerized maintenance management system (CMMS) solutions.
Geographically, North America accounted for 39.7 percent of the world EAM revenues in 2006, followed by Europe, Middle East, and Africa (EMEA) with 33.1 percent, and Asia Pacific with 18.1 percent. Going forward, the market share of North America is expected decrease steadily even as the Asia Pacific market witnesses appreciable growth. Revenues from the Asia Pacific region are forecast to reach $576.0 million in 2013. 'The need for a ‘one stop shop’ for automation needs instigates manufactures to venture into strategies and alliances to improve their products and offerings,' says the analyst. 'Thus, joint ventures are likely to provide improved opportunities to provide one stop shopping services that customers have been demanding, and they are also expected to open new revenue possibilities.'
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