The worldwide market for enterprise asset management is expected to grow at a compounded annual growth rate of 6.5 percent over the next five years. The market was $1.34bn in 2007 and is forecasted to be over $1.8bn in 2012, according to a new ARC Advisory Group study.
A strong manufacturing sector with high demand for commodities and energy has permitted many companies to increase budgets for maintenance and capital expenditures. However, some remain cautious as economic uncertainty, driven by an impending U.S. recession, threatens growth prospects. While the state of the global economy still appears uncertain for many reasons, spending for asset management software and services has remained healthy in most regions.
Source: ARC Advisory Group, http://www.arcweb.com
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