High-Tech and Chemical Sectors to Dominate Singapore's Manufacturing IT Spending in 2012, says IDC Manufacturing Insights
02 Jul 2012
Singapore and Hong Kong – July 2, 2012 –The Singapore economy is forecasted to expand at a moderate pace in the next five years. In line with the overall world economy, IDC Manufacturing Insights expects IT spending in the manufacturing sector to grow moderately from US$ 1,014 million in 2012 to US$ 1,274 million in 2016, representing a compound annual growth rate (CAGR) of 4.6% during this period.
More insights can be found in the report, “Asia/Pacific (Excluding Japan) Manufacturing IT Spend 2012-2016 Forecast” (Doc #AP9397105U, June 2012), which provides a quantitative breakdown of manufacturing IT spending in 13 sectors within 14 countries across the Asia/Pacific (excluding Japan) or APEJ region.
Among the range of sectors within the manufacturing industry in Singapore, high-tech is expected to continue spending the most on IT in 2012, followed by the chemical sector. These two sectors account for 65% of the total manufacturing IT spending in the nation, and they have been identified by Manufacturing Insights as having the highest growth potential in the next five years.
"In the face of increasing costs and uncertainty in the world economy, manufacturers across the region are increasingly focusing their efforts on productivity and efficiency," says Dr. Christopher Holmes, Head -- International, IDC Manufacturing Insights.
Holmes continues, "From a technology perspective, companies will be focusing on driving out cost and becoming even more productive in 2012 and beyond, and they are seeking, more than ever, to establish a link between technology and efficiency. Companies today want to leverage technology to deliver value to their enterprise and they will be looking beyond enterprise resource planning. Going forward, there will be more focus on specific applications to support manufacturing operations, supply chain management and product lifecycle management.
IDC Manufacturing Insights also see interest in up-and-coming technologies such as business intelligence and mobility within the manufacturing space as companies seek to leverage these tools to enhance productivity.
For more information on obtaining this report, Asia/Pacific (Excluding Japan) Manufacturing IT Spend 2012-2016 Forecast” (Doc #AP9397105U, June 2012), please contact Sheryl Fuertez at email: email@example.com or Tel: +65-6829-7758. To set up a media interview with Dr. Christopher Holmes, please contact Lay Fang Tan at firstname.lastname@example.org.
About IDC Manufacturing Insights
IDC Manufacturing Insights provides a broad portfolio of research-based advisory services and custom research focused on market and technology developments impacting the manufacturing industry, including supply chain and demand management, product lifecycle management, operations technology, risk management, RFID/sensor networks, sustainability, and warranty and quality management. International Data Corporation (IDC) is the premier global provider of market intelligence, advisory services, and events for the information technology market. IDC is a subsidiary of IDG, the world’s leading technology, media, research, and events company. For more information, please visit the IDC Manufacturing Insights Community at http://www.idc-mi.com
International Data Corporation (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 to 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 worldwide. For more than 47 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 more information, contact:
Dr. Christopher Holmes
Lay Fang Tan