Market overview of EAM in India
Mary Gorczynski 1100006B54 email@example.com | | Tags:  ibmsoftware asset-management ibmontwitter software india tivoli assetmgmt maximo service-management ibmeam eam
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Today's blog comes from Alok Chander.
India is the 2nd most populous countries in the world after China and is the third biggest economy in the Asia after China and Japan. The GDP of the country is estimated to be $1. 73 trillion and the economic growth of the country is projected to be between 7 to 7.5% for the year 2011-12. India's large service industry accounts for 57.2% of the country's GDP while the industrial and agricultural sectors contribute 28.6% and 14.6% respectively. The service sector makes up a further 34%, and industrial sector around 14%. Major industries include telecommunications, textiles, chemicals, food processing, steel, transportation equipment, cement, mining, petroleum, machinery, software and pharmaceuticals. The labour force totals 500 million workers.
Enterprise Asset Management in India will play an important role in the development of the one of the fastest growing countries. India targets $1 trillion investment in the infrastructure in the next five years plan which begins 2012. With changing laws and evolving regulations, India is becoming a hot destination for the foreign investment especially in retail, aviation, infrastructure and telecom sectors. India’s wireless communication market is second largest in the world and with huge potential in wireless broadband sector India is emerging as the world’s leading investment destination.
Companies, public infrastructure and systems which were built slowly over time are suddenly overwhelmed with the rapid growth all around which they are unable to keep pace with. While there is a lot of investment being poured into the various sectors, there is also a need to put in place smart systems which will help avoid the confusion and chaos which usually comes about with erratic patterns in growth and demand, as has been the case in the last two decades. No one imagined modest cities like Bangalore to develop into IT powerhouses attracting millions of people and in effect, putting a massive strain on the infrastructure.
Increasingly, companies, both public and private are looking to technology to help them manage and maintain their infrastructure and myriad of assets. One such IT solution which is gaining quick acceptance is the Enterprise Asset Management (EAM). By providing a platform for connecting people, processes, assets and decision support capabilities EAM solutions provide a holistic view of an organization's asset base, enabling managers to control and optimize their operations for quality and efficiency. EAM solutions are especially useful in managing huge and complex assets in critical sectors like Oil & Gas, Energy & Utilities, Manufacturing and Transportation, where downtimes can be very expensive, both in terms of lost production capacity and unfavorable publicity.
One product in particular gaining traction in India is IBM Maximo Asset Management. In the last year, Maximo has had breakthroughs with quite a few prominent Indian companies and Multi National Corporations operating in India, such as, Carrefour Retail, Apollo Hospitals, 3C Facilities (facilities management), Operational Energy Group (power plant operations and maintenance), Maithon Power, Jubilant Organosys (chemicals and pharmaceuticals), Wipro Global Energy Management Systems, Terminal 3 at the New Delhi Indira Gandhi International Airport to name a few.
For more information about IBM Asset and Facilities Management solutions, go here.