The top two IT spending sectors in the Singapore manufacturing industry are high-tech and chemical, and both are expected to have the highest growth potential over the next five years, according to an IDC Manufacturing Insights report.
Asia/Pacific (Excluding Japan) Manufacturing IT Spend 2012-2016 Forecast indicated that the two sectors account for 65 percent of the total manufacturing IT spending in the nation.
IDC Manufacturing Insights expects IT spending in the sector to grow moderately from US$1.014 billion in 2012 to US$1.274 billion in 2016, representing a compound annual growth rate (CAGR) of 4.6 percent during this period.
"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," said Dr Christopher Holmes, head -- International, IDC Manufacturing Insights.
Besides enterprise resource planning, the IT organisations will be focusing on specific applications to support manufacturing operations, supply chain management and product lifecycle management, added Holmes.
IDC Manufacturing Insights also predicted 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.
Asia/Pacific (Excluding Japan) Manufacturing IT Spend 2012-2016 Forecast report provides a quantitative breakdown of manufacturing IT spending in 13 sectors within 14 countries across the Asia/Pacific (excluding Japan) or APEJ region.
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