The worldwide 2008 market for plant asset management systems grew an average of over 13 percent per year since 2006, eclipsing the previous forecast of nearly 11 percent. The so-called PAM system market grew more than $400m since 2006, according to a new ARC Advisory Group study.
"PAM systems have been a bright spot for the automation industry for the past few years," says ARC Research Director Wil Chin, the principal author of the study. "End users purchased PAM systems in increasing numbers to improve production availability and profitability. The recent massive worker layoffs have thrust many organizations into precarious positions that threaten both the performance and the safety of their plants. Today, PAM systems can be just as important to the enterprise, but as dark clouds loom over the economy, PAM systems will continue to grow going forward, albeit at a slower rate."
Source: ARC Advisory Group