Frost & Sullivan honored 28 recipients in various high-tech industries for outstanding performances at the 2006 Asia Pacific Industrial Technologies Awards.
Last week’s conference saw top nods going to companies that have displayed superior accomplishments in Electronics, Industrial Automation, Process Control, Energy & Power Systems and Environment & Building Technologies industries.
“The RFID industry is also expected to grow at a CAGR of around 30 percent during the next five years driven by applications in Retail and Supply Chain Management, Security Access Control, Livestock, Healthcare and Pharmaceuticals sectors,” said Sanjay Singh, director of Industrial Technologies for Frost & Sullivan.
Frost & Sullivan Recognizes Industry Leadership
SINGAPORE, Oct. 6 /PRNewswire/ – At the 2006 Asia Pacific Industrial Technologies Awards last week, Frost & Sullivan honored 28 recipients’ for outstanding performances in the Electronics, Industrial Automation, Process Control, Energy & Power Systems and Environment & Building Technologies industries.
The awards offered were carefully reviewed and evaluated to reflect the current market landscape and include new emerging sectors. The award recipients are those who have leveraged best practices and demonstrated excellence in regional or countrywide operations in one or more business functions. Awards were presented to companies that have displayed superior accomplishments and exemplary achievements in areas such as market leadership, marketing strategy, business development strategy, market penetration, customer service, growth strategy, product line strategy, amongst others.
In his address on the Automation and Electronics sector, Sanjay Singh, Director of Industrial Technologies said that the smartcards market in APAC was estimated to be around 1 billion units in 2005 with a growth rate of around 20 percent driven by the major applications in telecom, banking and finance as well as transit and ID & security applications. “The RFID industry is also expected to grow at a CAGR of around 30 percent during the next five years driven by applications in Retail and Supply Chain Management, Security Access Control, Livestock, Healthcare and Pharmaceuticals sectors. The APAC semiconductor sector in APAC is expected to witness a relatively more stable growth but segments like MEMS and Semicon packaging are expected to have a growth rate in double digits – between 12 percent to 15 percent,” he added.
Satish Lele, Director of Industrial Technologies, who introduced the Industrial Automation and Process Control division and awards, said that the market for process automation is expected to grow at a CAGR of 5.6% till 2009, with China and India’s economic activity dominating the growth engine, whilst the oil and gas sector shows promising growth for automation in the near future. “The Southeast Asian Bearings industry which is almost $1.3b today will see stable growth with key growth drivers being the increasing movement of automobile manufacturing to countries like Thailand, Malaysia and the electronics sector in Singapore,” says Lele. He adds that the mining sector in the Philippines and Australia will drive growth in specialty bearings.
Director for the Energy and Power Systems Group, Asia Pacific, Ravi Krishnaswamy, said that the booming demand for energy in the ASEAN region has boosted the growth of the power industry (generation, transmission and distribution) and that increasing power consumption growth rates across countries triggered by urbanization, commercial and industrial market growth demanded new technologies within this industry.
Sapan Agarwal, Industry Manager for the Environment & Building Technologies Practice said that environmental technologies markets in Southeast Asia and Australia are witnessing robust growth across segments due to increased awareness and concerns over issues such as air pollution and waste management. Growing population and urbanization are the key forces shaping these markets given the ever-increasing necessity to invest more in infrastructure and utilities to meet the demands.