Emerging Business

The total Asia Pacific market for e-business solutions was valued at $ 8.25 billion in 2000. The positive economic outlook in the region and increasing awareness are the primary factors that will contribute to the growth in the market. The growth in 2002 is expected to propel the development of the market, which is expected to touch $ 24 billion in 2005.

Taking into account this new emerging market, the recent decision of NASSCOM to conduct a study on defining the market potential and characteristics for key e-business applications in Asia and drawing market strategies for Indian IT companies in partnership with international strategic marketing consulting firm Frost & Sullivan is a welcome step. This is a part of NASSCOM's initiative to identify the growth opportunities for Indian software and service companies in Asia-Pacific and help them develop a roadmap for developing IT solutions in e-business.

There is a need today for companies to efficiently use and maximize benefits from their existing IT infrastructure. The untapped markets in Asia-Pacific region provide an immense opportunity for Indian software companies, especially for the SMEs. And, here the study will come in very handy as it will help identifying specific growth area in e-business applications and newer markets.

The aim of the study is to cover eight enterprise applications across 13 geographies in Asia within eight different industry verticals. The countries that would be
covered in the study--Australia, China, Hong Kong, Indonesia, Japan, Malaysia, New Zealand, Philippines, Singapore, South Korea, Taiwan and Thailand--have great potential.

The scope of the study extends from identifying the current and potential customers of enterprise application in the region across a whole range of verticals including financial services, communication, manufacturing, healthcare, Government, distribution, travel and tourism, and IT services and chip design.

Undoubtedly, the study will benefit the SME segment the most since it would help them identify specific applications areas, the use and need of these applications in business processes and will provide a road map to capture this growing e-business pie in Asia.