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Production Monitoring Market by Component, Solution, Service, Organization Size, Industry And Region - Global Forecast to 2023

Production Monitoring Market: Global Forecast until 2023

  • October 2018
  • 189 pages
  • ID: 5605403
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The overall production monitoring market size to grow at a compound annual growth rate (CAGR) of 9.8% during the forecast horizon

The overall production monitoring market size is forecasted to grow from $4.00B in 2018 to $6.40B by 2023, at a Compound Annual Increase rate of 9.80 percent during the forecast period. Main increase factors for the sector contain increasing demand for industrial automation in the manufacturing market, servitization in manufacturing, need for centralized monitoring and predictive maintenance, and increase of sector 4.0. However, data security concerns and privacy issues could restrain the market increase.

Services component segment to grow at a better compound annual growth rate during the outlook period

Services are considered an important component of the production monitoring market, as they mainly focus on improving business processes and optimizing the production management of manufacturing firms. Services are considered as the backbone of the production monitoring software ecosystem, as they are instrumental in fulfilling end-users' and clients' custom requirements.

North America continent to hold the biggest industry size, and Asia-Pacific to grow at the maximal rate during the estimate period.

North America (NA) is anticipated to be the biggest contributor to the production monitoring market in terms of market size, as it is a technologically advanced area.Regions in this zone have sustainable and well-established economies, which enable them to strongly invest in Research&development activities, thereby contributing to the development of new technologies.

Due to the early adoption of trending technologies, including IoT, big data, DevOps, and mobility, manufacturers are keen to adopt new advanced technologies for their production process.North American countries have developed infrastructure and skilled workforce, which help production monitoring solution providers offer 24/7 support and maintenance to their clients.

This factor assures manufacturers to rely on production monitoring solutions and focus on growing their operational revenues.

Asia Pacific (APAC) is expected to grow at the highest compound annual growth rate (CAGR) during the outlook period.Territories in this area are anticipated to record high increase rates in the production monitoring market.

The territory has witnessed advanced and dynamic adoption of new technologies.On top of, it is taking aggressive initiatives to growth its IT infrastructure and enable commercial users to take cutting-edge technologies.

With a lower level of entrenched processes than their American or European counterparts, Asian manufacturing businesses have a greater ability to alter their operations. By integrating and adopting new technologies, firms can reduce their operating costs and rise efficiency across every market.

Comprehensive interviews were managed with Chief Executive Officers, marketing directors, other innovation and technology directors, and executives from numerous main institutions operating in the production monitoring marketplace.

• By company category: Tier 1: 25.0 percent, Tier 2: 25.0 percent, and Tier 3: 50.0 percent

• By description: C-suite executives: 50.0 percent, and Others 50.0 percent

• By area: North America continent: 25.0 percent, Europe (EU): 50.0 percent, and Asia-Pac: 25.0 percent

Main vendors in the overall production monitoring market contain Capgemini, Infosys, Oracle Corporation (NYSE:ORCL), Hitachi, Siemens, Verizon, Emerson, Rockwell Automation (NYSE:ROK), AspenTech, Schlumberger, IQMS, sedApta, Softweb Solutions, ORDINAL Software, Infinity QS, TESAR, PCE Instruments, LineView, Monnit, Coesia, RT Engineering, Cannon Automata, Intouch Monitoring, PetroDAQ, and Vertech.

Segment Research

The study includes an detailed competitive review of main actors in the overall production monitoring market, together with their company descriptions, recent evolutions, and key industries strategies. The document breaks down the overall production monitoring market by component (solutions and services), service (professional and managed), application area, deployment type, organization size, market (process and discrete manufacturing), and area.

Main highlights

The analysis will facilitate the market top players/new sector entrants in this sector with data on the best approximations of the revenue data for the global production monitoring market and the sub-segments.This industry report will facilitate partners distinguish the competitive landscape and obtain additional insights to better option their businesses and to plan suitable go-to-market approaches.

The market research also benefits partners comprehend the pulse of the sector and offers them with info on main market drivers, market restraints, opportunities, and alternatives.

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