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Global Production Monitoring Market to 2023 - Increasing Adoption of Cloud-Based SolutionsDUBLIN, Nov. 5, 2018 /PRNewswire/ -- The "Production Monitoring Market by Component (Solutions and Services), Solution, Service (Professional and Managed), Organization Size, Industry (Process Manufacturing and Discrete Manufacturing), and Region - Global Forecast to 2023" report has been added to ResearchAndMarkets.com's offering.  The global production monitoring market size is expected to grow from USD 4.0 billion in 2018 to USD 6.4 billion by 2023, at a Compound Annual Growth Rate (CAGR) of 9.8% during the forecast period. The rising demand for industrial automation in the manufacturing industry is a major factor driving the growth of the market. By application area, the business process optimization segment is expected to be the largest contributor in the production monitoring market during the forecast period Business process optimization is a management approach that helps construct new processes and develop new resources to make an organization as effective as possible. This approach encourages organizational leaders to get back to basics and get rid of processes that are not working anymore. It creates an environment of ongoing monitoring, analysis, and adjustments when necessary. The production monitoring solutions based on platforms, such as Machine Learning (ML), IoT, and big data, are helping manufacturing organizations in achieving their short-term and long-term goals. These solutions enable manufacturing organizations to reduce the number of costly errors and achieve a vastly improved result by implementing a well-designed set of business process management solutions. Integration and deployment accounts for the largest market size during forecast period. Integration and deployment services is expected to account for the larger market size during the forecast period. These services are the basic and the most important aspect of implementing production monitoring solutions, as they optimize production management, asset monitoring, and maintenance. Deployment services involve the identification of business functions, analysis of operational risks, and development of management plans and policies to improve the operational efficiency of a production process and the performance of assets. The production monitoring vendors assist enterprises in gaining a high Return on Investment (RoI) on their investments by offering multiple application integration based on different platforms and by analyzing the centralized data of manufacturing operations. North America is expected to account for the largest market size during the forecast period North America is expected to be the largest contributor to the production monitoring market in terms of market size, as it is a technologically advanced region. 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 increasing their operational revenues. The advent of SMEs and adoption of digitalization in manufacturing are expected to drive the growth of the market in North America. Due to the early adoption of trending technologies, such as IoT, big data, DevOps, and mobility, manufacturers are keen to adopt new advanced technologies for their production process. Recent Developments:
Key Questions addressed by the report:
Key Topics Covered: 1 Introduction 4 Premium Insights 4.1 Attractive Opportunities in the Production Monitoring Market 4.2 Market Top 3 Process Manufacturing Industries and Regions 4.3 Market By Region 4.4 Market Investment Scenario 5 Market Overview 5.1 Introduction 5.2 Market Dynamics 5.2.1 Drivers 5.2.1.1 Rising Demand for Industrial Automation in the Manufacturing Industry 5.2.1.2 Servitization in Manufacturing 5.2.1.3 Need for Centralized Monitoring and Predictive Maintenance of Assets 5.2.1.4 Rise of Industry 4.0 5.2.2 Restraints 5.2.2.1 Data Security Concerns and Privacy Issues 5.2.3 Opportunities 5.2.3.1 Increasing Adoption of Cloud-Based Solutions 5.2.4 Challenges 5.2.4.1 Lack of Skills and Expertise 6 Production Monitoring Market, By Component 6.1 Introduction 6.2 Solutions 6.2.1 Asia Pacific to Witness the Highest Growth Rate in the Solutions Segment 6.3 Services 6.3.1 North America to Witness the Largest Market Size in the Services Segment 7 Market By Solution 7.1 Introduction 7.2 Asset Management 7.2.1 Critical Need for Asset Performance to Lead the Growth of Asset Management Solutions in the Production Monitoring Market 7.3 Data Management 7.3.1 Need for Predictive Analysis in the Manufacturing Industry to Drive the Growth of Data Management Solutions 7.4 Smart Surveillance and Security 7.4.1 Use of Technology in the Manufacturing Industry and Data Security Concerns are the Factors Driving the Growth of Smart Surveillance and Security Solutions 7.5 Mobile Workforce Management 7.5.1 Rise in Servitization in the Manufacturing Industry Fueling the Growth of Mobile Workforce Management Solutions 8 Production Monitoring Market, By Service 8.1 Introduction 8.2 Professional Services 8.2.1 Asia Pacific to Witness the Highest Growth Rate in the Professional Services Segment Due to the Rising Adoption of Technology Solutions 8.3 Managed Services 8.3.1 Increased Monitoring and Security Requirements, and Improved Compliance Driving the Growth of the Managed Services Segment 9 Market By Professional Service 9.1 Introduction 9.2 Integration and Deployment 9.2.1 Need for Optimized Production Management and Asset Monitoring Fueling the Growth of Integration and Deployment Services 9.3 Consulting 9.3.1 Increasing Awareness of Compliance Requirements in the Manufacturing Industry Driving the Growth of Consulting Services 9.4 Support and Maintenance 9.4.1 Increasing Dependency on Automation and Use of Smart Equipment in the Manufacturing Industry Driving the Growth of Support and Maintenance Services 9.5 Education and Training 9.5.1 Increasing Complexity of Threats and Data Loss Generating the Need for Education and Training Services 10 Production Monitoring Market, By Managed Service 10.1 Introduction 10.2 Infrastructure Management 10.2.1 Advancement of IT Infrastructure in the Manufacturing Industry Driving the Growth of Infrastructure Management Services 10.3 Security Management 10.3.1 Critical Need of Protecting Customer Data Increasing the Demand for Security Management Services 11 Market By Application Area 11.1 Introduction 11.2 Business Process Optimization 11.2.1 Increasing Focus on Productivity and Efficiency Driving the Growth of Production Monitoring Solutions in the Business Process Optimization Segment 11.3 Logistics and Supply Chain Management 11.3.1 Focus on Reducing the Supply Chain and Inventory Complexities Increasing the Demand for Production Monitoring Solutions in the Logistics and Supply Chain Management Segment 11.4 Automation and Control Management 11.4.1 Asset Condition Monitoring Solutions Help Reduce the Downtime in the Automation and Control Management Segment 11.5 Emergency and Incident Management 11.5.1 Predictive Maintenance and Smart Security Help Enterprises in Achieving Better Efficiency in the Emergency and Incident Management Segment 12 Production Monitoring Market, By Deployment Type 12.1 Introduction 12.2 On-Premises 12.2.1 Advanced IT Infrastructure Driving the Growth of On-Premises Solutions in North America 12.3 Cloud 12.3.1 Reduced IT Infrastructure Cost Leading to the Growth of Cloud Solutions in the Market 13 Market By Organization Size 13.1 Introduction 13.2 Small and Medium-Sized Enterprises 13.2.1 Focus on Niche Areas of the Manufacturing Industry Leading to the Growth of Small and Medium-Sized Enterprises 13.3 Large Enterprises 13.3.1 Availability of Infrastructure and Resources Driving Large Enterprises to Adopt Production Monitoring Solutions 14 Production Monitoring Market, By Industry 14.1 Introduction 14.2 Process Manufacturing 14.2.1 Focus on High Volume and High Efficiency Driving the Growth of Production Monitoring Solutions in the Process Manufacturing Industry 14.3 Discrete Manufacturing 14.3.1 Focus on Reducing the Asset Performance and Downtime Increasing the Demand for Production Monitoring Solutions in the Discrete Manufacturing Industry 15 Market By Process Manufacturing Industry 15.1 Introduction 15.2 Oil and Gas 15.2.1 Need for Real-Time Monitoring and Predictive Maintenance in the Oil and Gas Vertical Driving the Growth of Production Monitoring Solutions 15.3 Chemical 15.3.1 Need for Operational Efficiency Increasing the Demand for Production Monitoring Solutions in the Chemical Vertical 15.4 Pharmaceutical and Life Sciences 15.4.1 Need for Maintaining High-Quality Products Leading to the Growth of Production Monitoring Solutions in the Pharmaceutical and Life Sciences Vertical 15.5 Energy and Power 15.5.1 Increasing Adoption of Smart Meters and Grids Driving the Growth of Production Monitoring Solutions in the Energy and Power Vertical 15.6 Water and Wastewater Management 15.6.1 Critical Need for Advanced Processes Increasing the Demand for Production Monitoring Solutions and Services in the Water and Wastewater Management Vertical 15.7 Food and Beverage 15.7.1 Rise in Production of Foods and Beverages Increasing the Demand for Production Monitoring Solutions 16 Production Monitoring Market, By Discrete Manufacturing Industry 16.1 Introduction 16.2 Automotive 16.2.1 High Level of Assembly and Focus on Reducing Process Inefficiencies Driving the Growth of Production Monitoring Solutions in the Automotive Vertical 16.3 Aerospace and Defense 16.3.1 Demand for Quality and Growing Complexities in the Supply Chain Driving the Growth of Production Monitoring Solutions in the Aerospace and Defense Vertical 16.4 Medical Devices 16.4.1 Need of Reducing Error Patterns in Medical Devices Increasing the Demand for Production Monitoring Solutions in the Medical Devices Vertical 16.5 Electronics and Semiconductors 16.5.1 Focus on Increasing Operational Efficiency Driving the Growth of Production Monitoring Solutions in the Electronics and Semiconductors Vertical 17 Production Monitoring Market, By Region 17.1 Introduction 17.2 North America 17.2.1 Early Adoption of Technologies and High Focus on Innovation Leading to the Growth of Production Monitoring Solutions in North America 17.3 Europe 17.3.1 The Growing Need of Virtualized Environment, Analytics, Security, and Digitization in the Manufacturing Industry Leading to the Growth of Production Monitoring Solutions in Europe 17.4 Asia Pacific 17.4.1 Rising Adoption of New Technologies in the Manufacturing Industry and Aggressive Initiatives to Increase the IT Infrastructure Leading to the Growth of Production Monitoring Solutions in Asia Pacific 17.5 Middle East and Africa 17.5.1 Increasing Adoption of Digitization in the Manufacturing Industry Fueling the Growth of Production Monitoring Solutions in Middle East and Africa 17.6 Latin America 17.6.1 Increasing Use of Big Data Technologies in the Manufacturing Industry to Drive the Growth of Production Monitoring Solutions in Latin America 18 Competitive Landscape 18.1 Overview 18.2 Market Ranking 18.3 Competitive Scenario 18.3.1 New Product Launches and Enhancements 18.3.2 Partnerships, Collaborations, and Agreements 18.3.3 Mergers and Acquisitions 19 Company Profiles 19.1 Capgemini 19.2 Infosys 19.3 Oracle 19.4 Hitachi 19.5 Siemens 19.6 Verizon 19.7 Emerson 19.8 Rockwell Automation 19.9 Aspen Technology 19.10 Schlumberger 19.11 IQMS 19.12 Sedapta 19.13 Softweb Solutions 19.14 Ordinal Software 19.15 Infinity Qs 19.16 Tesar 19.17 PCE Instruments 19.18 Lineview 19.19 Monnit 19.20 Coesia 19.21 RT Engineering 19.22 Cannon Automata 19.23 Intouch Monitoring 19.24 Petrodaq 19.25 Vertech For more information about this report visit https://www.researchandmarkets.com/research/qgs3jq/global_production?w=5 Did you know that we also offer Custom Research? Visit our Custom Research page to learn more and schedule a meeting with our Custom Research Manager. Media Contact: Laura Wood, Senior Manager
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