(MENAFN- Comserve) Shibuya-ku, Tokyo, Japan, Japan, Mar 22, 2021, 02:47 /Comserve / -- The research report analyze market size, share, growth, trends, segmentation, top key players, strategies, demand, statistics, competitive landscape and forecast.
The production monitoring market is expected to register a CAGR of 8.2 % during the forecast period of 2020-2025. Due to a number of economic, radical, and market factors across the globe, a significant revolution has been happening within the manufacturing industry. Both augmented reality (AR) and virtual reality (VR) in Industry 4.0 bridge the gap between digital/cyber/virtual and physical world. VR and AR technology, when integrated into a factory environment and equipment via devices and sensors, can help keep track of the manufacturing processes and production. This helps optimize and enhance machine productivity (quantity, quality, speed, and flexibility), improving the overall ROI of the enterprise. In April 2020, Flex decided to enhance its global manufacturing processes and delivering customer solutions through augmented/virtual reality, which will help in design, usability, and product lifecycle management. Further implemented by other players will provide a future trend in the production monitoring market.
- Demand for a centralized monitoring system with predictive maintenance of assets drives the market. Predictive maintenance has been adopted recently in the heavy manufacturing industry, such as predictive maintenance of a gas turbine, a vacuum pump, an aircraft engine, etc. Overall, the predictive maintenance framework able to perform real-time detection, visualization, alert creation, as well as recommendations for fixes on different stages of the manufacturing process through the centralized system.
- Players are focused on implementing a solution that can be integrated with predictive maintenance. In April 2020, Kistler introduced a flexible new amplifier for industrial applications, a miniature charge amplifier with IO-Link suitable for use in robotics, the packaging industry, the food, and the beverage sector and for OEMs. IO-Link technology supplies users with real-time data to monitor the condition of their plants and measurement chains through predictive maintenance.
- The adoption of IoT-based solution for control and monitoring of additive manufacturing processes drives the market. According to AMFG, as of 2019, the additive manufacturing industry was estimated to be worth over USD 9 billion dollars and further estimated to worth more than the current market value. Additive manufacturing enables the fast, flexible, and cost-efficient production of parts directly from 3D CAD data. For the management of additive manufacturing machines, the application of beacon technology in the factory environment allows the communication of production indexes extracted from the machines via mobile devices. IoT (Internet of Things).
- Further, the two types of beacons can be used where some beacons can broadcast an entire URL, such as the beacons that follow the Eddystone-URL or Ephemeral URL standards. These beacons can directly send the machine HMI Internet Address. With the integration of IoT, the market for production monitoring signifies a potential growth in the coming future.
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- Further, the COVID-19 pandemic raises the demand for production monitoring solutions integrated with the cloud deployment for many end-users such as automotive, healthcare, aerospace, etc. The demand for medical equipment raises significantly during this pandemic. In April 2020, India and Russia have discussed facilitating the emergent needs of equipment on both sides as part of their efforts to contain COVID-19. Both sides decided to be in touch with monitoring and facilitating the emergent needs of the equipment. This inhibits the demand for software solutions mostly deployed through a cloud solution.
- Moreover, in April 2020, RecycleGO collaborated with Mask Force NYC to bring Fast-Track Relief to healthcare providers due to the COVID-19 outbreak in the United States. In less than 14 days, RecycleGO built a fast-track global supply chain and distribution network for Mask Force NYC. Once the masks arrived in New York in April, RecycleGO worked with Mask Force NYC to organize mask distribution logistics using its dual-system logistics operations software. This logistics software is used for dispatchers, Mission Control, and its route optimization application.
- However, data security concerns and privacy issues are challenging the market growth. Metals, capital goods, and electronics industries are fast becoming inclined to cybersecurity risks as investments in manufacturing systems are incorporated with connected devices. Manufacturers have become more unsafe for cyber-attacks after shifting towards cloud infrastructure and services.
- The threat has now become very striking to the manufacturing sector, which faces risks from the hacking of the IoT investments to the intellectual IP theft from China and other countries. According to a recent study by Wipro, out of the total critical resources or assets offered on the Dark Web, 14% were from the manufacturing sector in 2019.
Key Market Trends
Automation & Control Management to Witness Significant Growth in Oil & Gas
- According to Forbes, the dependency of the oil and gas industry on automation has increased in the last decade, and this is expected further to double by 2020 with the increasing demand for crude oil. Initiatives to digitize oil fields are being implemented, and this has led to investing in instrumentation in order to increase productivity and complete projects within defined budgets and timelines.
- The automation sector has evolved from supplying hardware equipment with aftermarket services to becoming more service-based and offering software tools that can translate huge volumes of data into meaningful, intelligent information that can be leveraged to make important business decisions. In April 2019, AeonX Limited (Nigeria) had signed the oil and gas partnership agreement with WFS Technologies to promote and deliver the full range of state-of-the-art Seatooth products for asset integrity and flow assurance monitoring to existing and new clients in Nigeria.
- Further, one of the largest expenses for oil and gas companies comes through the process of drilling. Not only is drilling costly, but it is also highly technical and involves considerable safety risks for workers. Automating manual portions of that process, like pipe handling and pressure drilling, can significantly reduce safety risks, and speed up the overall drilling process.
- In April 2020, Brazilian offshore drilling services provider Ocyan has launched Ocyan Waves program, where the offshore drilling platforms, provides several supervisory systems that connect different equipment by sensors using automation. The systems are able to emit alarms when some equipment exceeds its minimum or maximum index, warning the operator that something is wrong.
- Further, some companies have begun using automated weather sensors to detect changes in seismic activity, as well as ocean and atmospheric levels. This can help predict when conditions are right for major natural weather events, such as earthquakes and hurricanes, thereby enabling oil and gas companies to take the proper safety precautions in real-time. Due to a high degree of automation, the developed technology can be implemented as a geoinformation web service for all-weather up-to-the-date monitoring of oil extraction areas. This web service can be used to determine the area of fields, control production activity, and estimate oil production, supervise development and production activities, and assess anthropogenic load in oil production areas.
- Further, the measurement of pressure and flow of oil is a task that can easily be improved through automation. Installing smart sensors which connect to centralized monitoring software, allow pressure, flow, and level of oil to be reported remotely from the field, without the need for on-site crew. Upon receiving this information, rig crews can monitor and adjust settings as needed.
- In April 2020, a player such as Yokogawa introduced AI-enabled Versions of SMARTDAC+ Paperless Recorders and Data Logging Software, and Environmentally Robust AI-enabled e-RT3 Plus Edge Computing Platform for Industry Applications including oil and gas. Recorders used in manufacturing and R & D to acquire, display, and record data on voltage, current, temperature, flow rate, pressure, and other process variables in the oil and gas industry.
- Further, due to the COVID-19 pandemic, the strategy to implement automation monitoring is increasing. In April 2020, Finnish-Russian industrial digital solutions provider Zyfra has said that companies in the field of machinery, mining, and oil and gas from Russia and India should focus on speeding up their digital transformation. Zyfra also called upon the companies to jointly develop industrial digitalization technologies and share best practices to minimize the negative consequences of the COVID-19 pandemic on their businesses and the supply chain. Hence the demand for automation production monitoring significantly tends to rise in the pandemic situation.
North America Accounts for Significant Market Share
- North America is accounted to be the largest contributor to the production monitoring market due to its 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.
- In the United States, most of the industries are the sophisticated users of data analytics systems and are ready to deploy a new platform with new architecture and capabilities to monitor the production. Further players are also focused on providing new solutions. In April 2020, Altair announced a major new release of Panopticon, its comprehensive platform for user-driven monitoring and analysis of real-time trading and market data. These include operational data analytics applications in manufacturing, logistics, telecoms, oil and gas production, and energy distribution.
- Further, the companies in the United States, where employees are more than 100 in number, are adopting cloud-based applications. It has been estimated that nearly 35% of SMBs in the country have already deployed cloud solutions integrating with BPM (Business Process Optimization). This further holds the growth for the production monitoring in the service segment.
- In March 2020, Sysdig, Inc. announced cloud monitoring at scale with full Prometheus compatibility in the United States and Canada. It enables companies to confidently run cloud-native workloads in production. With the Sysdig Secure DevOps Platform, cloud teams embed security, validate compliance, and maximize performance and availability.
- Also, the launch of Predictive Maintenance-as-a-Service (PMaaS) by Rockwell Automation is assisting industries in the United States by providing service on critical assets identified by the customer, analyzes data from connected technologies, such as sensors, control systems, and smart machines, and can identify normal operations and build out data models to help predict, monitor, and mitigate future failures or issues as part of the preventive maintenance strategy.
- Further, according to the U.S. Energy Information Administration, the United States will become a net energy exporter in 2020 and will remain so throughout the projection period as a result of large increases in crude oil, natural gas, and natural gas plant liquids (NGPL) production coupled with slow growth in U.S. energy consumption. The factor inhibits the demand for production monitoring solutions currently and in the future.
- Further, in the most severe cases of COVID-19, the race to build more ventilators has seen automakers like Ford, General Motors, and Tesla morph into the ventilator distributors and designers while are also helping medical device companies to scale up production of the critical equipment. While there were between 160,000 and 200,000 ventilators in the United States as of mid-March 2020, some health experts believe as many as 1 million COVID-19 patients might need the devices in the country over the course of the pandemic. This further leads to the usage of production monitoring software to these companies preventing the shortage in the future period based on the situation.
Competitive Landscape
The production monitoring market is highly fragmented, and the major players have used various strategies, such as new product launches, agreements, expansions to increase their footprints in this market. Most businesses across the whole spectrum combine at least two or three different tools to monitor and run their production monitoring. Key players are Capgemini SE, Siemens AG, etc. Recent developments in the market are -
- March 2020 - NEC Corporation announced a collaboration with Siemens in the IoT field for providing a monitoring and analysis solution in manufacturing that connects MindSphere, the cloud-based, open IoT operating system from Siemens, and the NEC's System Invariant Analysis Technology (SIAT). NEC is joining the MindSphere Partner Program to get access to specialized technical training and support from Siemens as well as a number of joint go-to-market capabilities
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1 INTRODUCTION
1.1 Study Deliverables
1.2 Study Assumptions
1.3 Scope of the Study
2 RESEARCH METHODOLOGY
3 EXECUTIVE SUMMARY
4 MARKET DYNAMICS
4.1 Market Overview
4.2 Market Drivers
4.2.1 Demand for Centralized Monitoring and Predictive Maintenance of Assets
4.2.2 Adoption of IoT-Based Solution for Control and Monitoring of Additive Manufacturing Processes
4.3 Market Restraints
4.3.1 Data Security Concerns and Privacy Issues
4.4 Industry Value Chain Analysis
4.5 Industry Attractiveness - Porter's Five Forces Analysis
4.5.1 Threat of New Entrants
4.5.2 Bargaining Power of Buyers/Consumers
4.5.3 Bargaining Power of Suppliers
4.5.4 Threat of Substitute Products
4.5.5 Intensity of Competitive Rivalry
4.6 Assessment of Impact of Covid-19 on the Industry
5 MARKET SEGMENTATION
5.1 Component
5.1.1 Solutions
5.1.2 Services
5.2 Deployment
5.2.1 Cloud
5.2.2 On-Premise
5.3 Application
5.3.1 Business Process Optimization
5.3.2 Logistics and Supply Chain Management
5.3.3 Emergency & Incident Management
5.3.4 Automation & Control Management
5.4 End-User
5.4.1 Oil & Gas
5.4.2 Chemical
5.4.3 Automotive
5.4.4 Energy & Power
5.4.5 Food & Beverage
5.4.6 Aerospace & Defense
5.4.7 Healthcare & Life Sciences
5.4.8 Other End-Users
5.5 Geography
5.5.1 North America
5.5.1.1 United States
5.5.1.2 Canada
5.5.2 Europe
5.5.2.1 Germany
5.5.2.2 United Kingdom
5.5.2.3 France
5.5.2.4 Rest of Europe
5.5.3 Asia-Pacific
5.5.3.1 India
5.5.3.2 China
5.5.3.3 Japan
5.5.3.4 Rest of Asia-Pacific
5.5.4 Rest of the World
5.5.4.1 Latin America
5.5.4.2 Middle East and Africa
6 COMPETITIVE LANDSCAPE
6.1 Company Profiles
6.1.1 Capgemini SE
6.1.2 Siemens AG
6.1.3 Emerson Electric Co.
6.1.4 National Instruments Corporation
6.1.5 Rockwell Automation, Inc.
6.1.6 New Relic, Inc.
6.1.7 IQMS, Inc. (Dassault Systemes)
6.1.8 QIMA Limited
6.1.9 Konecranes Oyj
6.1.10 Oracle Corporation
7 INVESTMENT ANALYSIS
8 MARKET OPPORTUNITIES AND FUTURE TRENDS
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