The study involved 4 major steps to estimate
the current market size for the production monitoring market. Exhaustive
secondary research was done to collect information on market, peer market, and
parent market. The next step was to validate these findings, assumptions, and
sizing with industry experts across value chain through primary research. Both
top-down and bottom-up approaches were employed to estimate the complete market
size. Thereafter, market breakdown and data triangulation were used to estimate
the market size of segments and subsegments.
Security is the biggest concern for all
organizations, be it a Small and Medium-sized Enterprise (SME) or a large
enterprise. Any data breach would significantly hamper the business. Therefore,
the main focus of enterprises is to protect the inherent property of the
organization, such as customer service delivery, without compromising on the
output. Manufacturing companies who are focused on product development have
high amounts of data, including product designs, prototype information,
customer information, vendor details, and contract details. These data are very
important, and enterprises cannot afford to lose them. Therefore, various
organizations offer managed security services, including smart security
services and cybersecurity services.
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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.
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. The
top countries contributing to the production monitoring market in this region
include the US and Canada. These countries have sustainable and
well-established economies, which enable them to strongly invest in R&D
activities, thereby contributing to the development of new technologies. 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. Get Free 10% customization on this report @ https://www.marketsandmarkets.com/requestCustomizationNew.asp?id=176717688
Major vendors in the
global production monitoring market include Capgemini (France), Infosys
(India), Oracle (US), Hitachi (Japan), Siemens (Germany), Verizon (US), Emerson
(US), Rockwell Automation (US), AspenTech (US), Schlumberger (US), IQMS (US),
sedApta (France), Softweb Solutions (US), ORDINAL Software (France), Infinity
QS (US), TESAR (Italy), PCE Instruments (Germany), LineView (England), Monnit
(US), Coesia (Italy), RT Engineering (US), Cannon Automata (Italy), Intouch
Monitoring (England), PetroDAQ (US), and Vertech (France).
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