Collaborative Production Management Collaborative Production Management for Process Industries Expected to Grow
Pent up demand for manufacturing solutions that were postponed influences the CPM market for the Process industries, says ARC Advisory Group.
According to a new study by the ARC Advisory Group, the past couple years has been a tumultuous time for the Collaborative Production Management (CPM) market for the Process Industries. It did not feel the financial crisis and the resultant recession until 2009, contracting for the first time in recent memory. The contraction was not long lived however, as the market rebounded strongly in 2010. The CPM market for process industries is expected to exceed US$ 4 billion by 2015, according to a new study by the ARC Advisory Group.
“Currently, there is pent up demand for manufacturing solutions that were postponed during the recession. With the improvement of the global economy, companies are loosening the purse strings and once again investing in CPM solutions. The next big focus area will be in production applications areas as companies replace homegrown systems and upgrade outdated systems and move plant operations to the next level that allows them to compete more profitably on a global basis,” according to Senior Analyst Tom Fiske, the principal author of “Collaborative Production Management Systems for the Process Industries Worldwide Outlook”.