The collaborative production management market for process manufacturing (CPM-P) is expected to grow at a compound annual growth rate of about 14 percent over the next five years. The market was slightly greater than $1.9bn in 2007 and is expected to exceed $3.6bn in 2012, according to a new ARC Advisory Group study.
For the past several years, the demand for CPM-P solutions has been strong and accelerating. In fact, 2007 experienced one of the largest increases in a long time. "The market grew by an unprecedented amount last year. Many factors contributed to the stellar growth including continued economic success, the shifting of funds for corporate business systems to plant systems, greater integration and interoperability of systems, and the need for companies to improve real-time plant performance visibility," says senior analyst Tom Fiske, the study's principal author.
Source: ARC Advisory Group, http://www.arcweb.com
Enjoy curated articles directly to your inbox.