North America Real Time Production Monitoring Market Forecast to 2030 - Regional Analysis - By Component, Deployment, Enterprise Size, and Industry

Description

List of Tables

The North America real time production monitoring market was valued at US$ 1,813.18 million in 2022 and is expected to reach US$ 4,543.84 million by 2030; it is estimated to grow at a CAGR of 12.2% from 2022 to 2030.

Integration of Artificial Intelligence and Machine Learning in Manufacturing Fuels the North America Real Time Production Monitoring Market

Industry 4.0 is transforming how businesses manufacture, improve, and distribute their goods. Manufacturers incorporate cutting-edge technology into their operations and manufacturing facilities, such as the Internet of Things (IoT), cloud computing and analytics, AI, and machine learning. Artificial intelligence (AI) and machine learning (ML) allow manufacturers to fully utilize the volume of information generated on the factory floor, across the business units, and from partners and third-party sources. AI and ML can create insights, providing predictability, visibility, and automation of operations and business processes. With the increase in data inputs, the integration of AI and ML in manufacturing is increasing. The real-time production monitoring system can be made significantly smarter by incorporating rules and algorithms (with user-defined parameters). By doing this, manufacturers are able to use the power of computers to quickly evaluate massive amounts of data in real time and make regular choices without the involvement of humans. A system powered by artificial intelligence (AI) can independently make conclusions in the event of the smallest deviations in manufacturing and is able to identify complex patterns and linkages in manufacturing processes. Thus, integrating AI and ML in manufacturing creates immense opportunities for the real-time production monitoring market, as real-time production monitoring allows the authority to be updated with updates on the shop floor. To fully realize the power of AI in MES, it is imperative to ensure the quality and maturity of the data recorded during production. To prevent potential problems and maximize the efficiency of AI-driven solutions in MES, real-time optimization and informed decision-making across the production cycle will require constant monitoring and maintenance of data quality. Thus, integration of AI and ML in manufacturing may become trend in the North America real-time monitoring market.

North America Real Time Production Monitoring Market Overview

The region is an early adopter of digital technology across the world. In May 2012, the Digital Government Strategy was launched to build a 21st-century government and bring digital revolution across the region to pioneer economic growth and technology adoption. In May 2020, the United States Agency for International Development (USAID) released Digital Strategy for development and humanitarian assistance in rapidly evolving digital landscape across the world. This digital strategy was built to strengthen various industries contributing to the region's economic growth. In 2021, Canada announced its first digital-government strategy to coordinate digital operations, modernize their IT systems, advance technology adoption, and improve service delivery. Thus, the rising digitalization fuels the adoption of digital solutions across North America, which fosters the demand for real time production monitoring solutions by players across the manufacturing sector to gain a competitive advantage in the market. Digitalization has led to the integration of IoT devices generating a huge amount of data regarding the production process. Real-time production monitoring solutions can help manufacturers capture and analyze the data from production machinery and make decisions from data-driven insights in real time.

North America has many software companies delivering their solutions to users across the world. According to CompTIA, more than 557,000 software and IT services companies had been established in the US in 2019. Thus, the wide presence of software providers in the region is contributing to the growth of the North America real time production monitoring market as this solution helps the manufacturers in various sectors such as transportation and consumer goods to collect and process data from the machine in real-time and helps the manufacturers to make informed business decisions to increase production output efficiently. MachineMetrics, Rockwell Automation, Vorne Industries Inc., Oracle Corporation, and Aspen Technology Inc are among the major real-time production monitoring market players in the region. These market players are continuously engaged to boost their revenue by introducing new solutions. In November 2021, Plex Systems, a Rockwell Automation Company that provides cloud-based smart manufacturing solutions, launched Plex Production Monitoring. The company claims that the solution can help manufacturers gain visibility into real-time plant floor data through information regarding real-time operational KPIs to drive continuous improvements.

North America Real Time Production Monitoring Market Revenue and Forecast to 2030 (US$ Million)

North America Real Time Production Monitoring Market Segmentation

The North America real time production monitoring market is segmented based on component, deployment, enterprise size, industry, and country.

Based on component, the North America real time production monitoring market is bifurcated into solution and services. The solution segment held a larger share in 2022.

By deployment, the North America real time production monitoring market is bifurcated into on-premise and cloud. The on-premise segment held a larger share in 2022.

By enterprise size, the North America real time production monitoring market is bifurcated into large enterprise and SMEs. The large enterprise segment held a larger share in 2022.

By industry, the North America real time production monitoring market is bifurcated into process manufacturing and discrete manufacturing. The process manufacturing segment held a larger share in 2022.

Based on country, the North America real time production monitoring market is segmented into the US, Canada, and Mexico. The US dominated the North America real time production monitoring market in 2022.

Aspen Technology Inc, Capgemini SE, Dassault Systemes SE, General Electric Co, Hitachi Ltd, Infosys Ltd, Oracle Corp, Rockwell Automation Inc, and Siemens AG are some of the leading companies operating in the North America real time production monitoring market.

Product Code: BMIRE00029693

1. Introduction

1.1 The Insight Partners Research Report Guidance
1.2 Market Segmentation

2. Executive Summary

2.1 Key Insights
2.2 Market Attractiveness

3. Research Methodology

3.1 Coverage
3.2 Secondary Research
3.3 Primary Research

4. North America Real Time Production Monitoring Market Landscape

4.1 Overview
4.2 North America PEST Analysis
4.3 Ecosystem Analysis
- 4.3.1 List of Vendors in Value Chain

5. North America Real Time Production Monitoring Market - Key Industry Dynamics

5.1 North America Real Time Production Monitoring Market - Key Industry Dynamics
5.2 Market Drivers
- 5.2.1 Advent of Industry 4.0
- 5.2.2 Increase in Use of Predictive Maintenance Across Industries
- 5.2.3 Focus on Maximizing Production Capacity
5.3 Market Restraints
- 5.3.1 Cost Constraints in Deploying Solutions in SMEs
- 5.3.2 Possibility of Data Theft Through Manufacturing Execution System (MES)
5.4 Market Opportunities
- 5.4.1 Integration of Real-Time Production Monitoring Solution with ERP Systems
- 5.4.2 Need for Energy Efficiency
5.5 Future Trends
- 5.5.1 Integration of Artificial Intelligence and Machine Learning in Manufacturing
5.6 Impact of Drivers and Restraints:

6. Real Time Production Monitoring Market - North America Market Analysis

6.1 North America Real Time Production Monitoring Market Revenue (US$ Million), 2022 - 2030
6.2 North America Real Time Production Monitoring Market Forecast and Analysis

7. North America Real Time Production Monitoring Market Analysis - Component

7.1 Solution
- 7.1.1 Overview
- 7.1.2 Solution Market, Revenue and Forecast to 2030 (US$ Million)
7.2 Services
- 7.2.1 Overview
- 7.2.2 Services Market, Revenue and Forecast to 2030 (US$ Million)

8. North America Real Time Production Monitoring Market Analysis - Deployment

8.1 On-Premise
- 8.1.1 Overview
- 8.1.2 On-Premise Market Revenue, and Forecast to 2030 (US$ Million)
8.2 Cloud
- 8.2.1 Overview
- 8.2.2 Cloud Market Revenue, and Forecast to 2030 (US$ Million)

9. North America Real Time Production Monitoring Market Analysis - Enterprise Size

9.1 Large Enterprise
- 9.1.1 Overview
- 9.1.2 Large Enterprise Market Revenue, and Forecast to 2030 (US$ Million)
9.2 SMEs
- 9.2.1 Overview
- 9.2.2 SMEs Market Revenue, and Forecast to 2030 (US$ Million)

10. North America Real Time Production Monitoring Market Analysis - Industry

10.1 Process Manufacturing
- 10.1.1 Overview
- 10.1.2 Process Manufacturing Market Revenue, and Forecast to 2030 (US$ Million)
10.2 Discrete Manufacturing
- 10.2.1 Overview
- 10.2.2 Discrete Manufacturing Market Revenue, and Forecast to 2030 (US$ Million)

11. North America Real Time Production Monitoring Market - Country Analysis

11.1 Overview
- 11.1.1 North America North America Real Time Production Monitoring Market Revenue and Forecasts and Analysis - By Country
  - 11.1.1.1 North America Real Time Production Monitoring Market Revenue and Forecasts and Analysis - By Country
  - 11.1.1.2 US: North America Real Time Production Monitoring Market Revenue and Forecasts to 2030 (US$ Mn)
    - 11.1.1.2.1 US: North America Real Time Production Monitoring Market Breakdown by Component
    - 11.1.1.2.2 US: North America Real Time Production Monitoring Market Breakdown by Deployment
    - 11.1.1.2.3 US: North America Real Time Production Monitoring Market Breakdown by Enterprise Size
    - 11.1.1.2.4 US: North America Real Time Production Monitoring Market Breakdown by Industry
  - 11.1.1.3 Canada: North America Real Time Production Monitoring Market Revenue and Forecasts to 2030 (US$ Mn)
    - 11.1.1.3.1 Canada: North America Real Time Production Monitoring Market Breakdown by Component
    - 11.1.1.3.2 Canada: North America Real Time Production Monitoring Market Breakdown by Deployment
    - 11.1.1.3.3 Canada: North America Real Time Production Monitoring Market Breakdown by Enterprise Size
    - 11.1.1.3.4 Canada: North America Real Time Production Monitoring Market Breakdown by Industry
  - 11.1.1.4 Mexico: North America Real Time Production Monitoring Market Revenue and Forecasts to 2030 (US$ Mn)
    - 11.1.1.4.1 Mexico: North America Real Time Production Monitoring Market Breakdown by Component
    - 11.1.1.4.2 Mexico: North America Real Time Production Monitoring Market Breakdown by Deployment
    - 11.1.1.4.3 Mexico: North America Real Time Production Monitoring Market Breakdown by Enterprise Size
    - 11.1.1.4.4 Mexico: North America Real Time Production Monitoring Market Breakdown by Industry

12. Competitive Landscape

12.1 Heat Map Analysis by Key Players
12.2 Company Positioning & Concentration

13. Industry Landscape

13.1 Overview
13.2 Market Initiative
13.3 New Product Development

14. Company Profiles

14.1 Capgemini SE
- 14.1.1 Key Facts
- 14.1.2 Business Description
- 14.1.3 Products and Services
- 14.1.4 Financial Overview
- 14.1.5 SWOT Analysis
- 14.1.6 Key Developments
14.2 Oracle Corp
- 14.2.1 Key Facts
- 14.2.2 Business Description
- 14.2.3 Products and Services
- 14.2.4 Financial Overview
- 14.2.5 SWOT Analysis
- 14.2.6 Key Developments
14.3 Hitachi Ltd
- 14.3.1 Key Facts
- 14.3.2 Business Description
- 14.3.3 Products and Services
- 14.3.4 Financial Overview
- 14.3.5 SWOT Analysis
- 14.3.6 Key Developments
14.4 Rockwell Automation Inc
- 14.4.1 Key Facts
- 14.4.2 Business Description
- 14.4.3 Products and Services
- 14.4.4 Financial Overview
- 14.4.5 SWOT Analysis
- 14.4.6 Key Developments
14.5 Siemens AG
- 14.5.1 Key Facts
- 14.5.2 Business Description
- 14.5.3 Products and Services
- 14.5.4 Financial Overview
- 14.5.5 SWOT Analysis
- 14.5.6 Key Developments
14.6 Dassault Systemes SE
- 14.6.1 Key Facts
- 14.6.2 Business Description
- 14.6.3 Products and Services
- 14.6.4 Financial Overview
- 14.6.5 SWOT Analysis
- 14.6.6 Key Developments
14.7 Aspen Technology Inc
- 14.7.1 Key Facts
- 14.7.2 Business Description
- 14.7.3 Products and Services
- 14.7.4 Financial Overview
- 14.7.5 SWOT Analysis
- 14.7.6 Key Developments
14.8 Infosys Ltd
- 14.8.1 Key Facts
- 14.8.2 Business Description
- 14.8.3 Products and Services
- 14.8.4 Financial Overview
- 14.8.5 SWOT Analysis
- 14.8.6 Key Developments
14.9 General Electric Co
- 14.9.1 Key Facts
- 14.9.2 Business Description
- 14.9.3 Products and Services
- 14.9.4 Financial Overview
- 14.9.5 SWOT Analysis
- 14.9.6 Key Developments

15. Appendix

15.1 About the Insight Partners
15.2 Word Index