Process manufacturing market growth predicted
The Collaborative Production Management for Process Manufacturing (CPM-P) market will approach $2 billion by 2008, a recent ARC Advisory Group study shows.
The Collaborative Production Management for Process Manufacturing (CPM-P) market will approach $2 billion by 2008, a recent ARC Advisory Group study shows. (CPM software systems are considered to be those that support and manage production activities by coordinating all manufacturing data related to operations.) The increase gives the market, which exceeded $1.1 billion in 2003, an 11% compound annual growth rate.
"Demand for CPM-P solutions has been relatively strong for the past couple of years despite the economic slowdown that has plagued much of the world," said Tom Fiske, Ph.D., Senior Analyst and author of the study. "This remarkable feat clearly demonstrates the value CPM-P solutions provide to end-users. Growth of CPM-P systems will accelerate over the next several years as CPM-P systems evolve to support users’ growing requirements to achieve exceptional performance-driven manufacturing environments," he continued.
CPM software gives process manufacturers the means to plan and schedule, track and analyze, and direct and operate their systems on a continual basis. Tangible benefits include increased throughput; reduced use of energy and raw materials; less waste generated; improved safety, quality and efficiency; and reduced costs.
A major trend supporting the growth of CPM systems, ARC says, is the enthusiastic adoption of strategic initiatives that focus on creating a performance-driven manufacturing environment. Initiatives such as real-time performance management (RPM) are helping companies optimize the enterprise by improving asset and resource utilization along with decision-making processes. CPM systems are critical to achieving these initiatives and are becoming the vehicle for increasing efficiency and gross margins.
—Jeanine Katzel, senior editor, Control Engineering, email@example.com