Collaborative Production Management Market for Process Manufacturing (CPM-P) is expected to grow at an annual growth rate of about 14% over the next five years. The market was slightly greater than $1.9 billion in 2007 and is forecasted to exceed $3.6 billion in 2012, according to a new ARC Advisory Group study.
"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," said Senior Analyst Tom Fiske, Arc Advisory Group.
Many organizations are forming teams to facilitate collaboration between corporate IT and manufacturing automation groups explains ARC. Part of the goal is to find common ways to solve widespread business challenges. Another part of the goal is to lower the total cost of ownership by decreasing deployment efforts and reducing the number of applications that need to be supported and maintained.
Manufacturers are also turning to CPM as way to facilitate compliance as well.
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