The market for collaborative production management (CPM) for process manufacturing will grow at a 12% compound annual growth rate (CAGR) of 12% between now and 2011, according to the ARC Advisory Group.
These integrated software applications provide manufacturers with the means to plan and schedule, track and analyze, and direct and manage their operations. The CPM market for process was about $1.6 billion in 2006, and that number should climb to $2.8 billion in 2011, ARC predicts.
The growth rate will be even faster for discrete manufacturers, with ARC predicting a CAGR of 14.5% over the same period. The CPM market for discrete was $860.5 million in 2006, according to ARC, and is forecasted to be $1.7 billion in 2011.