According to our latest study on “Real Time Production Monitoring Market Forecast to 2030 – Market Size and Forecasts (2020 - 2030), Global and Regional Share, Trends, and Growth Opportunity Analysis Report Coverage – by Component, Deployment Mode, Enterprise Size, and Industry,” the Real Time Production Monitoring market size is expected to reach US$ 12.56 billion by 2030 from 5.13 billion in 2022, at an estimated CAGR of 11.8% from 2022 to 2030.

Integration of real time production monitoring systems with ERP solutions to Provide Lucrative Opportunities for Real Time Production Monitoring Market Growth During Forecast Period

ERP is a complete system that enables enterprises to manage suppliers, monitor supply chain activity in real time, and streamline several other business procedures. ERP offers a comprehensive company perspective, considering areas such as finance, inventory management, supply chain, and production. And real time production monitoring software gathers and examines data in real time from the production floor. Thus, integration of real time production monitoring solutions with ERP systems will benefit enterprises in various ways. Production management is considerably enhanced when ERP and real time production monitoring solutions are connected effectively. With the help of this integration, batch production jobs may be effectively planned and managed by being connected to a particular management workspace.

Further, integrating ensures enhanced data quality and traceability and assures that production data is accurate and updated. Costs can be significantly decreased by putting this integration into practice. The integrated solution enhances return on investment by providing better resource management and more effective material utilization.

Moreover, several players across the globe are providing systems that can map data from ERP and real time production monitoring solutions. For instance, in April 2021, Dassault Systems introduced DELMIAworks to map data from ERPs to shop-floor MES. Thus, integration with ERP is expected to create an opportunity for the real time production monitoring market.

Key Findings of Real Time Production Monitoring Market Study:

The Real Time Production Monitoring market is categorized on the basis of component, deployment mode, enterprise size, industry, and geography. Based on component, the real time production monitoring market is segmented into solution and services. By deployment model, the real time production monitoring market is segmented into on-premise and cloud. Based on enterprise size, the real time production monitoring market is categorized into large enterprises and SMEs. Based on industry, the real time production monitoring market is categorized into discrete manufacturing and process manufacturing. By geography, the Real Time Production Monitoring market is segmented into North America, Europe, Asia Pacific, Middle East & Africa, and South America.

Based on component, the real time production monitoring market is segmented into solution and services. The solution segment held the largest share of the real time production monitoring market in 2022. Real time production monitoring solutions play a critical role in manufacturing by managing and controlling production operations on the shop floor. Real time production monitoring solution provide real time visibility, tracking, and management of manufacturing processes to improve efficiency, quality, and productivity.

Real time tracking of production activities includes machine status, work orders, and employee performance. These solution offer various components and functionalities, such as creation, assignment, and tracking of work orders, including scheduling and prioritization; monitoring and managing raw materials, components, and finished goods throughout production; ensuring product quality through quality control checks, inspections, and compliance with industry standards; tracking and recording the genealogy of products, including raw materials used and processes applied, for quality control and compliance purposes; and collecting data from various sensors, machines, and manual inputs for real time analysis and decision-making.

Leading MES providers having real time production monitoring component include Siemens MES, Dassault Systemes DELMIA, Rockwell Automation, FactoryTalk Production Centre, and GE Digital Predix MES. The real time production monitoring system provides real time visibility into the production operations. It displays the status of machines, work orders, inventory levels, and production schedules on a centralized dashboard. Operators and supervisors can monitor the shop floor activities and track progress in real time. Hence, the solution segment of the real time production monitoring market is growing significantly.

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