Plant Data Services Market - Global Industry Analysis, Size, Share, Growth, Trends, and Forecast 2017 - 2025
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Plant data services are analytical services provided to convert big data into smart data. These services provide technologies which combine fast processing of large volumes of data with global availability and web-based display of results derived from the analysis. Plant data services enable the use of modern cloud computing techniques for collecting, storing, and assessing the sensitive production data in a secure and reliable manner. Plant data services provide tools that integrate, simplify, streamline, and hasten processes such as design and engineering, installation and commissioning, and operations and maintenance. Plant data services help organize all operations of manufacturing plants and to improve the overall plant efficiency by reducing industrial network attacks using advanced technology.
Plant data services provide numerous advantages over conventionally used methods of data collection, storage, and analysis. These services provide modern cloud technologies which perform the valuable function of converting production data of a manufacturing plant into valuable information to enhance the efficiency of data analysis process. This enables corporate executives, in manufacturing plants, to take fact-based strategic decisions to speed-up their manufacturing processes, lower manufacturing costs by nearly 30%, increase the throughput upto 50%, and reduce the marketing time of products by around 30% using of Internet of Things (IoT). Plant data services also help schedule plant maintenance. These advantages offered by plant data services are expected to drive the market during the forecast period.
Few characteristics of the plant data services include smart assembly, visual factory, plant-wide visibility, and plant alarm & event resolution. Smart assembly helps reduce disconnection between manufacturing and enterprise networks by adopting converged intelligent networks. The visual factory utilizes emerging networking and connectivity solutions which provide a dashboard view of multi-plant environments to increase efficiency through the use of sensors. Plant wide visibility makes use of Internet Protocol (IP) network technology to connect enterprise applications with device level production data in real-time. This facilitates faster flow of information, faster decisions making, and market responsiveness. Plant alarm and event resolution enables users to connect with sensor-level networks that instantly detect malfunctions and issues real-time notifications when equipment fail on the production line.
Plant data services aid in predicting situations and events and allowing the respective industrial authorities to take some strategic decisions for efficient handling of the business. For example, the company Printing International has proactively improved its digital service models for customers with the help of plant data services. The plant data services continuously collects and analyzes data produced by individual printing machines, thereby improving business efficiency. However, since plant data services aid in scheduling plant maintenance, any flaw in services can lead to major consequences, affecting the plant’s performance. This can inhibit the plant data services market in the coming years. Vulnerability of data due to hacking of software systems provided by plant data services can also restrict the market during the forecast period.
Based on the purpose for which the services are provided, the plant data services market is segmented into optimize energy performance, master asset uptime, maximize process efficiency, enhance industrial cyber-security, and digitalization of industries. Plant data services used to optimize energy performance can help save energy required for manufacturing in the production plants upto 22% with the help of energy analytics techniques. These services employed to master asset uptime ensures machine and plant availability upto 99%.
Plant data services intended to maximize process efficiency uses Control Performance Analytics to optimally analyze the plant’s data. These services when utilized for enhancing industrial cyber-security, abide by specific security requirements of Industrial Control System (ICS) to avoid the risk of cyber-security. Plant data services for industrial digital future help digitalize the enterprise or business.
Based on geography, the plant data services market is segmented into North America, Latin America, Europe, Asia Pacific, and Middle East & Africa. The plant data services market in North America is expected to dominate the global market due to the flourishing industrialization and rapid adoption of advanced technology in the region.
Key players operating in the plant data services market are Siemens AG, Accenture, Deloitte Touche Tohmatsu Limited, IBM, SAP, Hewlett Packard Enterprise Development LP, Teradata, PricewaterhouseCoopers LLP.
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