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.
This study by TMR is all-encompassing framework of the dynamics of the market. It mainly comprises critical assessment of consumers' or customers' journeys, current and emerging avenues, and strategic framework to enable CXOs take effective decisions.
Our key underpinning is the 4-Quadrant Framework EIRS that offers detailed visualization of four elements:
- Customer Experience Maps
- Insights and Tools based on data-driven research
- Actionable Results to meet all the business priorities
- Strategic Frameworks to boost the growth journey
The study strives to evaluate the current and future growth prospects, untapped avenues, factors shaping their revenue potential, and demand and consumption patterns in the global market by breaking it into region-wise assessment.
The following regional segments are covered comprehensively:
- North America
- Asia Pacific
- Latin America
- The Middle East and Africa
The EIRS quadrant framework in the report sums up our wide spectrum of data-driven research and advisory for CXOs to help them make better decisions for their businesses and stay as leaders.
Below is a snapshot of these quadrants.
1. Customer Experience Map
The study offers an in-depth assessment of various customers’ journeys pertinent to the market and its segments. It offers various customer impressions about the products and service use. The analysis takes a closer look at their pain points and fears across various customer touchpoints. The consultation and business intelligence solutions will help interested stakeholders, including CXOs, define customer experience maps tailored to their needs. This will help them aim at boosting customer engagement with their brands.
2. Insights and Tools
The various insights in the study are based on elaborate cycles of primary and secondary research the analysts engage with during the course of research. The analysts and expert advisors at TMR adopt industry-wide, quantitative customer insights tools and market projection methodologies to arrive at results, which makes them reliable. The study not just offers estimations and projections, but also an uncluttered evaluation of these figures on the market dynamics. These insights merge data-driven research framework with qualitative consultations for business owners, CXOs, policy makers, and investors. The insights will also help their customers overcome their fears.
3. Actionable Results
The findings presented in this study by TMR are an indispensable guide for meeting all business priorities, including mission-critical ones. The results when implemented have shown tangible benefits to business stakeholders and industry entities to boost their performance. The results are tailored to fit the individual strategic framework. The study also illustrates some of the recent case studies on solving various problems by companies they faced in their consolidation journey.
4. Strategic Frameworks
The study equips businesses and anyone interested in the market to frame broad strategic frameworks. This has become more important than ever, given the current uncertainty due to COVID-19. The study deliberates on consultations to overcome various such past disruptions and foresees new ones to boost the preparedness. The frameworks help businesses plan their strategic alignments for recovery from such disruptive trends. Further, analysts at TMR helps you break down the complex scenario and bring resiliency in uncertain times.
The report sheds light on various aspects and answers pertinent questions on the market. Some of the important ones are:
1. What can be the best investment choices for venturing into new product and service lines?
2. What value propositions should businesses aim at while making new research and development funding?
3. Which regulations will be most helpful for stakeholders to boost their supply chain network?
4. Which regions might see the demand maturing in certain segments in near future?
5. What are the some of the best cost optimization strategies with vendors that some well-entrenched players have gained success with?
6. Which are the key perspectives that the C-suite are leveraging to move businesses to new growth trajectory?
7. Which government regulations might challenge the status of key regional markets?
8. How will the emerging political and economic scenario affect opportunities in key growth areas?
9. What are some of the value-grab opportunities in various segments?
10. What will be the barrier to entry for new players in the market?
Note: Although care has been taken to maintain the highest levels of accuracy in TMR’s reports, recent market/vendor-specific changes may take time to reflect in the analysis.