Middle East & Africa Real Time Production Monitoring Market Forecast to 2030 - Regional Analysis - By Component (Solution and Services), Deployment (On-Premise and Cloud), Enterprise Size (Large Enterprise and SMEs), and Industry (Process Manufacturing an

Middle East & Africa Real Time Production Monitoring Market Forecast to 2030 - Regional Analysis - By Component (Solution and Services), Deployment (On-Premise and Cloud), Enterprise Size (Large Enterprise and SMEs), and Industry (Process Manufacturing and Discrete Manufacturing)

The Middle East & Africa real time production monitoring market was valued at US$ 366.84 million in 2022 and is expected to reach US$ 809.16 million by 2030; it is estimated to grow at a CAGR of 10.4% from 2022 to 2030.

Advent of Industry 4.0 Fuel the Middle East & Africa Real Time Production Monitoring Market

The advent of Industry 4.0 is driving the real-time production monitoring market. The fundamental idea behind Industry 4.0 is to switch old business practices to digital ones to streamline production processes for higher utilization and quicker turnaround times by monitoring production. Industry 4.0 supports completing the field's digital transition and brings real-time decision-making, increased productivity, flexibility, and agility. All industrial organizations, including those engaged in discrete and process manufacturing, as well as oil & gas, mining, and other industrial sectors, benefit from implementing Industry 4.0 concepts and technology. Thus, several enterprises are deploying Industry 4.0 technology.

The research done by Nokia in April 2023 unveiled the industry 4.0 maturity index for industrial campuses. Industrial and manufacturing sectors are dominated by companies that make electronics and appliances. Overall, with maturity scores of 73.1 and 79.5 out of 100, respectively, electronics and appliance manufacturers are setting the bar for Industry 4.0 technology investments and use case implementations. Further, several organizations are supporting the deployment of Industry 4.0. The United Nations Industrial Development Organization (UNIDO) assists those in utilizing the brand-new possibilities of Industry 4.0 to promote change through inclusive and sustainable industrial development. Thus, the growing adoption of Industry 4.0 focuses on technological advancements using the internet and tracking worker efficiency by collecting volumes of real-time data generated through these new capabilities. The adoption of Industry 4.0 provides a fully digitalized manufacturing ecosystem with the introduction of various digital technologies such as enterprise software, computers, machine learning, IIoT, and big data analytics by monitoring the floor activities. These technologies have immensely pushed manufacturing methodologies toward being more data-driven. Real- time production monitoring is becoming the fundamental component of data collection. This data is further used for real time insight into the production process. Such advancements in connectivity and the industrial digital landscape are driving the demand for real-time production monitoring.

Middle East & Africa Real Time Production Monitoring Market Overview

The Middle East & Africa (MEA) real time production monitoring market is segmented into Saudi Arabia, the UAE, South Africa, and the Rest of MEA. The region is focused on improving efficiency, productivity level, and innovation with the help of digitalization. There is a rising focus on transforming the manufacturing sector into high-tech industry to diversify oil-dependent economies of the region with the adoption of artificial intelligence (AI), machine learning (ML), and big data. The region's government bodies have also increased their initiatives to promote the adoption of digital technologies across all industry sectors to increase efficiency and compete in the global market. In March 2021, the Saudi Arabia government launched the Digital Government Authority (DGA) to oversee the national digital strategy across the country. In addition, the region comprises several growing economies, such as the UAE, Saudi Arabia, Oman, Kuwait, and Qatar, which are becoming potential markets for digitalization owing to a rapid rise in industrialization and adaptors of advanced technological solutions. Thus, increasing digitization coupled with growing industrialization contributes to the adoption of digital solutions such as real time production monitoring systems in the facilities to maximize their productivity.

Following are a few developments that will fuel the manufacturing sector:

In partnership with World Economic Forum, Saudi Arabia's Advanced Manufacturing Hub Strategy identified more than 800 investment opportunities worth US$ 273 billion in diversifying the industrial sector. The country aims to expand the number of factories from around 10,000 in 2023 to 36,000 by 2023, where 4,000 will be fully automated.

The Ministry of Industry and Advanced Technology (MoIAT) is focused on bolstering smart manufacturing as part of the national industrial strategy. In November 2022, MoIAT launched the first 13 Technology Transformation Programs to power up IIoT (Industrial Internet of Things) use in the country's industrial sector. These projects are focused on leveraging IIoT to increase the efficiency of manufacturing facilities.

Thus, the focus on revolutionizing Industry 4.0 and growing focus on adopting smart manufacturing propel the adoption of real time production monitoring solutions to collect and track data and information regarding the production process. The gained insights on the shop floor condition assist the manufacturer in making effective decisions that will help them increase productivity and fuel business growth. Therefore, adoption of real-time production monitoring solutions is growing in the MEA.

Middle East & Africa Real Time Production Monitoring Market Revenue and Forecast to 2030 (US$ Million)

Middle East & Africa Real Time Production Monitoring Market Segmentation

The Middle East & Africa real time production monitoring market is segmented based on component, deployment, enterprise size, industry, and country.

Based on component, the Middle East & Africa real time production monitoring market is bifurcated into solution and services. The solution segment held a larger share in 2022.

By deployment, the Middle East & Africa real time production monitoring market is bifurcated into on-premise and cloud. The on-premise segment held a larger share in 2022.

By enterprise size, the Middle East & Africa real time production monitoring market is bifurcated into large enterprise and SMEs. The large enterprise segment held a larger share in 2022.

By industry, the Middle East & Africa real time production monitoring market is bifurcated into process manufacturing and discrete manufacturing. The process manufacturing segment held a larger share in 2022.

Based on country, the Middle East & Africa real time production monitoring market is segmented into Saudi Arabia, the UAE, South Africa, and the Rest of Middle East and Africa. Saudi Arabia dominated the Middle East & Africa real time production monitoring market in 2022.

Aspen Technology Inc, Capgemini SE, Dassault Systemes SE, General Electric Co, Hitachi Ltd, Infosys Ltd, Oracle Corp, Rockwell Automation Inc, and Siemens AG are some of the leading companies operating in the Middle East & Africa real time production monitoring market.
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