Real-time process optimization market on the rise
But the food industry lags in adoption
The RPO market grew significantly over the past couple of years because of the robust global economy and the need for safer, more efficient operations. According to the study’s author, Research Analyst Tom Fiske, Ph.D, “The economic slowdown will adversely affect growth over the next year or two, but the market will provide some opportunities as many of the issues facing manufacturers, like reducing costs, are addressed well with RPO solutions.”
According to Fiske, "Currently, the food and beverage industry represents a small portion of the RPO market (well under ten percent)." The food and beverage industry is looking for ways to cut costs and fine-tune their processes. "Leading companies have embraced some RPO tools, but the industry still lags way behind other industry sectors in terms of adoption," adds Fiske.
The financial crisis and credit crunch, however, are forcing companies to reevaluate their bottom line. Manufacturers looking to reduce costs and improve profitability are focusing greater attention on efficiency improvements and their customers’ needs. APC and optimization solutions play an important role in achieving endeavors that result in higher return on assets, says the study.