IoT in Chemical Industry Market By Technology (Industrial Robotics, Big Data, Artificial Intelligence, AR and VR, Machine Vision, 3D Printing, Digital Twin, Plant Asset Management, Manufacturing Execution System, Distributed Control System, Others), By Application (Petrochemicals and Polymers, Fertilizers and Agrochemicals, Others): Global Opportunity Analysis and Industry Forecast, 2021-2031
The IoT in chemical industry market was valued at $57.4 billion in 2021, and is projected to reach $193.9 billion by 2031, growing at a CAGR of 13.3% from 2022 to 2031.
Internet of Things (IoT) is a network of interconnected devices that enable communication and transfer of data by use of embedded sensors. IoT platform includes smart devices connected through web that collect, analyze, and manage data using tools, such as sensors, communication hardware, and processors. IoT represents new reality of production. IoT in the chemical industry helps to improve the productivity of work and enhance the operational efficiency of the chemical processes, which has led to its massive use by numerous players involved in the chemical production business. The IoT offers forward integration, superior predictive maintenance, and quality assurance, which is predicted to foster the IoT in chemical industry market growth in coming years.
For the purpose of analysis, the IoT in chemical industry market scope covers technology type, application, and region. The report outlines the details about IoT in chemical industry technology types including industrial, big data, artificial intelligence, AR and VR, machine vision, 3D printing, digital twin, plant asset management, manufacturing execution system, distributed control system, and others. The use of IoT in chemical industry in various applications, including petrochemicals & polymers, fertilizers & agrochemicals, and others are analyzed in the report. Moreover, it analyzes the current market trends of IoT in chemical industry across different regions, such as North America, Europe, Asia-Pacific-Pacific, and LAMEA and suggests the future growth opportunities.
The growth drivers, restraints, and opportunities are explained in the report to better understand the market dynamics. This report further highlights the key areas of investment. In addition, it includes Porter’s five forces analysis to understand the competitive scenario of the industry and role of each stakeholder. Value chain analysis for this industry, which includes R&D, components manufacturers, assembly, programming & testing, marketing & sales, customers, and post-sales services, is explained. The report features the strategies adopted by key market players to maintain their foothold in the market. Furthermore, it highlights the competitive landscape of the key players to increase their market share and sustain intense competition in the industry.
In addition, the report covers profiles of key industry participants such as ABB Ltd; Altizon, Inc; Atos SE; Cisco Systems, Inc.; Emerson Electric Co; Endress+Hauser AG; Fanuc Corporation; General Electric; Honeywell International Inc; Microsoft Corporation; Mitsubishi Electric Corporation; Rockwell Automation, Inc.; Schneider Electric SE; Siemens AG; and Yokogawa Electric Corporation.
Key Benefits For Stakeholders
This report provides a quantitative analysis of the market segments, current trends, estimations, and dynamics of the iot in chemical industry market analysis from 2021 to 2031 to identify the prevailing iot in chemical industry market opportunities.
The market research is offered along with information related to key drivers, restraints, and opportunities.
Porter's five forces analysis highlights the potency of buyers and suppliers to enable stakeholders make profit-oriented business decisions and strengthen their supplier-buyer network.
In-depth analysis of the iot in chemical industry market segmentation assists to determine the prevailing market opportunities.
Major countries in each region are mapped according to their revenue contribution to the global market.
Market player positioning facilitates benchmarking and provides a clear understanding of the present position of the market players.
The report includes the analysis of the regional as well as global iot in chemical industry market trends, key players, market segments, application areas, and market growth strategies.
Key Market Segments
By Technology
Machine Vision
3D Printing
Digital Twin
Plant Asset Management
Manufacturing Execution System
Distributed Control System
Industrial Robotics
Big Data
Artificial Intelligence
AR and VR
Others
By Application
Petrochemicals and Polymers
Fertilizers and Agrochemicals
Others
By Region
North America
U.S.
Canada
Mexico
Europe
Germany
France
UK
Italy
Spain
Rest Of Europe
Asia-Pacific
China
Japan
India
South Korea
Australia
Rest Of Asia-Pacific
LAMEA
Brazil
South Africa,
Saudi Arabia
Rest Of LAMEA
Key Market Players
ABB Ltd
ALTIZON INC
Atos SE
Cisco Systems Inc.
Emerson Electric Co.
ENDRESS+HAUSER AG
FANUC CORPORATION
General Electric
Honeywell International Inc.
Microsoft Corporation
Mitsubishi Electric Corporation
Rockwell Automation Inc.
SCHNEIDER ELECTRIC SE
Siemens AG
Yokogawa Electric Corporation
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