Internet of Things (IoT) in Chemical Industry

Global Internet of Things (IoT) in Chemical Industry Market to Reach US$120.4 Billion by 2030

The global market for Internet of Things (IoT) in Chemical Industry estimated at US$75.5 Billion in the year 2024, is expected to reach US$120.4 Billion by 2030, growing at a CAGR of 8.1% over the analysis period 2024-2030. Enabling Technology, one of the segments analyzed in the report, is expected to record a 8.6% CAGR and reach US$72.3 Billion by the end of the analysis period. Growth in the Operational Technology segment is estimated at 7.3% CAGR over the analysis period.

The U.S. Market is Estimated at US$20.5 Billion While China is Forecast to Grow at 7.6% CAGR

The Internet of Things (IoT) in Chemical Industry market in the U.S. is estimated at US$20.5 Billion in the year 2024. China, the world`s second largest economy, is forecast to reach a projected market size of US$18.7 Billion by the year 2030 trailing a CAGR of 7.6% over the analysis period 2024-2030. Among the other noteworthy geographic markets are Japan and Canada, each forecast to grow at a CAGR of 7.3% and 6.7% respectively over the analysis period. Within Europe, Germany is forecast to grow at approximately 6.2% CAGR.

Global Internet of Things (IoT) in Chemical Industry Market - Key Trends and Drivers Summarized

How Is the Internet of Things (IoT) Revolutionizing the Chemical Industry?

The Internet of Things (IoT) is reshaping the chemical industry by enabling real-time monitoring, automation, and optimization of chemical production processes. Through connected devices and sensors, IoT solutions provide real-time data on critical parameters such as temperature, pressure, and chemical composition, helping to improve operational efficiency, ensure safety, and enhance product quality. IoT-enabled systems help chemical manufacturers automate workflows and integrate predictive maintenance strategies, which reduce equipment downtime and enhance overall production reliability. As the chemical industry becomes more data-driven, IoT is a key enabler of continuous improvement in productivity, safety, and sustainability, allowing for more efficient use of resources and a reduction in waste.

How Are Technological Advancements Shaping IoT Adoption in the Chemical Industry?

Technological advancements in sensor technology, edge computing, and data analytics are playing a crucial role in expanding the capabilities of IoT in the chemical industry. Sensors are now more accurate, durable, and capable of operating in harsh chemical environments, providing critical data in real-time. Edge computing allows data processing closer to the source, reducing latency and enabling faster decision-making in real-time operations. Machine learning algorithms analyze data from connected devices to detect inefficiencies, predict equipment failures, and identify potential safety hazards before they escalate into critical issues. Cloud computing platforms further enhance these capabilities by enabling remote monitoring and analysis, facilitating better resource management, and enhancing the scalability of IoT solutions.

How Do Market Segments Define the Growth of IoT in the Chemical Industry?

Solution types include software, hardware, and services, with IoT platforms and predictive maintenance software being the most widely adopted due to their role in improving operational efficiency. Applications of IoT in the chemical industry include asset tracking, remote monitoring, predictive maintenance, and process optimization. Predictive maintenance is particularly significant in reducing unplanned downtime and equipment failure, making it the largest segment. End-users range from large-scale chemical manufacturers to specialty chemical companies, with large-scale manufacturers adopting IoT solutions at a faster rate due to the complexities involved in scaling their operations. The market is growing rapidly in regions such as North America, Europe, and Asia-Pacific, where industrial digitalization is a major focus.

What Factors Are Driving the Growth in the IoT in Chemical Industry Market?

The growth in the IoT in the chemical industry market is driven by several factors, including the increasing need for operational efficiency, enhanced safety protocols, and advancements in IoT technologies. As chemical manufacturers strive to improve productivity while ensuring compliance with stringent safety and environmental regulations, IoT offers a solution by enabling real-time monitoring and automation. Technological innovations such as edge computing and machine learning are further fueling growth by providing more sophisticated data analysis tools, allowing companies to optimize processes and prevent equipment failures. Additionally, the rising demand for predictive maintenance and asset tracking in large-scale chemical operations is driving the adoption of IoT solutions across the industry.

SCOPE OF STUDY:

The report analyzes the Internet of Things (IoT) in Chemical Industry market in terms of units by the following Segments, and Geographic Regions/Countries:

Segments:
Type (Enabling Technology, Operational Technology); Vertical (Chemicals, Pharmaceuticals, Food & Beverage, Paper & Pulp, Mining & Metals)

Geographic Regions/Countries:
World; United States; Canada; Japan; China; Europe (France; Germany; Italy; United Kingdom; and Rest of Europe); Asia-Pacific; Rest of World.

Select Competitors (Total 37 Featured) -

• 3D Systems Corporation
• ABB Ltd.
• Atos SE
• Cisco Systems, Inc.
• Denso Corporation
• Emerson Electric Co.
• Fanuc Corporation
• Fortive
• General Electric Co.
• Hewlett Packard Enterprise Company
• Honeywell International Inc.
• International Business Machines Corporation
• Microsoft Corporation
• Mitsubishi Electric Corporation
• Qualcomm Inc.
• Rockwell Automation, Inc.
• Samsung Electronics Co. Ltd
• Schneider Electric SE
• Siemens AG
• Stratasys Ltd.
• Texas Instruments Inc.
• Yokogawa Electric Corporation

TARIFF IMPACT FACTOR

Our new release incorporates impact of tariffs on geographical markets as we predict a shift in competitiveness of companies based on HQ country, manufacturing base, exports and imports (finished goods and OEM). This intricate and multifaceted market reality will impact competitors by artificially increasing the COGS, reducing profitability, reconfiguring supply chains, amongst other micro and macro market dynamics.

We are diligently following expert opinions of leading Chief Economists (14,949), Think Tanks (62), Trade & Industry bodies (171) worldwide, as they assess impact and address new market realities for their ecosystems. Experts and economists from every major country are tracked for their opinions on tariffs and how they will impact their countries.

We expect this chaos to play out over the next 2-3 months and a new world order is established with more clarity. We are tracking these developments on a real time basis.

As we release this report, U.S. Trade Representatives are pushing their counterparts in 183 countries for an early closure to bilateral tariff negotiations. Most of the major trading partners also have initiated trade agreements with other key trading nations, outside of those in the works with the United States. We are tracking such secondary fallouts as supply chains shift.

To our valued clients, we say, we have your back. We will present a simplified market reassessment by incorporating these changes!

APRIL 2025: NEGOTIATION PHASE

Our April release addresses the impact of tariffs on the overall global market and presents market adjustments by geography. Our trajectories are based on historic data and evolving market impacting factors.

JULY 2025 FINAL TARIFF RESET

Complimentary Update: Our clients will also receive a complimentary update in July after a final reset is announced between nations. The final updated version incorporates clearly defined Tariff Impact Analyses.

Reciprocal and Bilateral Trade & Tariff Impact Analyses:

USA
CHINA
MEXICO
CANADA
EU
JAPAN
INDIA
176 OTHER COUNTRIES.

Leading Economists - Our knowledge base tracks 14,949 economists including a select group of most influential Chief Economists of nations, think tanks, trade and industry bodies, big enterprises, and domain experts who are sharing views on the fallout of this unprecedented paradigm shift in the global econometric landscape. Most of our 16,491+ reports have incorporated this two-stage release schedule based on milestones.

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