IoT In Chemical Industry Global Market Report 2023

“IoT In Chemical Industry Global Market Report 2023 ” from The Business Research Company provides strategists, marketers and senior management with the critical information they need to assess the market.

This report focuses on iot in chemical industry market which is experiencing strong growth. The report gives a guide to the trends which will be shaping the market over the next ten years and beyond.

Reasons to Purchase

• Gain a truly global perspective with the most comprehensive report available on this market covering 50+ geographies.
• Understand how the market has been affected by the COVID-19 and how it is responding as the impact of the virus abates.
• Assess the Russia - Ukraine war's impact on agriculture, energy and mineral commodity supply and its direct and indirect impact on the market.
• Measure the impact of high global inflation on market growth.
• Create regional and country strategies on the basis of local data and analysis.
• Identify growth segments for investment.
• Outperform competitors using forecast data and the drivers and trends shaping the market.
• Understand customers based on the latest market shares.
• Benchmark performance against key competitors.
• Suitable for supporting your internal and external presentations with reliable high quality data and analysis
• Report will be updated with the latest data and delivered to you within 3-5 working days of order along with an Excel data sheet for easy data extraction and analysis.
• All data from the report will also be delivered in an excel dashboard format.

Where is the largest and fastest growing market for iot in chemical industry? How does the market relate to the overall economy, demography and other similar markets? What forces will shape the market going forward? “The iot in chemical industry market global report ” from The Business Research Company answers all these questions and many more.

The report covers market characteristics, size and growth, segmentation, regional and country breakdowns, competitive landscape, market shares, trends and strategies for this market. It traces the market's historic and forecast market growth by geography.

• The market characteristics section of the report defines and explains the market.
• The market size section gives the market size ($b) covering both the historic growth of the market, and forecasting its development.
• The forecasts are made after considering the major factors currently impacting the market. These include:

The impact of sanctions, supply chain disruptions, and altered demand for goods and services due to the Russian Ukraine war, impacting various macro-economic factors and parameters in the Eastern European region and its subsequent effect on global markets.

The impact of higher inflation in many countries and the resulting spike in interest rates.

The continued but declining impact of COVID-19 on supply chains and consumption patterns.

• Market segmentations break down the market into sub markets.
• The regional and country breakdowns section gives an analysis of the market in each geography and the size of the market by geography and compares their historic and forecast growth. It covers the growth trajectory of COVID-19 for all regions, key developed countries and major emerging markets.
• The competitive landscape chapter gives a description of the competitive nature of the market, market shares, and a description of the leading companies. Key financial deals which have shaped the market in recent years are identified.
• The trends and strategies section analyses the shape of the market as it emerges from the crisis and suggests how companies can grow as the market recovers.

Scope

Markets Covered:

• 1) By Technology: Machine Vision; 3D Printing; Digitial Twin; Plant Asset Management; Manufacturing Execution System; Distributed Control System; Industrial robotics; Big Data; Artificial Intelligence; AR or VR

• 2) By Process: Research and Development; Procurement; Packaging; Supply Chain Management and Logistics

• 3) By End User: Metals and Mining;A Food and Beverages; Chemical; Pharmaceutical; Pulp and Paper

• Companies Mentioned: Siemens AG; General Electric Company; ABB Ltd.; Rockwell Automation Inc.; Emerson Electric Co.

• Countries: Australia; Brazil; China; France; Germany; India; Indonesia; Japan; Russia; South Korea; UK; USA

• Regions: Asia-Pacific; Western Europe; Eastern Europe; North America; South America; Middle East; Africa

• Time series: Five years historic and ten years forecast.

• Data: Ratios of market size and growth to related markets, GDP proportions, expenditure per capita,

• Data segmentations: country and regional historic and forecast data, market share of competitors, market segments.

• Sourcing and Referencing: Data and analysis throughout the report is sourced using end notes.

• Delivery format: PDF, Word and Excel Data Dashboard.

Executive Summary

Major players in the iot in chemical industry market are Siemens AG, General Electric Company, ABB Ltd., Rockwell Automation Inc., Emerson Electric Co., Yokogawa Electric Corporation, Honeywell International Inc., Mitsubishi Electric Corporation, Schneider Electric SE, Altizon Inc., Cisco Systems Inc., Microsoft Corporation, Atos SE, IBM Corporation, and Robert Bosch GmbH.

The global IoT in chemical industry market is expected to grow from $63.31 billion in 2022 to $70.31 billion in 2023 at a compound annual growth rate (CAGR) of 11.1%. The Russia-Ukraine war disrupted the chances of global economic recovery from the COVID-19 pandemic, at least in the short term. The war between these two countries has led to economic sanctions on multiple countries, a surge in commodity prices, and supply chain disruptions, causing inflation across goods and services and affecting many markets across the globe. The IoT in chemical industry market is expected to grow to $106.62 billion in 2027 at a CAGR of 11.0%.

The IoT in chemical industry market consists of revenues earned by entities by providing enabling technologies and operational technologies for chemical industry operations. The market value includes the value of related goods sold by the service provider or included within the service offering. The IoT in chemical industry market also includes sales of hardware such as cameras, robots, and IoT systems used in providing IoT services in chemical industry. Values in this market are 'factory gate' values, that is the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors, and retailers) or directly to end customers. The value of goods in this market includes related services sold by the creators of the goods.

IoT in chemical industry refers to IoT-enabled solutions that collect data from equipment to monitor variables that control process performance and product quality. It can be used by chemical engineers to enhance chemical process control to raise the chance of repeatable results while lowering the likelihood of production pauses or shutdowns.

Asia-Pacific was the largest region in the IoT in chemical industry market in 2022. The regions covered in the IoT in chemical industry market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa.

The main technologies involved in the IoT in the chemical industry are machine vision, 3D printing, digital twins, plant asset management, manufacturing execution systems, distributed control systems, industrial robotics, big data, artificial intelligence, and AR and VR. Machine vision refers to a technique that enables commercial machinery to 'see' what it is doing and quickly decide depending on what it observes. The several processes include research and development, procurement, packaging, supply chain management, and logistics that are used by various end users such as metals and mining, food and beverages, chemical, pharmaceutical, pulp, and paper.

The increasing adoption of industrial robots is expected to propel the growth of the IoT in the chemical industry market. An industrial robot has been designed to automate manufacturing operations such as those required by a constantly moving assembly line. They are installed in fixed positions within an industrial facility. The internet of things will aid in the transformation of the chemical sector. The data collected from IoT-enabled devices assist in forecasting future outcomes and trends, as well as predicting machine maintenance requirements in a production line of chemical industries. For instance, in October 2022, according to the International Federation of Robotics, a Germany-based non-profit organization, nearly 517,385 new industrial robots had been installed in companies worldwide in 2021 which is a 31% year-on-year increase and outnumbers the pre-pandemic record of robot installation in 2018 by 22%. At the present, the global fleet of operational robots has reached a new high of over 3.5 million units. Therefore, an increase in the adoption of industrial robots will drive the IoT in the chemical industry market.

Deployment of IoT platforms has emerged as a key trend gaining popularity in the IoT in the chemical industry market. Major companies operating in the IoT in the chemical industry are focused on the deployment of industrial IoT platforms at chemical plants to sustain their position in the market. For instance, in June 2021, Fujitsu Limited, a Japan-based information and communications technology equipment and services corporation, deployed its IoT data analytics and visualization platform at Ricoh Company Ltd's chemical plant in Japan, which it is referring to as a 'smart factory', to assist Ricoh in tracking changes in plant operations and product quality. The new system connects to smartphones, tablets, and other devices using Fujitsu's COLMINA-branded plant visualization technology for gathering and processing production data. The state of the plant and the caliber of its output may be viewed 'anytime and anywhere'. Ricoh Company, Ltd is a Japan-based imaging and electronics company.

In July 2020, TE Connectivity, a Switzerland-based technology company that designs and manufactures connectors and sensors acquired Linx Technologies for an undisclosed amount. This acquisition will increase TE's product line's competitiveness in the IoT market. Linx Technologies is a US-based supplier of RF components for the Internet of Things (IoT), and solutions to the wide spectrum of issues faced by the chemical industry.

The countries covered in the IoT in chemical industry market report are: Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA.

The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified).

The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.

The IoT in chemical industry market research report is one of a series of new reports from The Business Research Company that provides IoT in chemical industry market statistics, including IoT in chemical industry global market size, regional shares, competitors with a IoT in chemical industry market share, detailed IoT in chemical industry market segments, market trends and opportunities, and any further data you may need to thrive in the IoT in chemical industry. This IoT in chemical industry market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenario of the industry.