PUBLISHER: Bizwit Research & Consulting LLP | PRODUCT CODE: 1525327
PUBLISHER: Bizwit Research & Consulting LLP | PRODUCT CODE: 1525327
Global IoT in Chemical Industry Market Size Study, by Technology, by Application and Regional Forecasts 2022-2032
Global IoT in Chemical Industry Market is valued at approximately USD 73.54 billion in 2023 and is anticipated to grow with a healthy growth rate of more than 13.19% over the forecast period 2024-2032. IoT technology in the chemical industry encompasses web-connected smart devices equipped with processors, sensors, and communication hardware, enabling the collection, analysis, and processing of data from their surroundings. This technology enhances efficiency in chemical production by connecting sensors and devices to machines for quick and efficient service delivery. The escalating environmental concerns due to chemical emissions, the need to mitigate risks associated with chemical industries, and the increasing emphasis on the circular economy are pivotal factors driving the market's growth. Additionally, the growing adoption of industrial robots further propels the market.
The global IoT market in the chemical industry is experiencing increased demand due to rising adoption of industrial robots. These robots, integrated with IoT technologies, enhance automation, efficiency, and safety across chemical manufacturing processes. As industries prioritize operational excellence and cost-effectiveness, IoT-enabled robots offer real-time monitoring, predictive maintenance, and precise control over production variables. This trend is particularly pronounced in regions like Asia-Pacific, where industrialization and technological advancements drive significant IoT investment. The synergy between industrial robots and IoT not only improves productivity but also ensures compliance with stringent regulatory standards, thereby fueling further growth in the global IoT market for the chemical industry. However, high initial data privacy concerns and substantial initial investments pose challenges to the market's expansion. Conversely, the surge in chemical production in both developed and developing nations presents lucrative opportunities for the IoT in chemical industry market.
The key region in the Global IoT in Chemical Industry Market includes North America, Europe, Asia Pacific, Latin America, and Middle East & Africa. In 2023, Asia-Pacific dominates the Global IoT in Chemical Industry Market in terms of revenue and projected to witness fastest growth during the forecast period 2024-2032. This region's leadership is driven by rapid industrialization, technological advancements, and increasing adoption of IoT solutions across chemical manufacturing processes. Countries like China, India, and Japan lead the charge, leveraging IoT to enhance operational efficiency, improve supply chain management, and ensure regulatory compliance. The growing emphasis on smart manufacturing and digital transformation in Asia-Pacific further accelerates IoT adoption in the chemical sector. Moreover, supportive government initiatives and investments in IoT infrastructure bolster the region's position at the forefront of shaping the future of IoT applications in the chemical industry worldwide.
Major market players included in this report are:
- 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
The detailed segments and sub-segment of the market are explained below:
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
- Europe
- UK
- Germany
- France
- Spain
- Italy
- Rest of Europe
- Asia Pacific
- China
- India
- Japan
- Australia
- South Korea
- Rest of Asia Pacific
- Latin America
- Brazil
- Mexico
- Rest of Latin America
- Middle East & Africa
- Saudi Arabia
- South Africa
- Rest of Middle East & Africa
Years considered for the study are as follows:
- Historical year - 2022
- Base year - 2023
- Forecast period - 2024 to 2032
Key Takeaways:
- Market Estimates & Forecast for 10 years from 2022 to 2032.
- Annualized revenues and regional level analysis for each market segment.
- Detailed analysis of geographical landscape with Country level analysis of major regions.
- Competitive landscape with information on major players in the market.
- Analysis of key business strategies and recommendations on future market approach.
- Analysis of competitive structure of the market.
- Demand side and supply side analysis of the market.
Table of Contents
Chapter 1. Global IoT in Chemical Industry Market Executive Summary
- 1.1. Global IoT in Chemical Industry Market Size & Forecast (2022-2032)
- 1.2. Regional Summary
- 1.3. Segmental Summary
- 1.3.1. By Technology
- 1.3.2. By Application
- 1.4. Key Trends
- 1.5. Recession Impact
- 1.6. Analyst Recommendation & Conclusion
Chapter 2. Global IoT in Chemical Industry Market Definition and Research Assumptions
- 2.1. Research Objective
- 2.2. Market Definition
- 2.3. Research Assumptions
- 2.3.1. Inclusion & Exclusion
- 2.3.2. Limitations
- 2.3.3. Supply Side Analysis
- 2.3.3.1. Availability
- 2.3.3.2. Infrastructure
- 2.3.3.3. Regulatory Environment
- 2.3.3.4. Market Competition
- 2.3.3.5. Economic Viability (Consumer's Perspective)
- 2.3.4. Demand Side Analysis
- 2.3.4.1. Regulatory frameworks
- 2.3.4.2. Technological Advancements
- 2.3.4.3. Environmental Considerations
- 2.3.4.4. Consumer Awareness & Acceptance
- 2.4. Estimation Methodology
- 2.5. Years Considered for the Study
- 2.6. Currency Conversion Rates
Chapter 3. Global IoT in Chemical Industry Market Dynamics
- 3.1. Market Drivers
- 3.1.1. Growing Environmental Concerns
- 3.1.2. Increase in Adoption of Industrial Robots
- 3.1.3. Focus on Circular Economy
- 3.2. Market Challenges
- 3.2.1. High Initial Data Privacy Concern
- 3.2.2. High Initial Investment
- 3.3. Market Opportunities
- 3.3.1. Increased Chemical Production in Developed and Developing Countries
- 3.3.2. Rise in IoT Solutions Adoption
Chapter 4. Global IoT in Chemical Industry Market Industry Analysis
- 4.1. Porter's 5 Force Model
- 4.1.1. Bargaining Power of Suppliers
- 4.1.2. Bargaining Power of Buyers
- 4.1.3. Threat of New Entrants
- 4.1.4. Threat of Substitutes
- 4.1.5. Competitive Rivalry
- 4.1.6. Futuristic Approach to Porter's 5 Force Model
- 4.1.7. Porter's 5 Force Impact Analysis
- 4.2. PESTEL Analysis
- 4.2.1. Political
- 4.2.2. Economical
- 4.2.3. Social
- 4.2.4. Technological
- 4.2.5. Environmental
- 4.2.6. Legal
- 4.3. Top Investment Opportunity
- 4.4. Top Winning Strategies
- 4.5. Disruptive Trends
- 4.6. Industry Expert Perspective
- 4.7. Analyst Recommendation & Conclusion
Chapter 5. Global IoT in Chemical Industry Market Size & Forecasts by Technology 2022-2032
- 5.1. Segment Dashboard
- 5.2. Global IoT in Chemical Industry Market: Technology Revenue Trend Analysis, 2022 & 2032 (USD Million)
- 5.2.1. Machine Vision
- 5.2.2. 3D Printing
- 5.2.3. Digital Twin
- 5.2.4. Plant Asset Management
- 5.2.5. Manufacturing Execution System
- 5.2.6. Distributed Control System
- 5.2.7. Industrial Robotics
- 5.2.8. Big Data
- 5.2.9. Artificial Intelligence
- 5.2.10. AR and VR
- 5.2.11. Others
Chapter 6. Global IoT in Chemical Industry Market Size & Forecasts by Application 2022-2032
- 6.1. Segment Dashboard
- 6.2. Global IoT in Chemical Industry Market: Application Revenue Trend Analysis, 2022 & 2032 (USD Million)
- 6.2.1. Petrochemicals and Polymers
- 6.2.2. Fertilizers and Agrochemicals
- 6.2.3. Others
Chapter 7. Global IoT in Chemical Industry Market Size & Forecasts by Region 2022-2032
- 7.1. North America IoT in Chemical Industry Market
- 7.1.1. U.S. IoT in Chemical Industry Market
- 7.1.1.1. Technology breakdown size & forecasts, 2022-2032
- 7.1.1.2. Application breakdown size & forecasts, 2022-2032
- 7.1.2. Canada IoT in Chemical Industry Market
- 7.1.1. U.S. IoT in Chemical Industry Market
- 7.2. Europe IoT in Chemical Industry Market
- 7.2.1. U.K. IoT in Chemical Industry Market
- 7.2.2. Germany IoT in Chemical Industry Market
- 7.2.3. France IoT in Chemical Industry Market
- 7.2.4. Spain IoT in Chemical Industry Market
- 7.2.5. Italy IoT in Chemical Industry Market
- 7.2.6. Rest of Europe IoT in Chemical Industry Market
- 7.3. Asia-Pacific IoT in Chemical Industry Market
- 7.3.1. China IoT in Chemical Industry Market
- 7.3.2. India IoT in Chemical Industry Market
- 7.3.3. Japan IoT in Chemical Industry Market
- 7.3.4. Australia IoT in Chemical Industry Market
- 7.3.5. South Korea IoT in Chemical Industry Market
- 7.3.6. Rest of Asia-Pacific IoT in Chemical Industry Market
- 7.4. Latin America IoT in Chemical Industry Market
- 7.4.1. Brazil IoT in Chemical Industry Market
- 7.4.2. Mexico IoT in Chemical Industry Market
- 7.4.3. Rest of Latin America IoT in Chemical Industry Market
- 7.5. Middle East & Africa IoT in Chemical Industry Market
- 7.5.1. Saudi Arabia IoT in Chemical Industry Market
- 7.5.2. South Africa IoT in Chemical Industry Market
- 7.5.3. Rest of Middle East & Africa IoT in Chemical Industry Market
Chapter 8. Competitive Intelligence
- 8.1. Key Company SWOT Analysis
- 8.2. Top Market Strategies
- 8.3. Company Profiles
- 8.3.1. Altizon, Inc.
- 8.3.1.1. Key Information
- 8.3.1.2. Overview
- 8.3.1.3. Financial (Subject to Data Availability)
- 8.3.1.4. Product Summary
- 8.3.1.5. Market Strategies
- 8.3.2. Atos SE
- 8.3.3. Emerson Electric Co
- 8.3.4. Endress+Hauser AG
- 8.3.5. Fanuc Corporation
- 8.3.6. General Electric
- 8.3.7. Honeywell International Inc.
- 8.3.8. Microsoft Corporation
- 8.3.9. Mitsubishi Electric Corporation
- 8.3.10. Rockwell Automation, Inc.
- 8.3.11. Schneider Electric SE
- 8.3.12. Yokogawa Electric Corporation
- 8.3.13. ABB Ltd
- 8.3.14. Cisco Systems, Inc.
- 8.3.15. Siemens AG
- 8.3.1. Altizon, Inc.
Chapter 9. Research Process
- 9.1. Research Process
- 9.1.1. Data Mining
- 9.1.2. Analysis
- 9.1.3. Market Estimation
- 9.1.4. Validation
- 9.1.5. Publishing
- 9.2. Research Attributes
