Press release
IoT in Chemical Industry Market Diversely changing Market Trends with Potential Business Growth 2030 | Siemens, GENERAL ELECTRIC, ABB, Emerson Electric
The IoT in Chemical Industry Market reveals correct market share, size, and growth for the delivery of sustainable products by manufacturers. In addition, various growth strategies adopted by market players currently or in the near future, such as mergers and acquisitions, collaborations, partnerships, new product launches, and geographical expansion are also clearly stated.IoT in chemical industry emphasis on high production yield by optimization of several process factors which requires continuous monitoring which can be achieved by the adoption of IoT technology.
Market Industry Reports has published a new deep-dive market assessment study on "IoT in Chemical Industry Market - Global Industry Analysis, Size, Share, Growth, Trends, and Forecast, 2019-2030." Intensive research on the market showcases promising growth trajectory of the market. The global IoT in chemical industry market is estimated to be over US$ 39 Bn in 2018. It is anticipated to grow at a healthy CAGR from 2019 to 2030.
Prominent Players in the Global IoT in Chemical Industry Market:
The prominent players in the global IoT in chemical industry market are Siemens, GENERAL ELECTRIC, ABB, Emerson Electric Co., Honeywell International Inc, Schneider Electric, Yokogawa Electric Corporation, Rockwell Automation, Inc., FANUC America Corporation, Cisco Systems, Inc. among others.
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Technological Growth:
The key factor driving the IoT in chemical industry market is an emphasis on the digitalization of chemical plants for higher production efficiency. For instance, Denka a global chemical manufacturer started a chemical plant on Singapores Jurong Island. The plant is provided with Emerson Connected Services based on Industrial Internet of Thing (IIoT) technologies, for steam trap monitoring, which will help the plant save 7% of the cost of steam. Furthermore, in February 2017, JGC Corporation and NEC Corporation collaborated for developing Efficient Plant Operations by using AI (Artificial Intelligence) and IoT (Internet of Things) technologies. Systems based on IoT will help in detecting signs of abnormalities in plant operations and provide related services for plants serving the sectors of oil refinement, chemical, LNG (liquefied natural gas) and gas, power, resource development, and other fields.
Market Segmentation:
By Process:
Manufacturing
Packaging
Research & Development (R&D)
Others
By Chemical industry Vertical
Petrochemicals & Polymers
Fertilizers & Agrochemicals
Specialty Chemicals
Others
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Table of Contents
INTRODUCTION
Market Definition
Market Classification
Geographic Scope
Years Considered for the Study: Historical Years - 2016 & 2017; Base Year - 2018; Forecasted Years - 2019 to 2030
Currency Used
RESEARCH METHODOLOGY
Research Framework
Data Collection Technique
Data Sources
Secondary Sources
Primary Sources
Market Estimation Methodology
Bottom Up Approach
Top Down Approach
Data Validation and Triangulation
Market Forecasting Model
Limitations/Assumptions of the Study
ABSTRACT OF THE STUDY
MARKET DYNAMICS ASSESMENT
Overview
Drivers
Barriers/Challenges
Opportunities
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Market Industry Reports is a global leader in market measurement and advisory services. It is a 100% subsidiary of ExlTech. The firm has always been at the forefront of innovations to address worldwide industry trends and opportunities. We offer our clients a unique depth of market intelligence in an actionable format to move their business forward. Our analysis incorporates consumer study in more than 100 countries, providing a tactical approach to drive sustained business growth. We continue to pioneer state-of-the-art approach in research & analysis that will help you to overcome complexities and stay ahead of the curve.
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