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IoT In Chemical Industry Global Market Report 2024 - By Trends, Size, Key Factors, Share, Forecast To 2033

06-11-2024 07:58 AM CET | Industry, Real Estate & Construction

Press release from: The Business research company

IoT In Chemical Industry Market

IoT In Chemical Industry Market

"The Business Research Company has recently revised its global market reports, now incorporating the most current data for 2024 along with projections extending up to 2033.

IoT In Chemical Industry Global Market Report 2024 by The Business Research Company offers comprehensive market insights, empowering businesses with a competitive edge. It includes detailed estimates for numerous segments and sub-segments, providing valuable strategic guidance.

The Market Size Is Expected To Reach $122.17 billion In 2028 At A CAGR Of 11.5%.
The iot in chemical industry market size has grown rapidly in recent years. It will grow from $70.85 billion in 2023 to $79.01 billion in 2024 at a compound annual growth rate (CAGR) of 11.5%. The growth in the historic period can be attributed to process optimization, asset management, regulatory compliance, predictive maintenance, energy efficiency, safety monitoring, data analytics.

The iot in chemical industry market size is expected to see rapid growth in the next few years. It will grow to $122.17 billion in 2028 at a compound annual growth rate (CAGR) of 11.5%. The growth in the forecast period can be attributed to smart chemical plants, environmental monitoring, cybersecurity solutions, circular economy initiatives, safety and security applications.. Major trends in the forecast period include smart manufacturing and industry 4.0, data analytics and ai integration, collaboration with technology providers, advanced sensors, digital twins, blockchain integration.

Request A Sample Of This Report -
https://www.thebusinessresearchcompany.com/sample.aspx?id=9193&type=smp

IoT In Chemical Industry Market Major Segments
The iot in chemical industry market covered in this report is segmented -
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, Food and Beverages, Chemical, Pharmaceutical, Pulp and Paper

Key Driver - Rising Adoption Of Industrial Robots Drives Growth In The IOT In The Chemical Industry Market
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 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.

Customise This Report As Per Your Requirements -
https://www.thebusinessresearchcompany.com/Customise?id=9193&type=smp

Prominent Trend - IOT Platforms Gain Traction In The Chemical Industry
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.

IoT In Chemical Industry Market Players
Major companies operating in the iot in chemical industry market report are Siemens AG, ABB Ltd., Altizon Inc., Atos SE, Cisco Systems Inc., General Electric Company, Honeywell International Inc., International Business Machines Corporation, Microsoft Corporation, Mitsubishi Electric Corporation, Robert Bosch GmbH, Rockwell Automation Inc., Schneider Electric SE, Yokogawa Electric Corporation, Accenture* plc, SAP SE, Oracle Corporation, PTC Inc., Hitachi Ltd., Intel Corporation, Huawei Technologies Co. Ltd., Dell Technologies Inc., Hewlett Packard Enterprise Development LP, Fujitsu Limited, NEC Corporation, Infosys Limited, Wipro Limited, Tata Consultancy Services Limited, Aspen Technology Inc., Emerson Electric Co., OSIsoft LLC .

View The Full Report Here -
https://www.thebusinessresearchcompany.com/report/iot-in-chemical-industry-global-market-report

Largest And Fastest Growing Region In The Market
Asia-Pacific was the largest region in the IoT in the chemical industry market in 2023. The regions covered in the iot in chemical industry market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa

The Table Of Content For The Market Report Include:
1. Executive Summary
2. IoT In Chemical Industry Market Report Structure
3. IoT In Chemical Industry Market Trends And Strategies
4. IoT In Chemical Industry Market - Macro Economic Scenario
5. IoT In Chemical Industry Market Size And Growth
…..
27. IoT In Chemical Industry Market Competitor Landscape And Company Profiles
28. Key Mergers And Acquisitions
29. Future Outlook and Potential Analysis
30. Appendix

Contact Us:
The Business Research Company
Europe: +44 207 1930 708
Asia: +91 88972 63534
Americas: +1 315 623 0293
Email: info@tbrc.info

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Learn More About The Business Research Company
The Business Research Company (www.thebusinessresearchcompany.com) is a leading market intelligence firm renowned for its expertise in company, market, and consumer research. With a global presence, TBRC's consultants specialize in diverse industries such as manufacturing, healthcare, financial services, chemicals, and technology, providing unparalleled insights and strategic guidance to clients worldwide.

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