Internet of Things (IoT) in the chemical Market Trends 2025-2034: Insights into Growth and Strategic Opportunities Ahead
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How Will the Internet of Things (IoT) in the chemical Market’s Growth Rate Evolve Over the Forecast Period to 2034?
The Internet of Things (IoT) in the chemical market has expanded rapidly in recent years and is forecasted to rise from $74.54 billion in 2024 to $84.77 billion in 2025, with a CAGR of 13.7%. Key drivers of historical growth include process optimization and automation, regulatory compliance, enhanced supply chain visibility, asset management with predictive maintenance, and a focus on energy efficiency.
The internet of things (IoT) in the chemical market is set to witness rapid growth, reaching $146.84 billion by 2029 with a CAGR of 14.7%. Factors contributing to this growth include AI integration, real-time edge computing, blockchain-driven supply chain transparency, collaborative industry ecosystems, and advancements in smart packaging and logistics. Notable trends include next-generation sensor technologies, digital twins, 5G-powered low-latency solutions, heightened focus on cybersecurity, and augmented reality applications for maintenance.
Which Factors Are Enhancing the Growth of the internet of things (iot) in the chemical Market?
The increasing demand for the chemical industry is anticipated to propel the growth of the Internet of Things (IoT) in the chemical market. The chemical industry involves the development, manufacturing, and supply of chemicals and chemical products. The adoption of IoT in the chemical sector has the potential to enhance operational efficiency, safety, sustainability, and decision-making. For instance, in February 2023, BASF SE, a Germany-based chemical company, reported that global chemical production (excluding pharmaceuticals) is expected to grow by 2.0% in 2023, with chemical production in China forecasted to grow by 5.9%. Therefore, the increasing demand for the chemical industry is driving the growth of the IoT in the chemical market.
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Who Are the Influential Players Reshaping the Internet of Things (IoT) in the chemical Market Landscape?
Major companies operating in the internet of things (IoT) in the chemical market include:
• Microsoft Corporation
• BASF SE
• Huawei Technologies Co. Ltd.
• Hitachi Ltd.
• Siemens AG
What New and Evolving Trends Are Having a Lasting Impact on the Internet of Things (IoT) in the chemical Market?
Technological advancements are becoming increasingly popular in the Internet of Things (IoT) for the chemical market. Companies operating in this space are adopting new technologies to sustain their market position. For instance, in January 2022, State Industrial Products, a US-based chemical manufacturer, launched StaWatch, an IoT platform that allows for remote monitoring and operation of cooling tower systems for clients 24/7. This innovative platform enhances efficiency in managing water treatment chemicals and other products in the commercial and industrial sectors.
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What Are the Major Segments of the Internet of Things (IoT) in the chemical Market and Their Role in Driving Growth?
The internet of things (IoT) in the chemical market covered in this report is segmented –
1) By Technology Type: Machine Vision, 3D Printing, Manufacturing Execution Systems, Distributed Control Systems, Industrial Robotics, Big Data, Artificial Intelligence, Augmented Reality And Virtual Reality, Other Technologies
2) By Industry: Large Enterprises, Small And Medium-Sized Enterprises
3) By End User: Metals And Mining, Food And Beverages, Chemical, Pharmaceutical, Pulp And Paper
Subsegments:
1) By Machine Vision: Image Processing, Quality Inspection, Automated Identification
2) By 3D Printing: Material Extrusion, Stereolithography, Binder Jetting, Powder Bed Fusion
3) By Manufacturing Execution Systems (MES): Production Tracking, Workflow Management, Data Collection And Analysis
4) By Distributed Control Systems (DCS): Control Loops, Data Acquisition, Process Visualization
5) By Industrial Robotics: Articulated Robots, Collaborative Robots (Cobots), SCARA Robots
6) By Big Data: Data Storage Solutions, Data Processing Frameworks, Predictive Analytics
7) By Artificial Intelligence (AI): Machine Learning Algorithms, Natural Language Processing, Neural Networks
8) By Augmented Reality (AR) And Virtual Reality (VR): Training Simulations, Remote Assistance, Maintenance Applications
9) By Other Technologies: Cloud Computing, Edge Computing, Blockchain For Supply Chain Management
Which Geographic Locations Are Critical to the Growth of the Internet of Things (IoT) in the chemical Market?
North America was the largest region in the Internet of Things (IoT) in the chemical market in 2024. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the internet of things (IoT) in the chemical market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
How Do Experts Define the Scope of the Internet of Things (IoT) in the chemical Market?
The Internet of Things (IoT) in the chemicals refers to a process of transforming business operations and procedures with the help of IoT, allowing for increased effectiveness, security, and optimization. Chemical producers may boost production, save costs, increase safety, and promote sustainable practices in their businesses by utilizing IoT technology.
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