IoT in Chemical Industry Market
IoT in Chemical Industry Market Scope: Industry
Analysis, Market Size, Growth, Trends Till 2031
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IoT in Chemical Industry Market Size and Growth
The IoT in the chemical industry market is experiencing robust growth, driven by increasing automation and data analytics needs. The market size is projected to reach approximately $30 billion by 2026, reflecting a compound annual growth rate of around 25%. Adoption is accelerating, enhancing efficiency, safety, and sustainability across operations.
Companies Covered
(Covid 19 Impact Covered)
◍ Siemens
◍ GE
◍ ABB
◍ Rockwell Automation
◍ Emerson Electric
◍ Yokogawa Electric
◍ Honeywell International
◍ Mitsubishi Electric
◍ Schneider Electric
The IoT in the chemical industry integrates automation and data analytics for enhanced efficiency. Companies like Siemens, GE, and Honeywell leverage IoT for predictive maintenance and process optimization, driving growth. Siemens generated $65 billion in revenue; Honeywell reported $34 billion, showcasing their impact on the IoT landscape in this sector.
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Market Segmentation
By Application
Mining & Metals
Chemicals
Paper & Pulp
Other
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By Product
Enabling Technology
Operational Technology
$ 21.50 Billion
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