The latest research study by HTF MI reports that the Global IoT in Chemical Industry Market is expected to reach USD 47.9 billion by 2030, with a current valuation of USD 14.3 billion. The market is growing at a CAGR of ~17% from 2024 to 2030. The study highlights key players such as Siemens, Honeywell, Rockwell Automation, Schneider Electric, ABB, GE, Emerson, Yokogawa, SAP, Honeywell, IBM, Cisco, Microsoft, SAP, Oracle, Bosch, Siemens AG, and Yokogawa. The market is segmented by application (industrial automation, predictive maintenance, supply chain), by type (sensors, cloud, connectivity, big data, AI), business scope, manufacturing, and outlook.
The study also identifies market trends, drivers, and challenges. Predictive maintenance, real-time monitoring, and AI are key trends in the market, while automation, efficiency, and data-driven decision-making are drivers. Data security, high initial investment, and integration complexity are challenges facing the market. The report provides information on geographical analysis, key developments, and customization options. The study aims to provide insights to stakeholders and business professionals to expand their position in the market.