Global Digital Transformation in Chemical Industry Market
Key players operating in the global digital transformation in chemical industry market include Cisco Systems Inc., Microsoft Corp., Stratasys Ltd., HP Enterprise, Siemens AG, General Electric, ABB Ltd., Rockwell Automation, Emerson Electric, and Honeywell International among others.
Brooklyn, New York, Aug. 31, 2023 (GLOBE NEWSWIRE) — According to a new market research report published by Global Market Estimates, the Global Digital Transformation in Chemical Industry Market is expected to grow at a CAGR of 25.1% from 2023 to 2028.
The digital transformation in the chemical industry is driven by a range of factors, such as the rising need for enhanced operational efficiency in the chemical industry, data-driven decision-making platform, and improved supply chain management. Automation, IoT integration, and advanced analytics are accelerating the industry’s ability to optimize processes, reduce costs, and innovate product offerings, fostering competitiveness and sustainability.
Key Market Trends
- IoT Integration: The industry is increasingly adopting IoT devices and sensors to gather real-time data from manufacturing processes, enabling predictive maintenance, process optimization, and quality control.
- Data Analytics: Advanced analytics and AI are utilized to analyze the massive amounts of data generated, offering insights for improved decision-making, supply chain optimization, and product innovation.
- Cloud Computing: Cloud-based platforms facilitate data sharing, collaboration, and remote monitoring, enhancing operational agility and enabling scalable solutions.
- Cybersecurity Focus: As digitalization expands, the industry is prioritizing robust cybersecurity measures to protect sensitive data and critical infrastructure from cyber threats.
Browse 147 Market Data Tables and 115 Figures spread through 163 Pages and in-depth TOC on “Global Digital Transformation in Chemical Industry Market – Forecast to 2028’’
Key Market Insights
- As per the component type outlook, the solutions segment will be the largest segment during the forecast period
- As per the end-user outlook, the petrochemical segment will be the fastest-growing segment during the forecast period
- The Asia Pacific region is analyzed to be the fastest-growing region in the market
- The North America is analyzed to have the largest share in the global market during the forecast period of 2023-2028
- The key players operating in the market are Cisco Systems Inc., Microsoft Corp., Stratasys Ltd., HP Enterprise, Siemens AG, General Electric, ABB Ltd., Rockwell Automation, Emerson Electric, and Honeywell International among others
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Component Type (Revenue, USD Billion, 2023-2028)
- Solutions [Analytics, Cloud Computing, Mobility, Social Media, and Others]
- Services [Professional Services and Implementation & Integration]
End-User (Revenue, USD Billion, 2023-28)
- Specialty Chemicals
- Polymers & Plastics
- Fine & Bulk Chemicals
By Regional Outlook (Revenue, USD Billion, 2023-2028)
- Rest of Europe
- South Korea
- Rest of APAC
Central & South America
- Rest of Central & South America
Middle East and Africa
- Saudi Arabia
- South Africa
- Rest of Middle East and Africa
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