Internet of Things (IoT) in The Chemical Market Report 2025

The internet of things (IoT) in the chemical market size has grown rapidly in recent years. It will grow from $74.54 billion in 2024 to $84.77 billion in 2025 at a compound annual growth rate (CAGR) of 13.7%. The growth in the historic period can be attributed to process optimization and automation, regulatory compliance, supply chain visibility, asset management and predictive maintenance, energy efficiency.

The internet of things (IoT) in the chemical market size is expected to see rapid growth in the next few years. It will grow to $146.84 billion in 2029 at a compound annual growth rate (CAGR) of 14.7%. The growth in the forecast period can be attributed to integration with artificial intelligence (AI), edge computing for real-time processing, blockchain for supply chain transparency, collaborative ecosystems, smart packaging and logistics. Major trends in the forecast period include advanced sensor technologies, digital twins implementation, 5g connectivity for low latency, cybersecurity and data privacy focus, augmented reality for maintenance.

The growing demand for the chemical industry is anticipated to drive the expansion of the Internet of Things (IoT) in the chemical market in the future. The chemical industry encompasses the development, manufacturing, and supply of chemicals and chemical products. By implementing IoT technologies, the chemical sector can significantly enhance operational efficiency, safety, sustainability, and decision-making processes. For example, in February 2023, BASF SE, a Germany-based chemicals company, reported that global chemical production (excluding pharmaceuticals) is projected to increase by 2% in 2023. In China, the largest chemical market worldwide, chemical production is expected to grow by 5.9%. Consequently, the rising demand for the chemical industry is fueling the growth of IoT applications within this market.

The rising adoption of industrial automation is projected to boost the growth of IoT in the chemicals market in the coming years. Industrial automation involves using control systems, such as computers or robots, along with information technologies to manage various processes and machinery within an industry, reducing the need for human intervention. IoT facilitates the implementation of smart manufacturing in the chemical sector, utilizing data analysis, machine learning, and artificial intelligence to enhance product quality and minimize downtime. For instance, in October 2023, the International Federation of Robotics, a Germany-based professional non-profit organization, reported that in 2022, the sales of service robots for professional use reached 158,000 units, reflecting a 48% increase. Many companies are increasingly adopting automation solutions to tackle staffing shortages. Thus, the growing adoption of industrial automation is driving the expansion of IoT in the chemicals market.

The Internet of Things (IoT) in the chemical market is witnessing a significant trend of technological advancements. Companies within this market are embracing new technologies to maintain their competitive positions. For example, in January 2022, State Industrial Products, a US-based chemical manufacturer and distributor, introduced StaWatch, a new IoT platform technology. StaWatch, utilizing IoT technology, allows State to remotely monitor and operate its cooling tower system around the clock for commercial and industrial clients.

Innovative technologies such as digital twins are becoming prominent in the IoT in the chemicals market, with major companies developing these solutions to gain a competitive edge. Digital twins involve creating a detailed and dynamic digital model mirroring the characteristics of a physical object, system, or process in real-time. AGC Inc., a Japan-based glass manufacturing company, introduced the Process Digital Twin for chemical plants in April 2023. This innovative system creates a virtual replica of the actual plant by importing real-time operational data into a process simulator through a Plant Information Management System (PIMS). The technology enables high-speed calculations, providing instant situational awareness and supporting data-driven decision-making.

In May 2022, HCL Technologies Limited, an India-based technology company, partnered with SAP SE, a Germany-based software company, to accelerate Industry 4 initiatives through smart IoT offerings. The collaboration aims to streamline digital supply chain processes, automate goods movement, optimize warehouse processes, and enable real-time monitoring of edge hardware, ultimately contributing to sustainable transformation and growth in Industry 4 initiatives.

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, General Electric Company (GE), Intel Corporation, The International Business Machines Corporation, Cisco Systems Inc., Mitsubishi Electric Corporation, Schneider Electric SE, Honeywell International Inc., Air Liquide S.A., SAP SE, ABB Ltd, Hewlett Packard Enterprise Development LP, Nokia Corporation, Johnson Controls International, Emerson Electric Co., Atos SE, Rockwell Automation Inc., FANUC Corporation, Yokogawa Electric Corporation, PTC Inc., Cognite AS, Seeq Corporation, Appshare Technologies Inc., Altizon Inc., SumatoSoft, Davra Network Limited.

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. The countries covered in the internet of things (iot) in the chemical market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Canada, Italy, Spain.

The application of the Internet of Things (IoT) in the chemicals sector involves the transformation of business operations and procedures through IoT, leading to enhanced effectiveness, security, and optimization. Utilizing IoT technology enables chemical producers to increase production, reduce costs, enhance safety measures, and promote sustainable practices within their businesses.

The primary technologies associated with the Internet of Things (IoT) in the chemical industry include machine vision, 3D printing, manufacturing execution systems, distributed control systems, industrial robotics, big data, artificial intelligence, augmented reality, virtual reality, and other related technologies. Machine vision encompasses tools and technologies that enable devices such as cameras and computers to capture, decode, and interpret visual data from images and videos. In the chemical industry, machine vision is applied in various ways to optimize operations, ensure quality control, maintain safety standards, and enhance productivity. Services related to the Internet of Things (IoT) in the chemical industry cater to both large enterprises and small to medium-sized enterprises across sectors such as metals and mining, food and beverages, chemicals, pharmaceuticals, and pulp and paper industries.

The Internet of Things (IoT) in the chemical market research report is one of a series of new reports that provides Internet of Things (IoT) in the chemical market statistics, including the Internet of Things (IoT) in the chemical industry's global market size, regional shares, competitors with an Internet of Things (IoT) in the chemical market share, detailed Internet of Things (IoT) in the chemical market segments, market trends, and opportunities, and any further data you may need to thrive in the Internet of Things (IoT) in the chemical industry. This Internet of Things (IoT) in the chemical market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenarios of the industry.

The Internet of Things (IoT) in the chemical market consists of revenues earned by entities by providing services such as supply chain optimization, process monitoring, and optimization, safety, and environmental monitoring, asset monitoring and predictive maintenance, and remote monitoring and control. The market value includes the value of related goods sold by the service provider or included within the service offering. Only goods and services traded between entities or sold to end consumers are included.

The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified).

The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.

This product will be delivered within 3-5 business days.