The digital revolution in chemicals is presenting the immense unexplored potential to increase efficiencies, and productivity and also to help companies design innovative products and processes. The covid-19 has made a significant impact on the chemical industry which in turn leads to the digitalization of the chemical industry just like all the other things.
According to the research report, ‘Digital
Chemical Industry Market: Current Analysis and Forecast (2021-2027)’
states that Some of the major players performing in the market are ABB Ltd.,
Analog Devices Inc., Atos SE, Autonics Corporation, Cisco Systems Inc., Emerson
Electric Co., Fanuc Corporation, Flowserve Corporation, Fortive Corporation,
General Electric, and many others. The report. The study also does company
profiling of each player named above based on the necessary parameters like
production capacity, key business strategies, revenue, key performance
indicators, recent investments, and developments made, regional presence a lot
more other information which is important for the companies to help modify and
sustain their position in the market. A framework is provided to analyze how
far along the player is on the digital maturity spectrum and what steps are
required to reach the planned destination on the digital journey.
For a better understanding of the
market, the report includes the bifurcation of the market globally into various
segments that are based on Technology (IoT, AR, VR, AI, digital twin, 3D
printing, and others), based on Vertical (bulk chemical, specialty-chemical,
agrochemical, and others), based on Operation (research & development,
manufacturing, procurement, packaging, supply chain, and others), based on
Region (North America, Europe, Asia-pacific, and rest of the world). The report
deeply analyses each segment and its parts. For example- it is observed that
technology like IoT helps in monitoring and automating the manufacturing
process, thus reducing the labor cost, and reducing the companies' expenditure.
Likewise, the manufacturing industry has a large share in the market due to
reasons discussed in detail in the report. The report gives insights at the
country level too, the countries included in the report are India, China,
Japan, Korea, Canada, the United States, Germany, France, Spain, and many
others.
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In addition to that, the report also has sections dedicated to the market as a whole such as market dynamics, market trends (historical and current), application details, forecast predictions, data on sales and demand, recent technologies, various features of the global market, and investment opportunities. The report also discusses several growth drivers, challenges, and restraints on the market. The report analyses the market quantitatively and qualitatively by tracing all the important sections influencing the market.
Digitalization will have a
remarkable impact on several areas of the chemical industry, with the
capability to change value chains, which leads to higher productivity and more
advancement and create new passages to the digital chemical industry market. This
will lead to the growth of the market at a significant value in terms of
revenue in USD million at a single-digit CAGR by the timeframe 2020-2027.
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Global
Digital Chemical Market: Ken Research
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