Global Internet of Things (IoT) in Chemical Industry Market Size Study & Forecast, by Technology Type (Enabling Technology and Operational Technology), by Chemical Verticals (Mining & Metals, Food & Beverages, Chemicals, Pharmaceuticals, and Paper & Pulp)

The Global Internet of Things (IoT) in Chemical Industry Market is valued at approximately USD 77.69 billion in 2024 and is anticipated to grow at a CAGR of 9.70% during the forecast period 2025–2035. IoT in the chemical sector represents a transformative leap in industrial connectivity, where data-driven operations merge with real-time monitoring and automation to optimize production efficiency, sustainability, and safety. Through the integration of smart sensors, edge computing, and predictive analytics, IoT enables chemical manufacturers to streamline complex processes, minimize waste, and reduce downtime. The market growth is primarily driven by the growing need for digital transformation across the chemical value chain, increasing emphasis on process safety, and the surging demand for energy-efficient and sustainable manufacturing operations. As companies transition toward Industry 4.0, IoT adoption is becoming indispensable for predictive maintenance, supply chain optimization, and intelligent asset management.

The increasing pressure on chemical producers to enhance operational resilience and sustainability has accelerated the deployment of IoT-enabled systems. By integrating cloud-based platforms and AI-powered analytics, chemical enterprises can gain real-time visibility across production lines, distribution networks, and equipment health. According to McKinsey, IoT-driven predictive maintenance can reduce equipment downtime by up to 30% and extend machinery life cycles by 20%. Moreover, the rise of smart manufacturing initiatives and government-led digital transformation programs worldwide has intensified market momentum. However, cybersecurity threats and the complexity of integrating legacy systems with next-generation technologies remain significant challenges. Despite these barriers, the growing demand for data interoperability and the emergence of digital twins in chemical production create promising avenues for long-term market expansion.

The detailed segments and sub-segments included in the report are:

By Technology Type:
• Enabling Technology
• Operational Technology

By Chemical Verticals:
• Mining & Metals
• Food & Beverages
• Chemicals
• Pharmaceuticals
• Paper & Pulp

By Region:

North America
• U.S.
• Canada

Europe
• UK
• Germany
• France
• Spain
• Italy
• Rest of Europe

Asia Pacific
• China
• India
• Japan
• Australia
• South Korea
• Rest of Asia Pacific

Latin America
• Brazil
• Mexico

Middle East & Africa
• UAE
• Saudi Arabia
• South Africa
• Rest of Middle East & Africa

Operational Technology Expected to Dominate the Market

Operational technology (OT) is anticipated to hold the largest market share in the global IoT in the chemical industry, owing to its pivotal role in real-time control and automation of industrial processes. OT systems empower chemical plants to monitor and manage physical devices, production lines, and safety systems with precision and minimal human intervention. The integration of IoT with OT enables advanced data collection, anomaly detection, and predictive maintenance, resulting in improved yield and cost optimization. With the growing implementation of SCADA, DCS, and MES systems across chemical facilities, OT-based IoT solutions are enabling organizations to move from reactive to proactive operational strategies. Furthermore, the convergence of OT and IT infrastructures is paving the way for seamless data analytics, driving enhanced productivity and safer plant environments.

Enabling Technology Leads in Revenue Contribution

Enabling technologies, such as sensors, gateways, and connectivity platforms, currently account for the lion’s share of the IoT in chemical industry revenue. These foundational elements are the backbone of industrial IoT ecosystems, facilitating data acquisition, machine communication, and remote system monitoring. As smart sensors become more affordable and edge computing grows more sophisticated, chemical manufacturers are increasingly deploying these technologies to ensure precision control and real-time responsiveness. Enabling technologies are also evolving to support 5G, AI, and blockchain integration, creating highly interconnected and secure operational frameworks. Consequently, while OT solutions define the strategic transformation of plant operations, enabling technologies remain the revenue driver that sustains this transformation.

The key regions considered for the Global Internet of Things (IoT) in Chemical Industry Market study include North America, Europe, Asia Pacific, Latin America, and the Middle East & Africa. North America dominated the market in 2024, driven by the strong presence of major technology providers and leading chemical manufacturers adopting IoT for operational excellence. The United States continues to spearhead digitalization across industrial sectors with significant investments in AI, automation, and cloud-based analytics. Meanwhile, Asia Pacific is poised to be the fastest-growing region during the forecast period, bolstered by rapid industrialization, the proliferation of smart manufacturing programs, and government incentives for digital innovation in China, Japan, and India. Europe remains a frontrunner in implementing sustainable production models, leveraging IoT to achieve stringent environmental and energy efficiency targets, while Latin America and the Middle East are increasingly investing in digital infrastructures to enhance process safety and productivity within chemical processing plants.

Major market players included in this report are:
• Siemens AG
• Honeywell International Inc.
• ABB Ltd.
• Cisco Systems, Inc.
• Microsoft Corporation
• IBM Corporation
• Emerson Electric Co.
• Rockwell Automation, Inc.
• General Electric Company
• Schneider Electric SE
• Yokogawa Electric Corporation
• SAP SE
• PTC Inc.
• Oracle Corporation
• Intel Corporation

Global Internet of Things (IoT) in Chemical Industry Market Report Scope:
• Historical Data – 2023, 2024
• Base Year for Estimation – 2024
• Forecast period – 2025-2035
• Report Coverage – Revenue forecast, Company Ranking, Competitive Landscape, Growth factors, and Trends
• Regional Scope – North America; Europe; Asia Pacific; Latin America; Middle East & Africa

The objective of the study is to define market sizes of different segments & countries in recent years and to forecast the values for the coming years. The report is designed to incorporate both qualitative and quantitative aspects of the industry within the countries involved in the study. The report also provides detailed information about crucial aspects, such as driving factors and challenges, which will define the future growth of the market. Additionally, it incorporates potential opportunities in micro-markets for stakeholders to invest, along with a detailed analysis of the competitive landscape and product offerings of key players. The detailed segments and sub-segments of the market are explained below:

Key Takeaways:
• Market Estimates & Forecast for 10 years from 2025 to 2035.
• Annualized revenues and regional-level analysis for each market segment.
• Detailed analysis of the geographical landscape with country-level analysis of major regions.
• Competitive landscape with information on major players in the market.
• Analysis of key business strategies and recommendations on future market approach.
• Analysis of the competitive structure of the market.
• Demand side and supply side analysis of the market. Show more