Artificial Intelligence
IoT in the Global Chemical Industry, 2020 to 2024 – Lucrative Opportunities in Chemical Verticals
Dublin, Jan. 30, 2020 (GLOBE NEWSWIRE) — The “IoT in Chemical Industry by Technology Type (Enabling Technology and Operational Technology), Chemical Verticals (Mining & Metals, Food & Beverages, Chemicals, Pharmaceuticals, Paper & Pulp), Region – Global Forecast to 2024” report has been added to ResearchAndMarkets.com’s offering.
The Global IoT in Chemical Industry is estimated to grow from USD 48.9 billion in 2019 to USD 77.9 billion by 2024, at a CAGR of 9.7%.
It is largely driven by the increasing emphasis on technology for various industrial applications, such the growing use of IoT in the manufacturing process and the introduction of AI base models in predictive analytics for asset management and condition monitoring.
The key players profiled in the report include as Siemens AG (Germany), General Electric Co (US), ABB Ltd (Switzerland), Rockwell Automation, Inc. (US), Emerson Electric Co (US), Yokogawa Electric Corporation (Japan), Honeywell International Inc. (US), Mitsubishi Electric Corporation (Japan), Schneider Electric SE (Germany).
Enabling technology is expected to be the fastest-growing type segment of the IoT in Chemical Industry market, in terms of value, between 2019 and 2024
The enabling technology segment is projected to register the highest growth, in terms of value, during the forecast period. The growing concern toward the reduction of risk associated with chemical and metal industries, rising environmental concerns due to chemical release from the plants, and the rising emphasis on circular economy are driving the demand for digital transformation, which is leading to the growth in the IoT in Chemical Industry market.
Chemical verticals segment is estimated to register the highest growth rate, between 2019 and 2024
The chemical verticals segment is estimated to register the highest growth rate, in terms of value, between 2019 and 2024. This is owing to the increase in chemical production across various regions and rise in demand for specialty chemicals in advanced engineering processes.
The chemicals segment is expected to reach USD 5 trillion in next 5 years. This also reflects the growing chemical production facilities and infrastructure globally. The increased number of chemical refineries and production plants is expected to impact the market positively since new plants are highly anticipated to adopt technologies such as IoT, big data, augmented reality, and industrial robots.
Rising customer demand from food & beverage and pharmaceutical industries and the growth in chemical production are likely to drive the demand for IoT in Chemical Industry in APAC
The APAC IoT in Chemical Industry market is estimated to witness significant growth during the forecast period. The growing chemical production in China and increasing urbanization and industrialization are driving the IoT in Chemical Industry market in the region. In addition, the rise of mining and metal companies in the region will further drive the IoT in Chemical Industry market.
APAC has some of the highest growing countries in the world. This is possible due to the growth in industrial infrastructure and increased foreign investments. Various plants and production facilities are anticipated to start in the region in the coming years. Greenfield projects are likely to integrate new processing technologies, thus further boosting the growth of the IoT in Chemical Industry market.
Key Topics Covered
1 Introduction
2 Research Methodology
3 Executive Summary
4 Premium Insights
4.1 Attractive Growth Opportunities in the Chemical 4.0 Market
4.2 Chemical 4.0 Market, By Region (2019-2024)
4.3 APAC: Chemical 4.0 Market, By Enabling Technology and Country
4.5 Chemical 4.0 Market, By Operational Technology
5 Market Overview
5.1 Introduction
5.1.1 Market Evolution
5.1.2 Elements of Chemical 4.0
5.1.2.1 Cyber Physical Systems
5.1.2.2 Industrial Internet of Things
5.1.2.3 Cloud Computing
5.1.2.4 Cognitive Computing
5.1.2.5 Data
5.1.3 Essentials of Chemical 4.0
5.1.3.1 Technical Requirements
5.1.3.1.1 Connectivity
5.1.3.1.2 Sensor Technology
5.1.3.1.3 Automation
5.1.3.1.4 Data Analytics
5.1.3.2 Organizational Requirements
5.1.3.2.1 Digitization Strategy
5.1.3.2.2 Workforce Optimization
5.1.3.2.3 Change Management
5.1.3.2.4 Cross-Industry Collaborations
5.2 Market Dynamics
5.2.1 Drivers
5.2.1.1 Increased Emphasis on Efficiency and Optimization
5.2.1.2 Increasing Adoption of Industrial Robots
5.2.1.3 Increasing Demand for Industry-Specific Solutions to Drive the Growth of the Market for IoT in Manufacturing
5.2.1.4 Increased Emphasis on Regulatory Compliances
5.2.1.5 Growth of the Semiconductor Industry and Other Supporting Industries
5.2.1.6 5G Communication
5.2.1.7 Circular Economy
5.2.2 Restraints
5.2.2.1 High Capital Investment Required for Transformation
5.2.2.2 Low Adoption Rate of Technologies
5.2.3 Opportunities
5.2.3.1 Industrial Growth in Emerging Economies
5.2.3.2 Enterprise-Wide Integration Leading to Enhanced Efficiency
5.2.3.3 High Emphasis on Digitization By Governments Globally
5.2.3.4 Advancement in IoT, Cognitive Computing, and Additive Manufacturing
5.2.3.5 Real-Time Data Generation and Data-Driven Process
5.2.3.6 Better Working Conditions, Superior Sustainability, Increased Energy-Efficiency, and Environmentally Sustainable Production and Systems
5.2.3.7 Food Safety, Spoilage, and Contamination
5.2.4 Challenges
5.2.4.1 Threats to Data Security and Other Cybersecurity Risks
5.2.4.2 Skill Gap
5.2.4.3 Lack of Infrastructure
5.2.4.4 Challenges in Information Technology and Operational Technology Convergence
5.2.4.5 Low Adoption Rate of Industry 4.0 Infrastructure in Small- and Medium-Sized Industries
5.2.4.6 Employee Pushback and Change Management
5.2.4.7 Transparency, Ethics, and Regulatory Compliances
6 Chemical 4.0 Market, By Type
6.1 Introduction
6.2 Operational Technology
6.3 Distributed Control System (DCS)
6.3.1 DCS Provide Safe Execution and Control of Critical Process, Which are Not Possible to Control Manually Due the Risks Involved
6.4 Programmable Logic Controller (PLC)
6.4.1 Increasing Number of Factories are Generating Demand for Micro and Nano Plcs
6.5 Manufacturing Execution System (MES)
6.5.1 High Rate of Adoption of Mes is Due to Its Increasing Benefits in Process and Discrete Industries
6.6 Enterprise Resource Planning (ERP)
6.6.1 Ability to Integrate All the Critical Business Information Across an Organization is Boosting the Adoption of Erp Solutions in Smart Factories
6.7 Supervisory Control and Data Acquisition (SCADA)
6.7.1 Shift Toward Development of Scada App for Smartphones and Tablets is Likely to Encourage Chemical 4.0 Market Growth
6.8 Plant Asset Management (PAM)
6.8.1 Increasing Demand for Software Solutions Capable of Determining Failures in Advance is Favoring the Market for Pam
6.9 Human Machine Interface (HMI)
6.9.1 Evolution of Industrial Internet of Things (IIoT) and the Growing Demand of Smart Automation Solutions are Driving the Market
6.10 Product Lifecycle Management (PLM)
6.10.1 Rising Demand for Efficiency and Productivity in Manufacturing Plants Across the Globe is Promising for the Market
6.11 Enabling Technology
6.12 Industrial Robotics
6.12.1 Traditional Robots
6.12.1.1 Cartesian Robots
6.12.1.1.1 Cartesian Robots Help With A High Degree of Mechanical Rigidity, Accuracy, and Repeatability
6.12.1.2 Scara Robots
6.12.1.2.1 Scara Robots Provide Higher Flexible Reach
6.12.1.3 Articulated Robots
6.12.1.3.1 These Robots Cover A Larger Work Envelope
6.12.1.4 Other Robots
6.12.2 Collaborative Robots
6.12.2.1 The Robotics Industry Players are Focusing on Designing Collaborative Robots as Per the Requirements of Smart Manufacturing Facilities
6.13 Machine Vision
6.13.1 Machine Vision Will Be Able to Reduce the Risk of Humans to Get Exposed to Hazardous and Toxic Conditions in Chemical Industries
6.14 Internet of Things (IoT)
6.14.1 IoT is Gaining Traction With Its Ability to Enhance Product Knowledge and Production Efficiency
6.15 3D Printing
6.15.1 The 3D Printing Market is Experiencing Growth With Strong R&D Regarding New Print Materials and Technologies
6.16 Big Data
6.16.1.The APAC Region Holds Immense Potential for the Growth of the Big Data Market
6.17 Machine Condition Monitoring
6.17.1 The Technology is Helpful in the Reduction of Maintenance Costs By Optimizing Machine Performance
6.18 Augmented Reality (AR) & Virtual Reality (VR)
6.18.1 The Implementation of These Technologies is Increasing in Various Industries, Including Chemical
6.19 Artificial Intelligence (AI)
6.19.1 The Major Factor Contributing to the Growth of the Market in the Ai Segment is the Ability of the Technology to Reduce Human Errors
6.20 Digital Twin
6.20.1 APAC is the Fastest-Growing Market in This Segment
7 Chemical 4.0 Market, By Industry Vertical
7.1 Shift in Revenue Streams Due to Megatrends in Chemical Industry
7.2 Introduction
7.3 Metals & Mining
7.3.1 Rising Demand for Preventive Maintenance is Encouraging the Adoption of Industry 4.0 Solutions in the Mining Industry
7.4 Food & Beverage
7.4.1 The Implementation of Automation Technologies is Growing in This Industry
7.5 Chemical
7.5.1 Petrochemicals & Polymers
7.5.1.1 The Growth of the Petrochemicals & Polymers Segment is Opening Up Opportunities for the Adoption of Industry 4.0 Solutions
7.5.2 Specialty Chemicals
7.5.2.1 Data Analytics Have Immense Scope in This Segment of the Chemical Industry
7.5.3 Fertilizers & Agrochemicals
7.5.3.1 The Growing Demand for Organic Chemicals is Expected to Drive the Market
7.5.4 Others
7.6 Pharmaceutical
7.6.1 Increasing Demand for Industrial Automation to Ensure Product Standard is Driving Digital Transformation in This Industry
7.7 Pulp & Paper
7.7.1 The Ongoing Digitization of the Paper Manufacturing Process is Expected to Drive Chemical 4.0 Adoption in the Industry
7.8 Used Cases
8 Chemical 4.0 Market, By Process
8.1 Introduction
8.2 Research & Development (R&D)
8.2.1 Reduced Product Development Time
8.3 Manufacturing
8.3.1 Leveraging Technology to Improve Production Process
8.4 Procurement
8.4.1 Inventory Management Complements Procurement Process
8.5 Packaging
8.5.1 Achieving Sustainability Through Automation and Technology
8.6 Supply Chain Management and Logistics
8.6.1 Faster and Flexible Distribution
8.6.2 Maintaining A Large Amount of Data
8.6.3 Automation as A Solution
8.6.4 Warehousing for Profit
9 Chemical 4.0 Market, By Region
9.1.1 Introduction
9.1.2 APAC
9.1.3 Europe
9.1.4 North America
9.1.5 Middle East & Africa
9.1.6 South America
10 Competitive Landscape
11 Company Profiles
11.1 Siemens AG
11.1.1 Business Overview
11.1.2 Products Offered
11.1.3 Recent Developments
11.1.4 Winning Imperatives
11.1.5 Current Focus and Strategies
11.1.6 Threat From Competition
11.1.7 Siemens AG’s Right to Win
11.2 General Electric Co.
11.3 ABB Ltd.
11.4 Rockwell Automation, Inc.
11.5 Emerson Electric Co.
11.6 Yokogawa Electric Corporation
11.7 Honeywell International Inc.
11.8 Mitsubishi Electric Corporation
11.9 Schneider Electric SE
11.10 Fanuc Corporation
11.11 Fortive
11.12 International Business Machines Corporation
11.13 Cisco Systems Inc.
11.14 Microsoft Corporation
11.15 Stratasys Ltd.
11.16 Hewlett Packard Enterprise Company
11.17 Qualcomm Inc.
11.18 Samsung Electronics Co. Ltd
11.19 Texas Instruments Inc.
11.20 Atos SE
11.21 3D Systems Corporation
11.22 Denso Corporation
11.23 Other Players
For more information about this report visit https://www.researchandmarkets.com/r/9s5wb5
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Artificial Intelligence
Synthetik Applied Technologies LLC announces development of UrbanScale – a modeling platform for the prediction, characterization, and quantification of extreme urban heat
AUSTIN, Texas and LONDON, April 30, 2024 /PRNewswire/ — Synthetik Applied Technologies announces the development of UrbanScale, a tool to model and predict effects of extreme heat in urban areas, through a project funded by the National Oceanic and Atmospheric Association (NOAA). The physical characteristics of urban areas amplify heat effects resulting in what are known as urban heat islands — areas where surface temperatures are much higher than their surroundings. The UrbanScale tool addresses this climate peril with sophisticated analytic tools based on physics informed neural networks and cutting-edge machine learning to predict urban heat and help better understand and mitigate the risks associated with these extreme heat events. As a result of climate change, these events are expected to increase, impacting both the people that live in urban areas and the infrastructure on which they depend.
The UrbanScale platform shows significant promise to provide data on the severity of heat islands and their effects to better understand how they impact human health, energy use and damage to physical infrastructure. This information will provide a step-change in capability for government agencies, urban planners, and transportation authorities to direct efforts for mitigation and intervention. In particular, inclusion of demographic information into data pipelines will allow understanding of how urban heat effects may impact vulnerable or disadvantaged populations. Integration with climate forecasts and models will also provide unprecedented capabilities for forecasting risk associated with climate change.
Josh Hatfield, Director of Research and Development at Synthetik, said:
‘We are extremely grateful for the opportunity to study such an important issue. Extreme heat is already the largest cause of weather-related fatalities in the US, and climate change will only increase the importance of understanding heat in urban environments. Helping to meet that challenge fits directly into Synthetik’s mission.’
Synthetik COO Tim Brewer commented:
‘The UrbanScale tool will allow both our government and insurance partners to better characterize the risk of extreme heat in urban centers and promises to deliver critical insight on the way these events impact energy demands. We look forward to exploring its wide-ranging applications.’
Synthetik plans further development of UrbanScale with NOAA and other partners in the public and private sector.
For all inquiries: Contact Synthetik Applied Technologies PR [email protected]
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Artificial Intelligence
GLiNTECH – a Valiantys company, wins Atlassian Partner of the Year 2023 Services (APAC) award. Valiantys and GLiNTECH declared Finalists for Team Excellence and ITSM Solutions
PARIS, April 30, 2024 /PRNewswire/ — Atlassian announced today that GLiNTECH – a Valiantys company has won the Atlassian Partner of the Year 2023 Services (APAC) award. Valiantys and GLiNTECH were further declared finalists for the Team Excellence and ITSM Solutions awards, respectively.
This is an acknowledgement of their outstanding work for Atlassian customers during the calendar year 2023. This includes exceptional efforts in developing new business and driving innovative solutions for customer success.
“Our industry leading partners play a vital role in our customers’ continued success. We’re honored to highlight our top partners as award finalists this year, reflecting their ongoing commitment to delivering innovative solutions and unparalleled Atlassian services globally,” said Ko Mistry, Atlassian’s Head of Global Channels.
“We are delighted to be named as finalists for these awards from Atlassian, and we are particularly proud to celebrate GLiNTECH’s achievement in winning the Services (APAC) award.” said Emmanuel Benoit, Global Chief Executive Officer, Valiantys. “At Valiantys, embracing diversity of thought and challenging the ways our teams work has always provided Valiantys with a competitive edge to consistently deliver tangible results and value. We look to the future with unwavering determination and confidence as we continue to drive innovation and unlock potential for our customers around the globe.”
“We dedicate our IT Consulting Services and Custom Solutions to fulfilling our customers’ needs for success,” commented Dimitri Spyridopoulos, Chief Executive Officer GLiNTECH – a Valiantys company. “It’s an honor to be recognized by Atlassian as a finalist in two categories that reflect these efforts: Services and ITSM Solutions, and to be declared as winner for the Services award (APAC).”
For more information regarding this Press Release, contact: [email protected]
About Valiantys
Valiantys is a leading global consulting and services firm dedicated to Atlassian. The company accelerates business transformation by digitizing processes and modernizing teamwork, using the best agile methods and tools. Its Atlassian technical expertise is unparalleled and Valiantys supports its customers across the entire spectrum of projects on those platforms. As a recognized Agile at Scale, ITSM, and Cloud Specialized Partner, Valiantys help organizations accelerate time to value with Agile at scale, cloud, and ITSM implementations. Because teamwork requires more than just tools, the firm bridges the gap between applications and strategic practices such as SAFe® and ITIL. Over the last 15 years, Valiantys has helped more than 5,000 customers achieve their desired business outcomes at a reduced time to value, through improved team collaboration. More information about Valiantys can be found at https://www.valiantys.com/
About GLiNTECH – a Valiantys Company
GLiNTECH is a renowned Atlassian Platinum Partner headquartered in Australia and is the preferred choice for over 300 leading brands. The company has amassed more than 20 years of experience servicing enterprise clients across the Asia Pacific region, earning Atlassian Partner of the Year five times, including most recently for Professional Services. GLiNTECH is recognized as a Specialized Atlassian Cloud and ITSM partner. The company offers deep expertise in Licensing, Training, Support, Managed Services, Consulting, and Agile methodologies and has a proven record in providing reliable solutions while driving success within the Atlassian ecosystem. More information about GLiNTECH can be found here: https://www.glintech.com/
GLiNTECH was acquired by Valiantys in February 2024.
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Artificial Intelligence
Nillion is pleased to announce that Dwinity, a team pioneering decentralized AI has joined as an ecosystem partner
ZUG, Switzerland and MUNICH, April 30, 2024 /PRNewswire/ — With huge amounts of personal data being collected every day, privacy concerns are escalating as the impact of data breaches become more costly. The need to address the problems created by the existing data economy have never been greater. By empowering users to reclaim control, Dwinity aims to unlock an enormous amount of potential for personal data to enhance various industries like healthcare, insurance, and finance.
About Dwinity
Dwinity’s mission is to give power back to users and to create a thriving data economy in which information asymmetry is finally removed. Dwinity enables a decentralized data economy as well as creates a data ownership driven ecosystem for storage, analysis, exchange, and commercialization of sensitive personal data.
The three components of Dwinity are:
Data control: Decentralized data spaces for decentralized data storage which provides true data sovereignty and enables users to decide with whom data is shared.Data Gold: Decentralized AI tools for each data space have the capability to unlock the full potential of data via sophisticated analysis.Data Cash: A fair marketplace with automated data value analysis, allowing for tangible income for data owners at lower costs and completely anonymous.Dwinity is presently closing its initial seed round at USD 3 MN – funds which will be used for the development of the initial prototypes to hit the market already in 2024.
About Nillion
Nillion is humanity’s first Blind Computer. It is powered by a decentralized network of nodes that enables “Blind Computation” through the coordination and orchestration of privacy enhancing technologies (PETs) such as multi-party computation (MPC), fully homomorphic encryption (FHE) and zero-knowledge proofs (ZKP). Nillion believes Blind Computation will become the internet’s base layer for all private data as PETs continue to mature. Nillion has attracted a notable initial cohort of Blind Computation builders across AI, DeFi, medical data, custody, wallets, global identity, messaging and more.
The Nillion development company, Nilogy, was incubated by CoinList’s seed program. Nilogy’s Founding CTO was the Founding Engineer of Uber (Conrad Whelan), the Chief Strategy Officer was the Founding CMO of Hedera Hashgraph (Andrew Masanto), the Chief Business Officer is the Founder of Indiegogo (Slava Rubin), the General Counsel was the Associate General Counsel of Coinbase (Lindsay Danas Cohen), along with builders hailing from Consensys, LayerZero, Polygon and Google.
“This is a major step on our way to building the leading ecosystem for sensitive data together with one of the top players in the market for the handling of such valuable data. We are looking forward to the cooperation which will add significant trust and competence to both initiatives”, said Peter Koenig, CEO of Dwinity.
Picture is available at AP
Contact for this publication: Christian Mangold [email protected]
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