LONDON–(BUSINESS WIRE)–Jan 18, 2021–
The chemical software market is expected to grow by USD 192.36 million, progressing at a CAGR of over 5% during the forecast period.
Technavio has announced its latest market research report titled Global Chemical Software Market 2020-2024 (Graphic: Business Wire)
The rise in digitalization is one of the major factor propelling the market growth. However, the system integration issues and interoperability glitches will hamper the growth market.
Chemical Software Market: Application Landscape
Based on the application, the chemical process simulation segment led the market in 2019. The market is driven by the rise in digitalization in chemical companies to improve operational efficiency. However, market growth in the chemical process simulation segment will be slower than the growth of the market in the inventory management and ISO management segments.
Chemical Software Market: Geographic Landscape
By geography, North America is going to have a lucrative growth during the forecast period. About 38% of the market’s overall growth is expected to originate from North America. Factors such as the presence of global chemical companies, the rising trend of digitalization in chemical companies, and the strict laws associated with the chemical industry are fostering the growth of the market in North America.
The US and Canada are the key markets for chemical software in North America. Market growth in this region will be faster than the growth of the market in South America.
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- ANSYS Inc.
- Aspen Technology Inc.
- AVEVA Group Plc
- ChemAxon Ltd.
- Dassault Systèmes SE
- Deacom Inc.
- Frontline Data Solutions
- HCL Technologies Ltd.
- Oracle Corp.
- SAP SE
- Market share assessments for the regional and country-level segments
- Strategic recommendations for the new entrants
- Covers market data for 2019, 2020, until 2024
- Market trends (drivers, opportunities, threats, challenges, investment opportunities, and recommendations)
- Strategic recommendations in key business segments based on the market estimations
- Competitive landscaping mapping the key common trends
- Company profiling with detailed strategies, financials, and recent developments
- Supply chain trends mapping the latest technological advancements
Technavio suggests three forecast scenarios (optimistic, probable, and pessimistic) considering the impact of COVID-19. Technavio’s in-depth research has direct and indirect COVID-19 impacted market research reports.
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- Market ecosystem
- Value chain analysis
- Market definition
- Market segment analysis
- Market size 2019
- Market outlook: Forecast for 2019 – 2024
- Five forces summary
- Bargaining power of buyers
- Bargaining power of suppliers
- Threat of new entrants
- Threat of substitutes
- Threat of rivalry
- Market condition
Market Segmentation by Application
- Market segments
- Comparison by Application
- Chemical process simulation – Market size and forecast 2019-2024
- Inventory management – Market size and forecast 2019-2024
- ISO management – Market size and forecast 2019-2024
- Others – Market size and forecast 2019-2024
- Market opportunity by Application
- Geographic segmentation
- Geographic comparison
- North America – Market size and forecast 2019-2024
- Europe – Market size and forecast 2019-2024
- APAC – Market size and forecast 2019-2024
- MEA – Market size and forecast 2019-2024
- South America – Market size and forecast 2019-2024
- Key leading countries
- Market opportunity by geography
- Market drivers
- Market challenges
- Market trends
- Vendor landscape
- Landscape disruption
- Competitive scenario
- Vendors covered
- Market positioning of vendors
- ANSYS Inc.
- Aspen Technology Inc.
- AVEVA Group Plc
- ChemAxon Ltd.
- Dassault Systèmes SE
- Deacom Inc.
- Frontline Data Solutions
- HCL Technologies Ltd.
- Oracle Corp.
- SAP SE
- Scope of the report
- Currency conversion rates for US$
- Research methodology
- List of abbreviations
Technavio is a leading global technology research and advisory company. Their research and analysis focuses on emerging market trends and provides actionable insights to help businesses identify market opportunities and develop effective strategies to optimize their market positions. With over 500 specialized analysts, Technavio’s report library consists of more than 17,000 reports and counting, covering 800 technologies, spanning across 50 countries. Their client base consists of enterprises of all sizes, including more than 100 Fortune 500 companies. This growing client base relies on Technavio’s comprehensive coverage, extensive research, and actionable market insights to identify opportunities in existing and potential markets and assess their competitive positions within changing market scenarios.
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INDUSTRY KEYWORD: SOFTWARE TECHNOLOGY CHEMICALS/PLASTICS MANUFACTURING
SOURCE: Technavio Research
Copyright Business Wire 2021.
PUB: 01/18/2021 02:33 PM/DISC: 01/18/2021 02:34 PM
Copyright Business Wire 2021.
