LONDON--(BUSINESS WIRE)--The chemical software market is expected to grow by USD 192.36 million, progressing at a CAGR of over 5% during the forecast period.

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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.

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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 markets 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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Key Topics Covered:

Executive Summary

Market Landscape

Market Sizing

Five Forces Analysis

Market Segmentation by Application

Customer Landscape

Geographic Landscape

Vendor Landscape

Vendor Analysis

Appendix

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Global Chemical Software Market Research 2020-2024 | Key Insights and Industry Planning Structure | Technavio - Business Wire