ABI Research forecasts that pulp and paper mills will be spending $3.6 billion on digital technologies in 2030.
Global pulp and paper mills will be making investment in process control software and data analytics to avoid unplanned downtime.
ABI Research finds that the deployment of digital technologies will grow by a 7 percent CAGR between 2021 and 2030 and result in a $3.6 billion spend at the end of the decade.
Technology suppliers can help mills plan for adjustments and retain equipment effectiveness, said Michael Larner, Industrial and Manufacturing Principal Analyst at ABI Research.
Spending on IoT devices and the supporting platforms that support efforts to prevent unplanned downtime will be worth $1 billion in 2030.
Spend on data analytics to evaluate and optimize the production processes will be worth $370 million. The foundations for the upswing in the flow of data will be investments in connectivity (forecasted to reach US$450 million in 2030) and network services (US$30 million in 2030).
Cyber security investment will be worth $120 million at the end of the decade.
Leading technology providers helping mills extract and make sense of data from their machines include AspenTech, dataPARC, Eigen Innovations, Seeq, and Senseye, while Emerson, Honeywell, and MRPeasy look to help mills design their operations.