The terminal automation market was valued at USD 3.82 Billion in 2016 and is expected to reach USD 5.21 Billion by 2022 at a CAGR of 5.15% between 2017 and 2022.
- Advertising -
The terminal automation market is driven by factors such as the increasing investment for upgrading brownfield terminal infrastructure in North America and the growing adoption of natural gas owing to the increased demand for environmentally cleaner fuels.
The terminal automation market was valued at USD 3.82 billion in 2016 and is expected to reach USD 5.21 billion by 2022, at a CAGR of 5.15% between 2017 and 2022. The companies are moving their software packages to the cloud technologies for enhanced efficiency in field-based verticals such as oil and gas, petrochemical, and chemical.
The APAC and RoW regions have a huge demand for greenfield terminal automation projects compared to other regions.
- Advertising -
The initiatives taken by the Government of UAE to expand the oil production by up to 30% by 2020 is a key factor contributing to the growth of terminal automation market in the Middle East. The UAE is currently focusing on enhanced oil recovery (EOR) techniques in mature oil fields to increase its oil production.
The major opportunity for this market is the growing demand for the integration of cloud technologies across all verticals. Some of the major players operating in the terminal automation market include ABB Ltd.
(Switzerland), Honeywell International, Inc. (US), Siemens AG (Germany), Yokogawa Electric Corporation (Japan), Rockwell Automation, Inc.
(US), and Schneider Electric (France).
Top 2 players in the terminal automation market:
ABB Ltd. focuses on both organic and inorganic strategies to maintain its position in the market. For instance, in May 2013, ABB Ltd.
(Switzerland) announced a partnership with GlobaLogix (US) to provide a new supervisory control and data acquisition (SCADA) Software-as-a-Service (SaaS) solution that is based on ABB’s SCADAvantage product. The partnership aims to provide a robust and open SCADA service to reduce the operational risks and maintenance burden and also to lower the upfront costs.
Siemens AG focuses mainly on inorganic strategies, such as agreements. For instance, in August 2016, Siemens AG (Germany) signed a memorandum of understanding (MoU) with the Government of Iraq to strengthen its collaboration with the Ministry of Energy and the Ministry of Oil & Gas for modernizing Iraq’s oil and gas industry.
The company has made several product launches in the terminal automation market. For instance, in April 2013, Siemens AG (Germany) launched a new product SIMATIC WinCC V7.2—an upgraded version of SIMATIC WinCC—which supports the integration of 18 optionally redundant WinCC servers in a single project.
The stakeholders involved in the value chain of this industry include raw material and equipment suppliers, terminal operators, automation providers, control system manufacturers, transportation providers, Government agencies, research organizations, and investor communities.
Category: Market Research Publishers and RetailersCompany about: MarketsandMarkets™ provides quantified B2B research on 30,000 high growth niche opportunities/threats which will impact 70% to 80% of worldwide companies’ revenues. Currently servicing 5000 customers worldwide including 80% of global Fortune 1000 companies as clients. Almost 75,000 top officers across eight industries worldwide approach MarketsandMarkets™ for their painpoints around revenues decisions. Our 850 fulltime analyst and SMEs at MarketsandMarkets™ are tracking global high growth ...
For more information: