Terminal Automation Market Gains Most of The Growth With The High Consumption of Oil & Gas Since The Past Few Years
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According to the market research report “Terminal Automation Market: Global Industry Analysis By Product (Control System, Integrated Safety System), By Mode (Truck, Marine), By End User Type (Cement, Chemical), By Type (Software, Services, Hardware) & By Region, Forecast (2016-2021)”, published by IndustryARC, estimates that North America will register high growth till the end of the forecast period.
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Terminal Automation Systems are the combination of hardware and software. A standard terminal provides facilities for storing products like oil, gas and chemicals.
It refers to both storage and distribution centers.
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Prior to transportation to its desired destinations oil and chemicals are to be stored in this terminals for safety. Terminal Automation Market is acquiring a technology which is one of the most cost efficient and practical solutions for enhancing the overall performance.
Terminal automation system aids in the coordination of operations, such as receipt, storage and distribution of products, prevention of fraud, raising alarms for disturbing events and ensuring the overall safety of the terminal among others. Terminal automation systems require relatively less real-time process control and can offer superior transactional capabilities.
Scope & Regional Forecast of the Terminal Automation Market
The Rise in population leads to high consumption of oil and gas, hence the demand for oil and gas is being increased. Growth in oil and gas refineries are creating new opportunities for the market.
The higher level of safety and security provided by these systems are developing the Terminal Automation Market. The recent growth in interest for shale gas and growing exploration of shale gas can offer unique growth opportunities for the market globally.
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However, relatively higher costs associated with the implementation of automation systems is expected to act as a barrier to the growth of global Terminal Automation Market during the forecast period. Besides, cyber threats and concerns associated regarding data security are likely to hamper growth in adoption of such automation systems, especially among small terminal operators.
North America is driving the high growth of the Terminal Automation Market due to the higher consumption of oil in this region. The Asia-Pacific projected to drive fast growth during the forecast period.
Slower growth is being seen in the oil consuming nations such as China and India. Europe is expected to register significant growth over the forecast period, followed by Rest of the World.
Segmentations & Key Players Involved in the Terminal Automation Market
The Terminal Automation Market can be broken down into various segmentations on the basis of -
- Product: Control System and Integrated Safety System.
- Mode: Truck, Pipeline and Marine.
- End User Industry: Cement, Oil & Gas and Chemical and Petrochemical.
- Type: Software, Service and Hardware.
- Region: North America, Europe, Asia-Pacific and Rest of the World.
Some of the key players involved in the Terminal Automation Market are as follows:
- Intech Process Automation Inc.
- Emerson Electric Co.
- Honeywell International Inc
- Inter Terminals Ltd
- Simens AG
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Why access this report?
* The overall market has been consolidated from the perspective of different geographic locations and key economies for this market.
* Identifies growth sectors and factors driving or constraining the market.
* The market is analyzed based on the key attributes such as the power in the hands of producers and consumers, analysis on the degree of competition, and threats from substitutes and new entrants.
* The study includes the demand of this particular market on a global and regional scale for a five year period of 2016 - 2021, to assess how the market will develop.
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