Terminal automation systems are a combination of hardware and software used to enhance the security of various types of terminals. They have the ability to tracks, regulate and handle the complete process of material handling from receipt to processing to delivery. They have the ability to enhance the productivity, and also decrease the cost of execution. They are widely used in industries such as oil & gas, chemicals, and other.
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Some of the factors responsible for the growth of the terminal automation market in the forecast period of 2019 -2026 are:
The Global Terminal Automation Market is segmented on the basis of offerings as hardware, software & services; project type is segmented on the basis of brownfield projects, and Greenfield projects and vertical is segmented as oil & gas, chemical, and others.
Some of the recent development in the terminal automation by some of the prominent player in the forecast period of 2019- 2026 are:
Terminal automation market is to register a substantial CAGR of 6.50% in the forecast period of 2019-2026
Few of the major competitors currently working in the global terminal automation market are Schneider Electric, Emerson Electric Co., ABB, Siemens, Honeywell International Inc, TechnipFMC plc, Rockwell Automation, Inc., LARSEN & TOUBRO LIMITED., Implico, GENERAL ELECTRIC, Yokogawa India Ltd., Inter Terminals Limited, INTECH Process Automation Inc, Endress+Hauser Management AG, Varec, Inc., Chemtrols Industries Pvt. Ltd., Larsen & Toubro Infotech Limited, Advanced Sys-tek Pvt. Ltd., General Atomics among others.
There is increase in the demand for environmentally cleaner fuel which has led to the increasing adoption of natural gas which is affecting the market growth. Increasing terminal automation projects worldwide and rising integration of cloud technologies is also expected to enhance the market demand. Rising concern associated with the safety protection and reliability issues in terminal areas and increasing interest in advanced operational activities will drive the market growth. Growth in the oil & gas refineries will also accelerate the growth of this market. On the other hand, stringent rules and norms associated with the environment will further create new opportunities for the terminal automation market in the forecast period of 2019- 2026.
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Global Terminal Automation Market – Industry Trends and Forecast to 2026