23-Nov-2021 | Zion Market Research
Major companies in Terminal Automation market are ABB Ltd., Schneider Electric, Yokogawa Electric Corporation, Honeywell International Inc., Emerson Electric Co., Siemens AG, Endress+Hauser Management AG, Rockwell Automation Inc., TechnipFMC plc, Implico Group.
According to analysts at Zion Market Research, the global Terminal Automation market accounted for more than USD 5.25 Billion in 2020 and is expected to reach more than USD 8.63 Billion by 2028, growing at a CAGR of more than 6.4% from 2021 to 2028.
This review is based on a report by Zion Market Research, titled “Terminal Automation System Market By Offerings (Hardware and Software & Services), By Project Type (Brownfield Projects and Greenfield Projects), By End Use Industry (Oil & Gas, Chemical and Others) and By Region: Global Industry Perspective, Comprehensive Analysis and Forecast, 2021 – 2028.”
Ability to analyse and manage data of Terminal Automation System to Spur Growth
The Global Terminal Automation System Market has boosted its growth in the recent years. The ability to analyse and manage data of the Terminal Automation System is the main reason that has escalated the growth of the global market. Further, terminal automation offers different advantages to the gas and oil industry thus lowering the growth of the global market. Moreover, the real-time data management and welfare of the processes is one of the main factors towering the Global Terminal Automation System Market. In addition, growing concern about security, safety, and accuracy at the terminal areas is also driving the global market growth.
Moreover, development of the old terminals into automated terminals is also contributing to the growth of the global market. Additionally, increasing interest in advanced operational activities is fueling the growth of the global Terminal Automation System Market. On the contrary, the huge cost of ownership is restraining the growth of the global market. Moreover, high cost for transportation and the high maintenance value are the other factor that hinders the growth of the global Terminal Automation System Market.
Growing demand for the Terminal Automation System in the Region Support Asia Pacific Growth
The global market for the Terminal Automation System is geographically divided into the Middle East and Africa, Europe, North America, and Asia Pacific. Concerns such as security, accuracy, and safety at the terminal areas have driven the global market in the countries such as the US and Canada. Conversion of the old terminals to automated terminals and the necessity to incorporate the entire terminal system has escalated the global market in Asia Pacific region. The increasing interest in advanced operational activities is boosting the global market in the Europe.
Browse the full “Terminal Automation System Market By Offerings (Hardware and Software & Services), By Project Type (Brownfield Projects and Greenfield Projects), By End Use Industry (Oil & Gas, Chemical and Others) and By Region: Global Industry Perspective, Comprehensive Analysis and Forecast, 2021 – 2028.” Report at https://www.zionmarketresearch.com/report/terminal-automation-system-market
The Global Terminal Automation market is segmented as follows:
By Project Type
By End Use Industry
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