London, 23 April 2015: Technavio, the independent tech-focused global research firm, has published a report on the terminal automation market in the oil and gas industry in North America 2015-2019, which is expected to grow at a CAGR of 6.22% during the forecast period of 2014-2019.
Terminal automation in the oil and gas industry offers a wide range of services such as evaluating and monitoring systems of terminals located at remote locations, monitoring sensors at terminals, analyzing and evaluating the execution of operations, and data transferring.
The terminal automation system helps in controlling the overall costs of companies by maintaining transportation reliability and reducing unplanned downtime. It allows real-time monitoring of the transportation process from remote locations to make informed and calculated decisions.
“The oil and gas producers in North America are looking to export this excess production to countries that are facing shortage of it and where prices of natural gas are comparatively high,” says Faisal Ghaus, Vice President of Technavio.
“The oil and gas producers are undertaking projects to develop new pipelines to avail the smooth transition of their produce to the required destination.”
Key Market Drivers
- Rise in production of domestic oil and gas in US
- Widened scope of brownfield terminal projects
- Need to improve efficiency with cost control
- Need to adhere to environmental and safety regulations
Key Market Trends
- Increased growth of midstream infrastructure
- Development of integrated safety solutions
- Blurring Lines of distinction between DCS, PLC, and
Key Market Vendors
- ABB Ltd.
- Emerson Process Management
- Honeywell International Inc.
- Siemens AG
To define the market circumstances in the next 3-4 years, Technavio analysts have conducted in-depth analysis of the impact of market drivers, challenges and trends featuring data on product segmentations, vendor shares, growth rate by revenue and an evaluation of the different buying criteria in the order of importance.
https://www.technavio.com/%3Cp%3EIf%20you%20are%20interested%20in%20more%…
