Terminal automation: Key market research findings
- Implementation of analytic models
- Growing demand from oil and gas sector
Technavio’s market research analysts estimate the global terminal automation market, to grow at a CAGR of around 6% between 2016 and 2020. Terminal automation offers centralized and systematic control in bulk loading terminal operations. It enables real-time and accurate data collection, reduces losses, prevents accidents, improves safety and security, protects the natural environment, expedites building processes, and enables centralized control. APAC dominates the terminal automation market, due to the rapid development of infrastructure, agriculture, and construction activities in the region.
The new market research report from Technavio provides a breakdown and analysis of the terminal automation segments by technology.
“Vendors in the automation solutions market are implementing analytic models to improve their business and boost their value proposition. Analytics and statistical models can be customized to meet market requirements. The use of such technologies boosts decision making with the least margin for errors, helps anticipate future problems, and identifies the cause of errors,” says Bharath Kanniappan, Lead Analyst, Industrial Automation, Technavio Research.
The oil and gas industry is the major end-user of terminal automation, accounting for 50% of the overall market share. Terminal automation technology in the oil and gas industry is the simplest and most cost-efficient means of generating a steady and reliable supply of produce. Most terminals in this industry have minimum automation, and this has widened the possibilities of future demand and incorporation of terminal automation in this industry.
The leading vendors in the global terminal automation market include Honeywell International, Emerson Electric, ABB, Schneider Electric, and Rockwell Automation. This market has grown out to be an organized market, where the regional and local vendors offer cost-effective customized automation control systems. Competition is expected to intensify during the forecast period, following increased product extensions, technological innovation, and rise in M&A.
A more detailed analysis is available in the Technavio report, Global Terminal Automation Market 2016-2020.
We can customize reports by other regions and specific segments upon request.
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