Global Terminal Automation Industry by 2026 – Growing demand for terminal automation systems for software and services is driving growth


DUBLIN, December 16, 2021– (BUSINESS WIRE) – The Terminal Automation Market – Forecasts from 2021 to 2026 report was added to ResearchAndMarkets.com to offer.

The global terminal automation market is forecast to grow at an annual growth rate of 4.31% to $ 6.374 billion by 2026, up from $ 4.744 billion in 2019.

Mentioned companies

  • ABB Ltd

  • Emerson Electric Co.

  • Endress + Hauser Management AG

  • Honeywell International Inc.

  • Implicio Group

  • Intech Process Automation Process Inc.

  • Inter Terminals Ltd

  • Larsen & Toubro Limited

  • Rockwell Automation Inc.

  • Schneider Electric

Terminal automation refers to the process that involves automating various control functions of devices and machines, and terminals, on the other hand, refers to the storage location or facility for various products such as oil and gas chemicals that need to be transported to the point of sale (POS).

These systems consist of many mechanical, hydraulic, pneumatic, electronic and computerized systems for controlling devices and processes and also provide central and systematic control over the entire product handling process, which also includes the distribution, storage, balancing, receiving and loading of bulk goods. Reduced operating and maintenance costs, improved productivity, and improved plant and personnel safety are some of the additional benefits.

Driving factors

The primary market driver is the extensive use of terminal automation in all industries due to the higher security level of these systems. As the oil and gas industry as well as the chemical industry slowly recover from the effects of the pandemic, the demand for an automated terminal system that has higher security, higher efficiency, effective management and distribution with the increasing demand for fuel has increased recently. One of the driving factors has also been the modernization of the greenfield infrastructure recently.

In addition, increasing environmental concerns and public health threats have increased the demand for these systems. All of these factors have led to an increasing demand for terminal automation systems and the market has grown rapidly in recent years. As the world has progressed, so has the demand for these systems as they prove useful in remote site monitoring, cloud-based automation, control mobility, intelligent event processing, and unmanned platforms that support some of the applications of the are these systems. They have a wide variety of uses in different industries.

Growth factors

Increasing demand for Terminal Automated System for Software and Services

The market is expected to grow with a high CAGR due to the high demand for automated systems in software and services to improve the overall efficiency of terminals and to make optimal use of these systems. These automated systems will improve overall efficiency and lead to greater industry growth.

Upcoming Terminal Automated System projects

As the industries grow, the need for automated terminal systems in various areas has increased relatively as they prove to be beneficial in remote site monitoring, cloud-based automation, control mobility, intelligent event processing, and unmanned platforms. In addition, the oil and gas industry as well as the chemical industry has proven to be a major player in the market, requiring the latest technologies such as real-time security alarms, automated data collection, product movement, user interface and tank farm automation. Los Angeles International Airport has started work on a $ 230 million project that will include the use of these automated systems.

Restrictions

Vulnerabilities against cyber security attacks

The oil and gas industry as well as the chemical industry are among the pioneers in the market; over time, new technologies such as the use of digital technologies have been developed. The dependence on cyber structures and also some low-cost operating concepts are used to increase overall efficiency, but the increase in cyber attacks such as bid-lease data, seismic impacts and system damage has made the system vulnerable. The number of cyber attacks has increased rapidly, and some of these attacks have gone undetected or have not been reported due to the widespread use of digital technologies. Since many attacks are unknown to the organization, these attacks represent a great challenge for the company.

Market segmentation

By end-user industry, the terminal automation market is segmented into Oil and Gas, Chemical, and Others, which are also expected to be the largest in terms of market shares. This large growth is mainly due to the existence of a large number of such terminals and the increasing automation of such terminals worldwide.

The terminal automation market can also be segmented by offerings, which are further broken down into hardware and software. The software segment is growing rapidly. The main reason for the growth of the software segment is the widespread demand for automated solutions to improve the operational efficiency of terminals.

Given the geographic location, the terminal automation market is expected to experience tremendous growth due to the increasing number of terminal automation projects in countries such as India, Malaysia and the Philippines. The automation market is mainly taken over by leading countries such as North America, Europe, Asia Pacific and others. The automation market in India is in full swing due to numerous petrochemical projects and government initiatives such as “Make in India”.

Please visit https://www.researchandmarkets.com/r/mefur5 for more information on this report

View source version on businesswire.com: https://www.businesswire.com/news/home/20211216005602/en/

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