Press release
Terminal Management System Market 2019-2023 Global Industry Growth Analysis and Trending Leaders by Honeywell, International, Siemens AG and Rockwell Automation
Key Players:
The key players in the global terminal management system market include Honeywell International, Inc. (US), Electric Corporation (Japan), ABB Ltd. (Switzerland), Siemens AG (Germany), Rockwell Automation, Inc. (US), Yokogawa Electric Corporation (Japan), Schneider Electric (France), Implico GmbH (Germany), Emerson Electric Corporation (US), Endress+Hauser Management AG (Switzerland), General Atomics Corp. (California) among others.
Market Highlights:
The global terminal management system market is a very dynamic market and is expected to witness stable growth over the forecast period. The growth of the terminal management system market is influenced by the growing demand for security solutions, growing demand for installation of automation solutions and increasing need for providing various training and maintenance services. Furthermore, high implementation of terminal management solutions is expected to boost the market over the forecast period. However, the complexity of the system is hindering the growth of the terminal management system market.
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The factors contributing to the growth of the Terminal Management System Market are growing implementation of terminal management solutions in brownfield projects, low operational cost, increasing awareness about security solutions and the increasing awareness about installing automation solutions.
Also, the system manages critical issues faced in bulk terminals such as complexity in handling multiple products and regulatory requirements while improving safety and productivity. The benefits of implementing these solutions reduces the risk of loading incorrect quality of product, the solutions are also used to configurable and improves terminal efficiency among others.
Terminal Management System Market:
According to Market Research Future, market has been segmented into component, project type, vertical and region.
On the basis of project type, the market has been segmented into green field and brownfield. Out of these project type, brownfield accounted for the largest market share. The reason is attributed to operational efficiency, increasing awareness regarding automation and increasing demand for training and maintenance services.
Market Research Future Analysis:
The global Terminal Management System Market is expected to grow significantly over the forecast period, 2017-2023. Oil & Gas segment of terminal management system market globally drives the market majorly due to increasing demand for innovative technologies. The market is expected to have higher growth rate as compared to the previous years.
Asia-Pacific region expected to grow at a fast pace over the forecast period, 2017-2023. Countries such as India, Malaysia and Philippines contributes largely to the overall growth of the market, majorly due to the number of automation projects in this region. For instance, Yokogawa Electric Corporation (Japan) signed a contract with Bharat Petroleum Corporation Limited (India) in 2015 for better automation of truck loading terminals. Hence, a terminal automation system was provided by both the companies.
North-America accounted for the largest market share majorly due to increasing number of green field projects in this region and increasing demand for flexible field device connectivity among others
Global Terminal Management System Market - Segments
The report is segmented into four key dynamics for an easy grasp and enhanced understanding.
By Components: Hardware, Software
By Project Types: Greenfield and Brownfield
By Vertical: Oil & Gas, Chemicals and others.
By Regions: North America, Europe, APAC and Rest-of-the-World.
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Intended Audiences
• Device manufacturers
• Network Operators
• Distributors
• Suppliers
• Research firms
• Software Developers
• Commercial Banks
• Vendors
• Semiconductor Manufacturers
• End-user sectors
• Technology Investors
About Market Research Future:
At Market Research Future (MRFR), we enable our customers to unravel the complexity of various industries through our Cooked Research Report (CRR), Half-Cooked Research Reports (HCRR), Raw Research Reports (3R), Continuous-Feed Research (CFR), and Market Research & Consulting Services.
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