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Research Report-Technological Advances Likely to Drive Terminal Automation Market
The terminal automation market is segmented by offering, project type, vertical and regions. Based on the offering, the global terminal automation market is divided into Hardware (SCADA, PLC, security system, field devices, tank loading area) and software& services. On the basis of project type, the global terminal automation market is divided into brownfield and greenfield. By vertical, the global terminal automation market is segmented into oil & gas, chemical, and others.
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Among all the market segments, the market for software & services is anticipated to grow at a swift rate during the future period. The major factor promoting the growth of the software & services sector in the terminal automation market is the rise in demand for automating solutions in order to augment the operational efficiency of terminals.
The global terminal automation market is analyzed to grow in the forecast years owing to the increasing need to enhance efficiency along with cost control, to promote market growth during the future years. Terminal automation strategies have transformed processes like loading, unloading, and produce distribution in terms of productivity, security, and safety. These automation strategies are being used across varied industrial sectors to augment their existing systems. The terminal automation strategies helps to enhance transport feasibility as well as efficiency, conservation of energy, and permit real-time supervision as well as monitoring, particularly in inaccessible hazardous areas. These benefits lead to its increased adoption during the future period.
Based on regions, the global terminal automation market is segmented into North America, Europe, Asia Pacific, Middle East & Africa (MEA), and Latin America. The Asia-Pacific region is expected to command the maximum market share for terminal automation during the forecast period. Factors such as increased demand from the manufacturing sector, such as the cement, chemicals and petrochemicals industry, in order to enhance operational efficiency, reduce operational costs, preserve the environment, and uphold employee safety will result in the strong market growth.
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The global terminal automation market is expected to showcase intense growth during the forecast period. The global market is highly organized owing to the presence of some large and small players. The vendors’ rising concentration on product innovation and research and development activities will enable them to increase their market footprint. The major companies that provide terminal automation strategies include General Electric Honeywell, Emerson Electric, ABB Ltd, Endress+Hauser, Yokogawa Electric, Schneider Electric, Rockwell Automation, Siemens, Cimation, FMC Technology, and Invensys. among others.
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