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(Chicago.CityRegions.Com, March 16, 2017 ) According to a new market research report "Terminal Automation System Market for Oil & Gas by Product (DCS, SCADA, PLC, HMI, Process Safety System, Automatic Tank Gauging, Blending Controls & Security), Transportation Mode (Truck & Pipeline) & Geography - Analysis & Forecast to 2014 - 2020", published by MarketsandMarkets, the global terminal automation market is expected to reach up to $4.4 Billion by 2020, at an estimated CAGR of 8.91% from 2014 to 2020.
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Oil and gas terminal automation market is a fast developing market, which includes eight product segments; namely DCS, SCADA, PLC, PSS, HMI, blending controller, automatic tank gauging, and security.
Terminal Automation System Market for Oil & Gas is known for its ability to manage and analyze data with the aid of its advanced technology. Terminal automation provides various benefits to the oil and gas industry, especially, the betterment of the processes and real time data management. The overall transportation of the oil and gas terminal automation is segmented into two sub segments, which are truck and pipeline. While, geography-wise the market is segmented into Middle East, the Americas (North and South America), Europe, APAC, and ROW.
There are a few factors, which are significantly impacting the Terminal Automation System Market for Oil & Gas in positive way; these factors are helping the terminal automation systems to grow and match the needs and demands of the customer. In other words, these are the market elements, which are supporting the oil and gas terminal automation market, so as to bloom it in the current market scenario. The major driving factors for the global terminal automation system market are: - growing concern on safety, security & accuracy at the terminal areas, upgradation of old terminals to automated terminals, increasing interest in advanced operational activities, and the need to integrate the entire terminal system.
The major companies profiled in this report are:-ABB Ltd (Switzerland), Cimation ( Texas), Emerson electric company ( U.S.), Endress+Hauser AG (Switzerland), FMC technology(U.S.), General Electric (U.S.), Honeywell process solution (U.S.), Invensys Ltd(U.K.), Larsen & Toubro (India), Rockwell Automation Inc.(U.S.), Schneider electric (France) , Siemens AG (Germany), Wipro Ltd (India), and Yokogawa electric corporation (Japan).