Global Terminal Automation Market Size By Offerings (Control Systems, Security Systems, Tank Gauging System), By End-User (Oil & Gas, Chemical), By Geographic Scope And Forecast
Report ID: 34434|No. of Pages: 202
Global Terminal Automation Market Size By Offerings (Control Systems, Security Systems, Tank Gauging System), By End-User (Oil & Gas, Chemical), By Geographic Scope And Forecast
Terminal Automation Market Size And Forecast
Terminal Automation Market size was valued at USD 8.18 Billion in 2023 and is projected to reach USD 11.84 Billion by 2031 growing at a CAGR of 5.22% from 2024 to 2031.
- Terminal automation is the use of technology to manage and control terminal operations such as loading, unloading and storing liquids and gases. It merges hardware and software technologies to improve efficiency.
- Automating duties such as inventory management, scheduling and real-time monitoring helps to speed terminal operations, improve safety and eliminate human error. It ensures accurate and efficient processes.
- Terminal automation will benefit from AI and IoT in the future, allowing for better predictive maintenance, real-time analytics and autonomous operations. This will further improve terminal efficiency, safety and environmental compliance.
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Global Terminal Automation Market Dynamics
The key market dynamics that are shaping the global Terminal Automation Market include:
Key Market Drivers:
- Operational Efficiency: Automation improves productivity and accuracy in terminal operations while lowering manual labor and operational costs.
- Safety and Compliance: Automated systems improve safety by reducing human error and ensuring regulatory compliance through accurate monitoring and control.
- Technological Advancements: Technological advancements include AI, IoT and big data innovations that promote automation, allowing for more advanced and integrated terminal management systems.
- Demand for Real-Time Data: The requirement for real-time monitoring and analytics to improve decision-making and operational transparency is driving the adoption of automation systems.
Key Challenges:
- High Initial Costs: The deployment of terminal automation systems necessitates a significant upfront investment in technology and equipment, which can be prohibitive for smaller operators and new entrants.
- Complex Integration: Integrating automation technologies with existing legacy systems and processes can be difficult and time-consuming, potentially disrupting operations and necessitating extensive customization.
- Security Risks: As automation systems grow more interconnected, they become subject to cyber-attacks and data breaches, creating worries about the security and integrity of vital infrastructure.
Key Trends:
- Integration of AI and Machine Learning: AI and machine learning improve predictive maintenance, process optimization and real-time decision-making, resulting in more efficient and automated terminal operations.
- Adoption of IoT and Smart Sensors: The use of IoT and smart sensors is growing, allowing for real-time monitoring, data collecting and better asset management, which improves operational efficiency and safety.
- Focus on Cybersecurity: As automation increases, there is a greater emphasis on cybersecurity measures to safeguard terminal systems from potential cyber threats and assure data integrity.
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Global Terminal Automation Market Regional Analysis
Here is a more detailed regional analysis of the global Terminal Automation Market:
North America:
- According to Verified Market Research, North America is expected to dominate the global Terminal Automation Market.
- North America is likely to dominate the worldwide Terminal Automation Market due to its advanced infrastructure, widespread use of automation technology and major investments in modernization and efficiency.
- The region benefits from a strong industrial base, technical innovation and severe safety requirements, which drive the development and deployment of automation solutions in terminal operations.
Asia Pacific:
- According to Verified Market Research, Asia Pacific is fastest growing region in global Terminal Automation Market.
- Asia-Pacific is the fastest-growing area in the global Terminal Automation Market, owing to rapid industrialization, rising infrastructure investments and expanding oil and gas industries.
- The region’s growing demand for efficient and safe terminal operations, combined with technology improvements, is supporting the spike in automation usage, positioning it as a significant market growth driver.
Global Terminal Automation Market: Segmentation Analysis
The Global Terminal Automation Market is segmented on the basis of Offerings and End-User.
Terminal Automation Market, By Offerings
- Control Systems
- Security Systems
- Tank Gauging System
- Tank Loading Area
- Software
Based on Offerings, The market is segmented into Control Systems, Security Systems, Tank Gauging System, Tank Loading Area, and Software. Control systems are the global Terminal Automation Market’s dominant player. They are necessary for managing and optimizing terminal operations, such as process control, monitoring and automation, making them an important component in guaranteeing effective and safe terminal management.
Terminal Automation Market, By End-User
- Oil & Gas
- Chemical
Based on End-User, The market is segmented into Oil & Gas and Chemical. In the global Terminal Automation Market, the oil & gas sector dominates. This is because it makes considerable use of automation to manage complicated and large-scale processes, ensure safety and maximize efficiency in the processing and distribution of petroleum products.
Key Players
The “Global Terminal Automation Market study report will provide valuable insight with an emphasis on the global market. The major players in the market are Varec, Inc., Rockwell Automation, Inc., Honeywell International, Inc., ABB Ltd., Technipfmc PLC, Siemens AG and Endress+Hauser Group Services AG.
Our market analysis also entails a section solely dedicated to such major players wherein our analysts provide an insight into the financial statements of all the major players, along with product benchmarking and SWOT analysis.
Global Terminal Automation Market Recent Developments
- In August 2023, Evergreen Marine Corp., in collaboration with Taiwan International Ports Corporation, will open Terminal 7 in Kaohsiung Port, becoming Taiwan’s first completely automated container terminal. This port has remote-controlled gantry cranes, 5 berths and other features that will make it easier to handle ultra-large cargo ships.
- In July 2024, OPW Engineered Systems announced the release of the new 8800 Series Overfill and Ground Monitoring system. It is an advanced solution for terminal operators looking to improve the user experience and safety of their filling processes. This series has advanced capabilities that can be seamlessly integrated into existing terminal automation systems. It has LED lights and pictograms that may quickly explain the loading status, regardless of language.
Report Scope
| REPORT ATTRIBUTES | DETAILS |
|---|---|
| Study Period | 2020-2031 |
| Base Year | 2023 |
| Forecast Period | 2024-2031 |
| Historical Period | 2020-2022 |
| Unit | Value (USD Billion) |
| Key Companies Profiled | Varec, Inc., Rockwell Automation, Inc., Honeywell International, Inc., ABB Ltd., Technipfmc PLC, Siemens AG and Endress+Hauser Group Services AG. |
| Segments Covered |
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| Customization Scope | Free report customization (equivalent up to 4 analyst’s working days) with purchase. Addition or alteration to country, regional & segment scope |
Research Methodology of Verified Market Research:
To know more about the Research Methodology and other aspects of the research study, kindly get in touch with our Sales Team at Verified Market Research.
Reasons to Purchase this Report
• Qualitative and quantitative analysis of the market based on segmentation involving both economic as well as non-economic factors
• Provision of market value (USD Billion) data for each segment and sub-segment
• Indicates the region and segment that is expected to witness the fastest growth as well as to dominate the market
• Analysis by geography highlighting the consumption of the product/service in the region as well as indicating the factors that are affecting the market within each region
• Competitive landscape which incorporates the market ranking of the major players, along with new service/product launches, partnerships, business expansions, and acquisitions in the past five years of companies profiled
• Extensive company profiles comprising of company overview, company insights, product benchmarking, and SWOT analysis for the major market players
• The current as well as the future market outlook of the industry with respect to recent developments which involve growth opportunities and drivers as well as challenges and restraints of both emerging as well as developed regions
• Includes in-depth analysis of the market of various perspectives through Porter’s five forces analysis
• Provides insight into the market through Value Chain
• Market dynamics scenario, along with growth opportunities of the market in the years to come
• 6-month post-sales analyst support
Customization of the Report
• In case of any Queries or Customization Requirements please connect with our sales team, who will ensure that your requirements are met.
Frequently Asked Questions
1 INTRODUCTION OF GLOBAL TERMINAL AUTOMATION MARKET
1.1 Overview of the Market
1.2 Scope of Report
1.3 Assumptions
2 EXECUTIVE SUMMARY
3 RESEARCH METHODOLOGY OF VERIFIED MARKET RESEARCH
3.1 Data Mining
3.2 Validation
3.3 Primary Interviews
3.4 List of Data Sources
4 GLOBAL TERMINAL AUTOMATION MARKET OUTLOOK
4.1 Overview
4.2 Market Dynamics
4.2.1 Drivers
4.2.2 Restraints
4.2.3 Opportunities
4.3 Porters Five Force Model
4.4 Value Chain Analysis
5 GLOBAL TERMINAL AUTOMATION MARKET, BY OFFERINGS
5.1 Overview
5.2 Control Systems
5.3 Security Systems
5.4 Tank Gauging System
5.5 Tank Loading Area
5.6 Software
6 GLOBAL TERMINAL AUTOMATION MARKET, BY END USER
6.1 Overview
6.2 Oil & Gas
6.3 Chemical
7 GLOBAL TERMINAL AUTOMATION MARKET, BY GEOGRAPHY
7.1 Overview
7.2 North America
7.2.1 U.S.
7.2.2 Canada
7.2.3 Mexico
7.3 Europe
7.3.1 Germany
7.3.2 U.K.
7.3.3 France
7.3.4 Rest of Europe
7.4 Asia Pacific
7.4.1 China
7.4.2 Japan
7.4.3 India
7.4.4 Rest of Asia Pacific
7.5 Rest of the World
7.5.1 Latin America
7.5.2 Middle East & Africa
8 GLOBAL TERMINAL AUTOMATION MARKET COMPETITIVE LANDSCAPE
8.1 Overview
8.2 Company Market Ranking
8.3 Key Development Strategies
9 COMPANY PROFILES
9.1 Varec, Inc.
9.1.1 Overview
9.1.2 Financial Performance
9.1.3 Product Outlook
9.1.4 Key Developments
9.2 Rockwell Automation, Inc.
9.2.1 Overview
9.2.2 Financial Performance
9.2.3 Product Outlook
9.2.4 Key Developments
9.3 Honeywell International Inc.
9.3.1 Overview
9.3.2 Financial Performance
9.3.3 Product Outlook
9.3.4 Key Developments
9.4 ABB Ltd.
9.4.1 Overview
9.4.2 Financial Performance
9.4.3 Product Outlook
9.4.4 Key Developments
9.5 Technipfmc PLC
9.5.1 Overview
9.5.2 Financial Performance
9.5.3 Product Outlook
9.5.4 Key Developments
9.6 Siemens AG
9.6.1 Overview
9.6.2 Financial Performance
9.6.3 Product Outlook
9.6.4 Key Developments
9.7 Endress+Hauser Group Services AG
9.7.1 Overview
9.7.2 Financial Performance
9.7.3 Product Outlook
9.7.4 Key Developments
10 KEY DEVELOPMENTS
10.1 Product Launches/Developments
10.2 Mergers and Acquisitions
10.3 Business Expansions
10.4 Partnerships and Collaborations
11 Appendix
11.1 Related Research
Report Research Methodology
Verified Market Research uses the latest researching tools to offer accurate data insights. Our experts deliver the best research reports that have revenue generating recommendations. Analysts carry out extensive research using both top-down and bottom up methods. This helps in exploring the market from different dimensions.
This additionally supports the market researchers in segmenting different segments of the market for analysing them individually.
We appoint data triangulation strategies to explore different areas of the market. This way, we ensure that all our clients get reliable insights associated with the market. Different elements of research methodology appointed by our experts include:
Exploratory data mining
Market is filled with data. All the data is collected in raw format that undergoes a strict filtering system to ensure that only the required data is left behind. The leftover data is properly validated and its authenticity (of source) is checked before using it further. We also collect and mix the data from our previous market research reports.
All the previous reports are stored in our large in-house data repository. Also, the experts gather reliable information from the paid databases.
For understanding the entire market landscape, we need to get details about the past and ongoing trends also. To achieve this, we collect data from different members of the market (distributors and suppliers) along with government websites.
Last piece of the ‘market research’ puzzle is done by going through the data collected from questionnaires, journals and surveys. VMR analysts also give emphasis to different industry dynamics such as market drivers, restraints and monetary trends. As a result, the final set of collected data is a combination of different forms of raw statistics. All of this data is carved into usable information by putting it through authentication procedures and by using best in-class cross-validation techniques.
Data Collection Matrix
| Perspective | Primary Research | Secondary Research |
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Econometrics and data visualization model
Our analysts offer market evaluations and forecasts using the industry-first simulation models. They utilize the BI-enabled dashboard to deliver real-time market statistics. With the help of embedded analytics, the clients can get details associated with brand analysis. They can also use the online reporting software to understand the different key performance indicators.
All the research models are customized to the prerequisites shared by the global clients.
The collected data includes market dynamics, technology landscape, application development and pricing trends. All of this is fed to the research model which then churns out the relevant data for market study.
Our market research experts offer both short-term (econometric models) and long-term analysis (technology market model) of the market in the same report. This way, the clients can achieve all their goals along with jumping on the emerging opportunities. Technological advancements, new product launches and money flow of the market is compared in different cases to showcase their impacts over the forecasted period.
Analysts use correlation, regression and time series analysis to deliver reliable business insights. Our experienced team of professionals diffuse the technology landscape, regulatory frameworks, economic outlook and business principles to share the details of external factors on the market under investigation.
Different demographics are analyzed individually to give appropriate details about the market. After this, all the region-wise data is joined together to serve the clients with glo-cal perspective. We ensure that all the data is accurate and all the actionable recommendations can be achieved in record time. We work with our clients in every step of the work, from exploring the market to implementing business plans. We largely focus on the following parameters for forecasting about the market under lens:
- Market drivers and restraints, along with their current and expected impact
- Raw material scenario and supply v/s price trends
- Regulatory scenario and expected developments
- Current capacity and expected capacity additions up to 2027
We assign different weights to the above parameters. This way, we are empowered to quantify their impact on the market’s momentum. Further, it helps us in delivering the evidence related to market growth rates.
Primary validation
The last step of the report making revolves around forecasting of the market. Exhaustive interviews of the industry experts and decision makers of the esteemed organizations are taken to validate the findings of our experts.
The assumptions that are made to obtain the statistics and data elements are cross-checked by interviewing managers over F2F discussions as well as over phone calls.
Different members of the market’s value chain such as suppliers, distributors, vendors and end consumers are also approached to deliver an unbiased market picture. All the interviews are conducted across the globe. There is no language barrier due to our experienced and multi-lingual team of professionals. Interviews have the capability to offer critical insights about the market. Current business scenarios and future market expectations escalate the quality of our five-star rated market research reports. Our highly trained team use the primary research with Key Industry Participants (KIPs) for validating the market forecasts:
- Established market players
- Raw data suppliers
- Network participants such as distributors
- End consumers
The aims of doing primary research are:
- Verifying the collected data in terms of accuracy and reliability.
- To understand the ongoing market trends and to foresee the future market growth patterns.
Industry Analysis Matrix
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