According to
this research report "Terminal
Management System Market by Offering
(Software & Services (Professional & Managed Services)), Project Type
(Brownfield & Greenfield), Vertical (Oil & Gas (Upstream, Midstream,
Downstream), Chemicals), and Geography - Global Forecast to 2023",
the terminal management system market was valued at USD 725.5 Million in 2016
and is expected to reach USD 1097.7 Million by 2023, at a CAGR of 5.94% between
2017 and 2023.
Ask for PDF:
The
implementation of terminal management solution in brownfield terminals reduces
operational costs, and the integrated safety and security solutions enhance the
level of automation at a terminal.
Brownfield
terminals expected to grow at a high rate during the forecast period
Traditional
terminal infrastructure such as pipeline connections, tanker berths, and other
components is already present, and therefore the automation of such existing
terminals by integrating software will help increase the number of brownfield
projects.
The key
reason attributed to the growth of services in the terminal management system
market is the growing awareness for installing automation solutions and the
need for providing services, such as training and maintenance, to improve the
operational efficiency of terminals and make them more efficient.
For
instance, in July 2013, ABB Ltd. (Switzerland) received a contract from Amec
Foster Wheeler plc (UK) to automate the bulk inventory operations management of
the chemicals complex in Saudi Arabia. As per the contract, ABB Ltd. deployed
its T-MAC Plus system to optimize operations, as well as increase energy
efficiency, safety, and control with a scalable solution.
Browse 71
market data tables and 51 figures spread through 156 pages and in-depth TOC on "Terminal Management System Market -
Global Forecast to 2023"
Terminal
management system market in APAC likely to grow at a high CAGR during the
forecast period
Key factors
contributing to the growth of terminal management system market in APAC is the
increase in the number of terminal automation projects in countries such as
India, Malaysia, and the Philippines. For instance, in June 2015, Yokogawa
Electric Corporation (Japan) received a contract worth approximately USD 11
million from Bharat Petroleum Corporation Limited (India) to automate its
truck-loading terminals. According to the contract, Yokogawa Electric
Corporation provided its terminal logistics suite, a terminal automation system
(TAS), to truck loading terminals of Bharat Petroleum Corporation Limited in
India.
Request Free Sample Pages of Report:
Major
players operating in the terminal management system market include ABB Ltd.
(Switzerland), Honeywell International, Inc. (US), Siemens AG (Germany),
Yokogawa Electric Corporation (Japan), Rockwell Automation, Inc. (US),
Schneider Electric (France), Emerson Electric Corporation (US), Endress +
Hauser AG (Switzerland), General Atomics Corp. (California) and Implico GmbH
(Germany).
About
MarketsandMarkets™
MarketsandMarkets™
provides quantified B2B research on 30,000 high growth niche
opportunities/threats which will impact 70% to 80% of worldwide companies’
revenues. Currently servicing 7500 customers worldwide including 80% of global
Fortune 1000 companies as clients. Almost 75,000 top officers across eight
industries worldwide approach MarketsandMarkets™ for their painpoints around
revenues decisions.
Contact:
Mr. Shelly Singh
MarketsandMarkets™ INC.
630 Dundee Road
Suite 430
Northbrook, IL 60062
USA : 1-888-600-6441
newsletter@marketsandmarkets.com
Mr. Shelly Singh
MarketsandMarkets™ INC.
630 Dundee Road
Suite 430
Northbrook, IL 60062
USA : 1-888-600-6441
newsletter@marketsandmarkets.com
No comments:
Post a Comment