Terminal Automation Market Boosted by Recent Upgrade of Greenfield Terminal Infrastructure
The Terminal Automation Market
deals with the automation systems which are utilized for enhanced safety of various types of terminals. A terminal provides facilities for storing products like oil, gas and chemicals. It refers to both storage and distribution centers. Terminal automation systems are the combination of hardware and software.
Prior to transportation to its desired destinations, oil and chemicals are to be stored in the terminals for safety. Terminal automation system aids in coordination of operations, such as receipt, storage and distribution of products, prevention of fraud, raising alarms for disturbing events and ensuring overall safety of the terminal among others. Terminal automation systems require relatively less real-time process control and can offer superior transactional capabilities.
The higher level of safety and security provided by these systems are attributing the growth for the Terminal Automation Market. Growth in oil and gas refineries are creating new opportunities for the market. Recent Inclination of government for environmental concerns has amplified the market growth.
However, relatively higher costs associated with implementation of automation systems is expected to act as a barrier to this market growth, during the forecast period. Besides, Cyber threats and concerns associated regarding data security are likely to hamper growth in adoption of such automation systems, especially among small terminal operators. Still, rising need of quality transportation of crude oil products had enhanced the market growth.
America is driving high growth for the Terminal Automation Market sue to technological advancements in this region. Whereas, Asia-Pacific is expected to register significant growth during the forecast period, except Japan. Also, moderate growth has been observed in the developing nations such as India and China. Europe is projected to witness positive growth due to growing automation, over the forecast period.
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