The global terminal automation market in the oil and gas industry to grow at a CAGR of 6.72% during the period 2017-2021.

Global Terminal Automation Market in the Oil and Gas Industry 2017-2021, has been prepared based on an in-depth market analysis with inputs from industry experts. The report also includes a discussion of the Key vendors operating in this market. To calculate the market size, the report considers new installations, value, and aftermarket services market.

Terminal automation is a system that eases the product handling at the terminal and enables integration of these operations with the business software. It is used to measure, control, automate, and report all the exchanges and transfers. It offers complete management from receipt of the product to inventory control to dispatch recording. Terminal automation systems are deployed in various applications in the oil and gas terminals. Oil terminals include truck and pipeline terminals, whereas gas terminals include liquefaction liquid natural gas (LNG) and regasification LNG terminals.

One trend in the market is emergence of IoT and cloud integration. IoT is the next generation technology for all the applications due to its superior advantages in connectivity.

According to the report, one driver in the market is global expansion in oil terminals. Oil terminals are required to store the crude oil and petroleum products. The tank terminal industry is one of the spurring industries since last decade. The oil terminal owners made profits owing to the increased trade of oil and gas and increasing demand for storing the product in the high oil and gas prices scenario.

However, in low oil prices scenario, the industry is propelled by the trading and marketing activities by the countries. With low crude oil prices, oil and gas supply chain market structure is contango (a situation in which future value of the commodity is higher compared to spot pricing).

Further, the report states that one challenge in the market is huge capital investment and business downtime. Terminal automation provides several benefits ranging from increased operational efficiency to lowering the manual interference.

Key vendors

Other prominent vendors

Key Topics Covered:

Part 01:Executive summary

Part 02: Scope of the report

Part 03: Research Methodology

Part 04: Introduction

Part 05: Market landscape

Part 06: Market segmentation by product

Part 07: Market segmentation by application

Part 08: Geographical segmentation

Part 09: Decision framework

Part 10: Drivers and challenges

Part 11: Market trends

Part 12: Vendor landscape

Part 13: Key vendor analysis

Part 14: Appendix

For more information about this report visit https://www.researchandmarkets.com/research/ccf8nt/global_terminal

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Original post:

Global Terminal Automation Market in the Oil and Gas Industry 2017-2021 - Key Vendors are ABB, Emerson, Implico ... - PR Newswire (press release)