HOME Research Insight ABB Ltd. (Switzerland) and Siemens AG (Germany) are the Top 2 Players in the Terminal Management System Market



ABB Ltd. (Switzerland) and Siemens AG (Germany) are the Top 2 Players in the Terminal Management System Market


The terminal management system market is driven by factors such as integrated safety and security solutions to help enhance the level of automation at a terminal.

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. Companies are adopting cloud technologies for enhanced efficiency in field-based verticals such as oil and gas, petrochemicals, and chemicals.

There is increasing investment in APAC in liquefied natural gas projects. In India, demand for terminal automation is growing on the back of government initiatives, such as “Make in India”, and an increase in the number of petrochemicals projects. The rapidly growing population of South Africa, along with the current rate of urbanization, is a key factor contributing toward the growth of the economy and the need for automation in Africa. Companies such as Sasol Chemical Industries Limited (South Africa) and Sonatrach Spa (Algeria) are investing in this market, and are, in turn, driving the growth of the terminal management system market in Africa.

The major opportunity for this market is the growing demand for cloud computing, which enables real- time reporting. A few 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), and Schneider Electric (France). 

Top 2 players in the terminal management system market:

ABB Ltd. focuses on inorganic strategies to maintain its position in the market. For instance, in February 2017, ABB Ltd. (Switzerland) signed an agreement for the safety and automation system with Statoil ASA (Norway) for new offshore oil field development in Norway. This agreement with Statoil ASA will enable ABB Ltd. to develop standard design solutions using the 800xA safety and automation system.

Siemens AG focuses on organic strategies, such as launches. For instance, in February 2016, Siemens AG (Germany) launched energy self-sufficient remote terminal units (RTUs) for water and wastewater, agriculture, and other industries to fulfil the demand for wide area data monitoring and control. The company extended its range of remote terminal units (RTUs) to include Simatic RTU3030C.

Siemens AG also focuses on inorganic strategies, such as agreements. For instance, in March 2016, Siemens AG (Germany) signed an agreement with Rosneft (Russia) to study opportunities for cooperation in the development of technical solutions and manufacturing allocation of equipment for fuel and energy verticals. These verticals plan to cooperate in the area of development and application of energy-efficient technologies, such as heat recovery systems, variable speed drives, and modernized power networks (Smart Grid systems), for oil fields and refineries, as well as compressors for onshore and offshore fields.

Stakeholders involved in the value chain of this industry include raw material and equipment suppliers, terminal operators, automation providers, control system manufacturers, transportation providers, government agencies, research organizations, and investor communities.

Related Reports:

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

Contact:
Mr. Rohan
MarketsandMarkets™ INC. 
630 Dundee Road 
Suite 430 
Northbrook, IL 60062 
USA : 1-888-600-6441 
sales@marketsandmarkets.com

Connect Us

Follow us on LinkedIn  Follow us on Facebook   Follow us on Twitter 
Live Chat Support


US : 1-888-600-6441

Search reports