Oil And Gas Terminal Automation Market To Surpass Us$ 4 Billion By 2020 | Automation.com

Oil And Gas Terminal Automation Market To Surpass Us$ 4 Billion By 2020

December 012015

According to the report, automation in the oil and gas sector is growing at an annual growth rate of over 7%, and by 2020, global revenues will surpass US$ 4 billion. According to the report, key players in the oil and gas sector are adopting automation, owing to its numerous benefits, including increases responsiveness and productivity, empowered workforce, real-time database management system, optimized safety & security and centralized control. On the other hand, high cost of automation devices, combined with lack of trained personnel are posing challenges to adoption.

On the basis of technology, the report offers market forecast till 2020 on product safety system, distributed control system, blending control and safety, tank gauging system, supervisory control and data acquisition, and human-machine interface.

The report also offers market forecast on the basis of transportation (truck and pipeline) and region (North America, Western Europe, Eastern Europe, Latin America, Asia Pacific, and Middle East and Africa).

The key players covered in the report include ABB Ltd. (Switzerland), Wipro Ltd.(India), Schneider Electric (U.K.) Cimation (US), Yokogawa (Japan), Siemens AG (Germany) Rockwell Automation Inc. (US), Gulftronics (US), Larsen & Toubro(India), General Electric (US), and Honeywell Process Solutions (US).
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