DUBLIN--(BUSINESS WIRE)--The "Automated Container Terminal - Global Market Outlook (2017-2026)" report has been added to ResearchAndMarkets.com's offering.
The Global automated container terminal market accounted for $8.74 billion in 2017 and is expected to reach $13.08 billion by 2026 growing at a CAGR of 4.6%.
Growing demand for large container ships, rising competition among container terminals and increasing labor cost in developed countries are some of the factors fueling the market growth. Moreover, integration of IOT in terminal automation provides huge opportunity for the market.
However, high initial cost for the implementation of automated container terminals and lack of support from trade unions are some of the factor restricting the market growth.
On the basics of degree of automation, semi-automated terminals segment accounted for the largest market share in the global market. As the investment required for building a semi-automated terminal is small and the performance of semi-automated terminals is increasing more quickly compare to the fully-automated terminals.
By geography, Asia Pacific held largest market share during the forecast period. The terminal operators in Asia Pacific are switching to fully automated and semi-automated container terminals from traditional container terminals owing to various reasons. The primary motivation lies in terms of time and cost savings for the period of loading and unloading of containers.
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