Dublin, Nov. 07, 2024 (GLOBE NEWSWIRE) — The “Terminal Management System Market Report 2024” report has been added to ResearchAndMarkets.com’s offering.
This Terminal Management System market report covers industry characteristics, size and growth, segmentation, regional and country breakdowns, competitive landscape, market shares, trends and strategies for this market. It traces the market’s historic and forecast market growth by geography.
The terminal management system market size has grown strongly in recent years. It will grow from $1.12 billion in 2023 to $1.21 billion in 2024 at a compound annual growth rate (CAGR) of 8%. The growth observed in the past can be attributed to the expansion of container shipping, heightened environmental consciousness, economic downturns prompting operational efficiencies among companies, the expansion of the maritime sector, and advancements in rail networks.
The terminal management system market size is expected to see strong growth in the next few years. It will grow to $1.65 billion in 2028 at a compound annual growth rate (CAGR) of 8.1%. Anticipated growth in the upcoming period is linked to the increasing emphasis on optimizing terminal operations, a growing focus on energy-efficient practices, stringent safety and security regulations, rising customer expectations for transparency, and the adoption of environmentally-friendly logistics initiatives. Key trends expected in this period include enhanced security solutions, cybersecurity measures, adoption of blockchain and digital twin technologies, and the implementation of remote terminal management and monitoring solutions.
The terminal management system market is poised for growth, driven by the expanding oil and gas industry. This growth is fueled by increasing global energy demand, advancements in extraction and production technologies, and significant investments in exploration and infrastructure. For instance, according to the US Energy Information Administration, US oil production rose from 11.7 million barrels per day (b/d) in December 2021 to 12.1 million b/d by December 2022, with natural gas production increasing from 120 billion cubic feet daily to 121.1 billion cubic feet per day. Consequently, the expansion of the oil and gas sector is a key driver behind the growth of the terminal management system market.
Leading companies in this market are focusing on developing pre-configured versions of terminal management solutions to expedite implementation, reduce costs, and ensure rapid deployment, all while maintaining flexibility and scalability to meet specific client requirements. For instance, Implico Group introduced OpenTAS Go in September 2022, a ready-to-implement version of their terminal management solution designed to support tank terminals of varying sizes. It features a comprehensive cloud ecosystem with standardized microservices for data and process management, supervision, KPI reporting, and API-based integration, ensuring ease of maintenance and operational efficiency.
North America was the largest region in the terminal management system market in 2023. The regions covered in the terminal management system market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa. The countries covered in the terminal management system market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Canada, Italy, Spain.
Scope
Markets Covered:
1) By Offering: Hardware; Software and Services
2) By Project: Greenfield; Brownfield
3) By Application: Receipt or Dispatch by Truck; Rail Wagon; Pipeline; Access Control; Inspections; Kiosk Functionality; Automatic Bay or Berth Allocation; Sealing; Blending; Other Applications
4) By Vertical: Railway; Renewable Sector; Aviation Industry; Chemicals; Oil and Gas; Other Verticals
Key Companies Mentioned: Siemens AG; Schneider Electric SE; Honeywell International Inc.; ABB Ltd.; DP World Limited
Time Series: Five years historic and ten years forecast.
Data: Ratios of market size and growth to related markets, GDP proportions, expenditure per capita.
Data Segmentation: Country and regional historic and forecast data, market share of competitors, market segments.
Key Attributes
| Report Attribute | Details |
| No. of Pages | 175 |
| Forecast Period | 2024-2028 |
| Estimated Market Value (USD) in 2024 | $1.21 Billion |
| Forecasted Market Value (USD) by 2028 | $1.65 Billion |
| Compound Annual Growth Rate | 8.1% |
| Regions Covered | Global |
Some of the other major terminal management system companies profiled in this report include:
- Emerson Electric Co.
- Rockwell Automation Inc.
- Terex Corporation
- Cargotec Oyj
- Konecranes Oyj
- Yokogawa Electric Corporation
- Endress+Hauser Group Services AG
- Hutchison Port Holdings Limited
- INFORM GmbH
- Marsa Maroc SA
- Navis Holdings LLC
- Moffatt & Nichol Inc.
- RightShip Pty. Ltd.
- Cyberlogitec Co. Ltd.
- Tideworks Technology Inc.
For more information about this report visit https://www.researchandmarkets.com/r/4apsec
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- Terminal Management System Market
