The terminal management system market has seen substantial growth, increasing from $1.12 billion in 2023 to $1.21 billion in 2024, reflecting a CAGR of 8%. This growth is attributed to the expansion of container shipping, heightened environmental awareness, and modernization of rail networks. The market is expected to reach $1.65 billion by 2028, with a CAGR of 8.1%, driven by the need to optimize terminal operations, a focus on energy efficiency, and the implementation of green logistics initiatives.
Major Driver In The Terminal Management System Market
The terminal management system market is anticipated to grow in tandem with the oil and gas industry’s expansion. Rising global energy demand, advancements in extraction technologies, and significant investments in exploration and infrastructure are key drivers. Terminal management systems streamline operations, improve inventory management, and ensure safety compliance. The US Energy Information Administration reported a rise in US oil production 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 also increasing, the terminal management system market is expected to grow from $2.9 billion in 2023 to $3.7 billion in 2024, reaching $4.8 billion by 2028.
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Terminal Management System Market Competitive Landscape
Siemens AG, Schneider Electric SE, Honeywell International Inc., ABB Ltd., DP World Limited, 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., Girmiti Software Private Limited, Identec Solutions AG, Implico Group, Total Soft Bank Ltd., Softship AG, Jade Logistics Private Limited
Key Terminal Management System Market Trend
In the terminal management system market, companies are creating pre-configured terminal management solutions to expedite deployment, reduce costs, and ensure flexibility and scalability. These ready-made software packages are designed to streamline terminal operations with minimal customization. For example, in September 2022, Implico Group, a Germany-based software provider, launched OpenTAS Go. This pre-configured solution offers a cloud ecosystem with standardized microservices for data and process management, supervision, KPI reporting, and API-based integration, facilitating a swift and efficient implementation for tank terminals.
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Terminal Management System Market Segmentation
The terminal management system market covered in this report is segmented –
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
By Geography:The regions 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.
North America was the largest region in the terminal management system market in 2023.
The Terminal Management System Global Market Report 2024 furnishes information about the global terminal management system market, encompassing details like market size, projections for growth, segmentation across various sectors and regions, and an overview of competitors, including their revenues, profiles, and market shares. Furthermore, the report pinpoints potential opportunities and strategic directions derived from market trends and the strategies adopted by key competitors. The report also offers an assessment of how the COVID-19 pandemic, the Russia-Ukraine conflict, and increasing inflation have affected both global and regional markets, furnishing valuable strategic insights for businesses.
