How Is The Global Terminal Automation Market defined?
Terminal automation refers to the integration of advanced technologies and systems to enhance the efficiency and safety of terminal operations. The primary goals of terminal automation are to improve operational efficiency, reduce labor costs, enhance safety, and ensure faster and more reliable throughput of goods or passengers.
Terminal Automation Global Market Report 2024 provides data on the global terminal automation market such as market size, growth forecasts, segments and geographies, competitive landscape including leading competitors’ revenues, profiles and market shares. The terminal automation market report identifies opportunities and strategies based on market trends and leading competitors’ approaches.
How Are The Global Terminal Automation Market Size And Growth Rates Projected To Evolve?
The terminal automation market has seen strong growth, expanding from $7 billion in 2023 to $7.5 billion in 2024 at a CAGR of 7.1%. Growth factors include demand for operational efficiency, regulatory pressures for environmental sustainability, and the rise of autonomous vehicles. By 2028, the market is expected to reach $9.91 billion at a CAGR of 7.2%, supported by smart infrastructure investments, global trade expansion, and safety improvements. Emerging trends include IoT and cloud-based solutions, AI for predictive maintenance, robotics in cargo handling, and digital transformation in logistics.
What Are The Essential Drivers Behind The Growth Of The Terminal Automation Market?
The increase in oil and gas production is expected to drive the growth of the terminal automation market. The rise in production is being fueled by advances in drilling technologies, increased offshore drilling, and growing energy demands. Terminal automation systems enhance safety, efficiency, and regulatory compliance by automating the loading, storage, and distribution processes in the oil and gas sector. According to the Department For Energy Security and Net Zero, gas production in the UK increased by 16% in 2022, reaching 423 TWH. As oil and gas production rises, terminal automation will play a larger role in the industry's growth.
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How Is The Global Terminal Automation Market Divided Into Key Segments?
The terminal automation market covered in this report is segmented –
1) By Offering: Hardware, Software And Services
2) By Project Type: Brownfield Projects, Greenfield Projects
3) By End User: Oil And Gas, Chemical, Other End Users
What Trends Are Reshaping The Future Of The Terminal Automation Market?
In the terminal automation sector, companies are developing cloud-based terminal operating systems (TOS) to enhance operational flexibility and scalability. These systems are software solutions hosted on cloud infrastructure that allow terminal operators to manage and optimize operations remotely via internet-enabled devices. For example, in April 2021, DP World, a UAE-based logistics company, implemented its CARGOES TOS+ (Zodiac) solution at the Commercial Port of Luanda in Angola. This cloud-based system integrates all IT and operational systems into a single platform, providing real-time information on vessel, gate, and yard movements while automating previously manual processes.
What Is The Fastest Growing Region In The Terminal Automation Market?
North America was the largest region in the terminal automation market in 2023. Asia Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the terminal automation market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
