The terminal management system market has experienced substantial growth in recent years, with the market size expected to increase from $1.12 billion in 2023 to $1.21 billion in 2024, reflecting a compound annual growth rate (CAGR) of 8%. This historic growth is driven by factors such as the expansion of container shipping, heightened environmental awareness, economic downturns pushing companies to optimize operations, the maritime industry's expansion, and modernization of rail networks. Looking forward, the market is projected to reach $1.65 billion by 2028, with a CAGR of 8.1%. The anticipated growth is attributed to the rising need for optimizing terminal operations, a growing focus on energy-efficient operations, strict safety and security regulations, increasing customer demand for transparency, and the implementation of green logistics initiatives. Major trends during the forecast period include enhanced security solutions, advancements in cybersecurity, the adoption of blockchain technology, digital twin technology, and remote terminal management and monitoring solutions.
Global Terminal Management System Market Key Driver
The expansion of the oil and gas industry is set to boost the growth of the terminal management system market. This sector is growing due to rising global energy demand, advancements in extraction technologies, and significant investments in exploration and infrastructure. Terminal management systems (TMS) play a crucial role by streamlining receipt and dispatch operations, improving inventory management, and ensuring safety compliance. In December 2023, the US Energy Information Administration reported that US oil production had increased 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 rising from 120.0 billion cubic feet daily to 121.1 billion cubic feet. This expansion in the oil and gas industry is driving the growth of the terminal management system market.
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Global Terminal Management System Market Segments
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.
Major Terminal Management System Industry Players
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
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Terminal Management System Market Overview
Terminal management system (TMS) refers to a specialized software solution designed to manage and optimize the operations of terminal facilities, including ports, airports, and distribution centers. It enhances efficiency in these crucial hubs by overseeing activities such as loading, unloading, and transshipping goods and products. The terminal management system integrates essential functions such as logistics, resource management, and security, thereby improving operational efficiency and reliability across terminal operations.
Terminal Management System Global Market Report 2023 provides data on the global terminal management system market such as market size, growth forecasts, segments and geographies, competitive landscape including leading competitors’ revenues, profiles and market shares. The terminal management system market report identifies opportunities and strategies based on market trends and leading competitors’ approaches.
