Terminal Management System - Global Market Outlook (2019-2027)
According to Stratistics MRC, the Global Terminal Management System market is accounted for $911.38 million in 2019 and is expected to reach $1,674.45 million by 2027 growing at a CAGR of 7.9% during the forecast period. Some of the key factors propelling the market growth include increasing needs for safety and environmental norms in various verticals, growing implementation of terminal management solutions in brownfield projects, low operational cost, increasing awareness about security solutions, and increasing awareness about installing automation solutions. However, fluctuation in crude oil prices impacts the installation of terminal management software in oil & gas industry hampering the market growth.
Terminal management system is a combination of hardware & software elements which helps to carry out all data management task which are required to perform while loading terminal. The components are developed and tested to manage and control a system. According to CGI, terminal management system can be explained as an innovative solution which chains the main business functions involved in bulk terminal management.
By project type, the brownfield projects segment is expected to grow at a significant rate during the forecast period. The growing demand for automating existing terminals by integrating software will increase the overall productivity, and help conserve both time and energy. Traditional terminal infrastructure such as pipeline connections, tanker berths, and other components is already present, and therefore the automation of such existing terminals by integrating software will help increase the number of brownfield projects.
On the basis of geography, the terminal management system market in APAC is expected to have considerable growth during the forecast period, owing to the rise in the number of terminal automation projects in countries such as India, Malaysia, and the Philippines. For instance, the governments of China and Japan are focusing on innovation and growth, and are taking steps to restructure the market.
Some of the key players in Terminal Management System market include ABB Ltd., Agidens International Nv, Emerson Electric Co., Endress+Hauser Management Ag, General Atomics Corp., Honeywell International Inc., Implico Group, Koninklijke Vopak N.V., Offspring International Limited , Rockwell Automation, Inc., Schneider Electric, Siemens Ag, Toptech Systems, Inc., Triple Point Technology, Inc. , Yokogawa Electric Corporation, AC2, Inc., Marabu GmbH & Co. KG, Tema Business Systems, Motorola Solutions, Inc., and Dearman Systems, Inc.
Project Types Covered:
• Greenfield Projects
• Brownfield Projects
End Users Covered:
• Oil & Gas
• Aviation Industry
• Renewable Sector
• Other End Users
• Receipt / Dispatch By Truck
• Automatic Bay / Berth Allocation
• Rail Wagon
• Kiosk Functionality
• Access Control
• Automatic Tank Farm Control
• Manufacturer/Distributor/Service Provider
• North America
o Rest of Europe
• Asia Pacific
o New Zealand
o Rest of Asia Pacific
• South America
o Rest of South America
• Middle East & Africa
o Saudi Arabia
o South Africa
o Rest of Middle East & Africa
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