Terminal Automation Market Analysis, Share, Drivers, Growth 2024-2033

Global terminal automation market size is expected to reach $9.91 billion by 2028 at a rate of 7.2%, segmented as by offering, hardware, software and services

Sep 5, 2024 - 19:28

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Terminal Automation Market Analysis, Share, Drivers, Growth 2024-2033

The Terminal Automation Global Market Report 2024 by The Business Research Company provides market overview across 60+ geographies in the seven regions - Asia-Pacific, Western Europe, Eastern Europe, North America, South America, the Middle East, and Africa, encompassing 27 major global industries. The report presents a comprehensive analysis over a ten-year historic period (2010-2021) and extends its insights into a ten-year forecast period (2023-2033).

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According to The Business Research Company’s Terminal Automation Global Market Report 2024, The terminal automation market size is expected to see strong growth in the next few years. It will grow to $9.91 billion in 2028 at a compound annual growth rate (CAGR) of 7.2%. The growth in the forecast period can be attributed to increasing operational efficiency and safety improvements, rising demand for environmentally sustainable solutions, increasing regulatory mandates promoting automation in logistics and transportation, expanding global trade necessitating advanced handling capacities, and growing investments in smart infrastructure development. Major trends in the forecast period include rising adoption of IoT and cloud-based solutions for real-time monitoring, integration of artificial intelligence and machine learning for predictive maintenance and optimization, expansion of automated equipment and robotics in cargo handling, and advancements in promoting digitalization and automation in logistics and transportation sector.

The increase in oil and gas production is expected to propel the growth of the terminal automation market going forward. The rise in oil and gas production is surrounded by advance drilling technologies, increased offshore drilling, demand for energy, and efforts to boost supply. Terminal automation in the oil and gas industry optimizes loading, storage, and distribution operations through automated systems, enhancing safety, efficiency, and compliance with regulatory standards. For instance, in July 2023, according to the Department For Energy Security and Net Zero, a UK-based government department, gas production increased by 16% in 2022, reaching 423 TWH, after experiencing a record low in 2021. Therefore, the increase in the production of oil and gas is driving the growth of the terminal automation market.

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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

Major companies operating in the terminal automation market are developing cloud-based terminal operating systems (TOS) to gain operational flexibility and scalability. Cloud-based terminal operating systems (TOS) are software solutions hosted and operated from cloud infrastructure. These systems enable terminal operators to manage and optimize terminal operations through internet-enabled devices remotely. For instance, in April 2021, DP World, a UAE-based logistics company, announced the successful implementation of its CARGOES TOS+ (Zodiac) solution, a cloud-based terminal operating system (TOS), at the Commercial Port of Luanda in Angola. CARGOES TOS+ is an integrated platform encompassing all IT and operational systems under one system, providing real-time information on vessel, gate, and yard movements and automating previously manual processes.

The terminal automation market report table of contents includes: