Terminal Management System Market: Competitor Analysis and Market Overview Insights 2024-2033

Global terminal management system market size is expected to reach $1.65 billion by 2028 at a rate of 8.1%, segmented as by offering, hardware, software and services

Sep 5, 2024 - 20:12

Terminal Management System Market: Competitor Analysis and Market Overview Insights 2024-2033

The Terminal Management System 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 Management System Global Market Report 2024, The terminal management system market size is expected to see strong growth in the next few years. It will grow to $1.65 billion in 2028 at a compound annual growth rate (CAGR) of 8.1%. The growth in the forecast period can be attributed to the increasing need for optimizing terminal operations, increasing focus on energy-efficient operations, implementation of strict safety and security regulations, customer demand for transparency, and implementation of green logistics initiatives. Major trends in the forecast period include enhance security solutions, cybersecurity solutions, adoption of blockchain technology, adoption of digital twin technology, and remote terminal management and monitoring solutions.

The expanding oil and gas industry is expected to propel the growth of the terminal management system market going forward. The expanding oil and gas industry is due to increasing global energy demand, advancements in extraction and production technologies, and significant investments in exploration and infrastructure. A terminal management system (TMS) helps the oil and gas industry by streamlining receipt and dispatch operations, enhancing inventory management, improving resource allocation, ensuring safety compliance, and facilitating real-time tracking and blending processes. For instance, in December 2023, according to the US Energy Information Administration, a US-based government administration, in December 2021, the US oil output was 11.7 million barrels per day (b/d), while natural gas production (gross withdrawals) was 120.0 billion cubic feet daily. By December 2022, oil production had increased to 12.1 million barrels per day, while natural gas production had risen to 121.1 billion cubic feet per day. Therefore, the expanding oil and gas industry is driving the growth of the terminal management system market.

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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

Major companies operating in the terminal management system market are developing pre-configured versions of terminal management solutions to reduce implementation time, lower costs, and ensure faster deployment while maintaining flexibility and scalability to meet specific client needs. Pre-configured versions of terminal management solutions refer to ready-made, standardized software packages designed to handle everyday terminal operations with minimal customization. For instance, in September 2022, Implico Group, a Germany-based software company, launched OpenTAS Go, a pre-configured version of Implico's terminal management solution. It is designed to provide a quick-to-implement and easy-to-maintain system for tank terminals of all types and sizes. It offers a comprehensive cloud ecosystem with standardized microservices for data and process management, supervision, KPI reporting, and API-based integration.

The terminal management system market report table of contents includes: