The global terminal management system market is expected to surpass USD 926.1 million in 2023, with projections reaching USD 1,390.0 million by 2033. The market is anticipated to grow at a CAGR of 4.1% from 2023 to 2033.
The significant rise in containerization has made containers the primary mode of freight transportation in the global shipping industry. Terminal management systems are crucial for effectively managing containerized freight, controlling container movements, tracking inventories, and optimizing stacking and retrieval processes. This increase in containerization is driving the growth of the terminal management systems market.
For successful logistics management, supply chain visibility is essential. Terminal management systems provide real-time tracking and monitoring capabilities that give terminal managers and stakeholders complete visibility into the movement of cargo and containers throughout the facility. As operational efficiency and customer satisfaction become more critical in supply chain visibility, the demand for terminal management systems is on the rise.
Terminal operators are continuously seeking ways to enhance productivity, throughput, and overall facility performance while minimizing costs and risks. Terminal management systems offer features such as predictive maintenance, optimization algorithms, performance analytics, and real-time reporting to help operators make informed decisions and streamline their operations. As terminal operators increasingly prioritize efficiency and profitability, the demand for these technologies continues to grow.
Key Takeaways:
- The global terminal management system industry developed at a CAGR of 5.1% from 2018 to 2022.
- In 2018, the global market size stood at US$ 719.0 million.
- The global market size stood at US$ 876.0 million in 2022.
- The services segment is projected to thrive at a CAGR of 4.0% from 2023 to 2033.
- The oil & gas segment is estimated to expand at a 3.9% CAGR from 2023 to 2033.
- The market in China for terminal management systems is predicted to flourish at a 5.1% CAGR from 2023 to 2033.
- The South Korea market for terminal management systems is projected to thrive at a 4.5% CAGR from 2023 to 2033.
- The United States market for terminal management systems is anticipated to expand at a 3.0% CAGR from 2023 to 2033.
Competitive Landscape
The competitive landscape of the terminal management system industry is characterized by the presence of substantial, well-established players and a multitude of emerging start-up ventures. In this fiercely contested arena, both international and local suppliers vigorously compete for market dominance, resulting in a relatively fragmented marketplace.
Key players
- ABB Ltd.
- Agidens International NV
- Emersion Electric Co.
- Endress+Hauser AG
- General Atomics
- Honeywell International, Inc.
- Implico Group
- Koninklijke Vopak N.V.
- Offspring International Limited
Terminal Management System Market Segmentation:
By Offering:
- Software
- Services
- Professional Services
- Managed Services
By Vertical:
- Oil & Gas
- Upstream
- Downstream
- Midstream
- Chemical
- Petrochemical
- Others
- Others
By Type:
- Brownfield Projects
- Greenfield Projects
By Region:
- North America
- Latin America
- Europe
- Asia Pacific
- The Middle East & Africa (MEA)
Report Preview: https://www.futuremarketinsights.com/reports/terminal-management-system-market
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