The terminal management system (TMS) market is growing rapidly. Rising activities to carry out all data management tasks required during terminal operations and manage all operational and commercial activity at a terminal drive the market growth. TMSs are quite helpful in brownfield projects in which modification and up-gradation of systems become integral.
With increasingly evolving technologies, Brownfield projects are increasing too, which defines the growing TMS market landscape. According to Market Research Future (MRFR), the global terminal management system market is expected to create a significant revenue pocket by 2027, growing at an impressive CAGR during the forecast period (2020-2027).
Digital transformation, burgeoning O&G sectors worldwide, and the emergence of a wide variety of new terminal types & forms that do not lend themselves to relational representation boost the terminal management system market for oil & gas.
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Global Terminal Management System Market - Segments
The report is segmented into components, project types, verticals, and regions. The component segment is sub-segmented into hardware and software. The project type segment is sub-segmented into Greenfield and brownfield. The vertical segment is sub-segmented into oil & gas, chemicals and others. The region segment is sub-segmented into North America, Europe, APAC, and Rest-of-the-World.
Terminal Management System Market Regional Analysis
North America dominates the global terminal management system market. Factors such as the presence of major technology providers and the growing IT industry drive the market growth. Besides, high deployments of cloud computing by middle and large enterprises boost the region's terminal management system industry.
With their increasing number of brownfield projects, the US and Canada account for large shares in the regional market. Also, augmented demand for advanced TMS solutions and increasing consumer awareness for security solutions, alongside increasing competition among developers, substantiate the market growth.
Europe demonstrates steady growth in the global terminal management system market. High growth of the financial and healthcare sector leads to the high adoption of on-premises and on-cloud Terminal infrastructure.
Asia Pacific is also a lucrative market for terminal management systems, mushrooming rapidly. Growing manufacturing and BFSI sectors in China and India are key driving forces behind the regional market growth.
Also, players in China and Japan are investing heavily in developing efficient management systems, which in turn, boost the market growth in the region. The increasing need for operational efficiency and integrated safety influences market growth, witnessing enhancement in terminal automation.
Terminal Management System Market - Competitive Analysis
Highly competitive, the TMS market appears fragmented with the presence of several well-established players. To gain a sizable competitive share, industry players incorporate strategic initiatives such as mergers & acquisitions, collaboration, expansion, and product/technology launch. Substantial investments are transpired in R&D to develop a completely different technology compared to their competition.
Major Players:
Players leading the TMS market include ABB Ltd. (Switzerland), Honeywell International, Inc. (US), Siemens AG (Germany), Rockwell Automation, Inc. (US), Yokogawa Electric Corporation (Japan), Schneider Electric (France), Emerson Electric Corporation (US), Implico GmbH (Germany), Endress+Hauser Management AG (Switzerland), and General Atomics Corp., among others.
Industry News:
May 31, 2021 – Zodiac Terminal Operation System announced that Aden Ports Development Company (APDC) has deployed its Terminal Operation System (TOS) at their Aden Container Terminal in Yemen, bringing the cutting-edge technology into full-fledged applications at the terminal.
Zodiac software has been deployed in Aden Container Terminal for several years, fostering Yemen's global trade while enabling efficient port and terminal operations. Zodiac's solutions are the most advanced and user-friendly systems on the market for ports and terminal management.
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The enhancement of the terminal's operations would ensure a smooth migration as even during the Covid-19 pandemic, Zodiac continued to provide its customers with complete support in accessing global supply chains with high efficiency and capacity.