The global terminal management system market is a very dynamic market and is expected to witness stable growth over the forecast period. The growth of the terminal management system market is influenced by the growing demand for security solutions, growing demand for installation of automation solutions and increasing need for providing various training and maintenance services.
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.
The factors contributing to the growth of the Terminal Management System Market are growing implementation of terminal management solutions in brownfield projects, low operational cost, increasing awareness about security solutions and the increasing awareness about installing automation solutions.
Also, the system manages critical issues faced in bulk terminals such as complexity in handling multiple products and regulatory requirements while improving safety and productivity. The benefits of implementing these solutions reduces the risk of loading incorrect quality of product, the solutions are also used to configurable and improves terminal efficiency among others.
Geographically, North-America accounted for the largest market share in the global terminal management system market, whereas Asia-Pacific is expected to grow at a fast pace over the forecast period, 2017-2023.
Major Key Players:
- Honeywell International, Inc. (US)
- Electric Corporation (Japan)
- ABB Ltd. (Switzerland)
- Siemens AG (Germany),
- Rockwell Automation, Inc. (US)
- Yokogawa Electric Corporation (Japan)
- Schneider Electric (France)
- Implico GmbH (Germany)
- Emerson Electric Corporation (US)
- Endress+Hauser Management AG (Switzerland)
- General Atomics Corp. (California)
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Terminal Management System Market:
According to Market Research Future, market has been segmented into component, project type, vertical and region.
On the basis of project type, the market has been segmented into green field and brownfield. Out of these project type, brownfield accounted for the largest market share. The reason is attributed to operational efficiency, increasing awareness regarding automation and increasing demand for training and maintenance services.
Market Research Future Analysis
The global terminal management system market is expected to grow significantly over the forecast period, 2017-2023. Oil & Gas segment of terminal management system market globally drives the market majorly due to increasing demand for innovative technologies. The market is expected to have higher growth rate as compared to the previous years.
Asia-Pacific region expected to grow at a fast pace over the forecast period, 2017-2023. Countries such as India, Malaysia and Philippines contributes largely to the overall growth of the market, majorly due to the number of automation projects in this region. For instance, Yokogawa Electric Corporation (Japan) signed a contract with Bharat Petroleum Corporation Limited (India) in 2015 for better automation of truck loading terminals. Hence, a terminal automation system was provided by both the companies.
North-America accounted for the largest market share majorly due to increasing number of green field projects in this region and increasing demand for flexible field device connectivity among others
For the purpose of this study, Market Research Future has segmented the market of terminal management into component, project type, vertical and region.
- Oil & Gas
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Regionally, North-America accounted for the largest market share, owing to increased need for new technological solutions, increasing competition among developers, increasing consumer awareness for security solutions and increasing number of brownfield projects.
However, Asia-Pacific region is expected to grow with a highest CAGR over the forecast period, 2017-2023. The reason is attributed to the increasing need for operational efficiency and the integrated safety and better security solutions will enhance the terminal automation. Countries such as India, Malaysia and Philippines contributes largely to the overall market share.
- Device manufacturers
- Network Operators
- Research firms
- Software Developers
- Commercial Banks
- Semiconductor Manufacturers
- End-user sectors
- Technology Investors
Table of Contents
1 Market Introduction
1.2 Scope of Study
1.2.1 Research Objective
1.3 Market Structure
List of Tables
Table 1 Terminal Management System Market, By Component
Table 2 Terminal Management System Market, By Project Type
List of Figures
Figure 1 Research Methodology
Figure 2 Terminal Management System Market, By Component (%)
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