Global Terminal Management System Market was valued US$ XX Mn in 2019 and is expected to grow US$ XX Mn by 2027, at a CAGR of XX% during the forecast period.
global terminal mgt market
Market Overview:
The terminal management system is used to manage the distribution of the product including gas, chemicals, oil, alcohols and renewable fuels. The operational terminal management system includes some activities, like terminal automation for process controls and business administration which helps to smoothen the enterprise activities. This system offers detection, control, and management of the whole product handling process including from receiving material to storage & distribution. The data integration solution contains auto control and business management activities which help to decrease overall procedure cost and ultimately improve efficiency, productivity, and safety. Nowadays, operators are looking for centralized and integrated terminal management solutions which can able to control several sites. The mobility, cloud, industrial internet of things (IoT), cybersecurity, safety, and analytics becomes essential for customers.The report study has analyzed revenue impact of covid-19 pandemic on the sales revenue of market leaders, market followers and disrupters in the report and same is reflected in our analysis.
Market Dynamics:
The interactive terminal management system market for oil & gas is undergoing an important change, as some of the burgeoning sectors, like oil and gas, go through the digital transformation, embracing, and leveraging of a wide variety of new terminal types and forms that do not lend themselves to relational representation, and as they move to the cloud.
Increasing application areas and high adoption of cloud computing are playing a vigorous role in the growth of the terminal management system market. With the rising size of the digital content global, the need for terminal centers and cloud computing is expected to rise subsequently. Supplementary factors substantiating market growth include the rising implementation of terminal management solutions in brownfield projects, low operational cost, increasing awareness about security solutions and installing automation solutions.
On the other hand, the key restraint for the global terminal management system market is the absence of technical expertise. Global deployment of solutions is required for a company (distributor) to set up a standardized, common terminal management system for terminal operations. Therefore, sufficient technical knowledge and technical expertise are required to operate terminal management systems. Terminal upgrades and field operations require government approvals which are the main challenge for the market to help exploration activities.
Market Segmentation:
According to offering to software, one of the segments analyzed and sized in this report displays the potential to grow at over 5.2%. The fluctuating dynamics supporting this growth make it serious for businesses in this space to keep up-to-date with the changing pulse of the market. The software will bring in healthy gains adding important momentum to global terminal management system market growth.
In terms of brownfield projects, a terminal management system is quite helpful in brownfield projects where modification and up-gradation of systems become integral. With the increasingly evolving technologies, brownfield projects are increasing too which defines the rising market landscape of the terminal management system.
Global Terminal Management System Market1
Region-wise, North America is leading the market of the terminal management system because of the presence of global players which deliver a competitive advantage to the U.S. and Canada. Rising the IT industry and high deployment of cloud computing by middle & large enterprises are some of the key factors which are driving the market of the terminal management system in North America. As well, factors, like the demand for new technological solutions, an increasing number of brownfield projects, consumer awareness for security solutions and competition among developers in the region, are supporting the terminal management system market growth.
Moreover, Europe is showing steady growth in the market of the terminal management system. The high growth of the financial and healthcare sector is leading to the high adoption of on-premises and on-cloud terminal infrastructure.
Also, the Asia Pacific is developing as one of the most profitable markets for the terminal management system, growing rapidly. Rising manufacturing and BFSI sector in China and India are one of the significant driving forces accounting for the market growth in the region. Similarly, players located in China and Japan are investing heavily in the development of efficient management systems which in turn, is substantiating the market growth in APAC. Attributing to the increasing requirement for operational efficiency and the integrated safety together with the improved security solutions, the APAC market will demonstrate a galvanizing growth, observing enhancement in the terminal automation.
Recent Development:
In February 2019, Rockwell Automation, Inc. formed joint venture through signing an agreement with Schlumberger, a technology provider for oil and gas industry. The joint venture is formed to build fully integrated digital oilfield automation solutions named as Sensia for oil and gas industry. Through this joint venture the company will offer the smart technologies for the oil & gas industry customers.
In January 2019, ABB received contract to refurbish supervisory and control systems of Fuel Logistics Company (CLC), which is an operator in fuel logistics area. Under this refurbishment project, the company installed their T-MAC Plus suite which offers automation in operations as well as safety management features. Through this the company added one customer in their portfolio and introduced their offering for other market players.
ABB Ltd. is a leading player in the terminal management system market, followed by Honeywell International, Inc. and Siemens AG. In 2017, ABB signed an agreement for the safety and automation system with Statoil ASA (Norway) for new offshore oil field development in Norway. This agreement with Statoil ASA will enable ABB Ltd. to develop standard design solutions using the 800xA safety and automation system.
The objective of the report is to present a comprehensive analysis of the Global Terminal Management System Market including all the stakeholders of the industry. The past and current status of the industry with forecasted market size and trends are presented in the report with the analysis of complicated data in simple language. The report covers all the aspects of the industry with a dedicated study of key players that includes market leaders, followers and new entrants. PORTER, SVOR, PESTEL analysis with the potential impact of micro-economic factors of the market have been presented in the report. External as well as internal factors that are supposed to affect the business positively or negatively have been analyzed, which will give a clear futuristic view of the industry to the decision-makers.
The report also helps in understanding Global Terminal Management System Market dynamics, structure by analyzing the market segments and project the Global Terminal Management System Market size. Clear representation of competitive analysis of key players by application, price, financial position, Product portfolio, growth strategies, and regional presence in the Global Terminal Management System Market make the report investor’s guide.
Scope of the Global Terminal Management System Market
Global Terminal Management System Market, By Offering
• Software
• Services
Global Terminal Management System Market, By Project type
• Brownfield projects
• Greenfield projects
Global Terminal Management System Market, By Vertical
• Oil & Gas
• Chemicals
• Others
Global Terminal Management System Market, By Region
• North America
• Europe
• Asia Pacific
• Middle East & Africa
• South America
Key players operating in the Global Terminal Management System Market
• ABB Ltd.
• Honeywell International Inc.
• Siemens AG
• Yokogawa Electric Corporation
• Rockwell Automation, Inc.
• Schneider Electric
• Emerson Electric Co.
• Endress+Hauser Management AG
• General Atomics Corp.
• Implico Group
This Report Is Submitted By : Maximize Market Research Company
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