Dublin, Dec. 21, 2023 (GLOBE NEWSWIRE) -- The "Global Remote Tank Monitoring Market - 6th Edition" report has been added to ResearchAndMarkets.com's offering.
The global installed base of active remote tank monitoring (RTM) solutions reached 7.7 million units in 2022. Growing at a compound annual growth rate (CAGR) of 25%, the active installed base is estimated to reach 23.5 million units worldwide in 2027. The report estimates that the European market accounted for more than 1.8 million active RTM systems at the end of 2022. The North American market is estimated to be larger than the European at around 3.2 million active units. The Asia-Pacific market is moreover estimated to represent an installed base of about 1.7 million RTM systems at the end of 2022. South America and Middle East & Africa are smaller markets having installed bases of 385,000 units and 539,000 units respectively.
There are more than 100 RTM solution vendors active on the market worldwide and this report covers 63 companies. The analyst ranks Otodata once again as the leading RTM solution provider in terms of the active installed base worldwide with an installed base of about 2 million RTM units. Otodata is based in Canada and primarily focuses on the fuel reseller segment in North America. Otodata has so far acquired 3 companies to boost its growth plans: Wise Telemetry in April 2021, Wireless Applications Corporation (WACnGO) in December 2021 and AIUT's LPG branch in June 2022.
Anova and SkyBitz (Ametek) were in second and third place having achieved installed bases of about 1 million units and 210,000 units respectively. Anova has done a string of acquisitions including Independent Technologies, Wikon, ISA - Intelligent Sensing Anywhere, iTank (Sierra Wireless) and Silicon Controls to become the second largest RTM solution vendor with more than 2,000 customers in 80 countries. SkyBitz is based in the US and most of its tanks under management can be found in North America and a few in Mexico and other countries.
Tank Utility based in the US and German FoxInsights followed in fourth and fifth place and had installed bases of 130,000 and 125,000 tank monitoring systems respectively. Sensile Technologies, Dunraven Systems, Angus Energy, Kingspan and PowTechnology are also ranked among the largest providers with 70,000-100,000 units each.
Other RTM solution providers with installed bases of 22,000-50,000 RTM systems in active use at the end of 2022 include ATEK Access Technologies, Varec, Banner Engineering, FreeWave, GreenCityZen, Gasbot, Insite Platform Partners, SilentSoft, Tecson and Schmitt Industries.
Highlights from the report:
- Insights from numerous interviews with market-leading companies
- Comprehensive overview of the remote tank monitoring value chain and key applications
- Summary of the latest industry trends and developments
- Updated in-depth profiles of 69 key players in this market
- Reviews of vendor market shares and competitive dynamics
- Extensive global and regional market forecasts lasting until 2027
Key Attributes:
| Report Attribute | Details |
| No. of Pages | 85 |
| Forecast Period | 2022 - 2027 |
| Estimated Market Value in 2022 | 7.7 Million Units |
| Forecasted Market Value by 2027 | 23.5 Million Units |
| Compound Annual Growth Rate | 25.0% |
| Regions Covered | Global |
Key Topics Covered:
1 Tank Monitoring Solutions
1.1 Introduction to remote tank monitoring
1.2 Remote tank monitoring infrastructure
1.3 Tank fleet management
1.3.1 Tank location tracking and level monitoring
1.3.2 Security tracking and intervention
1.3.3 Regulatory compliance and reporting
1.3.4 Health and safety
1.4 Distribution operations management
1.4.1 Optimization of delivery and pick up routes
1.4.2 Inventory management and analytics
1.5 Tank segments and use cases
1.6 Business models and project strategies
2 Market Forecasts and Trends
2.1 Market analysis
2.1.1 The installed base of remote tank monitoring solutions
2.1.2 Remote tank monitoring vendor market shares
2.2 Market drivers and barriers
2.3 Value chain analysis
2.3.1 Telematics industry players
2.3.2 Tank and level sensor industry players
2.3.3 Telecom industry players
2.3.4 IT industry players
2.4 Future industry trends
3 Company Profiles and Strategies
- 360Tanks
- Angus Energy
- Anova
- Asset Monitoring Solutions
- ATEK Access Technologies (TankScan)
- Automation Products Group
- AXsensor
- Banner Engineering
- Digi International
- Dunraven Systems
- Emerson
- Endress+Hauser
- ETM Matteknik
- Farm Monitoring Solutions
- Farmbot
- FarmChem
- FLO-CORP
- Flowline
- Four Data
- FoxInsights
- FreeWave Technologies
- Gasbot
- Gobius Sensor Technology
- GreenCityZen
- Hawk Measurement
- HMS Industrial Networks
- Hoover Circular Solutions
- HyDip (IOR)
- InSite Platform Partners (North American Satellite Corporation)
- IoT Water
- iTankData
- Kingspan
- Measure Connect Display (MCD)
- Micro-Design
- Nanolike
- New Boundary Technologies
- OleumTech
- Omniflex
- Oriel Systems
- Otodata
- Packwise
- Pedigree Technologies
- Pepperl+Fuchs
- Piusi
- PowTechnology
- Pulsa
- REDtrac
- Rugged Telemetry
- Schmitt Industries (Xact Tank Monitoring Systems)
- Schneider Electric
- Senix
- Sensile Technologies (WIKA)
- SensorTech (Level Devil)
- Siemens
- SilentSoft
- SkyBitz (Ametek)
- Solidat Applied Technologies
- Soolo
- Tank Utility (Generac)
- Tanktel
- Tecson
- Tekelek
- Top Fuel
- Trimble
- Valarm
- Varec
- VEGA
- WellAware
- WIKA
For more information about this report visit https://www.researchandmarkets.com/r/hu3wxm
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