Dublin, Dec. 22, 2021 (GLOBE NEWSWIRE) -- The "The Global Remote Tank Monitoring Market - 4th Edition" report has been added to ResearchAndMarkets.com's offering.
The installed base of remote tank monitoring (RTM) systems is forecasted to grow at a compound annual growth rate of 35.5 percent from 4.8 million units at the end of 2020 to 22.2 million units by 2025.
This study investigates the market for connected tanks in various industries. Typical applications include tank location tracking, tank level monitoring, regulatory compliance and reporting as well as optimization of delivery and pick up routes, and inventory management and analytics.
The report is based on numerous executive interviews and profiles the leading 62 RTM vendors. Get up to date with the latest information about vendors, products and markets.
The installed base of connected tanks to reach 22.2 million in 2025
The global installed base of active remote tank monitoring (RTM) solutions reached 4.8 million units at the end of 2020. Growing at a compound annual growth rate (CAGR) of 35.5 percent, the active installed base is estimated to reach 22.2 million units worldwide in 2025. The analyst estimates that the European market accounted for more than 1.3 million active RTM systems at the end of 2020.
The North American market is estimated to be larger than the European at around 1.6 million active units. The Asia-Pacific market is moreover estimated to represent an installed base of about 1.4 million RTM systems. South America and Middle East & Africa are smaller markets having installed bases of 243,000 units and 388,000 units respectively.
There are more than 100 RTM solution vendors active on the market worldwide and this report covers 62 companies. The analyst ranks Otodata as the leading RTM solution provider in terms of the active installed base worldwide with an installed base of about 1.0 million RTM units. Otodata is based in Canada and primarily focuses on the fuel reseller segment in North America.
Anova and SkyBitz (Ametek) were in second and third place having achieved installed bases of about 743,000 units and 180,000 units respectively. Anova has done a string of acquisitions including Independent Technologies, Wikon, ISA - Intelligent Sensing Anywhere and iTank (Sierra Wireless) and Silicon Controls to become the second largest RTM solution vendor with more than 2,000 customers in 70 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.
Polish AIUT and Sensile Technologies from Switzerland followed in fourth and fifth place and had installed bases of 138,000 and 100,000 tank monitoring systems respectively. Tank Utility, FoxInsights, Angus Energy, Dunraven Systems, WACnGO and Kingspan are also ranked among the largest providers with 55,000-92,000 units each.
Other RTM solution providers with installed bases of 21,000-50,000 RTM systems in active use at the end of 2020 include Varec, ATEK Access Technologies, Powelectrics, Banner Engineering, FreeWave, SilentSoft, Insite Platform Partners, GreenCityZen and Schmitt Industries.
Merger and acquisition activity on this market is just about to commence at the same time as new innovative companies enter the market. Anova has been the most ambitious consolidator on the market so far with its acquisitions of 5 major companies.
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 2025.
Market forecasts and trends
- Market analysis
- The installed base of remote tank monitoring solutions
- Remote tank monitoring vendor market shares
- Market drivers and barriers
- Macroeconomic environment
- Regulatory environment
- Competitive environment
- Technology environment
- Value chain analysis
- Telematics industry players
- Tank and level sensor industry players
- Telecom industry players
- IT industry players
- Future industry trends
Company profiles and strategies
European solution providers
- AIUT
- AXsensor
- Dunraven Systems
- Endress+Hauser
- ETM Matteknik
- FoxInsights
- Fuel it
- GreenCityZen
- HMS Industrial Networks
- iLevel
- Kingspan
- Measure Connect Display (MCD)
- Nanolike
- Oriel Systems
- Piusi
- Powelectrics
- Schneider Electric
- Sensile Technologies (Wika)
- Siemens
- SilentSoft
- Tecson
- Top Fuel
- VEGA
North American solution providers
- Angus Energy
- Anova
- Asset Monitoring Solutions
- ATEK Access Technologies (TankScan)
- AT&T
- Automation Products Group
- Banner Engineering
- Digi International
- Electronic Sensors (Level Devil)
- Emerson
- FarmChem
- Fluid Delivery Solutions
- Fource
- FreeWave Technologies
- Hoover Circular Solutions
- InSite Platform Partners (North American Satellite Corporation)
- Micro-Design
- New Boundary Technologies
- OleumTech
- Otodata
- Pulsa
- REDtrac
- Rugged Telemetry
- Schmitt Industries (Xact Tank Monitoring Systems)
- SkyBitz (Ametek)
- Tank Utilit
- Trimble
- Valarm
- Varec
- Wise Telemetry
Rest of World solution providers
- 360Tanks
- Farmbot
- Farm Monitoring Solutions
- Hawk Measurement (FLO-CORP)
- HyDip (IOR)
- Omniflex
- Solidat Applied Technologies
- Tanktel
- WACnGO
- Tank level sensor manufacturers
- Flowline
- Gobius Sensor Technology
- Pepperl+Fuchs
- Senix
- Tekelek
- Terabee
- Wika
For more information about this report visit https://www.researchandmarkets.com/r/3tk5ly
