The Global Remote Tank Monitoring Market - 6th Edition

Installed Base of Connected Tanks to Reach 23.5 Million by 2027

The Global Remote Tank Monitoring Market analyses the latest trends and developments on the market for connected tanks. This strategic research report provides you with unique business intelligence including 5-year industry forecasts and expert commentary on which to base your business decisions.

The analyst estimates that 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 analyst 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

This report answers the following questions:

• What is the potential market size for remote tank monitoring applications?
• Which trends and developments are shaping the market?
• Which are the key application areas for this technology?
• What business models are used by the solution vendors?
• What are the market shares for the leading solution vendors?
• How will emerging LPWA connectivity options affect the market?
• How will the remote tank level monitoring market evolve in the future?

Who should read this report?

The Global Remote Tank Monitoring Market is the foremost source of information about the adoption of connected tank level measurement devices in multiple market segments. Whether you are a device vendor, service provider, telecom operator, investor, consultant, tank fleet owner or government agency, you will gain valuable insights from this in-depth research.