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 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. 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.
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.
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?
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. “Additional companies have recently started to look at in-organic grow opportunities more actively including for instance Otodata that acquired Wise Telemetry in April 2021 and Wika that picked up Sensile Technologies during in Q3-2020”, said Johan Fagerberg, Principal Analyst. Mr. Fagerberg anticipates that the market consolidation of the remote tank monitoring industry will accelerate in the next five years.
Who should buy 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 our in-depth research.
1 Tank monitoring solutions
1.1 Introduction to remote tank monitoring
1.2 Remote tank monitoring infrastructure
1.2.1 Tank segment
1.2.2 GNSS segment
1.2.3 Network segment
1.2.4 Backoffice segment
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
2.2.1 Macroeconomic environment
2.2.2 Regulatory environment
2.2.3 Competitive environment
2.2.4 Technology environment
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
3.1 European solution providers
3.1.3 Dunraven Systems
3.1.5 ETM Mätteknik
3.1.7 Fuel it
3.1.9 HMS Industrial Networks
3.1.12 Measure Connect Display (MCD)
3.1.14 Oriel Systems
3.1.17 Schneider Electric
3.1.18 Sensile Technologies (Wika)
3.1.22 Top Fuel
3.2 North American solution providers
3.2.1 Angus Energy
3.2.3 Asset Monitoring Solutions
3.2.4 ATEK Access Technologies (TankScan)
3.2.6 Automation Products Group
3.2.7 Banner Engineering
3.2.8 Digi International
3.2.9 Electronic Sensors (Level Devil)
3.2.12 Fluid Delivery Solutions
3.2.14 FreeWave Technologies
3.2.15 Hoover Circular Solutions
3.2.16 InSite Platform Partners (North American Satellite Corporation)
3.2.18 New Boundary Technologies
3.2.23 Rugged Telemetry
3.2.24 Schmitt Industries (Xact Tank Monitoring Systems)
3.2.25 SkyBitz (Ametek)
3.2.26 Tank Utilit
3.2.30 Wise Telemetry
3.3 Rest of World solution providers
3.3.3 Farm Monitoring Solutions
3.3.4 Hawk Measurement (FLO-CORP)
3.3.5 HyDip (IOR)
3.3.7 Solidat Applied Technologies
3.4 Tank level sensor manufacturers
3.4.2 Gobius Sensor Technology
List of Figures
Figure 1.1: Remote tank monitoring infrastructure overview
Figure 1.2: Examples of RTM solutions and liquid level sensors
Figure 1.3: Comparison of LPWA technologies
Figure 1.4: Comparison of LTE IoT specifications
Figure 1.5: Schematic of the remote tank monitoring backoffice segment
Figure 1.6: Examples of tank form factors
Figure 2.1: Remote tank monitoring shipments and installed base (World 2020-2025)
Figure 2.2: Remote tank monitoring installed base by technology (World 2020-2025)
Figure 2.3: Top-20 remote tank monitoring providers, by installed base (World Q4-2020)
Figure 2.4: Financial data for leading telematics industry players (2020)
Figure 2.5: Remote tank monitoring mergers and acquisitions (2015-2021)
Figure 2.6: Top 10 mobile operators by reported IoT Connections (World Q4-2020)
Figure 3.1: European solution providers
Figure 3.2: Remote tank monitoring solution from AIUT
Figure 3.3: The latest Alevel 1x5 smart tank level sensor from AIUT
Figure 3.4: The AXsensor liquid level sensor
Figure 3.5: Level sensors from FoxInsights
Figure 3.6: The Fuel it fuel level sensor
Figure 3.7: The liquid level sensor from Nanolike
Figure 3.8: Sensile Technologies’ Oil Link remote tank monitoring solution
Figure 3.9: North American solution providers
Figure 3.10: Gremlin heating oil and Propane monitors
Figure 3.11: Schematic overview of AT&T Asset Management - Operations Center
Figure 3.12: OleumTech wireless oilfield automation
Figure 3.13: Rest of World solution providers
Figure 3.14: Water level sensor from Farmbot
A selection of companies mentioned in this report includes:
- Angus Energy
- Asset Monitoring Solutions
- ATEK Access Technologies (TankScan)
- Automation Products Group
- Banner Engineering
- Digi International
- Dunraven Systems
- Electronic Sensors (Level Devil)
- ETM Mätteknik
- Farm Monitoring Solutions
- Fluid Delivery Solutions
- FreeWave Technologies
- Fuel it
- Gobius Sensor Technology
- Hawk Measurement (FLO-CORP)
- HMS Industrial Networks
- Hoover Circular Solutions
- HyDip (IOR)
- InSite Platform Partners (North American Satellite Corporation)
- Measure Connect Display (MCD)
- New Boundary Technologies
- Oriel Systems
- Rugged Telemetry
- Schmitt Industries (Xact Tank Monitoring Systems)
- Schneider Electric
- Sensile Technologies (Wika)
- SkyBitz (Ametek)
- Solidat Applied Technologies
- Tank Utilit
- Top Fuel
- Wise Telemetry
The Internet of Things is very diverse. There are hundreds of different use cases, each with different dynamics. The starting point is to segment the market.
The analyst begins with a number of sectors: Automotive, Cities, Health, Industry, Home, Industrial, Energy, Retail and Consumer Electronics. Each of these sectors breaks down into a number of applications. In total across all sectors, the analyst examines around 150 separate applications. It is at this application level that they generate their IoT forecast. The analyst builds reliable data bottom-up. They take into consideration the current adoption rate, regulations, demographics, vertical-specific statistics, value chain structure, etc.
The rigorous data collection methods are based on first-hand and secondary sources. The analyst conducts many hundreds of executive interviews on a yearly basis with companies from all parts of the IoT value chain. They talk to on a regular basis all major mobile operator groups and regulators as well as the chipset, module, and terminal vendors. They also interview many companies in each of the vertical markets.