The Global Remote Tank Monitoring Market – 3rd Edition

The Global Remote Tank Monitoring Market – 3rd Edition

  • December 2020 •
  • 100 pages •
  • Report ID: 5490400 •
  • Format: PDF
The analyst estimates that the global installed base of active remote tank monitoring (RTM) solutions reached 3.6 million units in 2019. Growing at a compound annual growth rate (CAGR) of 35.1 percent, the active installed base is estimated to reach 16.3 million units worldwide in 2024. The analyst estimates that the European market accounted for more than 0.9 million active RTM systems at the end of 2019. The North American market is estimated to be larger than the European at around 1.2 million active units. The Asia-Pacific market is moreover estimated to represent an installed base of about 1.0 million RTM systems at the end of 2019. South America and Middle East & Africa are smaller markets having installed bases of 181,000 units and 326,000 units respectively. 

There are more than 100 RTM solution vendors active on the market worldwide and this report covers 60 companies. The analyst ranks Anova as the leading RTM solution provider in terms of the active installed base worldwide with an installed base of about 570,000 RTM units at the end of 2019. Anova has done a string of acquisitions including Independent Technologies, Wikon, ISA, iTank (Sierra Wireless) and Silicon Controls to become the largest RTM solution vendor with more than 1,600 customers in 70 countries. Otodata and SkyBitz (Ametek) were in second and third place having achieved installed bases of about 500,000 units and 150,000 units respectively. Otodata is based in Canada and primarily focuses on the fuel reseller segment in North America, whereas 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 shared fourth place and had each an installed base of 100,000 tank monitoring systems. WACnGO, Varec, ATEK Access Technologies, Kingspan, Angus Energy and Tank Utility are also ranked among the largest providers with 50,000–60,000 units each. Other RTM solution providers with installed bases of 15,000–45,000 RTM systems in active use at the end of 2019 include Dunraven Systems, FreeWave, Powelectrics, SilentSoft, Insite Platform Partners, LIV-T, FarmChem, Schmitt Industries and Banner Engineering.