Market Trends of Global Remote Tank Monitoring System Industry
This section covers the major market trends shaping the Remote Tank Monitoring System Market according to our research experts:
Oil and Gas Industry Is driving the Market Growth
For gasoline distributors, a remote oil tank monitoring system is an appropriate option for assuring cost-effective supply management while maintaining the highest level of service. It will hold an ideal supply network, reducing gasoline distribution costs.
Further, an smart IoT system optimized the distribution plans for each location, ensuring a quick return on investment. The solution includes dependable and durable IoT devices as well as user-friendly software. The system is based on wireless Internet of Things connectivity and provides real-time oil-level and diagnostic data.
By using a remote tank monitoring system in the gas and oil industries, there are multiple advantages like hourly fuel consumption readouts, economical supply management, optimization of supply plans based on current and historical data, Estimated Time of Arrival (ETA) forecasting, quick return on investment, wireless communication SRD, GSM, IoT, compatible with a wide range of, above-ground and underground tanks and low critical fuel level alarms.
For instance, Aiut manufactures OKO 5xx5 EN remote tank monitoring system. OKO 5xx5 is a data concentrator/data logger that collects data from IoT devices. Its adaptable design allows it to function in a variety of settings. The OKO 5xx5 supports a wide range of communication protocols. The OKO 5xx5 may be configured with various communication interfaces, including 869/169/433 MHz radio, Bluetooth Low Energy, RS232 / RS485, and more.
North America Expected to Hold a Significant Market Share
The North American region is expected to witness the highest growth during the forecast period. The growing oil and gas, chemical, food, and beverage industries and a rapid rise in disposable income in the region are driving the remote tank monitoring system market.
The United States(US) is one of the world's leading chemical manufacturers, and remote tank monitoring systems are also used in these industries. The Department of Transportation, the International Air Transport Association, and the Environmental Protection Agency control chemical exports in the United States. The Pipeline and Hazardous Materials Safety Administration, part of the US Department of Transportation, controls the delivery of chemicals to industry and consumers by any form of transportation.
There are several North American companies providing and changing with advanced technology in Remote tank monitoring systems, such as Angus Energy, Anova, Asset Monitoring Solutions, ATEK Access Technologies (TankScan), AT&T, Automation Products Group, Banner Engineering, etc.
For instance, Anova, a North American provider of remote tank monitoring solutions, launched its Anova Installation Services program in June 2021, allowing propane, fuels, and lubricants companies to experience the advantages of remote tank monitoring more quickly.
