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The Tank Level Monitoring System Market is projected to grow by USD 266.8 million from 2024-2028, driven by increasing demand in process industries, Market evolution insights powered by AI – Technavio

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NEW YORK, Aug. 30, 2024 /PRNewswire/ — Report on how AI is driving market transformation- The global tank level monitoring system market size is estimated to grow by USD 266.8 million from 2024-2028, according to Technavio. The market is estimated to grow at a CAGR of  5.33%  during the forecast period. Growing demand for tank level monitoring system from process industries is driving market growth, with a trend towards technological advancements in tank level monitoring system. However, high cost associated with tank level monitoring system  poses a challenge. Key market players include ABB Ltd., AMETEK Inc., Automation Products Group Inc., Emerson Electric Co., Endress Hauser Group Services AG, FAFNIR GmbH, Flowline, Inc, Fuji Electric Co. Ltd., Garner Industries LLC, Gems Sensors Inc., Graco Inc., Honeywell International Inc., IVEDA SOLUTIONS, INC., KROHNE Messtechnik GmbH, L and J Technologies, Madison Co., Inc., Omega Engineering Inc., OMNTEC Mfg., Inc., Rochester Sensors, Schneider Electric SE, Siemens AG, Tag IT Technologies, Tek-Trol LLC, Temposonics LLC, VEGA Grieshaber KG, and Yokogawa Electric Corp..

Get a detailed analysis on regions, market segments, customer landscape, and companies- View the snapshot of this report

Tank Level Monitoring System Market Scope

Report Coverage

Details

Base year

2023

Historic period

Forecast period

2024-2028

Growth momentum & CAGR

Accelerate at a CAGR of 5.33%

Market growth 2024-2028

USD 266.8 million

Market structure

Fragmented

YoY growth 2022-2023 (%)

4.96

Regional analysis

North America, Europe, APAC, South America, and Middle East and Africa

Performing market contribution

North America at 34%

Key countries

US, Germany, China, France, Japan, and India

Key companies profiled

ABB Ltd., AMETEK Inc., Automation Products Group Inc., Emerson Electric Co., Endress Hauser Group Services AG, FAFNIR GmbH, Flowline, Inc, Fuji Electric Co. Ltd., Garner Industries LLC, Gems Sensors Inc., Graco Inc., Honeywell International Inc., IVEDA SOLUTIONS, INC., KROHNE Messtechnik GmbH, L and J Technologies, Madison Co., Inc., Omega Engineering Inc., OMNTEC Mfg., Inc., Rochester Sensors, Schneider Electric SE, Siemens AG, Tag IT Technologies, Tek-Trol LLC, Temposonics LLC, VEGA Grieshaber KG, and Yokogawa Electric Corp.

Market Driver

The Tank Level Monitoring System market is growing due to increasing demand for efficient and accurate inventory management in various industries. These systems provide real-time data on liquid levels, preventing overfilling or underfilling, and reducing operational costs. They use sensors and transmit data wirelessly to a central system for monitoring and analysis. Companies are investing in these systems to enhance their supply chain management and improve customer satisfaction. 

The Tank Level Monitoring System market is experiencing significant growth in various industries such as Manufacturing, Oil and gas, Transportation, Power generation, Mining, Chemical plants, Pulp and paper, Steel mills, Glass manufacturing, and more. Companies are investing in advanced tank management solutions, including wireless IoT solutions, ultrasonic transmitters, and radar transmitters, to optimize inventory, improve efficiency, and ensure regulatory compliance. LNG, petrochemical, and mining industries are major adopters of these technologies for fluid level monitoring and static pressure sensing. Industry 4.0 and industrial automation are driving the integration of data analytics, artificial intelligence, and wireless sensor networks into tank monitoring systems. Anomaly detection and inventory optimization are key benefits, while environmental regulations continue to shape market trends.

Explore a 360° Analysis of the Market: Unveil the Impact of AI. For complete insights- Request Sample!

Market Challenges

The Tank Level Monitoring System market is growing due to increasing demand for efficient and accurate inventory management in various industries. These systems help businesses monitor liquid levels in real-time, reducing overage and underage issues, and ensuring optimal stock levels. The market is driven by advancements in IoT and wireless technologies, making installation and maintenance easier and more cost-effective. Overall, TLMS solutions provide significant cost savings and operational improvements for businesses.The Tank Level Monitoring System market is witnessing significant growth due to the increasing demand for efficient inventory management and regulatory compliance in various industries. Challenges such as data analytics and artificial intelligence are driving the need for advanced tank management solutions that offer anomaly detection and inventory optimization. Environmental regulations and industrial automation are also major factors pushing the market forward. Industries like mining, power plants, oil and gas, transportation, power generation, mining, chemical plants, pulp and paper, steel mills, glass manufacturing, and LNG are major consumers of tank level monitoring systems. Technologies like ultrasonic sensors, IoT-powered systems, and wireless sensor networks are key enablers for these solutions. Ultrasonic transmitters and radar transmitters are popular sensor types used for fluid level monitoring and static pressure sensing. The market is expected to continue growing with the advent of Industry 4.0 and the increasing adoption of wireless IoT solutions.

For more insights on driver and challenges – Request a sample report!

Segment Overview 

This tank level monitoring system market report extensively covers market segmentation by  

Application 1.1 Oil and gas1.2 Chemical industry1.3 Water and wastewater management1.4 Food and beverage1.5 OthersProduct 2.1 Non-invasive systems2.2 Invasive systemsGeography 3.1 North America3.2 Europe3.3 APAC3.4 South America3.5 Middle East and Africa

1.1 Oil and gas-  The Tank Level Monitoring System market is growing due to increasing demand for efficient and accurate inventory management in various industries. These systems help businesses monitor liquid levels in real-time, reducing overage and underage issues, and minimizing operational costs. Advanced technologies like IoT and wireless communication enable remote monitoring and timely alerts, enhancing overall productivity and profitability.

For more information on market segmentation with geographical analysis including forecast (2024-2028) and historic data (2017-2021) – Download a Sample Report

Research Analysis

The Tank Level Monitoring System market encompasses solutions that help industries, including Oil and Gas, Transportation, Power Generation, Mining, Chemical Plants, Pulp and Paper, Steel Mills, and Glass Manufacturing, manage and optimize their liquid storage facilities. These systems leverage technologies like Wireless Sensor Networks, Data Analytics, and Artificial Intelligence (AI) to provide real-time insights into tank levels, detect anomalies, and optimize inventory. In industries with stringent environmental regulations, such as Mining and Power Plants, these systems play a crucial role in ensuring compliance and minimizing losses. Tank Management Solutions offer features like remote monitoring, predictive maintenance, and integration with enterprise resource planning (ERP) systems to streamline operations and enhance efficiency.

Market Research Overview

The Tank Level Monitoring System market encompasses various industries including Manufacturing, Oil and gas, Transportation, Power generation, Mining, Chemical plants, Pulp and paper, Steel mills, Glass manufacturing, and Wireless IoT solutions. These systems play a crucial role in monitoring fluid levels in LNG, Petrochemical, and other applications using Ultrasonic transmitters and Radar transmitters. The integration of Wireless sensor networks, Data analytics, Artificial intelligence (AI), Tank management solutions, Anomaly detection, and Inventory optimization enhances efficiency and accuracy. Environmental regulations and Industrial automation drive the demand for advanced tank level monitoring systems in Industry 4.0. Ultrasonic Sensors, IoT-powered systems, and Fluid Level Monitoring are essential components of these systems, while Static Pressure Sensing ensures accurate level measurement.

Table of Contents:

1 Executive Summary
2 Market Landscape
3 Market Sizing
4 Historic Market Size
5 Five Forces Analysis
6 Market Segmentation

ApplicationOil And GasChemical IndustryWater And Wastewater ManagementFood And BeverageOthersProductNon-invasive SystemsInvasive SystemsGeographyNorth AmericaEuropeAPACSouth AmericaMiddle East And Africa

7 Customer Landscape
8 Geographic Landscape
9 Drivers, Challenges, and Trends
10 Company Landscape
11 Company Analysis
12 Appendix

About Technavio

Technavio is a leading global technology research and advisory company. Their research and analysis focuses on emerging market trends and provides actionable insights to help businesses identify market opportunities and develop effective strategies to optimize their market positions.

With over 500 specialized analysts, Technavio’s report library consists of more than 17,000 reports and counting, covering 800 technologies, spanning across 50 countries. Their client base consists of enterprises of all sizes, including more than 100 Fortune 500 companies. This growing client base relies on Technavio’s comprehensive coverage, extensive research, and actionable market insights to identify opportunities in existing and potential markets and assess their competitive positions within changing market scenarios.

Contacts

Technavio Research
Jesse Maida
Media & Marketing Executive
US: +1 844 364 1100
UK: +44 203 893 3200
Email: media@technavio.com
Website: www.technavio.com/

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Technology

Financial Trust Asset Management Named to PSN Top Guns List of Best Performing Strategies for Q2 2024

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Quarterly PSN Top Guns List published by Zephyr identifies best-in-class separate accounts, managed accounts, and managed ETF strategies.

BOCA RATON, Fla., Sept. 19, 2024 /PRNewswire/ — Financial Trust Asset Management announced today it has been named to the celebrated PSN Top Guns List of best performing separate accounts, managed accounts, and managed ETF strategies for Q2 2024. The highly anticipated list, published by Zephyr, remains one of the most important references for investors and asset managers.

“PSN Top Guns award winners are honored for exceptional performance. Showcasing these strategies within a dedicated peer universe provides essential insight for advisors, institutions, plan sponsors, family offices and wealth managers interested in incorporating SMAs (Separately Managed Accounts) into their clients’ portfolios,” says Nick Williams, Product Manager of PSN at Zephyr. “It is because of this that this quarter marks the first time that PSN Top Guns is now openly accessible.”

Financial Trust Asset Management’s separate account strategies won 34 Top Guns awards from Informa Investment Solutions (PSN) for the 2nd Quarter 2024. Financial Trust had 13 strategies win 34 awards in 15 universe categories.

“Ongoing recognition by Informa PSN for the performance of our quantitatively driven investment strategies is something we are very proud of,” says Arno Mayer CFA CFP, Chief Investment Officer for Financial Trust.

Greg Vigrass, President & CEO for Financial Trust added, “continuing to be recognized in this way is a real honor, and recognition of our focused, disciplined investment approach.”

Through a combination of PSN’s proprietary performance screens, PSN Top Guns awards products in six proprietary categories in over 75 universes based on continued performance over time.

Financial Trust Asset Management’s following strategies earned a PSN Top Guns award for the 2nd quarter of 2024.

For a list of Financial Trust’s award winning strategies for Q2 2024, click here.

[1-Star Category:] had one of the top ten returns for the quarter in their respective strategy.

[2-Star Category:] had one of the top ten returns for the one-year period in their respective strategy.

[3-Star Category:] had one of the top ten returns for the three-year period in their respective strategy.

[4-Star Category:] had an r-squared of 0.80 or greater relative to the style benchmark for the recent five-year period. Moreover, the strategy’s returns exceeded the style benchmark for the three latest three-year rolling periods. The top ten returns for the latest three-year period then become the 4 Star Top Guns.

[Bull & Bear Masters:] had an r-squared of 0.80 or greater relative to the style benchmark for a three-year period. Moreover, the strategy had an upside market capture over 100 and a downside market capture less than 100 relative to the style benchmark. The top ten ratios of Upside Capture Ratio over Downside Capture Ratio become the PSN Bull & Bear Masters.

The complete list of PSN Top Guns and an overview of the methodology can be located at https://informaconnect.com/zephyr/psn-top-guns/.  

About Financial Trust Asset Management
Financial Trust Asset Management is an independently owned boutique investment management firm specializing in active and passive investment solutions for individual investors and investment professionals.

Our mission is to empower investors and investment professionals to achieve financial success through trusted relationships, expert guidance, and personalized solutions.

The firm’s highly disciplined, quantitative investment approach is characterized by a distinctive blend of fundamental bottom-up stock selection, top-down macro research and technical evaluation.

https://informaconnect.com/zephyr/psn-financial-sma-data/
For nearly four decades, https://informaconnect.com/zephyr/psn-financial-sma-data/ has been a top resource for investment professionals. Asset managers rely on Zephyr’s PSN to effectively reach institutional and retail investors. Over 2,800 firms, 285 universes, and more than 21,000 products comprise the PSN SMA database showing asset breakdowns, compliance, key personnel, ownership diversity, ESG, business objectives and strategy, style, fees, GIC sectors, fixed income ranges and full holdings. Unique to PSN is its robust historical database of nearly 40 Years of Data Including Net and Gross-of-Fee Returns. PSN Mid-Year Outlook provides insight and trends about the SMA industry. You can view it online here.
Visit PSN online to learn more.

Disclosure: Past performance is not a guarantee of future results. Certain investments give rise to substantial risk and are not suitable for all investors. There is no guarantee that an investment with the referenced strategies will meet its investment goals and the rating many not be representative of any one client’s experience. Financial Trust Asset Management claims compliance with the Global Investment Performance Standards (GIPS®) and prepares performance data in compliance with GIPS standards and meets the requirements of the CFA Institute with regards to creating and reporting product composites. The ratings at PSN reflect the requirements of the GIPS standards published in the GIPS Handbook and are an average of all of the experiences of the manager’s client base. All material provided is compiled from sources believed to be reliable and current, but accuracy cannot be guaranteed. The investment performance figures submitted to PSN portray the history for all separately managed portfolios that meet the composite definition gross of fees. The information presented herein should not be considered as personalized investment advice nor construed as a solicitation to buy or sell any security or engage in a particular investment strategy. PSN and Informa Financial Intelligence have no affiliation with Financial Trust Asset Management, but rather evaluate investment managers’ performance on an objective basis. All other disclosures and fee schedules can be found in Financial Trust Asset Management’s Form ADV Part 2A which is available on our company website. Financial Trust Asset Management, Chartered is state- registered Investment Advisor. www.Financialtrust.net

Media Contact: Greg Vigrass
Financial Trust Asset Management                                            
gvigrass@financialtrust.net
(407) 492-0672

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SOURCE Financial Trust Asset Management

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Eonix Awarded Air Force Phase II STTR to Unlock Next-Gen Warfare with Scalable Ultra-High-Power Batteries

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Leveraging the ATLAS platform, Eonix will accelerate battery materials discovery focused on powering Directed Energy, C-sUAS, and e-VTOL systems

KNOXVILLE, Tenn., Sept. 19, 2024 /PRNewswire-PRWeb/ — Eonix, a pioneer in next-generation battery technology, has been selected by AFWERX for a PHASE II STTR contract with the University of Tennessee Tickle College of Engineering in the amount of $1.7M focused on ultra-high-power batteries for directed energy, counter drone swarms, and e-VTOL systems. The funds will be used to design high conductivity electrolytes that are drop-in compatible with batteries manufactured today and meet the ambitious DoD energy storage targets for next gen platforms.

The Eonix ATLAS materials discovery platform will design a next generation battery chemistry that improves power density, discharge rate, and operational temperature…thus powering the Air Force to respond to a rapid evolution of aerial threats.

“New technologies like Directed Energy, Counter Small Unmanned Aircraft (C-sUAS), and electric Vertical Take Off Landing (e-VTOL) Systems promise to transform modern air defense systems by offering cost-effective engagement, enhanced base resiliency, and advanced surveillance and attack capabilities,” said Eonix Founder Don Derosa. “Our ATLAS materials discovery platform will design a next generation battery chemistry that improves power density, discharge rate, and operational temperature…thus powering the Air Force to respond to a rapid evolution of aerial threats.”

Eonix is revolutionizing battery product development, leveraging their ATLAS platform which is 40x faster and 15x lower cost than traditional R&D methods. This groundbreaking platform, previously harnessed for projects backed by Army/DOE/NSF/Air Force, pairs real-time measurement of material behavior in batteries with quantum mechanics simulations to train AI models, significantly accelerating materials discovery. These models predict material performance and suggest novel material candidates, marking a significant leap forward in the quest for next-gen energy storage solutions.

The Air Force Research Laboratory and AFWERX have partnered to streamline the Small Business Innovation Research (SBIR) and Small Business Technology Transfer (STTR) process by accelerating the small business experience through faster proposal to award timelines, changing the pool of potential applicants by expanding opportunities to small business and eliminating bureaucratic overhead by continually implementing process improvement changes in contract execution. The DAF began offering the Open Topic SBIR/STTR program in 2018 which expanded the range of innovations the DAF funded and now on Eonix will start its journey to create and provide innovative capabilities that will strengthen the national defense of the United States of America.

The views expressed are those of the author and do not necessarily reflect the official policy or position of the Department of the Air Force, the Department of Defense, or the U.S. government.

About Eonix

Eonix is designing next generation batteries decades ahead of most R&D cycles using the world’s first end-to-end automated materials discovery platform for energy storage. Eonix’s mission is to design market specific materials, decades ahead of their time, that are drop-in compatible with batteries manufactured today. This will enable affordable EVs, fast charging consumer electronics, safer energy storage for the warfighter, and a greener future. With funding from the Department of Defense, Department of Energy, and National Science foundation, Eonix has leveraged our ATLAS platform to design a non-flammable lithium ion battery. Learn more about our revolutionary process at www.eonixenergy.com

About AFRL

The Air Force Research Laboratory is the primary scientific research and development center for the Department of the Air Force. AFRL plays an integral role in leading the discovery, development, and integration of affordable warfighting technologies for our air, space and cyberspace force. With a workforce of more than 12,500 across nine technology areas and 40 other operations across the globe, AFRL provides a diverse portfolio of science and technology ranging from fundamental to advanced research and technology development. For more information, visit www.afresearchlab.com

About AFWERX

As the innovation arm of the DAF and a directorate within the Air Force Research Laboratory, AFWERX brings cutting-edge American ingenuity from small businesses and start-ups to address the most pressing challenges of the DAF. AFWERX employs approximately 370 military, civilian and contractor personnel at five hubs and sites executing an annual $1.4 billion budget. Since 2019, AFWERX has executed over 6,200 new contracts worth more than $4.7 billion to strengthen the U.S. defense industrial base and drive faster technology transition to operational capability. For more information, visit: www.afwerx.com

Media Contact

Ryan Sommer, MaintainPR, 1 6462204256, ryan@maintainpr.com, https://www.maintainpr.com

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SOURCE Eonix

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TI increases dividend 5%, marking 21 consecutive years of increases

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DALLAS, Sept. 19, 2024 /PRNewswire/ — Texas Instruments Incorporated (TI) (Nasdaq: TXN) today said it will raise its quarterly cash dividend 5%, from $1.30 per share to $1.36, or $5.44 annualized. The higher dividend will be payable November 12, 2024, to stockholders of record on October 31, 2024, contingent upon formal declaration by the board of directors at its regular meeting in October.   

The increase is consistent with TI’s long-term objective for dividends by providing a sustainable and growing dividend and reflects the company’s continued commitment to return all free cash flow to its owners over time. Today’s announcement marks 21 consecutive years of dividend increases.

Notice regarding forward-looking statements

This release includes forward-looking statements intended to qualify for the safe harbor from liability established by the Private Securities Litigation Reform Act of 1995. These forward-looking statements generally can be identified by phrases such as TI or its management “believes,” “expects,” “anticipates,” “foresees,” “forecasts,” “estimates” or other words or phrases of similar import. Similarly, statements herein that describe TI’s business strategy, outlook, objectives, plans, intentions or goals also are forward-looking statements. All such forward-looking statements are subject to certain risks and uncertainties that could cause actual results to differ materially from those in forward-looking statements.

We urge you to carefully consider the following important factors that could cause actual results to differ materially from the expectations of TI or our management:

Economic, social and political conditions, and natural events in the countries in which we, our customers or our suppliers operate, including global trade policies;Market demand for semiconductors, particularly in the industrial and automotive markets, and customer demand that differs from forecasts;Our ability to compete in products and prices in an intensely competitive industry;Evolving cybersecurity and other threats relating to our information technology systems or those of our customers, suppliers and other third parties;Our ability to successfully implement and realize opportunities from strategic, business and organizational changes, or our ability to realize our expectations regarding the amount and timing of associated restructuring charges and cost savings;Our ability to develop, manufacture and market innovative products in a rapidly changing technological environment, our timely implementation of new manufacturing technologies and installation of manufacturing equipment, and our ability to realize expected returns on significant investments in manufacturing capacity;Availability and cost of key materials, utilities, manufacturing equipment, third-party manufacturing services and manufacturing technology;Our ability to recruit and retain skilled personnel and effectively manage key employee succession;Product liability, warranty or other claims relating to our products, software, manufacturing, delivery, services, design or communications, or recalls by our customers for a product containing one of our parts;Compliance with or changes in the complex laws, rules and regulations to which we are or may become subject, or actions of enforcement authorities, that restrict our ability to operate our business or subject us to fines, penalties or other legal liability;Changes in tax law and accounting standards that impact the tax rate applicable to us, the jurisdictions in which profits are determined to be earned and taxed, adverse resolution of tax audits, increases in tariff rates, and the ability to realize deferred tax assets;Financial difficulties of our distributors or semiconductor distributors’ promotion of competing product lines to our detriment; or disputes with current or former distributors;Losses or curtailments of purchases from key customers or the timing and amount of customer inventory adjustments;Our ability to maintain or improve profit margins, including our ability to utilize our manufacturing facilities at sufficient levels to cover our fixed operating costs, in an intensely competitive and cyclical industry and changing regulatory environment;Our ability to maintain and enforce a strong intellectual property portfolio and maintain freedom of operation in all jurisdictions where we conduct business; or our exposure to infringement claims;Instability in the global credit and financial markets; andImpairments of our non-financial assets.

For a more detailed discussion of these factors, see the Risk factors discussion in Item 1A of TI’s most recent Form 10-K. The forward-looking statements included in this release are made only as of the date of this release, and we undertake no obligation to update the forward-looking statements to reflect subsequent events or circumstances. If we do update any forward-looking statement, you should not infer that we will make additional updates with respect to that statement or any other forward-looking statement.

About Texas Instruments

Texas Instruments Incorporated (Nasdaq: TXN) is a global semiconductor company that designs, manufactures and sells analog and embedded processing chips for markets such as industrial, automotive, personal electronics, communications equipment and enterprise systems. At our core, we have a passion to create a better world by making electronics more affordable through semiconductors. This passion is alive today as each generation of innovation builds upon the last to make our technology more reliable, more affordable and lower power, making it possible for semiconductors to go into electronics everywhere. Learn more at TI.com.

TXN-G

 

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