Global Underwater Exploration Robots Market to Grow at a CAGR of 14% Through 2021, Reports Technavio

June 14, 2017

#Research--Technavio market research analysts forecast the global underwater exploration robots market to grow at a CAGR of close to 14% during the forecast period, according to their latest report.

The market study covers the present scenario and growth prospects of the global underwater exploration robots market for 2017-2021. The report also lists oil and gas, defense, and scientific research, as the three major end-user segments of which the oil and gas segment dominated the market with more than 43% of the market share in 2016.

According to Raghav Bharadwaj Shivaswamy, a lead research analyst at Technavio for robotics “The demand for underwater exploration robots is driven primarily by the increase in demand for maritime systems that can collect information for organizations and governments in sectors, such as oil and gas, defense and security, and for scientific research in the form of help in surveys related to oceanography and hydrography.

This report is available at a USD 1,000 discount for a limited time only: View market snapshot before purchasing

Buy 1 Technavio report and get the second for 50% off. Buy 2 Technavio reports and get the third for free.

Technavio analysts highlight the following three market drivers that are contributing to the growth of the global underwater exploration robots market:
- Increasing offshore E&P programs
- Advancement in computing and communications
- Increased demand for oceanography and hydrography
Increasing offshore E&P programs

There is an increasing need for exploring petroleum-based energy sources by the oil and gas industry, which has propelled the demand for technologies suitable for hostile offshore and subsea environments. The demand for underwater exploration robots for such environments is high, as they are hard to reach and require advanced hardware and software to operate. Another major reason for their demand is the several serious challenges to health, safety, and environment (HSE), which are involved in E&P activities.

Owing to the slump in the oil and gas industry in 2014, there is an intensifying need to explore hostile environments in a cost-effective and efficient manner. Apart from engaging in strategic partnerships with relevant members in the oil and gas value chain, companies are also aiming at implementing automation and robotics for safe and cost-effective exploration.

Advancement in computing and communications

With the advancement in technology, key vendors in the market are innovating the underwater exploration robots manufactured by them to expand their offerings of autonomous and semi-autonomous robots. The evolution of sensors has led to miniaturization and reduction in the cost of sensors, along with enhancements in the ability to improve the adaptive and intelligent capabilities of remotely operated vehicle (ROVs) and autonomous underwater vehicle (AUVs).

“The underwater exploration robots can perform predetermined missions, provide excellent quality optical and acoustic images, and gather environmental data regarding features such as temperature, salinity, depth, and currents,” says Raghav.

Increased demand for oceanography and hydrography

Another driver influencing the growth of the underwater exploration robots market is the fact that the ocean covers around 70% of the earth, a lot of it is unexplored due to the immense area, difficult operating conditions above the water surface, and communication challenges. ROVs and AUVs are extensively being used for research in the fields of hydrography and oceanography, as they have more capabilities than weather buoys and cost lesser than weather ships and research vessels.

Oceanographers are increasingly opting for unmanned operations to conduct hydrographic surveys as they help reduce costs and increase safety. They have the capability to monitor pipelines and support maintenance and repair work through the data collection.

Browse Related Reports:
Become a Technavio Insights member and access all three of these reports for a fraction of their original cost. As a Technavio Insights member, you will have immediate access to new reports as they’re published in addition to all 6,000+ existing reports covering segments like automation. This subscription nets you thousands in savings, while staying connected to Technavio’s constant transforming research library, helping you make informed business decisions more efficiently.

About Technavio

Technavio is a leading global technology research and advisory company. The company develops over 2000 pieces of research every year, covering more than 500 technologies across 80 countries. Technavio has about 300 analysts globally who specialize in customized consulting and business research assignments across the latest leading edge technologies.

Technavio analysts employ primary as well as secondary research techniques to ascertain the size and vendor landscape in a range of markets. Analysts obtain information using a combination of bottom-up and top-down approaches, besides using in-house market modeling tools and proprietary databases. They corroborate this data with the data obtained from various market participants and stakeholders across the value chain, including vendors, service providers, distributors, re-sellers, and end-users.

If you are interested in more information, please contact our media team at [email protected].

Contacts
Technavio Research
Jesse Maida
Media & Marketing Executive
US: +1 630 333 9501
UK: +44 208 123 1770
www.technavio.com
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LONDON–(BUSINESS WIRE)–#Research—Technavio
market research analysts forecast the global
underwater exploration robots market to grow at a CAGR of
close to 14% during the forecast period, according to their latest
report.

The market study covers the present scenario and growth prospects of the
global underwater
exploration robots market for 2017-2021. The report also
lists oil and gas, defense, and scientific research, as the three major
end-user segments of which the oil and gas segment dominated the market
with more than 43% of the market share in 2016.

According to Raghav Bharadwaj Shivaswamy, a lead research analyst at
Technavio for robotics
“The demand for underwater exploration robots is driven primarily by
the increase in demand for maritime systems that can collect information
for organizations and governments in sectors, such as oil and gas,
defense and security, and for scientific research in the form of help in
surveys related to oceanography and hydrography.

This report is available at a USD 1,000 discount for a limited time
only: View
market snapshot before purchasing

Buy 1 Technavio report and get the second for 50% off. Buy 2
Technavio reports and get the third for free.

Technavio analysts highlight the following three market drivers that are
contributing to the growth of the global underwater exploration robots
market:

Increasing offshore E&P programs
Advancement in computing and communications
Increased demand for oceanography and hydrography

Increasing offshore E&P programs

There is an increasing need for exploring petroleum-based energy sources
by the oil and gas industry, which has propelled the demand for
technologies suitable for hostile offshore and subsea environments. The
demand for underwater exploration robots for such environments is high,
as they are hard to reach and require advanced hardware and software to
operate. Another major reason for their demand is the several serious
challenges to health, safety, and environment (HSE), which are involved
in E&P activities.

Owing to the slump in the oil and gas industry in 2014, there is an
intensifying need to explore hostile environments in a cost-effective
and efficient manner. Apart from engaging in strategic partnerships with
relevant members in the oil and gas value chain, companies are also
aiming at implementing automation and robotics for safe and
cost-effective exploration.

Advancement in computing and communications

With the advancement in technology, key vendors in the market are
innovating the underwater exploration robots manufactured by them to
expand their offerings of autonomous and semi-autonomous robots. The
evolution of sensors has led to miniaturization and reduction in the
cost of sensors, along with enhancements in the ability to improve the
adaptive and intelligent capabilities of remotely operated vehicle
(ROVs) and autonomous underwater vehicle (AUVs).

“The underwater exploration robots can perform predetermined
missions, provide excellent quality optical and acoustic images, and
gather environmental data regarding features such as temperature,
salinity, depth, and currents,” says Raghav.

Increased demand for oceanography and hydrography

Another driver influencing the growth of the underwater exploration
robots market is the fact that the ocean covers around 70% of the earth,
a lot of it is unexplored due to the immense area, difficult operating
conditions above the water surface, and communication challenges. ROVs
and AUVs are extensively being used for research in the fields of
hydrography and oceanography, as they have more capabilities than
weather buoys and cost lesser than weather ships and research vessels.

Oceanographers are increasingly opting for unmanned operations to
conduct hydrographic surveys as they help reduce costs and increase
safety. They have the capability to monitor pipelines and support
maintenance and repair work through the data collection.

Browse Related Reports:

Become a Technavio
Insights member and access all three of these reports for a
fraction of their original cost. As a Technavio Insights member, you
will have immediate access to new reports as they’re published in
addition to all 6,000+ existing reports covering segments like automation.
This subscription nets you thousands in savings, while staying connected
to Technavio’s constant transforming research library, helping you make
informed business decisions more efficiently.

About Technavio

Technavio
is a leading global technology research and advisory company. The
company develops over 2000 pieces of research every year, covering more
than 500 technologies across 80 countries. Technavio has about 300
analysts globally who specialize in customized consulting and business
research assignments across the latest leading edge technologies.

Technavio analysts employ primary as well as secondary research
techniques to ascertain the size and vendor landscape in a range of
markets. Analysts obtain information using a combination of bottom-up
and top-down approaches, besides using in-house market modeling tools
and proprietary databases. They corroborate this data with the data
obtained from various market participants and stakeholders across the
value chain, including vendors, service providers, distributors,
re-sellers, and end-users.

If you are interested in more information, please contact our media team
at [email protected].

Contacts

Technavio Research
Jesse Maida
Media & Marketing Executive
US:
+1 630 333 9501
UK: +44 208 123 1770
www.technavio.com