June 25, 2013 - via Reportlinker
NEW YORK, JUNE 25, 2013 — /PRNewswire/ --Reportlinker.com announces that a new market research report is available in its catalogue: Automated Next Generation Deep-Sea Services: Smart ROV`s Create a Blue Ocean Market
Integration of Technologies Poised to Open up a Billion Dollar Market The global oil demand has been increasing at a near constant rate and increasing deep-sea oil and gas finds are leading to more deep-sea rigs. A growing number of ROVs per rig has resulted in a nearly 33.0 percent increase in market size and opportunity. A skewed balance between supply and demand presents significant opportunities for new market participants. After the BP oil spill disaster of 2010, market demand shot up and ever since a widening gap between supply and demand has existed.
This study analyzes the changing rig owner needs, government mandates that contribute to increase in usage of remote operated underwater vehicles and the expected boom in the ROV market.
Executive Summary Business Insights The growth of the deep-sea share of global oil and gas finds creates unsustainable, critical short-term demand for work-class Remote Operated Underwater Vehicles (ROVs).
- Increasing deep-sea oil and gas finds are leading to more deep-sea rigs.
- A growing number of ROVs per rig has resulted in a nearly X percent increase in market size and opportunity.
- A skewed balance between supply and demand presents significant opportunities for new market participants.
Growth Insights Bringing together the intelligent capabilities of AUVs and the work-class functionalities of ROVs is expected to create a booming, new segment.
- The critical long-term demands of oil and gas companies can be met only by the automation of work-class ROVs to a major extent.
- Work-class ROVs with AUV features are expected to become the industry norm within the next three years. Profit Insights Software solutions for work-class AUVs will be an extremely high growth opportunity for both pure-play and automation vendors.
- Amid hardware commoditization, software is expected to become the key differentiating factor among ROVs and AUVs.
- By 2018, software solutions are expected to become a billion-dollar industry with few participants, pointing to significant opportunities of which both existing manufacturers and automation vendors can take advantage.
CEO's 360 Degree Perspective
- Increasing deep-sea oil and gas finds are driving up the number of deep-sea rigs.
- Work-class ROVs supporting these rigs are seeing nearly 33 percent growth.
- Significant opportunities exist for other participants amid skewed supply and demand.
- A machine that combines AUVs and ROVs and automates the key demands of oil and gas companies is the next critical need of oil and gas companies.
- By 2018, AUV software is expected to become a billion-dollar industry with very few participants.
External link: http://www.heraldonline.com/2013/06/25/4973807/automated-next-generation-deep.html