GLOBAL UNDERWATER MONITORING SYSTEM MARKET FOR OIL AND GAS INSIGHTS AND FORECAST
Underwater Monitoring system is a distributed and modular system that utilizes various components to cover underwater surveillance of large areas. It consists of a variable number of sensors, vehicles and communication technology that are deployed to perform collaborative monitoring tasks over a given area. Due to the fact that underwater autonomous technologies such as AUVs are new oil and gas industry trends. Oil and gas supplier around the globe are not aware about benefits that can be gained by adopting deepwater drilling and offshore engineering into their business processes. Technological uncertainties and subsequent risks as water rapidly absorbs electromagnetic radiation waves, making communication systems ineffective and inefficacious. In addition, aquatic environments also create challenges for autonomous underwater vehicles used for oil and gas research. To achieve this objective, sensors and vehicles self-organize in an autonomous network which can adapt to the characteristics of the ocean environment. Autonomous underwater vehicles are used for underwater drill which helps in monitoring of sea water to maintain its quality. Government bodies such as the U.S. Environmental Protection Agency (EPA) has implemented regulation related to the quality of sea water to be used, this could affect the demand for autonomous underwater vehicles over the forecast period for the offshore market.
1. Inspection and monitoring: The monitoring and maintenance of these facilities provides a significant role in the country’s economic progress. The need to monitor underwater oil rig or the deep water oil rig reserves is primarily driving the global underwater monitoring systems for the oil and gas market
2. Autonomous systems: Collecting data from underwater sensor networks can be challenging and expensive, hence mobile autonomous underwater vehicles (AUV) equipped with an acoustic modem to gather data from the sensors provides the solutions for this problem. Mobile autonomous underwater vehicle (AUV) equipped with an acoustic modem to gather data from the sensors
3. Predictive maintenance: Underwater monitoring systems enable predictive maintenance which reduces overall cost of the maintenance by realizing a potential breakdown. With this, production increases as downtime gets lowered and frequent replacement of supply chain components is avoided. More and more oil and gas organizations will adopt underwater monitoring systems to avoid fatal failures
Global Underwater System for Oil and Gas Market Insights:
The global underwater system market for oil and gas is analyzed to grow a rapid rate from US$ 680.1 Million in 2019 to $988.8 Million in 2025 at a CAGR of 6.5%. Lack of human capabilities to monitor deep-water pipelines, need to maintain water quality and ever growing demand of energy requires high productivity are some of the factors driving growth of the global underwater system for the oil and gas market. APAC to have the largest market share of the global underwater system for the oil and gas market owing to growing adoption of autonomous underwater vehicles. Collecting data from underwater sensor networks can be challenging and expensive, hence mobile autonomous underwater vehicles (AUV) equipped with an acoustic modem to gather data from the sensors provide the solutions for this problem. Mobile autonomous underwater vehicle (AUV) equipped with an acoustic modem to gather data from the sensors.