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

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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.

Table of Contents

Market OverviewMarket Overview—DefinitionsMarket Overview—Definitions (continued)Market Overview—Definitions (continued)Market Overview—SegmentationMarket Overview—Abbreviations and KeywordsBusiness InsightFirst Base—Business InsightsBy 2035, At Least 70.0 Percent of Conventional Oil Reserves will have to be Newly Discovered or DevelopedHigh Petrol Prices Driving Exploration and Rig ConstructionImportance of ROVs in the Value Chain—ROVs Incorporated into the Rig Supply ChainIncrease of 33.0 Percent in ROV DeploymentExplosion of Opportunities for Manufacturers Due to Increasing ROV PenetrationInsufficient Global Manufacturing Capacity Pointing to Opportunities for Other ParticipantsCompetitive Landscape Matrix—An Area Ripe for Other Participants to Capitalize OnGetting a Piece of the Action—Potential Strategies for SuccessGrowth InsightSecond Base—Growth InsightsWhat are AUVs? AUV Structure BreakdownEase of Interfacing With Land and Ability to Participate in Groups Driving Value for Oil and Gas ParticipantsPrimary Deployment Areas for AUVs Indicating a Primary Use for Data GatheringFrom Present to Future—New Sampling Strategies Expected to Make AUVs Integral to Oil and Gas ParticipantsROVs versus AUVs—Primary Differentiating FeaturesPresent Limitations on ROVs Pointing to New Technology as the Solution to Bridges Certain GapsBest of Both Worlds Scenario Driving Rapid Product Acceptance and DemandMarket Potential for Acceptance: Key Unmet Needs Fulfilled Only by the Integration of these TechnologiesKey Oil and Gas Demands: Automation Need of the FutureKey Oil and Gas Demands: Automation Need of the Future (continued)Total ROV Market Landscape—Lack of Automation Capabilities Throughout the SpectrumAUV Market Landscape—Lack of Work-class Capabilities Throughout the SpectrumPotential Strategies to Integration—Consolidation the Fastest Way to Combine ExpertiseProfit InsightThird Base—Profit InsightsThe Importance of Software—A Key Building Block of AUVsMarket Movement From Self-software Development to Third-party Software DevelopmentWhy this Change is Happening—Hardware Commoditization Driving Software DifferentiationA Software Company in the AUV/ROV Landscape—SeeByteEvolution of Dumb ROVs into Intelligent AUVs Addressing Key Needs of Oil and Gas CompaniesROV Software Predicted to Become Billion-dollar Industry by 2019Getting a Piece of the Action—Potential Strategies for SuccessThe Last WordThe Last Word—Three Big PredictionsLegal DisclaimerAppendixOceaneering International Inc.Canyon OffshoreFugro Subsea Services Ltd.Subsea7Bluefin RoboticsSeeByteKongsbergThe Frost & Sullivan StoryWho is Frost & SullivanWhat Makes Us UniqueTEAM MethodologyOur Global Footprint 40+ Offices

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