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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

1. Increasing deep-sea oil and gas finds are driving up the number of deep-sea rigs.
2. Work-class ROVs supporting these rigs are seeing nearlyXpercent growth.
3. Significant opportunities exist for other participants amid skewed supply and demand.
4. 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.
5. By 2018, AUV software is expected to become a billion-dollar industry with very few participants.

What are Mega Trends and Micro Booms?

Mega Trends
Mega Trends are global, sustained, and macroeconomic forces of development that impact businesses, economies, societies, cultures, and personal lives, thereby defining our future world and its increasing pace of change. The time frames for Mega Trends range from 10 to 15 years.

Micro Boom
Contributing to these Mega Trends are many smaller but compelling trends that are defined in a time frame of one year and can offer immediate opportunities for companies that know how to identify and capitalize on them. These trends are Micro Booms, and the Frost & Sullivan IPC team is highlighting a series of Micro Boom opportunities in 2012.

Micro Booms—What Will We Explore?

Business Insight: This segment answers the following questions:
• What is the market or business?
• Why invest in this business?
• Of which issues and challenges should I be aware?
• What is the current market state, and where is it headed?
• What are the critical attributes to success in this market?

Growth Insight: This segment answers the following questions:
• What is the market potential and its growth trajectory?
• How is the competitive landscape situated?
• Which are the pockets of growth opportunities?
• Which are the near-adjacent areas of opportunity of which solution providers can take advantage?

Profit Insight: This segment answers the following questions:
• What are my near-adjacent market opportunities?
• How should I package my products to achieve improved margins?
• What should be the go-to market and service strategy?

Definitions

ROV: Remotely operated underwater vehicles are tethered underwater vehicles that conduct extremely deep sea dives and perform functions ranging from maintenance, data collection, and repairs. They are equipped with video cameras and lights that send data to support vehicles and carry their own power supply.
ROVs can be used for various purposes including subsea surveillance, pipeline installation, trench digging, work-class maintenance, and construction activities. ROVs are differentiated by their weight, tools, and the materials used in their construction.

AUV: Autonomous underwater vehicles are robots which can travel underwater without input from an operator. AUVs are part of a larger group of undersea systems known as unmanned underwater vehicles and are a subgroup of ROVs.

ROV Maintenance: This term encompasses includes all the maintenance, retooling, and other support activities essential for all types of ROV.

ROV Software: This backend software performs the main tasks of ROVs, including vehicle-specific initialization, communicating with the host, reading sensor data, and running the control algorithm for the vehicle. This software might offer other enhanced functionalities, including remote asset monitoring.

Observation Class: These ROVs and AUVs primarily used for inspecting pipelines, leaks, and retrievals and other activities involving simple inspections. One lightweight ROV has different types of cameras to meet the needs of different tasks.

Drill Support: These ROVs are specifically designed to aid in deep sea drilling and excavation. They are used in activities involving development or production drilling in which ROVs are often the primary means of performing highly complex tasks.

Construction Support: These vessels are specifically designed to perform highly complex tasks in the construction of rigs. These large, bulky ROVs are complicated and difficult to pilot.

Pipeline Installation: These ROVs are used in installing pipelines and surveying pipelines for cracks and maintenance. They can utilize various components to build a pipeline along a specific route.

Work Class: These heavy-duty ROVs can meet all light and heavy demands in the sub-sea. They are equipped with manipulator arms, can perform inspections, and can handle heavy loads at the maximum depth.

Pipeline Trenchers: These ROVs aid in creating trenches to lay pipelines in the seabed. In a specific trenching mechanism, the ROV excavates soil from the seabed and inserts a pipeline into the newly made trench.

Table Of Contents

Automated Next Generation Deep-Sea Services: Smart ROV`s Create a Blue Ocean Market
Table of Contents

1. Executive Summary
2. CEO's 360 Degree Perspective
3. Mega Trends to Micro Booms
4. Market Overview
5. Business Insights
6. Growth Insights
7. Profit Insights
8. The Last Word
9. Appendix—Company Profiles
10. The Frost and Sullivan Story

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