Global Underwater Security Market: Adoption of Cloud-Based Services to Be the Major Driver

The worldwide demand for energy is predicted to increase by 50% in the coming 25 years. The rapid increase in demand for energy and reduction of existing fossil fuel reserves will result in extensive production activities in the offshore gas and oil industry in the coming years. 75% of this requirement is predicted to arrive from the developing nations from across the globe.

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Underwater security measures enable offshore rig operators to find and manage assets and deliver services without any interference. For instance, a risk assessment procedure for a small standalone offshore well should take into consideration the types of fluids produced in the well, directional configuration, well pressure, vertical depth, measured depth, water access, sub-surface safety valve, location, damage containment, and others. There is a growing demand for remote control centers, which require constant monitoring and control. Underwater security service providers are also predicted to offer innovative cyber solutions to adapt to the increasing digitization of the oil and gas industry.

Cloud-based Services to Drive Global Underwater Security Market

The global underwater security market is primarily driven by factors such as increasing usage of cloud-based services and wireless communication. The trend of using remote control centers is increasing across the globe. These control centers require continuous monitoring, thanks to the usage of a digital field dependent on secure communications. Solution providers in the underwater security market are predicted to offer innovative and effective cyber solutions in the coming years in order to keep up with the competition. One of the factors driving the global underwater security market is the increasing threat of cybercrime. Cloud service providers and other verticals such as energy, aerospace and...