Market Overview:
The global offshore remote monitoring solutions market is expected to grow at a CAGR of 5.5% during the forecast period from 2018 to 2030. The growth in this market can be attributed to the increasing demand for oil and gas, wind energy, and other applications across the globe. Additionally, the growing awareness about safety and security among end users is also propelling the growth of this market. On the basis of type, the global offshore remote monitoring solutions market can be segmented into service, equipment operation, and other segments. The service segment is expected to account for a major share of this market during the forecast period owing to its ability to provide real-time data transmission and support services round-the-clock. On the basis of application, this market can be divided into oil & gas industry, wind energy industry, marine transportation industry,,and others segments. The oil & gas industry is expected to dominate this market during th eforecast period owing t o th e increasing demand for oil an dgas acros s th e gl obe .Th e w ind en ergy indu stry i s expec ted t o gr ow at a high rate durin gth e forecas t per iod dueto th e increasin g deman d fo r renewabl es acros sth e gl obe .
Product Definition:
Offshore remote monitoring solutions are used to manage and monitor assets or operations located in offshore environments. These solutions can include a variety of tools, such as video cameras, sensors, and tracking devices, that allow operators to collect data and remotely control assets from a central location. Offshore remote monitoring solutions can be important for several reasons. They can help companies improve safety by allowing operators to respond quickly to issues or emergencies occurring offshore. They can also help companies save money by reducing the need for on-site personnel or equipment. Additionally, offshore remote monitoring solutions can help companies better understand their operations and improve performance over time.
Service:
Service is a function or an activity that is carried out for remuneration and the delivery of services comprises three elements, namely, performance (or result), process (or method) and price. Services can be classified on the basis of end-users into business services, ITEServices, telecommservices and others.
Equipment Operation:
Equipment operation is a method used to monitor the performance of subsea equipment such as flow, temperature, pressure and other parameters. It provides real-time data transmission from the subsea asset to surface systems for maintenance purposes.
Application Insights:
The oil & gas industry accounted for the largest revenue share of over 40% in 2017. The growth can be attributed to the rising demand for onshore and offshore assets, which require constant monitoring to ensure their proper functioning. Furthermore, technological advancements in equipment operation and data processing have led to an increase in demand for R&D services related to offshore operations.
Offshore wind energy is one of the fastest-growing industries globally due largely to its ability generate clean electricity with zero emissions that reduces pollution significantly contributing towards a sustainable future. Owing largely to its massive capacity expansion projects across various regions including Europe, North America and Asia Pacific that are projected over the next few years will fuel industry expansion further driving market growth over forecast period.
Moreover, growing concerns regarding greenhouse gas emissions coupled with increasing awareness about renewable energy sources such as solar.
Regional Analysis:
North America accounted for the largest revenue share in 2017. The region is expected to maintain its dominance over the forecast period owing to presence of a large number of oil and gas platforms, which are critical infrastructure and need continuous monitoring. Moreover, technological advancements such as wireless connectivity offered by remote monitoring solutions coupled with high adoption rate of latest technologies in offshore oilfields are some other factors driving growth in this region.
Asia Pacific offshore remote monitoring solution market is anticipated to grow at a lucrative CAGR during the forecast period due to increasing demand from wind energy industry for real-time data on wind turbine operations from different locations around the world. Furthermore, growing investments by governments across countries such as China and India towards development of renewable energy sources is expected drive growth over next eight years or so.
Growth Factors:
- Increasing demand for remote monitoring solutions from the process and discrete manufacturing industries to improve operational efficiency and reduce downtime.
- Proliferation of IIoT and Industry 4.0, which is driving the adoption of remote monitoring solutions for improved data collection, analysis, and decision-making.
- Growing demand for cloud-based remote monitoring solutions due to their scalability, flexibility, and cost-effectiveness.
- Rising number of cyberattacks on industrial control systems (ICS), which is increasing the need for robust security features in remote monitoring solutions.
Scope Of The Report
Report Attributes
Report Details
Report Title
Offshore Remote Monitoring Solutions Market Research Report
By Type
Service, Equipment Operation, Other
By Application
Oil & Gas Industry, Wind Energy Industry
By Companies
KFC Technologies, Fugro, BMT Group Ltd, Schlumberger Limited, HMS Networks, Deutsche Windtechnik, General Electric, Romax Technology, Strainstall, Siemens
Regions Covered
North America, Europe, APAC, Latin America, MEA
Base Year
2021
Historical Year
2019 to 2020 (Data from 2010 can be provided as per availability)
Forecast Year
2030
Number of Pages
131
Number of Tables & Figures
92
Customization Available
Yes, the report can be customized as per your need.
Global Offshore Remote Monitoring Solutions Market Report Segments:
The global Offshore Remote Monitoring Solutions market is segmented on the basis of:
Types
Service, Equipment Operation, Other
The product segment provides information about the market share of each product and the respective CAGR during the forecast period. It lays out information about the product pricing parameters, trends, and profits that provides in-depth insights of the market. Furthermore, it discusses latest product developments & innovation in the market.
Applications
Oil & Gas Industry, Wind Energy Industry
The application segment fragments various applications of the product and provides information on the market share and growth rate of each application segment. It discusses the potential future applications of the products and driving and restraining factors of each application segment.
Some of the companies that are profiled in this report are:
- KFC Technologies
- Fugro
- BMT Group Ltd
- Schlumberger Limited
- HMS Networks
- Deutsche Windtechnik
- General Electric
- Romax Technology
- Strainstall
- Siemens
Highlights of The Offshore Remote Monitoring Solutions Market Report:
- The market structure and projections for the coming years.
- Drivers, restraints, opportunities, and current trends of market.
- Historical data and forecast.
- Estimations for the forecast period 2030.
- Developments and trends in the market.
- By Type:
- Service
- Equipment Operation
- Other
- By Application:
- Oil & Gas Industry
- Wind Energy Industry
- Market scenario by region, sub-region, and country.
- Market share of the market players, company profiles, product specifications, SWOT analysis, and competitive landscape.
- Analysis regarding upstream raw materials, downstream demand, and current market dynamics.
- Government Policies, Macro & Micro economic factors are also included in the report.
We have studied the Offshore Remote Monitoring Solutions Market in 360 degrees via. both primary & secondary research methodologies. This helped us in building an understanding of the current market dynamics, supply-demand gap, pricing trends, product preferences, consumer patterns & so on. The findings were further validated through primary research with industry experts & opinion leaders across countries. The data is further compiled & validated through various market estimation & data validation methodologies. Further, we also have our in-house data forecasting model to predict market growth up to 2030.
Regional Analysis
- North America
- Europe
- Asia Pacific
- Middle East & Africa
- Latin America
Note: A country of choice can be added in the report at no extra cost. If more than one country needs to be added, the research quote will vary accordingly.
The geographical analysis part of the report provides information about the product sales in terms of volume and revenue in regions. It lays out potential opportunities for the new entrants, emerging players, and major players in the region. The regional analysis is done after considering the socio-economic factors and government regulations of the countries in the regions.
How you may use our products:
- Correctly Positioning New Products
- Market Entry Strategies
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- Consumer Insights
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- Product & Brand Management
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8 Reasons to Buy This Report
- Includes a Chapter on the Impact of COVID-19 Pandemic On the Market
- Report Prepared After Conducting Interviews with Industry Experts & Top Designates of the Companies in the Market
- Implemented Robust Methodology to Prepare the Report
- Includes Graphs, Statistics, Flowcharts, and Infographics to Save Time
- Industry Growth Insights Provides 24/5 Assistance Regarding the Doubts in the Report
- Provides Information About the Top-winning Strategies Implemented by Industry Players.
- In-depth Insights On the Market Drivers, Restraints, Opportunities, and Threats
- Customization of the Report Available
Frequently Asked Questions?
Offshore Remote Monitoring Solutions (ORMS) are a suite of software and services that allow organizations to monitor their offshore assets from a remote location. ORMS can provide real-time monitoring of critical systems, including energy, water, and environmental systems; security cameras; and communication networks. ORMS also provides historical data analysis for asset performance tracking and troubleshooting purposes.
Some of the major companies in the offshore remote monitoring solutions market are KFC Technologies, Fugro, BMT Group Ltd, Schlumberger Limited, HMS Networks, Deutsche Windtechnik, General Electric, Romax Technology, Strainstall, Siemens.
The offshore remote monitoring solutions market is expected to register a CAGR of 5.5%.
Chapter 1 Executive Summary
Chapter 2 Assumptions and Acronyms Used
Chapter 3 Research Methodology
Chapter 4 Offshore Remote Monitoring Solutions Market Overview
4.1 Introduction
4.1.1 Market Taxonomy
4.1.2 Market Definition
4.1.3 Macro-Economic Factors Impacting the Market Growth
4.2 Offshore Remote Monitoring Solutions Market Dynamics
4.2.1 Market Drivers
4.2.2 Market Restraints
4.2.3 Market Opportunity
4.3 Offshore Remote Monitoring Solutions Market - Supply Chain Analysis
4.3.1 List of Key Suppliers
4.3.2 List of Key Distributors
4.3.3 List of Key Consumers
4.4 Key Forces Shaping the Offshore Remote Monitoring Solutions Market
4.4.1 Bargaining Power of Suppliers
4.4.2 Bargaining Power of Buyers
4.4.3 Threat of Substitution
4.4.4 Threat of New Entrants
4.4.5 Competitive Rivalry
4.5 Global Offshore Remote Monitoring Solutions Market Size & Forecast, 2018-2028
4.5.1 Offshore Remote Monitoring Solutions Market Size and Y-o-Y Growth
4.5.2 Offshore Remote Monitoring Solutions Market Absolute $ Opportunity
Chapter 5 Global Offshore Remote Monitoring Solutions Market Analysis and Forecast by Type
5.1 Introduction
5.1.1 Key Market Trends & Growth Opportunities by Type
5.1.2 Basis Point Share (BPS) Analysis by Type
5.1.3 Absolute $ Opportunity Assessment by Type
5.2 Offshore Remote Monitoring Solutions Market Size Forecast by Type
5.2.1 Service
5.2.2 Equipment Operation
5.2.3 Other
5.3 Market Attractiveness Analysis by Type
Chapter 6 Global Offshore Remote Monitoring Solutions Market Analysis and Forecast by Applications
6.1 Introduction
6.1.1 Key Market Trends & Growth Opportunities by Applications
6.1.2 Basis Point Share (BPS) Analysis by Applications
6.1.3 Absolute $ Opportunity Assessment by Applications
6.2 Offshore Remote Monitoring Solutions Market Size Forecast by Applications
6.2.1 Oil & Gas Industry
6.2.2 Wind Energy Industry
6.3 Market Attractiveness Analysis by Applications
Chapter 7 Global Offshore Remote Monitoring Solutions Market Analysis and Forecast by Region
7.1 Introduction
7.1.1 Key Market Trends & Growth Opportunities by Region
7.1.2 Basis Point Share (BPS) Analysis by Region
7.1.3 Absolute $ Opportunity Assessment by Region
7.2 Offshore Remote Monitoring Solutions Market Size Forecast by Region
7.2.1 North America
7.2.2 Europe
7.2.3 Asia Pacific
7.2.4 Latin America
7.2.5 Middle East & Africa (MEA)
7.3 Market Attractiveness Analysis by Region
Chapter 8 Coronavirus Disease (COVID-19) Impact
8.1 Introduction
8.2 Current & Future Impact Analysis
8.3 Economic Impact Analysis
8.4 Government Policies
8.5 Investment Scenario
Chapter 9 North America Offshore Remote Monitoring Solutions Analysis and Forecast
9.1 Introduction
9.2 North America Offshore Remote Monitoring Solutions Market Size Forecast by Country
9.2.1 U.S.
9.2.2 Canada
9.3 Basis Point Share (BPS) Analysis by Country
9.4 Absolute $ Opportunity Assessment by Country
9.5 Market Attractiveness Analysis by Country
9.6 North America Offshore Remote Monitoring Solutions Market Size Forecast by Type
9.6.1 Service
9.6.2 Equipment Operation
9.6.3 Other
9.7 Basis Point Share (BPS) Analysis by Type
9.8 Absolute $ Opportunity Assessment by Type
9.9 Market Attractiveness Analysis by Type
9.10 North America Offshore Remote Monitoring Solutions Market Size Forecast by Applications
9.10.1 Oil & Gas Industry
9.10.2 Wind Energy Industry
9.11 Basis Point Share (BPS) Analysis by Applications
9.12 Absolute $ Opportunity Assessment by Applications
9.13 Market Attractiveness Analysis by Applications
Chapter 10 Europe Offshore Remote Monitoring Solutions Analysis and Forecast
10.1 Introduction
10.2 Europe Offshore Remote Monitoring Solutions Market Size Forecast by Country
10.2.1 Germany
10.2.2 France
10.2.3 Italy
10.2.4 U.K.
10.2.5 Spain
10.2.6 Russia
10.2.7 Rest of Europe
10.3 Basis Point Share (BPS) Analysis by Country
10.4 Absolute $ Opportunity Assessment by Country
10.5 Market Attractiveness Analysis by Country
10.6 Europe Offshore Remote Monitoring Solutions Market Size Forecast by Type
10.6.1 Service
10.6.2 Equipment Operation
10.6.3 Other
10.7 Basis Point Share (BPS) Analysis by Type
10.8 Absolute $ Opportunity Assessment by Type
10.9 Market Attractiveness Analysis by Type
10.10 Europe Offshore Remote Monitoring Solutions Market Size Forecast by Applications
10.10.1 Oil & Gas Industry
10.10.2 Wind Energy Industry
10.11 Basis Point Share (BPS) Analysis by Applications
10.12 Absolute $ Opportunity Assessment by Applications
10.13 Market Attractiveness Analysis by Applications
Chapter 11 Asia Pacific Offshore Remote Monitoring Solutions Analysis and Forecast
11.1 Introduction
11.2 Asia Pacific Offshore Remote Monitoring Solutions Market Size Forecast by Country
11.2.1 China
11.2.2 Japan
11.2.3 South Korea
11.2.4 India
11.2.5 Australia
11.2.6 South East Asia (SEA)
11.2.7 Rest of Asia Pacific (APAC)
11.3 Basis Point Share (BPS) Analysis by Country
11.4 Absolute $ Opportunity Assessment by Country
11.5 Market Attractiveness Analysis by Country
11.6 Asia Pacific Offshore Remote Monitoring Solutions Market Size Forecast by Type
11.6.1 Service
11.6.2 Equipment Operation
11.6.3 Other
11.7 Basis Point Share (BPS) Analysis by Type
11.8 Absolute $ Opportunity Assessment by Type
11.9 Market Attractiveness Analysis by Type
11.10 Asia Pacific Offshore Remote Monitoring Solutions Market Size Forecast by Applications
11.10.1 Oil & Gas Industry
11.10.2 Wind Energy Industry
11.11 Basis Point Share (BPS) Analysis by Applications
11.12 Absolute $ Opportunity Assessment by Applications
11.13 Market Attractiveness Analysis by Applications
Chapter 12 Latin America Offshore Remote Monitoring Solutions Analysis and Forecast
12.1 Introduction
12.2 Latin America Offshore Remote Monitoring Solutions Market Size Forecast by Country
12.2.1 Brazil
12.2.2 Mexico
12.2.3 Rest of Latin America (LATAM)
12.3 Basis Point Share (BPS) Analysis by Country
12.4 Absolute $ Opportunity Assessment by Country
12.5 Market Attractiveness Analysis by Country
12.6 Latin America Offshore Remote Monitoring Solutions Market Size Forecast by Type
12.6.1 Service
12.6.2 Equipment Operation
12.6.3 Other
12.7 Basis Point Share (BPS) Analysis by Type
12.8 Absolute $ Opportunity Assessment by Type
12.9 Market Attractiveness Analysis by Type
12.10 Latin America Offshore Remote Monitoring Solutions Market Size Forecast by Applications
12.10.1 Oil & Gas Industry
12.10.2 Wind Energy Industry
12.11 Basis Point Share (BPS) Analysis by Applications
12.12 Absolute $ Opportunity Assessment by Applications
12.13 Market Attractiveness Analysis by Applications
Chapter 13 Middle East & Africa (MEA) Offshore Remote Monitoring Solutions Analysis and Forecast
13.1 Introduction
13.2 Middle East & Africa (MEA) Offshore Remote Monitoring Solutions Market Size Forecast by Country
13.2.1 Saudi Arabia
13.2.2 South Africa
13.2.3 UAE
13.2.4 Rest of Middle East & Africa (MEA)
13.3 Basis Point Share (BPS) Analysis by Country
13.4 Absolute $ Opportunity Assessment by Country
13.5 Market Attractiveness Analysis by Country
13.6 Middle East & Africa (MEA) Offshore Remote Monitoring Solutions Market Size Forecast by Type
13.6.1 Service
13.6.2 Equipment Operation
13.6.3 Other
13.7 Basis Point Share (BPS) Analysis by Type
13.8 Absolute $ Opportunity Assessment by Type
13.9 Market Attractiveness Analysis by Type
13.10 Middle East & Africa (MEA) Offshore Remote Monitoring Solutions Market Size Forecast by Applications
13.10.1 Oil & Gas Industry
13.10.2 Wind Energy Industry
13.11 Basis Point Share (BPS) Analysis by Applications
13.12 Absolute $ Opportunity Assessment by Applications
13.13 Market Attractiveness Analysis by Applications
Chapter 14 Competition Landscape
14.1 Offshore Remote Monitoring Solutions Market: Competitive Dashboard
14.2 Global Offshore Remote Monitoring Solutions Market: Market Share Analysis, 2019
14.3 Company Profiles (Details – Overview, Financials, Developments, Strategy)
14.3.1 KFC Technologies
14.3.2 Fugro
14.3.3 BMT Group Ltd
14.3.4 Schlumberger Limited
14.3.5 HMS Networks
14.3.6 Deutsche Windtechnik
14.3.7 General Electric
14.3.8 Romax Technology
14.3.9 Strainstall
14.3.10 Siemens
