Underwater robotics is used for scientific exploration, search and rescue, environmental cleanup and military applications. According to a new report from TechNavio titled, "Global Underwater Robotics Market 2012-2016," the market is forecasted to grow at a compound annual growth rate (CAGR) of 6.77 percent in the four-year period from 2012 to 2016. The report highlights emerging technology in the field and some of the limitations that could hinder the growth in the market.
According to the report, one of the biggest factors in driving this market is the future of undersea mining. In order to retrieve these assets the industry has been developing smart underwater robots capable of performing many tasks. Although undersea mining is a huge potential, limitations in technology such as underwater communications can slow the growth in the market. The regions covered in the report include the Americas, EMEA and APAC, as well as the global market.
The analysis is based on input from industry experts and some of the leading companies in the field. The results are based on primary research from interviews from customers, industry experts, resellers and vendors. The secondary research is from analyst reports, company ports, data from government agencies, industry publications, news articles, trade associations and Technavios's Platform.
The leading players in the analysis include Atlas Maridan ApS, Bluefin Corp. and Deep Ocean Engineering Inc. Additional vendors in the report include: ECA Hytec SA, Inuktun Services Ltd., International Submarine Engineering Ltd., MacArtney Group, NeuroRobotics Ltd., Oceaneering International Inc., Perry Slingsby Systems Ltd., Schilling Robotics Inc. and Soil Machine Dynamics Ltd.
The report looked at the landscape and size of the market to forecast its future, taking into account surface and underwater examination, defense and security, commercial application and scientific applications.
The future of underwater robotics depends on the investments companies make in new technology. Underwater exploration faces many different technological hurdles and one of them is the power limitation of the robotic devices. Bluefin Robotics has come up with a solution for this problem by creating a docking station underwater for charging the batteries of these robots. With this technology underwater robots will be able to work for months at a time instead of the current 24-hour limitation.
Edited by Alisen Downey
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