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 defense, and BFSI have adopted cyber security solutions mainly due to increasing cybercrimes.

The global underwater security market is segmented on the basis of geography, service, end user, and the solution provided. By service, the global underwater security market is classified into consulting, risk and threat assessment, training and education, system design and integration, and managed security services. Small and medium enterprises and corporations are the major end users of the global underwater security market.

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Middle East and Africa Regional Market Registering Maximum Demand

By geography, the global underwater security market is divided into Asia Pacific, North America, Europe, and Rest of the World. The demand for underwater security services is higher in areas where there are a plenty of relevant products and services. The Middle East and Africa region registered maximum demand for underwater security solutions in 2014, followed by the Asia Pacific region. Demand for underwater security solutions from North American countries has registered steady growth in the recent past. Demand from Canada and the U.S. has shown a steady rise due to their offshore defense and oil installations consisting of telecommunication equipment and oil wells.

Cisco Systems, Inc., International Business Machines (IBM) Corporation, Lockheed Martin Corporation, Thales Group, and Computer Science Corporation are some of the leading companies operating in the global underwater security market. These leading players are predicted to face intense competition from some of the emerging players during the forecast period. Innovation in underwater security systems and solutions is expected to propel the global underwater security market during the forecast period.

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