Market Highlights
The global underwater robotics market research spans across North America, Europe, Asia-Pacific, and the rest of the world.
Underwater robots are capable of carrying torpedoes and missiles to submarines. Their robust and scalable design makes their operation easy and stealthy in seas and oceans. Remotely operated vehicles (ROVs) are primarily developed for military applications and are now used for deep-sea mining by the offshore oil & gas sector and other industries. Similarly, the adoption of autonomous underwater vehicle (AUV) technology has been rapid in recent years by the oceanographic research, defense, and offshore energy sectors. Underwater robots equipped with directed-energy weapons, hypersonic weapons, artificial intelligence, sensors, and other payloads can be operated remotely. These robots can sustain harsh sea environments for longer durations, which makes them suitable for use in underwater missions. In recent years, the demand for surveillance of oceans has increased owing to factors such as increasing microbial degradation of sediments in coastal regions and rising extraction of minerals, hydrocarbons, and seafood from the sea. Humans have largely exploited these resources, which has increased the need for surveillance of the sea and ocean. Underwater robots can be used for pipeline inspection, marine life observation, underwater repair, and environmental disaster assessment, which involves stationary observation.
The geographic analysis of the Smart Card Reader market Research has been conducted for North America, Europe, Asia-Pacific, and the rest of the world. North America dominated the global underwater robotics market in 2019 due to the presence of various companies in the region and high investments made by the military and defense agencies in underwater robotics. Furthermore, the increasing demand for the safety of individuals and for gathering useful insights from the oceans associated with minerals, archaeology, marine life, and intelligence are some of the key pointers on which the countries in the region are focused. However, the Asia-Pacific region is considered the fastest-growing market. It is projected to record the highest CAGR of 15.8% during the forecast period due to the increasing investments made by the countries in the region to strengthen their military forces.
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Companies Covered
The Key Companies in the Global Underwater Robotics Market include Atlas Maridan ApS. (Germany), Deep Ocean Engineering, Inc. (US), General Dynamics Mission Systems, Inc. (US), International Submarine Engineering Ltd. (Canada), ECA SA (France), Eddyfi (Canada), Oceaneering International, Inc. (US), Saab AB (Sweden), TechnipFMC plc (UK), and Soil Machine Dynamics Ltd. (UK).
Global Underwater Robotics Market: Segmentation
Global Underwater Robotics Market Research Report: Information by Type (Remotely Operated Vehicles [ROV] and Autonomous Underwater Vehicles [AUV]), Application (Commercial Exploration, Defense & Security, and Scientific Research), and Region.
The global underwater robotics market has been segmented on the basis of type, application, and region. Based on type, the underwater robotics market has been segmented as remotely operated vehicles (ROV) and autonomous underwater vehicles (AUV). The ROV segment holds a larger share based on type for the underwater robotics market due to the ROVs’ early adoption for various scientific, commercial, and military and defense applications. Additionally, ROVs are used in applications, such as hull inspection & cleaning, FPSO rigs, subsea structure inspection & work, the inspection of hydraulic dams and others, and in the oil & gas industry, which also drives the growth of the market.
Regional Analysis
Global Underwater Robotics Market, by region, has been segmented into North America, Europe, Asia-Pacific, and the rest of the world. North America dominated the global market valued at USD 792.7 million; the market is expected to register a CAGR of 12.7% during the forecast period. The market in Asia-Pacific is expected to register the highest CAGR of 15.8%.
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Market Research Future (MRFR), on the global smart card reader market, reveals that the market is poised to expand at a lucrative CAGR of 40.8% across the forecast period of 2018-2024 and touch a valuation of USD 79,000 million by 2024.The emerging trend of cashless transaction is identified as a major factor that is expected to propel the global Smart Card Reader Market.
Alongside, the convenience in making online payment is also aiding smart card reader in gaining popularity.
They offer an individual or businesses a secured and better payment options over traditional cash transactions.
These factors are likely to boost the smart card reader market.Get Free Sample Copy Report @ https://www.marketresearchfuture.com/sample_request/7659 Key Players PayPal Holdings, Inc., ID TECH, Gemalto NV, IOGEAR, Verifone Systems Inc., Ingenico Group, PAX Global Technology Limited, Advanced Card Systems Ltd., CHERRY, HP Inc., Stanley Global LLC., Square, Inc., Identive Group, Rocketek Electronics, and others.Segmental OutlineThe smart card reader market has been segmented by type, application, and technology.By type, the market has been segmented into contactless-based, interface based, and contact-based.
The contact-based segment of the market is expected expand at a CAGR of 40.6% during the assessment period and surpass a valuation of USD 2,290.03 million by 2024.
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