Underwater Security Market - Global Industry Analysis, Growth, Trends, Forecast 2020

Global energy demand is expected to rise by as much as 50 percent over the next 25 years. This combined with depletion of existing fossil fuel reserves will mean extensive exploration and production activities by the offshore oil and gas industry in the years to come. 75 percent of this increased requirement is expected to come from the developing world. Security provides industries the freedom to find, develop and manage assets and to deliver services and supplies without interference. Being secure is a result of having the correct strategy through innovative technology, supported by rigorous systems management. Even a simple standalone offshore well site’s risk assessment must consider type of fluids produced, well pressure, directional configuration, measured depth and vertical depth, water access, location, sub-surface safety valve, well maturity and reserves, damage containment, and possible collateral damage. There is a growing trend towards the use of remote control centers. These require continuous monitoring, with the concept of the digital field wholly dependent on guaranteed secure communications. Solution providers are expected to provide innovative cyber solutions at competitive prices by unifying the portfolios against bundled attacks.

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Some of the major forces driving this market are the rapid adoption of cloud-based services, wireless communication along with strict government mandates and increasing cyber crime threats across all industries. Hence, the implementation of cyber security solutions is increasing to combat the advanced and sophisticated threats created by professional adversaries. Also, cloud service providers and verticals such as aerospace and defense, energy, banking, financial services and insurance (BFSI), and utilities have adopted solutions for cyber security more readily...