London, 10 December 2014: TechNavio, the independent tech-focused global research firm, has published a report on the Global Hydrographic Equipment Market 2015-2019, which is expected to grow at a CAGR of 2.95 percent during 2014-2019.
Hydrographic equipment is widely used in tracing offshore oil and gas reserves. Demand for hydrographic equipment has increased because of increased demand for oil and gas. Many governments have shifted their focus toward exploration of unconventional gas and deep sea reserves.
“Key market players have started various innovative mechanisms to deploy multi-purpose data collection instruments and systems,” says Faisal Ghaus, Vice President of TechNavio.
“This has made hydrographic surveys highly cost-effective. The industry is widely adopting multi-data collection instruments and systems that provide precise information about the health of oil wells and geological characteristics of the terrain.”
Key Market Drivers
- Growing Need for Energy Security
- High Crude Oil Prices
- Increased Demand for Nautical Charts
- Increased Need for Coastal Zone Management
Key Market Trends
- Increased Adoption of Multi-data Collection Instruments and Systems
- Increased Popularity of Online Business Activities
- Rapid Advances in Technology
Key Market Vendors
- Atlas Electronik GmbH
- Kongsberg Maritime AS
- Teledyne Marine
To define the market circumstances in the next 3-4 years, TechNavio analysts have conducted in-depth analysis of the impact of market drivers, challenges and trends featuring data on product segmentations, vendor shares, growth rate by revenue and an evaluation of the different buying criteria in the order of importance.
https://www.technavio.com/%3Cp%3EIf%20you%20are%20interested%20in%20more%…
