The Future of Offshore ROVs: Market Dynamics and Forecast to 2030
The offshore ROV market was estimated at USD 754.14 million in 2022 and is likely to grow at a CAGR of 4.12% during 2023-2028 to reach USD 967.56 million in 2028.
Offshore ROVs are remote control vehicles that are used as electronic devices which are tethered underwater. These devices are unoccupied and are operated by a crew on a proximate land. These devices are usually common in offshore hydrocarbon extraction processes.