Artificial Intelligence (AI) in Ocean Exploration Market Size, Share, Analysis 2031

Report Description

The global Artificial Intelligence (AI) in Ocean Exploration Market size was USD XX Million in 2022 and is likely to reach USD XX Million by 2031, expanding at a CAGR of XX% during 2023–2031. Rising ocean exploration activities and growing advances in underwater technology are projected to drive the market.

Growing exploration of ocean fields for locating various minerals, oils, and other valuable resources is projected to drive the demand for AI-powered ocean exploration machines. The combined power of humans and AI-enabled tools is projected to enhance various underwater operations, there by, improving outcomes of sea exploration activities. Advancements in AI technology are resulting in their growing adoption in exploration technology solutions, thus, generating further growth opportunities in the market.

• In May 2023,Shell, a British Oil & Gas MNC, collaborated with Spark Cognition, anAI software development company to integrate AI solutions in ocean exploration activities. The move is aimed at enhancing oil & gas exploration and production, boosting offshore oil output with the use of SparkCognition’sAI-based technology.

Get Free Sample Report

Oceans across the globe cover more than 70% of the earth. This indicates the possibility of locating various useful resources including oil, minerals, rare elements, and others under the seabed. This can be achieved through innovative and efficient real-time monitoring and analysis technology. The visual data collected from ocean exploration by computer vision technology can provide several advantages such as identifying resource reserves, understanding the ocean and life forms in it, tracking the impact of changes in the ocean on global weather conditions, and plenty of others.

• According to the US National Oceanic and Atmospheric Administration (NOAA) Ocean Exploration, as of 2023, globally 24% of the seafloor is mapped with modern technology such as multibeam sonar systems. Seafloor mapping can enhance human understanding of the physical, biological, geological, chemical,and archaeological aspects of the ocean. AI technology is expected to play a key role in sea mapping and exploration activities, thereby propelling the market.

The research report finds that the COVID-19 pandemic affected the Artificial Intelligence (AI) in Ocean Exploration Market. As the lockdowns were imposed by several governments in their respective nations to curb the virus spread, activities such as mining, exploration, manufacturing, and others were either suspended or operating with a limited workforce. This, in turn, slowed the development of AI solutions designated for ocean exploration purposes, as the demand for machines and tools declined.

• According to a research article published in February 2023 by the American Meteorological Society (AMS), titled “Effects of the Pandemic on Observing the Global Ocean,”the COVID-19 pandemic did not affect short-term observation of the ocean conditions as autonomous platforms continued their study operations. However, the long-term (years to decade) observations were affected, which impaired the monitoring of ocean carbon and the state of the deep ocean.

Artificial Intelligence (AI) in Ocean Exploration Market Dynamics

Get Free Sample Report

Major Drivers

Growing demand for intelligent deep sea exploration robots is projected to drive the market. These underwater robotics tools can reduce the efforts required by humans in sea exploration operations, which saves resources and provides safety to human explorers. The AI-powered robots can provide efficient visual data and can reach difficult-to-reach places in ocean depths.

The involvement of humans in directing robots can be minimized with the dynamic decision-making ability of AI, based on real-time learning and processing further with past learning. Another advantage of autonomous robots in sea exploration is they can work much longer duration underwater, which provides significant visual data to be used for analyzing the contents and properties of the target area in the ocean.

• In July 2022, Stanford University unveiled its humanoid robot developed for virtual deep sea exploration, OceanOneK. This robot has the ability to reach and study the ocean in a way that cannot be performed by humans. The operators of this 3D vision robot can feel as such that they are themselves doing the tasks underwater.

Growing seabed mining activities are projected to further increase the demand for AI solutions in ocean exploration. As the oceans cover most of the earth, they have significant reserves of various minerals including critical metals cobalt, manganese, tellurium,and rare earth elements (REE). The most common marine mining activities are oil and gas extraction, dredging, deep-sea mining, and marine diamond mining. Growing demand for various metal and sea resources across industrial sectors is projected to boost sea exploration activities, thereby, further increasing the use of AI solutions for efficiently and seamlessly carrying undersea operations.

Existing Restraints

High costs, gaps in interpretability, and physical restrictions are likely to restrain the market. The initial investment required for AI solutions for deep sea exploration can be significant, which can limit their demand. Moreover, solutions for sea exploration such as intelligent underwater robots, smart remote sensing technologies, and intelligent sensor networking technologies can be highly efficient. However, the data interpreted can sometimes be contrasting or insufficient, therefore, requiring further exploration operations. As oceans are vast, there can be several physical aspects that can hinder the operations of AI solutions or even damage these tools. Such factors are likely to impact the growth of the market.

Emerging Opportunities

Growing investment in ocean research technologies is expected to create substantial opportunities in the market. Oceans, with their largeness, impact several aspects of life and environment on the earth. A better understanding of their health, changes, oceanic life, and several other factors enables predicting environmental changes, natural disasters, and other factors. This, not only saves damage to resources but also prevents loss of life.

AI can enhance research procedures enormously by consistently collecting data, providing its own interpretation, and facilitating rapid decision-making. Advances in AI and the emergence of different gadgets and tools with this technology are expected to make way for independent ocean explorers as well, leading to a vast understanding of oceanography.

Scope of the Artificial Intelligence (AI) in Ocean Exploration Market Report

The global market research report includes an assessment of the market trends, market segments, and regional markets. Overview and dynamics have also been included in the report.

Market Segment Insights

Technology Analysis

Based on technology, the Artificial Intelligence (AI) in Ocean Exploration Market is divided into Machine Learning, Computer Vision, Deep Learning, Pattern Recognition, and Others.The Computer Vision segment is expected to expand at a strong growth rate during the projection period,owing to increased development and launches of unmanned underwater vehicles (UUVs) and autonomous underwater vehicles (AUVs).

Computer vision enables efficient and accurate visual monitoring. AI-enabled intelligent robots with 3D computer vision are being used for detecting minerals and metals under the seabed. These technologies are also essential in studying sea habitat and changes occurring in the targeted area.

Get Free Sample Report

The deep learning segment is projected to expand at a significant CAGR with a growing focus on analyzing the ocean and its resources from huge data collected underwater. The data gathered from cameras, acoustic recorders, sensors, and other equipment can be combined and accurately investigated with deep learning software solutions.

• FathomNet, an open-source visual database uses cutting-edge algorithms to analyze images and videos gathered from oceans. AI and machine learning are being leveraged to speed up the analysis of underwater imagery, aiding in fast-tracking important research related to the health of the oceans. FathomNet is developed with collaborative efforts between Monterey Bay Aquarium Research Institute (MBARI) and other research institutes.

Component Analysis

On the basis of component, the global market is bifurcated into Software & Services and Hardware. The hardware segment is further classified as sensors, robots, navigation systems, communication devices, camera systems, and others.The software & services segment is projected to register a considerable CAGR during the forecast period, with growing advances in AI facilitating the development of various solutions for ocean exploration. The rising study of oceanography is likely to further expand the use of independently made AI software and cloud software services to analyze huge datasets.

The hardware segment is projected to grow at a substantial growth rate in the coming years, owing to the expanding use of intelligent robotics solutions for monitoring underwater sea surfaces. Companies in the oil & gas and mining industry are likely to benefit from smart hardware solutions in ocean exploration operations for detecting mineral reserves. Intelligent hardware has the advantage of monitoring longer periods under the sea, reaching areas where humans cannot reach, and generating real-time data.

Application Analysis

Based on application, Artificial Intelligence (AI) in Ocean Exploration Market is segmented into research & exploration, model deep-sea resources, monitoring, predicting ocean parameters, and others.The monitoring segment is expected to register a robust growth rate during the forecast period, owing to the growing emphasis on studying oceans in order to detect resources and understand weather changes. AI monitoring solutions are projected to enhance understanding of ocean ecosystems AI-integrated marine monitoring solutions enable longer deep dives, providing a better and deeper understanding of marine life and underwater environments.

Get Free Sample Report

End-use Industry Analysis

On the basis of end-use industry, the global market is segregated into military & defense, oil & gas, mining,construction, and scientific research & exploration organizations.The oil & gas segment is projected to register a considerable CAGR during the forecast period,owing to the growing activity of locating potential oil & gas deposits in the deep sea levels.

The onshore and offshore drilling activities are expanding with time from this industry, owing to rising energy demands. Growing focus of various governments across the world to explore oceans to meet energy needs is likely to further propel the demand for AI solutions from the oil & gas industry. The focused approach made possible by AI systems allows O & G companies to save costs and time, minimize ecological impact, and increase productivity.

Regional Outlook

In terms of region, the global Artificial Intelligence (AI) in Ocean Exploration Market is classified as Asia Pacific, North America, Latin America, Europe, and Middle East & Africa. North America is expected to dominate the market during the projection period,owing to the growing development and adoption of cutting-edge AI solutions for deep-sea exploration. The use of intelligent robots, advanced sensing technologies, and 3D cameras is projected to expand in the coming years. Governments and private organizations are looking to solve energy, food, and environmental concerns through ocean exploration, which is likely to support the market in this region.

Get Free Sample Report

The market in Asia Pacific is projected to grow rapidly during the forecast period. The key drivers of this region’s market are the rising exploration of the ocean for oil & gas, metals, rare earth elements, and minerals. Oceans are an important part of various economies in the region, as they play a crucial role in food security, weather changes, and the defense sector. Governments of major economies of the region such as India, China, and Japan are consistently upgrading their ocean exploration technologies for improved weather understanding, energy exploration, research, mining, and identifying fuel reserves.

• According to news reports in July 2023, China’s first ultradeep water research drillship is likely to be delivered in 2024. The system is under construction and is designed to collect samples at depths of more than 10 thousand meters, according to the builder of the vessel Huangpu Wenchong Shipbuilding Co,