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Stock impact report

Offshore AUV & ROV Market Analysis and Forecast Report, 2018-2030 - CAGR of 10.18% Projected for 2025-2030 - Growth Driven by Renewable Energy Opportunities in Offshore Wind Farm Maintenan...

Coda Octopus Group, Inc. - Common stock (CODA) 
US:NASDAQ Investor Relations: codaoctopusgroup.com
Company Research Source: Yahoo! Finance
- Global Forecast 2025-2030" report has been added to ResearchAndMarkets.com's offering. The Offshore AUV & ROV Market grew from USD 1.39 billion in 2023 to USD 1.53 billion in 2024. It is expected to continue growing at a CAGR of 10.18%, reaching USD 2.75 billion by 2030. Market growth is primarily driven by the increasing offshore oil & gas activities, rising naval defense budgets, and advancements in sensor technologies, which improve underwater vehicle functionalities and capabilities. Emerging opportunities exist in renewable energy, notably for offshore wind farms, where maintenance and inspection require reliable underwater technologies. Challenges for the market lie in high operational costs and technical complexities, like real-time data processing and navigation in cluttered environments. To navigate these challenges, areas for innovation include development of energy-efficient propulsion systems, advanced AI for better decision-making in unstructured environments, and Show less Read more
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