Underwater Wireless Communication (UWC) Market Size, Share, Growth, And Industry Growth By Type (Acoustic Communications, RF Communications, and Optical Communications), By Application (Military, Commercial, and Civil) Regional Forecast to 2028

REPORT OVERVIEW

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The global underwater wireless communication (UWC) market size is anticipated to be USD 898 million in 2022. The global COVID-19 pandemic has been unprecedented and staggering, with the UWC market experiencing lower-than-anticipated demand across all regions compared to pre-pandemic levels. As per our research, the market is projected to touch USD 1,677.4 million by 2028, exhibiting a CAGR of 9.3% during the forecast period. The sudden spike in CAGR is attributable to demand returning to pre-pandemic levels once the pandemic is over.

Underwater wireless communication is comparatively a new and emerging field in underwater communication technology. It is used in the marine application in quality and pollution monitoring, studying the ocean floors and gathering real-time data.

The installation of high cables has posed many challenges. The rising need for robust technology with limited human intervention has triggered the underwater communication market. The seashore and oil industries are adopting the technology for their commercial benefits. The rise in marine technology will boost underwater wireless communication.

COVID-19 Impact: Economic Disruption Resulted in Short-time Market Decline

COVID-19 posed a threat to the development of industries and industries suffered a loss in business due to sudden lockdowns and a decrease in market demands. The global priority shifted to supporting the heartcare infrastructure. The economy of the developed nation crashed and many organizations went bankrupt due to a lack of investments, However, as the normalization process has begun and with the increase in the demand for oil and gas and other commercial purposes the market is set to bounce back and recover from the pandemic loss and gain profits in the forecasted years.

LATEST TRENDS

"Continuous Developments and Innovations to Boost the Product Sale"

Underwater wireless communication has become important in marine applications and scientific research. Innovations and experiments are being carried out to improve the efficiency of the product and divers the application. Internet of underwater things (IoUT) witnessed an unparallel growth and the introduction of 5G will improve the data rate and existing infrastructure. A recent experiment and research carried out by scientists state the possibility of solar cells to improve underwater wireless communication with a higher data rate. High-tech technology is being incorporated and with continuous innovation, scientists are expecting to provide a solution to the present challenges.

Segmentation

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• By Type

Based on type, the market is divided into acoustic communications, RF communications and optical communications. The acoustic communications segment will capture the maximum market share through 2028.

• By Application

Based on the application, the market is divided into military, commercial and civil. Military applications will hold the major market share over 2022-2028.

DRIVING FACTORS

"Increase in the Deployment of Underwater Vehicle and Improved Communication Infrastructure to Accelerate the Product Sale"

The world leaders and superpowers are investing in underwater wireless communication owing to its ability to provide real-time monitoring, easy collection of data and expansion of the network. In the past decade, there has been a steady increase in the deployment of the underwater vehicle due to the growing demand for natural gas. The latest research shows that the increase in the consumerist demand for energy resources will expedite in the upcoming years. Underwater vehicle is used for mining data, marine research and exploration of new oil fields. It has immense importance in marine application and oceanography.

The 21^st century is marked as the era of information as all business operates based on real-time data. Government and private organizations have financed and embraced the adoption of the latest technological developments to improve the communication infrastructure of the country to keep up with globalization. All the nations exhibited their need to strengthen the defence of the country in context to the uncertainties arising due to the geopolitical tension. Underwater vehicle is extensively used in military operation, coastal security, intelligence and surveillance and marine warfare.  Moreover, the continuous effort to integrate the latest technology and develop secure underwater communication has propelled the growth of the underwater wireless communication market (UWC) size.

"Rise in Pollution Monitoring to Boost UWC Market Growth"

Ocean pollution is a major concern in the present years. There have been many instances in the past decade showing the harmful effects of underwater pollution caused by the conscious actions of mankind. Oil spilling, ocean mining and disposal of harmful substances are some of the factors contributing to the rising pollution. The latest study shows that the amount of oil spilt has exceeded 4.5 million tons. Not only does it degrade the environment but also affects human health. Underwater noise pollution is a globally recognized threat straining the aquatic ecosystem and depleting underwater resources. The underwater acoustic sensor network aids in pollution monitoring and identification of objects on the ocean floor. The data collected is transferred to the base station and it reports on the condition of the ocean and sends out early warming to prevent future catastrophic events. The rising efforts to maintain the ocean and gather real-time data without human intervention are driving the underwater wireless communication (UWC) market share.

RESTRAINING FACTORS

"High Power Consumption and Limited Speed of Data Transmission to Impede the Market Growth"

Underwater wireless communication is expensive and requires high power to function efficiently. Acoustic communication has limitations and challenges such as its slow nature compared to radio transmission, complications in transmission and delayed delivery rates. Moreover, the limited bandwidth results in the congestion of the acoustic channel. All these factors are restricting the underwater wireless communication (UWC) market growth.

REGIONAL INSIGHTS

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"North America to Dominate the Market due to Advanced Marine Technology. "

North America has the next-generation infrastructure to support the developments and research of the technology. The governments have taken initiatives to robust the communication network to strengthen the military and gather real-time data. North America has extensive uses of the underwater vehicle in intelligence and surveillance.  Moreover, the presence of key players and large investments propelling the growth of the underwater wireless communication (UWC) market in this region.

KEY INDUSTRY PLAYER

"Market Players Focus on New Product Launches to Strengthen Market Position"

Leading players in the market are adopting various strategies to expand their presence in the market. These include R&D investments and the launch of new, technologically-advanced products in the market. Some companies are also adopting strategies such as partnerships, mergers, and acquisitions to strengthen their market position.   

List of Market Players Profiled

• Konsberg Gruppen (Norway)
• Saab AB (Sweden)

• Teledyne Technologies (U.S.)
• Fugro (Netherlands)
• Ultra Electronics Maritime Systems (U.S.)
• Nortek AS (U.S.)
• Sonardyne (U.K.)
• Bruel and Kjaer (Denmark)
• China Great Wall Industry (China)
• DSPComm(Thailand )
• Subnero Pte LTd (Singapore)
• EvoLogics GmbH (German)
• Ocean Technology Systems (U.S.)
• RJE International, Inc (U.S.)
• Wilcoxon Sensing Technologies (U.S.)
• Benthowave Instrument Inc (Canada)

REPORT COVERAGE

This report covers the analysis of underwater wireless communication providing a comprehensive market insight focusing on the existing key players who would play a crucial role in the forecasting period. It also analyses based on segmentation, industrial developments, trends, growth, size, share, restraints and revenue. The report covers an overview of the latest driving factor in the industry, dominant region, latest innovations and opportunities.