The global underwater wireless communication market is expected to grow at a significant CAGR during the forecast period (2024-2031). Several industries near the coast have deployed an underwater wireless communication network to provide support services for maritime applications. The demand for monitoring pollutants in the aquatic environment and identification of things under the sea has raised the scope of the underwater wireless communication market, owing to an increase in offshore oil and gas companies. Underwater wireless communication has a variety of uses in the aerospace and marine industries. Underwater wireless communication is a dependable source for high-level operational processes. Most firms prefer underwater wireless communication as it provides great throughput at little power.
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The cost and durability of installing heavy cables to create high-speed communication between the remote source and the surface have disadvantages, which in turn, is driving the demand for underwater wireless communication. Owing to their capacity of providing support and specialized services for a variety of applications, such as surveillance and real-time monitoring for pollution, environment, ocean currents, and climate, underwater wireless communication networks are becoming more widely deployed across the world. Governments all across the world are investing money into developing and improving marine communication infrastructure. As a result, the global underwater wireless communication market is expected to grow significantly during the forecast period. These networks are utilized in a variety of industries, such as oil and gas, maritime, and military and defense. As governments are increasing their investments in the defense industry, the military and defense segment is expected to account for a major share in the market. Oil and gas will also be prominent revenue holders in the market. The expanding onshore and offshore exploration efforts are supporting the growth of the segment.
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Market Coverage
- Segment Covered
- Regions Covered- Globally
Competitive Landscape: Kongsberg Gruppen ASA, Teledyne Technologies Inc., and Sonardyne Group Ltd., among others.
Key questions addressed by the report
- What is the market growth rate?
- Which segment and region dominates the market in base year?
- Which segment and region will project fastest growth in the market?
- How COVID-19 impacted the market?
o Recovery Timeline
o Deviation from pre-COVID forecast
o Most affected region and segment
- Who is the leader in the market?
- How players are addressing challenges to sustain growth?
- Where is the investment opportunity?
Global Underwater Wireless Communication Market Report Segmentation
By Technology
- Sensor Technology
- Vehicular Technology
By Application
- Environmental Monitoring
- Pollution Monitoring
- Ocean Current Monitoring
- Climate Recording
By End-User
- Oil and Gas
- Defense
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