Dublin, Nov. 11, 2021 (GLOBE NEWSWIRE) -- The "Underwater Acoustic Communication - Global Market Trajectory & Analytics" report has been added to ResearchAndMarkets.com's offering.
The global market for Underwater Acoustic Communication estimated at US$1.3 Billion in the year 2020, is projected to reach a revised size of US$2.4 Billion by 2026, growing at a CAGR of 10.2% over the analysis period.
Sensor Interface, one of the segments analyzed in the report, is projected to grow at a 9.4% CAGR to reach US$1 Billion by the end of the analysis period. This segment currently accounts for a 45.3% share of the global Underwater Acoustic Communication market.
Despite substantial decline in the short-term due to the ongoing COVID-19 pandemic, long-term prospects remain highly optimistic for underwater acoustic communication systems market. Robust focus on gaining insights into ocean depths for monitoring and controlling of commercial activities including underwater equipment dedicated to mineral and oil mineral extraction along with commercial fisheries and underwater pipelines, would potentially enhance the demand for underwater acoustic communication systems in post COVID-19 period.
Increasing adoption of unmanned and autonomous underwater vehicles (UUVs and AUVs) integrated with advanced acoustic sensors in monitoring and strategic applications related to surveillance and threat detection presents another major driver. UUVs and AUVs are mainly employed for natural undersea resource exploration projects and collection of vital data in missions associated with collaborative monitoring.
Long-term growth in the market would also be influenced by anticipated healthy demand for high-speed and reliable homeland security and defense communication. Growing relevance of acoustic communication in underwater exploration projects and in environmental protection applications also extends potential opportunities.
Acoustic systems are poised to grow in popularity over traditional technologies for seabed mapping and data collection; as pre-warning system for underwater earthquakes and tsunamis; and to monitor underwater pollution and habitat. Robust demand is anticipated for high-capacity, reliable underwater acoustic networks to support R&D efforts intended to address issues related to transmission of data signals across shallow water regions.
The market is expected to receive a notable boost from manufacturers` efforts to develop reliable communication solutions for underwater acoustic communication coupled with increasing focus on maritime research and availability of new solutions with sophisticated functions for enhanced communication within the underwater environment.
Continued advances in networking technologies and applications aid in sustaining the momentum in the underwater wireless communication ecosystem in the post COVID-19 period. Ongoing transition from wired to wireless communication holds significant potential for growth in the defense, oil & gas refineries and research sectors.
In the recent years, wireless communication has gained considerable penetration in the underwater environment, with 50-70% of end-users adopting the technology. The share of wireless technologies is anticipated to be in the range of 85% to 90% by 2025. Underwater wireless communication plays an important role in reducing underwater risks, improves productivity and efficiency and lowers energy consumption. By offering reliable and accurate data, the technique assists industries in making strategic decisions associated with product portfolios.
Key Topics Covered:
I. METHODOLOGY
II. EXECUTIVE SUMMARY
1. MARKET OVERVIEW
- Impact of COVID-19 Pandemic and Looming Global Recession: 2020 Marked as a Year of Disruption & Transformation
- COVID-19 Crisis Derails the Momentum in Underwater Acoustic Communication Market
- Despite Substantial Decline in the Short-Term, Long-Term Prospects Remain Optimistic
- Impact of Pandemic on Underwater Sound Levels
- Established Image as a Robust Platform for Sending & Receiving Messages Below the Water to Sustain Momentum in the Long-Term
- A Note on Modulation Methods
- Key Principles of Underwater Acoustic Communication
- Major Factors Impacting Underwater Acoustic Communication
- Types of Underwater Wireless Sensor Network Routing Topologies
- Key Applications of Underwater Wireless Sensor Network Technology
- Analysis by Interface Type
- Acoustic Modem: Largest & Fastest Growing Interface Type
- Sensor Interface Solutions Remain Relevant
- While Developed Regions Constitute Major Revenue Contributors, Developing Regions Emerge as Hot Spots for Future Growth
- Competitive Scenario
- Underwater Acoustic Communication: A Fragmented Marketplace
- Vendors Resort to M&A, Collaborations & Product Innovations to Gain Competitive Edge
- Recent Market Activity
2. FOCUS ON SELECT PLAYERS (Total 46 Featured)
- Aquatec Group Ltd
- BaltRobotics Sp.z.o.o.
- Dspcomm
- EvoLogics GmbH
- Gavial Holdings, Inc.
- Hydroacoustics, Inc.
- Kongsberg Maritime
- LinkQuest Inc.
- Mistral Security Inc.
- Nortek Security & Control LLC
- Sonardyne International LTD
- Teledyne Technologies Inc.
- Thales Group
- Ultra Electronics Ocean Systems
3. MARKET TRENDS & DRIVERS
- Scientific Research & Development: Major End-Use Segment
- Despite the Crushing Impact of COVID-19 Crisis, Oil & Gas Sector to Remain a Core Consumer
- Sluggish Tide in Oil & Gas Sector Niggles Market Momentum
- Critical Importance of Underwater Communication in Offshore Environments Augurs Well for Future Growth
- Acoustic Communication Streamlines Seismic Refraction & Reflection Techniques
- Military & Defense Emerges as Fastest Growing End-Use Sector
- Active as well as Passive Acoustic Devices Remain Relevant in Military Systems
- Fast Evolving Role of Unmanned Vessels Bodes Well
- Disruptions in Military Training and Defense Budget Cuts Amidst the Pandemic
- Emergence of Environment Monitoring as Mainstream Concept Enthuses Market
- Underwater Acoustic Communication Gains Traction in Climate Recording Applications
- Oceanography: Niche Application Segment
- Novel Opportunities Identified in Hydrography Survey Projects
- Acoustic Communication Comes to Fore to Streamline Pollution Monitoring Programs
- Robust Demand for Short- and Medium-Range Devices
- Acoustic Communication Steps In to Simplify Harbor Monitoring
- Acoustic Communication Gains Traction in Navigating Ships, Submersibles, & Oceanographic Equipment
- Rain Gauging Made Effective with Acoustic Communication Devices
- Acoustic Devices Enable Effective Communication between Scuba Divers
- Recent Technological Developments in Underwater Acoustic Communication
- Issues & Challenges
- Limited Data Transmission Speed
- Limited Frequency Band
4. GLOBAL MARKET PERSPECTIVE
III. REGIONAL MARKET ANALYSIS
IV. COMPETITION
For more information about this report visit https://www.researchandmarkets.com/r/of1git
