The Underwater Wireless Communication market is estimated to witness a CAGR of 18.5% during the forecast period 2016-2022. The market is analyzed by interface platforms, applications, and regions. Transition to wireless communication could help to reduce the risks, cost, and improve the production. Real-time monitoring, surveillance, & detecting (earthquake and tsunami) are some of the key factors driving the market.
Underwater wireless communication network provides support and differentiated services for applications such as real-time monitoring, surveillance, communication tools for UAV and weather forecasting. With the increase in off-shore oil & gas industry, monitoring pollution in water environment, collection of data from the bottom of the sea, detection of new objects, and transmission of data between the ships have become crucial and require proper communication. Over the past two decades, heavy cables are being used to establish a high-speed communication channel between the remote source and the surface. This has got many shortcomings which include cost and durability. To overcome these problems, the necessity of underwater wireless communication is proving vital.
The major verticals covered in the report are oil & gas, military & defense, scientific research & development, and marine. Globally, the leading players of these verticals in the market are showing interest towards underwater wireless communication. The technology is already being incorporated and is used in all the major verticals. The offshore oil & gas industry in the underwater environment is set to be the leading vertical after military & defense. The market for scientific research & development and marine industry is expected to reach $1,008.8 million and $577.3 million, respectively by 2022.