The installation of heavy cables for establishing high-speed communication between the remote source and surface had its own demerits in terms of cost and durability. This triggered the necessity for underwater wireless communication. Underwater wireless communication networks are being increasingly deployed across the world, owing to their ability to provide support and differentiated services for several applications, including surveillance and real-time monitoring for pollution, environment, ocean current, and climate.
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Governments worldwide are pouring funds into the development and improvement of communication infrastructure. This is, in turn, working in favor of the global underwater wireless communication market. These networks are used across different verticals, including oil and gas, marine, and military and defense. The military and defense segment will account for a large share in the market, thanks to the increasing investments by governments in the defense sector. Oil and gas will also be a prominent revenue contributor in the market. The growth of the segment can be attributed to the increasing onshore and offshore exploration activities. The marine segment is expected to register healthy growth during the review period.
The global underwater wireless communication market holds immense potential and therefore, an influx of new players is expected, intensifying the competition in the near future. Mergers and collaborations are among the commonly adopted strategies by large players to expand their product and service portfolio and enhance their visibility in the market.