Underwater Modems Market

The global Underwater Modems market was valued at USD 47.2 Million in 2020 and is projected to reach USD 119.39 Million by 2028, growing at a CAGR of 12.3% from 2021 to 2028.

The underwater modems are utilized to convey data wirelessly through the water. With the establishment of underwater modems, users can now communicate, navigate and monitor underwater. The adoption of this technology like Wi-Fi and GPS, under the water surface, has been made possible by the installation of underwater modems. Underwater acoustic information has low data rates due to the acoustic waves utilized for transmission preferably than the electromagnetic waves.

The global Underwater Modems market was valued at USD 47.2 Million in 2020 and is projected to reach USD 119.39 Million by 2028, growing at a CAGR of 12.3% from 2021 to 2028.

The global Underwater Modems market is segmented into product, application, regions, and countries. The regional segmentation covers current and forecasts demand on the basis of North America, Europe, Asia Pacific, Latin America, and Middle East & Africa. All the segments are analyzed on the basis of current and future trends. The report covers a complete evaluation of the market based on competition, drivers, restraints, opportunities, trends, and industry-authenticated data. The market is estimated from 2016 to 2020 and forecast from 2021 to 2028. 

Outbreak of COVID-19 led various countries impose strict lockdown measures during the initial stages of the pandemic. Numerous companies from different verticals faced challenges due to remote work environments. As a result, companies from various sectors switched to online/virtual platforms to maintain a steady flow in their daily business activities. Impact of COVID-19 on the market demand is considered while estimating the current and forecast market size and growth trends for all the regions and countries.

The report provides a completely separate chapter for COVID-19 Impact Analysis. This chapter includes:

o   Impact Assessment of COVID-19 Pandemic

o   Pre & Post COVID-19 Market Size

o   Qualitative analysis on the short term & long term impact of COVID-19 on the market

o   The analysis provides foremost strategies adopted by competitors to minimize the impact of the pandemic on their business activities and scope for future developments.

The increasing adoption of underwater acoustic modems in naval defense to maintain communication systems these systems are utilized submarine communications; diver communications; and remote underwater monitoring, command, and administration is driving the demand for underwater modems market.

The increasing research and development activities and experiments on underwater communications and networks is driving the growth of the underwater modems market.

Difficulty of multipath reflections which distort transmitted signals and high manufacturing costs is hindering the demand for underwater modems market.

Type  Analysis: Preview

On the basis of Type, the market is segmented into Short Range(1000m), Mid Range (2000m), Long Range (6000m). Performance tailored tougheners Coupling  held the highest share in 2020 and is expected to grow at a significant rate over the forecast period. This is attributed to the rising demand for the Performance tailored tougheners Coupling in developing countries such as China and India. Digitalization in Asia Pacific region has led to a surge in the usage of technology in various business processes over the past few years. Rising adoption of online platforms across various sectors along with analytical solutions, IoT, AI, and Blockchain technology to gain a competitive advantage is also paving the way for the Underwater Modems market growth.

Application Analysis: Preview

Based on Application, the market is segmented into Oil and Gas Industry, Construction Industry, Defense Industry, Other. Chemical Industry  held the largest share and is projected to grow at a notable CAGR over the coming years. Rising demand for Underwater Modems  in various countries such as the U.S., Germany, China, India, and Japan, among others is likely to support the growth of the market. Numerous companies are focusing on investing heavily in this application to cater the end user requirements effectively.

On the basis of region, the global Underwater Modems market is divided into North America, Europe, Asia Pacific, Latin America, and Middle East & Africa. North America region held a leading share of the global Underwater Modems market in 2020. Some of the major countries contributing to the market growth are the U.S., U.K., Germany, France, China, India, Japan, and South Korea. US is considered as the most lucrative country for market players. This is attributed to the presence of major companies operating in the region.

• North America
  • U.S.
  • Canada
  • Mexico
• Europe
  • UK
  • France
  • Germany
  • Italy
  • Spain
  • Rest of Europe
• Asia Pacific
  • China
  • Japan
  • India
  • South Korea
  • Southeast Asia
  • Rest of Asia Pacific
• Latin America
  • Brazil
  • Rest of Latin America
• Middle East and Africa
  • GCC Countries
  • South Africa
  • Rest of MEA

The market comprises of numerous small, medium, and large sized players spread across various geographies. Some of the main competitors in the global Underwater Modems market are Nortek AS, EvoLogics GmbH, DSPComm, Ocean Innovations, Teledyne Marine, Aquatec, LinkQuest, Subnero Pte.. The report covers company market share analysis which gives a comprehensive overview of the main competitors in the market. In addition, the report also covers major strategies adopted by market players such as new product launch, acquisitions & mergers, partnerships, collaborations & joint ventures, research & development, and regional expansion. The study also covers the product portfolio of major companies operating in the market.

• Global Underwater Modems Market is projected to reach USD 119.39 Million by 2028
• North America held the highest share of the Underwater Modems market
• Performance tailored tougheners Coupling held the largest share of the product segment in the Underwater Modems market
• Chemical Industry held the major share of the application segment in the Underwater Modems market