PUBLISHER: Global Industry Analysts, Inc. | PRODUCT CODE: 1103548
PUBLISHER: Global Industry Analysts, Inc. | PRODUCT CODE: 1103548
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Global Underwater Acoustic Communication Market to Reach $2.6 Billion by 2027
In the changed post COVID-19 business landscape, 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$2.6 Billion by 2027, growing at a CAGR of 10.2% over the analysis period 2020-2027. Sensor Interface, one of the segments analyzed in the report, is projected to record a 9.4% CAGR and reach US$1 Billion by the end of the analysis period. Taking into account the ongoing post pandemic recovery, growth in the Acoustic Modem segment is readjusted to a revised 11.2% CAGR for the next 7-year period.
The U.S. Market is Estimated at $431 Million, While China is Forecast to Grow at 12% CAGR
The Underwater Acoustic Communication market in the U.S. is estimated at US$431 Million in the year 2020. China, the world`s second largest economy, is forecast to reach a projected market size of US$423.5 Million by the year 2027 trailing a CAGR of 12% over the analysis period 2020 to 2027. Among the other noteworthy geographic markets are Japan and Canada, each forecast to grow at 8.4% and 9.5% respectively over the 2020-2027 period. Within Europe, Germany is forecast to grow at approximately 8.9% CAGR.Other Interface Platforms Segment to Record 8.9% CAGR
In the global Other Interface Platforms segment, USA, Canada, Japan, China and Europe will drive the 8.9% CAGR estimated for this segment. These regional markets accounting for a combined market size of US$145.6 Million in the year 2020 will reach a projected size of US$258.9 Million by the close of the analysis period. China will remain among the fastest growing in this cluster of regional markets.
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