The demand for submarine cable in Korea is anticipated to reach USD 132 million by 2034, up from USD 100.6 million in 2024. It is projected that from 2024 to 2034, the submarine cable demand in Korea is going to develop at a CAGR of 2.8%.
The growing Korean submarine cable industry is anticipated due to the rising need for reliable telecommunications infrastructure and high-speed internet access. The upward outlook for the submarine cable sector is primarily due to significant players' ongoing investments in technology upgrades and expansion plans.
The development of the submarine cable industry is facilitated by Korea's advantageous geographic location, which increases its significance in global data connectivity. Submarine cable technology is going to be essential to maintaining and enabling seamless communication networks as Korea pushes forward with its digital transformation.
The submarine cable industry in Korea is poised to expand because of the introduction of renewable energy sources and the rise in offshore wind farms. It is estimated that Asia Pacific submarine cable vendors are important technology promoters.
| Attributes | Details |
|---|---|
| Demand Analysis (2024) | USD 100.6 million |
| Demand Forecast (2034) | USD 132 million |
| CAGR Estimation (2024 to 2034) | 2.8% |
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A rigorous segmentation evaluation of Korea's submarine cables is done in this section, emphasizing the industry's attention to market trends and the expanding need for fiber optic cables segment.
The submarine cable manufacturers in Korea are monitoring these dynamics closely, especially in the solid-filled cables segment, which eclipses the filling type category and shows a significant preference. This information highlights the strategic factors that submarine cable providers must consider when navigating Korea's rapidly changing submarine cable technologies.
The product segment is expected to lead submarine cable sales in the Korean market, surpassing that of the service segment. The fiber optic cables segment's dominance highlights the importance of tangible cable solutions in addressing the expanding need for dependable and durable underwater connectivity infrastructure.
| Segment | Fiber Optic Cables |
|---|---|
| Share | 56.50% |
The trend indicates a deliberate emphasis on innovative and effective cable products that meet the changing demands of the energy and telecommunications industries. The leading position of the fiber optic cables segment indicates preference for innovative solutions, highlighting the critical role of submarine cables in advancing Korea's development.
The superior insulation properties and enhanced reliability of solid filled cables are the main reasons for their dominance in the submarine cables market of Korea. Solid-filled cable are well-known for their longevity and strong resistance to environmental influences, guaranteeing secure data transfer and boosting submarine cable sales in Korea.
| Segment | Solid Filled Cables |
|---|---|
| Share | 57.40% |
Industries prioritize dependable and long-lasting submarine cable solutions for various applications. Solid-filled cables segment have become the preferred option due to their increased resilience and efficiency. This further escalates submarine cable sales within the Korean market.
The demand for submarine cable systems is fragmented in Korea, with many significant market players. Major producers of underwater cables are expanding their manufacturing capabilities to keep up with the rising demand from businesses.
Korea providers of submarine cables are concentrated on providing cutting-edge goods and services to the submerged cable industry. Installing is a task that only a few submarine cable players complete. Submarine cable is in high demand primarily because of the need to transmit large amounts of data.
Recent Developments Observed in Submarine Cable in Korea
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| Attribute | Details |
|---|---|
| Estimated Valuation (2024) | USD 100.6 million |
| Projected Valuation (2034) | USD 132 million |
| Anticipated CAGR (2024 to 2034) | 2.8% |
| Historical Analysis of Submarine Cable in Korea | 2019 to 2023 |
| Demand Forecast for Submarine Cable in Korea | 2024 to 2034 |
| Quantitative Units | Revenue in USD million and CAGR from 2024 to 2034 |
| Report Coverage | Revenue Forecast, Company Ranking, Competitive Landscape, Growth Factors, Trends and Pricing Analysis |
| Key Provinces Analyzed while Studying Opportunities in Submarine Cable in Korea | South Gyeongsang, North Jeolla, South Jeolla, Jeju |
| Key Companies Profiled | LS Cable & System; Samsung C&T Corporation; KT Submarine Corporation; Hyundai Heavy Industries (HHI); Nexans; NEC Corporation |
The anticipated CAGR of submarine cable in Korea is 2.8% through 2034.
The submarine cable sales in Korea registered a HCAGR of 1.3% from 2019 to 2023.
Demand for submarine cable in Korea is likely to exceed USD 132 million by 2034.
The fiber optic cables segment is set to grab a share of 56.5% in 2024.
The solid filled cables segment is on track to seize a share of 57.4% in 2024.
| Estimated Size (2024) | USD 3,870.1 million |
|---|---|
| Projected Size (2034) | USD 7,062.7 million |
| Value-based CAGR (2024 to 2034) | 6.2% |
| Estimated Market Size in 2024 | USD 2,444.3 million |
|---|---|
| Projected Market Value in 2034 | USD 3,970.0 million |
| Value-based CAGR (2024 to 2034) | 5.0% |
| Market Share (2023) | USD 4,699.2 million |
|---|---|
| Market Share (2033) | USD 10,082.5 million |
| Market CAGR (2023 to 2033) | 7.9% |
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Submarine Cable Industry Analysis in Korea
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