The demand for submarine communication cables is estimated to increase at a CAGR of 5.6% during the forecast period. The market revenue is likely to be valued at USD 2,897.7 million in 2022 and exhibit a revenue growth of USD 4,975.2 million by 2032.
The demand for bandwidth and internet connection worldwide is likely to expand the submarine communication cables market size. Although, the demand for the cables is expected to curb due to the unsuitability of the cables for remote villages, terrains, small island nations and hilly regions.
Conversely, technological advancements in cable system infrastructure are expected to fuel global market growth.
| Attributes | Details |
|---|---|
| Submarine Communication Cables Market Size (2022) | USD 2,897.7 million |
| Submarine Communication Cables Market Size (2032) | USD 4,975.2 million |
| Submarine Communication Cables Market CAGR | 5.6% |
A higher emphasis on the growth of underwater communication networks is likely to propel the market share. Moreover, fibre-optic submarine technology owners expanding their usage to handle massive internet traffic changes, especially due to cable damage, is expected to satisfy consumer demand.
The deployment of armoured submarine communication cables has a lower risk of being damaged by man-made accidents or natural disasters. This is expected to significantly contribute to the global market growth.
Submarine cable system projects, as well as upcoming offshore wind farms, are likely to surge the demand for submarine communication cables. Moreover, key investors such as Facebook, Google, Amazon, and Microsoft are expected to considerably boost the market growth.
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Growing investments in offshore wind farms, especially by OTT providers to provide accurate requirements, as well as increasing data traffic, are expected to accelerate the submarine communication cables market growth. Additionally, the demand is likely to increase due to the rise in new offshore wind capacity additions.
Several businesses opting to store data locally, as well as the increasing need for service providers to enhance the consumer experience by reducing latency, is a key market driver. Moreover, in terms of cost and efficiency, the adoption of submarine communication cables is anticipated to grow, owing to their high reliability and high carrying capacity.
Rising internet traffic across the world is expected to surge the submarine communication cables demand. In addition to this, the growing data consumption rate is due to the rapid increase in the use of mobile users, social networking and a shift towards cloud services. Furthermore, the increasing demand for inter-country and island connections has positively impacted the market growth.
Technology and information exchange trade around the world is rapidly increasing, which is significantly driving market growth. Moreover, research and development (R&D) activities increasing owing to the growing electrification of offshore oil and gas networks are likely to propel the market share.
Maintenance costs, as well as the higher implementation of submarine communication cables, are expected to hinder market growth. Moreover, the repair costs associated with submarine cable systems, along with the damaging of cables due to severe climatic conditions, are further likely to hamper the market size.
The development of communications infrastructure under-water receiving higher focus is expected to garner significant prospects for the market. Furthermore, the rise in data center interconnect (DCI), cloud computing, artificial intelligence, IoT, Big Data and other developments in internet infrastructure are anticipated to further fuel the market growth.
North America holds the largest share of the submarine communication cables market share, with a revenue of 23.4% in 2022. This is attributed to high technology development in this region to improve the product line.
The nexus of old submarine communication lines that need replacement or modification is likely to bolster the market share. In addition to this, emphasis on increasing information channel links with other countries is expected to expand the global market size.
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Europe is the second leading market for submarine communication cables, with a share of 21.1% in 2022. This is owing to the increasing investments in offshore wind projects.
Countries such as Germany and the U.K. significantly invest in the expansion and development of their regional offshore wind energy industries. Furthermore, the U.K. holds the world’s largest offshore wind market share. These factors are expected to drive the global consumer demand for submarine communication cables.
The Asia Pacific is a growing submarine communication cables market, owing to the increasing demand for bandwidth in this region and the rapidly increasing number of internet users in this region.
The blooming IT service industry, as well as the significant growth of data users, are anticipated to boost the global market growth. Furthermore, several private companies opting for private networks to enhance data security is likely to increase submarine communication cable adoption.
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The rising demand for interconnecting countries’ power grids is fuelling the adoption of submarine communication cables. This is because the global ligature of communication cables is serving as a pillar for telecom industries worldwide.
Communication cables are increasingly being used for larger and more complex purposes, such as the Internet of Things (IoT), which is likely to rise its demand, especially in developing economies.
Through collaborations with several key global partners, start-up companies are currently deploying two next-generation cables to support the remarkable growth of data demand across the world.
Major technology giants are currently considering the increasing consumer demand to cater with their advanced technology products, which are being introduced to continue improving the performance of submarine communication cables.
Key market participants of the submarine communication cables market:
Other players in the submarine communication cables market:
Some of the recent developments in the submarine communication cables market are:
| Report Attribute | Details |
|---|---|
| Growth Rate | CAGR of 5.6% from 2022 to 2032 |
| Base year for estimation | 2021 |
| Historical data | 2016 to 2021 |
| Forecast period | 2022 to 2032 |
| Quantitative units | Revenue in USD million and CAGR from 2022 to 2032 |
| Report coverage | Revenue forecast, volume forecast, company ranking, competitive landscape, growth factors, and trends, Pricing Analysis, |
| Segments covered | Type, Project Type, Ownership, Service, and Region. |
| Regional scope | North America; Western Europe; Eastern Europe; Middle East; Africa; ASEAN; South Asia; Rest of Asia; Australia and New Zealand |
| Country scope | USA, Canada, Mexico, Germany, UK, France, Italy, Spain, Russia, Belgium, Poland, Czech Republic, China, India, Japan, Australia, Brazil, Argentina, Colombia, Saudi Arabia, UAE, Iran, South Africa |
| Key companies profiled | NEC Corporation; General Cable Technologies Corporation; OCC Corporation; Hengtong Marine Cable System; ZTT Group; Alcatel Submarine Networks Inc.; Nexans S.A.; SubCom LLC; Prysmian S.p.A; Google LLC; Microsoft Corporation; NKT A/S; Nexans Norway AS; Huawei Marine Networks Co. Ltd.; Corning Incorporated; FUJITSU; AEI Cables; Ericsson; General Cable; Hanhe Cable Company; Hasfibel; Jainson Cables India Pvt. Ltd.; Kerite; JDR Cable Systems Ltd.; Hexatronic Cables & Interconnect Systems; LEONI Special Cables GmbH; The Okonite Company; ALE International; Nokia; Norddeutsche Seekabelwerke; Reliance Jio (Partner); etc. |
| Customization scope | Free report customization (equivalent to up to 8 analysts working days) with purchase. Addition or alteration to country, regional & segment scope. |
| Pricing and purchase options | Avail customized purchase options to meet your exact research needs. |
The submarine communication cable market is likely to garner a CAGR of 5.6%, during the forecast period.
North America is the leading submarine communication cables market.
The submarine communication cables market is likely to grow to a revenue of USD 4,975.2 Million by 2032.
1. Executive Summary 2. Market Overview 3. Market Background 4. Global Market Analysis 2017 to 2021 and Forecast, 2022 to 2032 5. Global Market Analysis 2017 to 2021 and Forecast 2022 to 2032, By Cable Type 5.1. Unarmoured 5.2. Armoured 5.3. Single Armoured 5.4. Double Armoured 6. Global Market Analysis 2017 to 2021 and Forecast 2022 to 2032, By Ownership 6.1. Consortiums 6.2. Private Enterprises 6.3. Multilateral Development Banks 7. Global Market Analysis 2017 to 2021 and Forecast 2022 to 2032, By Project Type 7.1. New Projects 7.2. Up Gradations 8. Global Market Analysis 2017 to 2021 and Forecast 2022 to 2032, By Service 8.1. Layup services/Installation 8.2. Repair/Maintenance 9. Global Market Analysis 2017 to 2021 and Forecast 2022 to 2032, By Region 9.1. North America 9.2. Latin America 9.3. Europe 9.4. Asia Pacific 9.5. MEA 10. North America Market Analysis 2017 to 2021 and Forecast 2022 to 2032, By Country 11. Latin America Market Analysis 2017 to 2021 and Forecast 2022 to 2032, By Country 12. Europe Market Analysis 2017 to 2021 and Forecast 2022 to 2032, By Country 13. Asia Pacific Market Analysis 2017 to 2021 and Forecast 2022 to 2032, By Country 14. MEA Market Analysis 2017 to 2021 and Forecast 2022 to 2032, By Country 15. Key Countries Market Analysis 16. Market Structure Analysis 17. Competition Analysis 17.1. NEC Corporation 17.2. General Cable Technologies Corporation 17.3. OCC Corporation 17.4. Hengtong Marine Cable System 17.5. ZTT Group 17.6. Alcatel Submarine Networks, Inc. 17.7. Nexans S.A. 17.8. Hanhe Cable Company 17.9. AEI Cables 17.10. Kerite 17.11. Jainson Cables India Pvt Ltd 17.12. Huawei Marine Networks 17.13. Ericsson 17.14. Apar Industries Ltd 17.15. JDR Cable Systems Ltd 18. Assumptions & Acronyms Used 19. Research Methodology
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Submarine Communication Cables Market
