What Has Driven the Growth of the Submarine cable systems Market in Recent Years?
The submarine cable systems market has seen considerable growth due to a variety of factors.
• In recent years, the market size of submarine cable systems has experienced rapid growth. It is projected to escalate from $20.21 billion in 2024 to $22.54 billion in 2025, boasting an impressive compound annual growth rate (CAGR) of 11.5%.
This substantial growth in the past can be credited to factors like increasing demand for global connectivity, growth in international trade, the development of telecommunications infrastructure, energy transmission needs, and expansion of data centers.
What are the Market Size and Expected Growth Rates for the Submarine cable systems Market?
The submarine cable systems market is expected to maintain its strong growth trajectory in upcoming years.
• The market for submarine cable systems is projected to experience substantial expansion in the upcoming few years. The market is foreseen to climb to $36.91 billion by 2029, with a compound annual growth rate (CAGR) of 13.1%.
This notable growth during the predicted period is mainly due to rising connectivity in emergent markets, the integration of renewable energy, deployment of the 5G network, digitalization patterns, and the burgeoning telemedicine industry. Critical trends within this forecast period encompass the emphasis on developing resilient and independent cable systems, collaboration for transnational submarine cable undertakings, emergence of open cable system designs, the advent of intelligent cable monitoring and servicing setups, and the rise of ecological and sustainable submarine cable alternatives.
What Are The Core Factors Supporting Growth In Submarine cable systems Market?
The surge in telecom and internet subscriptions is playing a significant role in propelling the submarine cable system market's expansion. The seabed-laid submarine cable system aids in transmitting telecommunication signals across various locations using optical fiber technology. The rapid increase in the utilization of smartphones over regular desktops is fueling the growth in the telecom and internet subscriptions industries, further stimulating these markets. For instance, the GSM Association, a global industry organization based in the UK, revealed that the monthly global mobile data usage per user surged from 8.4 GB in 2021 to 11.3 GB in 2022, as of October 2023. Thus, the growing number of telecom and internet subscriptions is bolstering the respective markets.
What Are The Key Segments Within The Global Submarine cable systems Market?
The submarine cable systems market covered in this report is segmented –
1) By Component: Wet Plant Products, Dry Plant Products
2) By Type: Multicore, Single Core
3) By Voltage: High Voltage, Medium Voltage
4) By Application: Communication Cables, Power Cables
5) By End User: Offshore Wind Power Generation, Inter-Country And Island Connection, Offshore Oil And Gas
Subsegments:
1) By Wet Plant Products: Submarine Cables, Repeaters, Cable Joints
2) By Dry Plant Products: Cable Landing Stations, Terminal Equipment, Power Feed Equipment
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How Are New Trends Impacting The Size Of The Submarine cable systems Market?
Key trends emerging in the submarine cable system market revolve around strategic alliances and the embracement of cutting-edge technologies. To advance in the creation of new products and technologies, firms within this sector are opting for a variety of partnerships. A prime example is a collaboration in July 2023 between AquaComms, a telecommunications business based in Ireland, and Meta and Microsoft, technology organizations from the US, along with Vodafone, another telecommunications entity from the UK. Together, they have successfully established the Amitié subsea cable system, a pioneering venture that provides direct connections from Boston to Europe and Bordeaux to North America. Constructed by Alcatel Submarine Networks, the 6,783 km long, high-capacity cable featuring 16 fiber pairs and a bandwidth of 400 Tbps, terminates in Lynn (Massachusetts), Wide-mouth Bay (England), and Le Porge (France). Amitié has broadened the connectivity options between the US, UK, and France, offering a direct link from Boston to London and a carrier-neutral data center in Bordeaux, fostering increased dependability over numerous routes. Remarkably, an ingenious branching unit allows for convenient switching between landing points.
Who Are the Key Players in the Submarine cable systems Market?
Major companies operating in the submarine cable systems market include:
• Amazon.com Inc.
• Alphabet Inc.
• Microsoft Corporation
• Sumitomo Electric Industries Ltd.
• Fujitsu Limited
• Saudi Ericsson Communications Company Ltd.
• NEC Corporation
• Hengtong Group Co Ltd.
• TE Connectivity Ltd.
• Corning Incorporated
• Prysmian SpA
• Nexans S.A.
• Leoni Special Cables GmbH
• NKT A/S
• Apar Industries Ltd.
• Cablel Group Ltd.
• Tele-fonika Kable S.A.
• Hexatronic Cables & Interconnect Systems AB
• SubCom LLC
• The Okonite Company Inc.
• LS Cable & System Ltd.
• ZTT International Ltd.
• Alcatel Submarine Networks Company
• JDR Cable Systems Ltd.
• Huawei Marine Networks Co Ltd
• Xtera Communications Inc.
• Hesfibel SA
• Norddeutsche Seekabelwerke GmbH
• Amphenol Fiber Systems International
• Elettra Communications Ltd.
• Kokusai Cable Ship Co Ltd.
• Global Marine Group Ltd.
• Orange S.A.
• PCCW Global Ltd.
• Aqua Comms Limited
• Seaborn Networks LLC
• Hawaiki Submarine Cable LP
• Southern Cross Cable Network Ltd.
• MainOne Cable Company Limited
• Angola Cables SA
What are the Regional Insights into the Submarine cable systems Market?
Asia-Pacific was the largest region in the submarine cable systems market share in 2024. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the submarine cable systems market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
