by Market Overview:
Submarine cables refers to the cables laid on the seabed for telecommunication purpose between land-based stations across oceans and seas. Submarine cable networks allow transmission of bulk data, voice and video communication between nations.
The global Submarine Cables Market is estimated to be valued at US$ 2751.81 Mn in 2023 and is expected to exhibit a CAGR of 6.3% over the forecast period 2023 to 2030, as highlighted in a new report published by Coherent Market Insights
Market key trends:
One of the key trend in the submarine cables market is the increasing demand for high-speed internet connectivity. With growing internet penetration and rising data traffic globally, there is an increasing demand for internet bandwidth. Submarine cables offer the advantage of high-speed data transmission and large network capacity to meet rising bandwidth demand. Various internet giants and tech companies are investing significantly in laying new submarine cable networks to support ongoing digital transformation worldwide. For instance, in 2023 Meta (formerly Facebook) announced a new submarine cable called 2Africa Pierce that will considerably increase connectivity for nearly 3 billion people living in Africa, Middle East and Europe.
SWOT Analysis
Strength: The submarine cable infrastructure allows fast and reliable internet connectivity across oceans. It has high data transmission capacity to support increasing data traffic.
Weakness: Deploying and maintaining submarine cables is a complex and capital intensive process. cables are vulnerable to damages caused by natural disasters like earthquakes.
Opportunity: 5G rollout and rapid digitalization is spurring demand for high bandwidth connectivity. Emerging economies are investing heavily in digital infrastructure development.
Threats: Cyber threats and cable thefts can disrupt telecom networks. Issues regarding cable landing rights and regulations pose challenges.
Key Takeaways
The global Submarine Cables Market Growth is expected to witness high growth, exhibiting CAGR of 6.3% over the forecast period, due to increasing investments in digital infrastructure by telecom operators and governments.
Regional analysis
The Asia Pacific region dominates the global submarine cables market with more than 35% share owing to fast digital adoption. China has the largest submarine cable infrastructure and is a major investor. North America and Europe follow APAC in terms of market size due to high internet penetration and fiberization.
Key players operating in the submarine cables market include Alcatel Submarine Networks, SubCom, LLC, ABB, Huawei Marine Networks Co., Ltd., NEC Corporation, NEXANS NORWAY AS, FUJITSU, Prysmian Group, Saudi Ericsson, HENGTONG GROUP CO., LTD., ZTT, Corning Incorporated, NKT A/S, Hellenic Cables Group. The Okonite Company, Apar Industries Ltd., JDR Cable Systems Ltd., AFL, Hexatronic Cables & Interconnect Systems, and LEONI Special Cables GmbH.
*Note:
1. Source: Coherent Market Insights, Public sources, Desk research
2. We have leveraged AI tools to mine information and compile it
