The submarine Cables Market is expected to witness moderate growth, registering 4.8% CAGR during the forecast period (2022-2030) and projected to reach US$ 4.38 Bn by the end of 2030
| Submarine Cables Market Size (2022) | US$ 3 Bn |
| Sales Forecast (2030) | US$ 4.38 Bn |
| Global Market Growth Rate (2022 to 2030) | 4.8% |
| Share of Top 5 Market Players | 58% |
During the forecast period of the report, the market is expected to be driven by increased investment in infrastructure for better international communication. Submarine cables are widely used for power transmission in addition to communication transmission.
These cables were developed to transfer the power generated by offshore wind farms to various power plants and countries over island connections. When it comes to communications, these cables are laid along the ocean floor, carrying an astonishing amount of data traffic between countries.
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Submarine cables account for over 90% of data traffic worldwide
Submarine communication cables make up more than 90% of the data traffic generated worldwide. They have an impressive carrying capacity measured in terabits per sector. Since then, these cables have been highly valued by OTT and huge telecommunications providers such as Facebook, Microsoft, Google and Amazon.
They are also considered by most governments to be an essential and important element of the economy. Therefore, different countries have specific regulations governing their markets. Some countries have created safe zones and banned access to cables along the ocean floor, thus protecting potential damage again.
Submarine cable line ownership is becoming more prominent among technology-enabled product and service providers
Increased data traffic is increasing investment in submarine cables. FMI forecasts markets to witness increased investment in regions such as the Middle East, Asia Pacific, Latin America and Europe. Some of the major telecommunications providers are behind the surge in investment recorded in these regions. For example, Amazon’s cables run from the United States to Asia Pacific, connecting countries such as California, Japan, Oregon, and Singapore.
FMI investigates in detail the various factors that influence market growth. It provides deep insight into the market. Some of these are:
- Europe is expected to dominate the global submarine cable market
- Increased offshore wind farm activity will increase market investment
- Huge repair and maintenance costs can hinder growth
- Barriers to the entry of small businesses will continue, especially as the market is capital intensive.
- Nevertheless, SMEs are expected to focus on small projects across different regions.
“Although there are some drawbacks, submarine cables are considered a cheaper and more efficient medium for communication between countries. In addition, submarine cables are used for power transmission and will be in the future. It is expected to give momentum to the market in the next few years, “said FMI’s chief analyst.
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Who is winning?
The submarine cable market is characterized by some huge presence, so there is fierce competition. The market is so capital intensive that it offers few opportunities for SMEs. Nonetheless, players in smaller markets are expected to focus on smaller projects because they are floating in a huge competition.
FMI introduces some of the leading companies operating in the market. These include Alcatel-Lucent, Google, NEC, Subcom, NKT A / S, Nexans, Prismian Group and more.
Gain valuable insights into the submarine cable market
Future Market Insights executive-level blueprint for the report’s submarine cable market. It provides sophisticated forecasts of revenue growth seen in different segments. Trends that affect the market trajectory across these segments will also be investigated in detail for the period 2020-2030.
The report studies the global submarine cable market in terms of products to electrical cables, fiber optic cables, hybrid / composite cables, and umbilical cables. Based on the filling type, the market is divided into oil / fluid filling cables and solid filling cables. Based on end applications, the market covers oil and gas, renewable energy, telecommunications, and defense segments. Regionally, the global submarine cable market can be divided into North America, Latin America, Europe, Asia Pacific, Oceania, the Middle East and Africa.
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Key segment:
Product type
- Electric cable
- Fiber optic cable
- Hybrid / composite cable
- Umbilical cable
Filling type
- Oil / liquid filling cable
- Solid fluid cable
End use
- Oil and gas
- Renewable energy
- Telecommunications
- defense
Region
- North America
- Latin America
- Europe
- Asia Pacific
- Oceania
- MEA
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About FMI
Future Market Insights (ESOMAR certified market research organization and a member of Greater New York Chamber of Commerce) provides in-depth insights into governing factors elevating the demand in the market. It discloses opportunities that will favor the market growth in various segments on the basis of Source, Application, Sales Channel and End Use over the next 10-years.
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