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 US$ 2,897.7 Mn in 2022 and exhibit a revenue growth of US$ 4,975.2 Mn 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.
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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.
What Is The Growth Outlook For The North America Submarine Communication Cables Market?
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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Key Segments Profiled In The Submarine Communication Cables Market Survey
By Type:
- Unarmoured
- Armoured
- Single Armoured
- Double Armoured
By Project Type:
- New Projects
- Upgradations
By Ownership:
- Consortiums
- Private Enterprises
- Multilateral Development Banks
By Service:
- Layup Services/Installation
- Repair/Maintenance
By Region:
- North America
- Latin America
- Europe
- Asia Pacific
- Middle East and Africa
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https://acatpg.mn.co/posts/29217228
https://faceblox.mn.co/posts/29217236
https://globalsocials.mn.co/posts/29217244
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