The market for submarine cables refers to the industry and economic activities associated with the manufacturing, installation, maintenance, and operation of undersea cables used for long-distance communication and data transmission. It encompasses the various stakeholders involved, including submarine cable manufacturers, system integrators, network operators, and service providers.
Submarine cables serve as the physical infrastructure that enables the transmission of data, voice, and video signals across continents and under the oceans of the world. These cables are essential for intercontinental communication, international connectivity, and global data transfer. They form the backbone of the telecommunications network, facilitating internet access, international phone calls, video conferencing, and other communication services on a global scale.
The market for submarine cables is characterized by technological advancements, stringent quality standards, and a high level of expertise required for design, manufacturing, and installation. It involves complex engineering processes, extensive research and development, and continuous innovation to improve cable performance, capacity, and durability. Market trends in this sector are influenced by factors such as the increase in demand for high-speed internet connectivity, the proliferation of emerging technologies such as 5G and IoT, the expansion of digital services, and the geographical extension of internet access to underserved regions. Moreover, the market experiences competitive dynamics as companies vie for contracts to build and deploy submarine cable systems, aiming to meet the growth in demand for global connectivity and capitalize on the expanding digital economy.
Thee market for submarine cables is thus a specialized sector within the broader telecommunications industry, focused on the development and deployment of undersea cables that enable international communication and data transmission. It plays a crucial role in connecting nations, supporting global connectivity, and facilitating the exchange of information on a global scale.
The submarine cables market is anticipated to expand significantly during the forecast period owing to an increase in global connectivity demand, government initiatives and investments, and surge in investment for offshore energy projects. On the contrary, the geopolitical and security concerns, and external threats and damages are the restraints for submarine cables market growth during the forecast period. The submarine cables market is segmented on the basis of offering, voltage, application, and region. On the basis of offering, the market is categorized into installation and commissioning, maintenance, and upgrades. In 2022, the installation and commissioning segment dominated the market, in terms of revenue, and it is expected to acquire major market share by 2032.
On the basis of voltage, the market is bifurcated into medium voltage and high voltage. The medium voltage segment acquired the largest share in 2022 and high voltage is expected to grow at a significant CAGR from 2023 to 2032. On the basis of application, the market is bifurcated into power cables and communication cables. The power cables segment acquired the largest share in 2022 and communication cables is expected to grow at a significant CAGR from 2023 to 2032. On the basis of region, the submarine cables market trends are analyzed across North America (the U.S., Canada, and Mexico), Europe (the UK, Germany, France, and rest of Europe), Asia-Pacific (China, Japan, India, South Korea, and rest of Asia-Pacific), and LAMEA (Latin America, Middle East, and Africa).
Competitive analysis and profiles of the major global submarine cables market players that have been provided in the report include Alcatel Submarine Networks (ASN), Fujitsu, HENGTONG GROUP CO.,LTD., HMN Tech, JDR Cable Systems Ltd., NEC Corporation, Nexans, Prysmian Group, SubCom, LLC, and Sumitomo Electric Industries, Ltd. The key strategies adopted by the major players of the submarine cables market are branding, contracts, and agreements.
Submarine cables serve as the physical infrastructure that enables the transmission of data, voice, and video signals across continents and under the oceans of the world. These cables are essential for intercontinental communication, international connectivity, and global data transfer. They form the backbone of the telecommunications network, facilitating internet access, international phone calls, video conferencing, and other communication services on a global scale.
The market for submarine cables is characterized by technological advancements, stringent quality standards, and a high level of expertise required for design, manufacturing, and installation. It involves complex engineering processes, extensive research and development, and continuous innovation to improve cable performance, capacity, and durability. Market trends in this sector are influenced by factors such as the increase in demand for high-speed internet connectivity, the proliferation of emerging technologies such as 5G and IoT, the expansion of digital services, and the geographical extension of internet access to underserved regions. Moreover, the market experiences competitive dynamics as companies vie for contracts to build and deploy submarine cable systems, aiming to meet the growth in demand for global connectivity and capitalize on the expanding digital economy.
Thee market for submarine cables is thus a specialized sector within the broader telecommunications industry, focused on the development and deployment of undersea cables that enable international communication and data transmission. It plays a crucial role in connecting nations, supporting global connectivity, and facilitating the exchange of information on a global scale.
The submarine cables market is anticipated to expand significantly during the forecast period owing to an increase in global connectivity demand, government initiatives and investments, and surge in investment for offshore energy projects. On the contrary, the geopolitical and security concerns, and external threats and damages are the restraints for submarine cables market growth during the forecast period. The submarine cables market is segmented on the basis of offering, voltage, application, and region. On the basis of offering, the market is categorized into installation and commissioning, maintenance, and upgrades. In 2022, the installation and commissioning segment dominated the market, in terms of revenue, and it is expected to acquire major market share by 2032.
On the basis of voltage, the market is bifurcated into medium voltage and high voltage. The medium voltage segment acquired the largest share in 2022 and high voltage is expected to grow at a significant CAGR from 2023 to 2032. On the basis of application, the market is bifurcated into power cables and communication cables. The power cables segment acquired the largest share in 2022 and communication cables is expected to grow at a significant CAGR from 2023 to 2032. On the basis of region, the submarine cables market trends are analyzed across North America (the U.S., Canada, and Mexico), Europe (the UK, Germany, France, and rest of Europe), Asia-Pacific (China, Japan, India, South Korea, and rest of Asia-Pacific), and LAMEA (Latin America, Middle East, and Africa).
Competitive analysis and profiles of the major global submarine cables market players that have been provided in the report include Alcatel Submarine Networks (ASN), Fujitsu, HENGTONG GROUP CO.,LTD., HMN Tech, JDR Cable Systems Ltd., NEC Corporation, Nexans, Prysmian Group, SubCom, LLC, and Sumitomo Electric Industries, Ltd. The key strategies adopted by the major players of the submarine cables market are branding, contracts, and agreements.
Key Benefits For Stakeholders
- This report provides a quantitative analysis of the market segments, current trends, estimations, and dynamics of the submarine cables market analysis from 2022 to 2032 to identify the prevailing submarine cables market opportunities.
- The market research is offered along with information related to key drivers, restraints, and opportunities.
- Porter's five forces analysis highlights the potency of buyers and suppliers to enable stakeholders make profit-oriented business decisions and strengthen their supplier-buyer network.
- In-depth analysis of the submarine cables market segmentation assists to determine the prevailing market opportunities.
- Major countries in each region are mapped according to their revenue contribution to the global market.
- Market player positioning facilitates benchmarking and provides a clear understanding of the present position of the market players.
- The report includes the analysis of the regional as well as global submarine cables market trends, key players, market segments, application areas, and market growth strategies.
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Key Market Segments
By Voltage
- Medium Voltage
- High Voltage
By Offering
- Installation and Commissioning
- Maintenance
- Upgrades
By Application
- Power Cables
- Communication Cables
By Region
- North America
- U.S.
- Canada
- Mexico
- Europe
- UK
- Germany
- France
- Rest of Europe
- Asia-Pacific
- China
- Japan
- India
- South Korea
- Rest of Asia-Pacific
- LAMEA
- Latin America
- Middle East
- Africa
Key Market Players
- Alcatel Submarine Networks
- Fujitsu
- HENGTONG GROUP CO.,LTD.
- HMN Tech
- JDR Cable Systems Ltd.
- NEC CORPORATION
- Nexans S.A.
- Prysmian Group
- SubCom, LLC
- Sumitomo Electric Industries, Ltd.
Table of Contents
CHAPTER 1: INTRODUCTION
CHAPTER 2: EXECUTIVE SUMMARY
CHAPTER 3: MARKET OVERVIEW
CHAPTER 4: SUBMARINE CABLES MARKET, BY VOLTAGE
CHAPTER 5: SUBMARINE CABLES MARKET, BY OFFERING
CHAPTER 6: SUBMARINE CABLES MARKET, BY APPLICATION
CHAPTER 7: SUBMARINE CABLES MARKET, BY REGION
CHAPTER 8: COMPETITIVE LANDSCAPE
CHAPTER 9: COMPANY PROFILES
List of Tables
List of Figures
Executive Summary
According to this report, the submarine cables market was valued at $7.4 billion in 2022, and is estimated to reach $14 billion by 2032, growing at a CAGR of 6.6% from 2023 to 2032.The submarine cables market is likely to experience a significant growth rate of 6.6% from 2023-2032 owing Surge in adoption of Industrial Internet of Things (IIoT), and increase in demand for reliable secured connectivity.
Submarine cables, also known as undersea or submarine communication cables, are specialized cables designed for the purpose of transmitting telecommunications signals and data across bodies of water, typically the world's oceans. These cables are critical for international communication and serve as the backbone of global telecommunications infrastructure. Submarine cables consist of a core made of fiber optic strands encased in protective layers, including insulation, shielding, and armor, to withstand the harsh underwater environment. The fiber optic technology used in these cables allows for the high-speed transmission of vast amounts of data, enabling global connectivity for voice, internet, and other communication services.
Submarine cables play a vital role in connecting continents and countries, facilitating reliable and high-capacity data transfer across long distances. They serve as the primary means of intercontinental communication, enabling seamless and real-time transmission of data, voice, and video signals. These cables are laid on the ocean floor, typically by specialized cable-laying vessels, and are designed to be durable and resistant to external factors such as water pressure, temperature variations, and potential damage from fishing activities or natural occurrences. By establishing a network of interconnected submarine cables, countries and regions can achieve efficient and secure global communication, supporting various sectors including business, finance, education, research, and entertainment.
The growth of the submarine cables market is primarily driven by the increasing demand for high-speed internet connectivity and data transmission across regions. The proliferation of digital services, cloud computing, and the Internet of Things (IoT) has led to a surge in data traffic, necessitating the deployment of robust and high-capacity submarine cable systems. Additionally, the expansion of data centers, advancements in fiber optic technology, the emergence of 5G networks, and the need for global connectivity in underserved regions are also key factors fueling the growth of the submarine cables market. These factors collectively contribute to the development and expansion of submarine cable infrastructure worldwide.
The submarine cables market presents significant growth opportunities for key players in the industry. The increasing demand for submarine cable infrastructure opens avenues for companies specializing in the design, manufacturing, and installation of submarine cables. As the market expands, there are opportunities for innovation in cable technology, such as higher data capacity and longer reach, to meet the evolving needs of global connectivity. Additionally, investments in emerging markets and the development of environmentally sustainable cable solutions provide further growth prospects. Furthermore, advancements in cable maintenance and repair technologies offer opportunities for service providers to enhance the efficiency and reliability of submarine cable networks. Overall, the growth of the submarine cables market creates a favorable landscape for key players to capitalize on the rising demand for global communication and data transmission.
The submarine cables market is segmented on the basis of offering, voltage, application, and region. On the basis of offering, the market is categorized into installation and commissioning, maintenance, and upgrades. On the basis of voltage, the market is bifurcated into medium voltage and high voltage. On the basis of application, the market is bifurcated into power cables and communication cables.
On the basis of region, the submarine cables market trends are analyzed across North America (the U. S., Canada, and Mexico), Europe (the UK, Germany, France, and Rest of Europe), Asia-Pacific (China, Japan, India, South Korea, and Rest of Asia-Pacific), and LAMEA (Latin America, Middle East, and Africa)..
Competitive analysis and profiles of the major global submarine cables market players that have been provided in the report Advantech, Alcatel Submarine Networks (ASN), Fujitsu, HENGTONG GROUP CO.,LTD., HMN Tech, JDR Cable Systems Ltd., NEC Corporation, Nexans, Prysmian Group, SubCom, LLC, and Sumitomo Electric Industries, Ltd. For instance, in June 2023, Advantech, announced the launch of the AIW-300 series - the AIW-343. This 4G LTE Cat 4 wireless module from Advantech Industrial Wireless (AIW) is designed for AIoT applications requiring ubiquitous connectivity, dynamic mobility, and extreme security.
Key Market Insights
The global submarine cables market was valued at $7.41 billion in 2022, and is projected to reach $13.94 billion by 2032, registering a CAGR of 6.55% from 2023 to 2032. The medium voltage segment was the highest revenue contributor to the market, with $4.05 billion in 2022, and is estimated to reach $7.38 billion by 2032, with a CAGR of 6.2%.The installation and commissioning segment was the highest revenue contributor to the market.
The power cables segment was the highest revenue contributor to the market, with $4.23 billion in 2022, and is estimated to reach $7.82 billion by 2032, with a CAGR of 6.36%.
Asia-Pacific was the highest revenue contributor, accounting for $3.17 billion in 2022, and is estimated to reach $6.26 billion by 2032, with a CAGR of 7.06%.
Companies Mentioned
- Alcatel Submarine Networks
- Fujitsu
- HENGTONG GROUP CO.,LTD.
- HMN Tech
- JDR Cable Systems Ltd.
- NEC CORPORATION
- Nexans S.A.
- Prysmian Group
- SubCom, LLC
- Sumitomo Electric Industries, Ltd.
Methodology
The analyst offers exhaustive research and analysis based on a wide variety of factual inputs, which largely include interviews with industry participants, reliable statistics, and regional intelligence. The in-house industry experts play an instrumental role in designing analytic tools and models, tailored to the requirements of a particular industry segment. The primary research efforts include reaching out participants through mail, tele-conversations, referrals, professional networks, and face-to-face interactions.
They are also in professional corporate relations with various companies that allow them greater flexibility for reaching out to industry participants and commentators for interviews and discussions.
They also refer to a broad array of industry sources for their secondary research, which typically include; however, not limited to:
- Company SEC filings, annual reports, company websites, broker & financial reports, and investor presentations for competitive scenario and shape of the industry
- Scientific and technical writings for product information and related preemptions
- Regional government and statistical databases for macro analysis
- Authentic news articles and other related releases for market evaluation
- Internal and external proprietary databases, key market indicators, and relevant press releases for market estimates and forecast
Furthermore, the accuracy of the data will be analyzed and validated by conducting additional primaries with various industry experts and KOLs. They also provide robust post-sales support to clients.
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