Submarine cable systems market accounted to US$ 13.4 Bn in 2018 and is expected to grow at a CAGR of 9.2% during the forecast period 2019 – 2027
All the regions of the globe comprise of various emerging economies where the Governments in the recent times are support various policies for enabling economic growth. Digitalization of the economy has taken center stage in majority of the countries such as India, China, Vietnam, Hong Kong, Malaysia, and Indonesia. Governments in the emerging economies have laid enhanced focus on developing their digital infrastructures. Supportive policies for the development of digital infrastructures paves the way for greater investments for the submarine cable systems. In some of the major countries of the world, the manufacturing sector, the financial sector, as well as the retail sector has been provided with substantial support. With a view to becoming world leaders in these sectors, Governments have realized the power of the internet to be harnessed in each of these sectors. Healthcare, agriculture, financial sector, retail, consumer electronics, manufacturing, media & entertainment, and many other industry sectors have witnessed increasing dependence on the internet to support their daily operations. The increasing demand for internet capacity is widely driving the submarine cable systems market for communication.
The most prominent market players in Submarine Cable Systems market are Nokia Corporation, NEC Corporation, and SUBCOM, LLC among others for a considerable share of the market owing to their product offerings to the market. Companies have taken several market initiatives in order to expand their footprint across the world and to fulfill the growing demand of the market. In 2018, NEC Corporation announced that it has signed an agreement with the Southeast Asia–Japan 2 consortium (SJC2 consortium) to build a high performance submarine cable connecting Singapore, Thailand, Cambodia, Vietnam, Hong Kong, Taiwan, mainland China, Korea and Japan. Similarly, in 2018, another initiative in respect to product innovation has been undertaken by Fujitsu. The company unveiled its new Development of Novel Technology, an ultra-high capacity wavelength-division multiplexing system, to Massively Boost Optical Data Transfer Throughput Using Existing Equipment. The new technology enables the usage of multiple wavelength bands to support expanded transmission capacity between datacenters.
The players present in submarine cable systems market mainly concentrate towards the partnership, collaborations, agreements, acquisitions, product development, and other activities for the deployment of submarine cable systems across the world. This permit the players to maintain its brand name globally. Most of the market initiative were observed in Asia Pacific and Europe region, which have high potential of submarine cable systems market related services. These activities have paved way for the expansion of business and customer base of market players. The market payers from submarine cable systems market are anticipated to lucrative growth opportunities in the future with the rising demand for submarine cable systems in the global market. Few on the important market initiatives and acquisitions from the industry are mentioned below:
|2018||Vocus Group Limited and Alcatel Submarine Networks has finalized the contractual documentation which includes final technical specifications for Australia Singapore Cable (ASC) system. It offers optimized engineering possibility to allow the system to work at its full manufacturing mode in the facility Alcatel Submarine Networks in Calais, France.||Europe|
|2016||Alcatel-Lucent Submarine Networks and Samoa Submarine Cable Company Limited has signed a contract to start with a work of new submarine cable system, Tui-Samoa Cable that would extend over 1,470 km and offering advance broadband highway. Tui-Samoa Cable has landing points in Apia and Tuasivi (Samoa) and Suva (Fiji).||APAC|
|2015||Alcatel-Lucent Submarine Networks and GoTo Networks has signed a turnkey contract to construct Australia West Express. It is a first direct undersea cable connecting Australia, the Middle East and Africa.||APAC|