North America Submarine Cable System Market 2027 By Service and Application

North America Submarine Cable System Market to 2027 - Regional Analysis and Forecasts By Service (Installation Services and Maintenance & Upgrade Services) and Application (Communication and Energy & Power)

Publication Month : Jul 2019

  • Report Code : TIPRE00006078
  • Category : Electronics and Semiconductor
  • Status : Published
  • No. of Pages : 119
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Submarine cable system market in North America is expected to grow from US$ 2.63 Bn in 2018 to US$ 4.78 Bn by the year 2027 with a CAGR of 6.6% from the year 2019 to 2027.

The rising bandwidth demands from the content and cloud service providers are driving the growth of the submarine cable systems market. Moreover, the significant number of ongoing projects for submarine cables is anticipated to boost the submarine cable systems market growth in the near future. However, the high installation cost is expected to hinder the market growth. The complete installation cost of submarine cable system and network, as compared to traditional network lines is on the higher side, which includes material and labor cost. The installation of these cable systems is pretty labor-intensive, especially for implementing undersea connections. The cables are laid on the bed of the ocean, where the trained diver needs to deploy these cables. This task involves high investments. Further, the submarine cable system suffer disruptions through accidental cable cuts and damages. These damages may be caused due to anchors, or seismic activities in the ocean beds. Damages to the cables cause disruptions and can lead to substantial losses to the users in the value chain. Proper protection and insulation for the submarine cables is, therefore, a necessity. However, insulations add up to the costs of deploying submarine cables.

The communication application dominated the submarine cable system market in the year 2018 with the highest market share and is expected to boost its dominance during the forecast period. The submarine cable systems market is segmented by application into communication and energy & power. Increasing international bandwidth requirement and growing internet penetration is prominently driving the communication market for submarine cable systems. Further, increasing investments by content providers is proliferating the growth of the market. Further, Rise in investments for offshore renewable energy and wind farms is fueling the market potential of submarine cable system in the energy & power application.

The US led the North America submarine cable system market in 2018 with the highest market share and is expected to continue its dominance during the forecast period. US being the IT hub, there has been a huge surge in the data being transmitted that has driven the submarine cable systems market. This has further led to the implementations of subsea cables for higher data transmission speeds and bandwidth requirements. Moreover, some of the leading players are expanding their operations in the US. For instance, NEC Corporation and NEC Corporation of America stated the expansion of its offices in Washington, DC, which includes new government relation functions. The office would handle requirements of US for the areas like effective border management and counterterrorism, which in turn is expected to drive the market. The figure given below highlights the revenue share of the Mexico in the submarine cable systems market in the forecast period:

Maxico Submarine Cable System Market Revenue and Forecasts to 2027 ( US$ Mn)

Maxico Submarine Cable System Market
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NORTH AMERICA SUBMARINE CABLE SYSTEM MARKET SEGMENTATION

Submarine Cable System Market - By Service

  • Installation
  • Maintenance & Upgrade

Submarine Cable System Market - By Application

  • Communication
  • Energy & Power

Submarine Cable System Market - By Country

  • US
  • Canada
  • Mexico

Submarine Cable System Market - Companies Mentioned

  • Fujitsu Limited
  • Hawaiki Cable Limited
  • Huawei Marine Networks Co., Limited
  • Mitsubishi Electric Corporation
  • NEC Corporation
  • Nexans Sa
  • Nokia Corporation
  • Prysmian Group
  • Subcom, LLC
  • Sumitomo Electric Industries, Ltd.
Report Coverage
Report Coverage

Revenue forecast, Company Analysis, Industry landscape, Growth factors, and Trends

Segment Covered
Segment Covered

Service and Application

Regional Scope
Regional Scope

North America, Europe, Asia Pacific, Middle East & Africa, South & Central America

Country Scope
Country Scope

US, Canada

The List of Companies - North America Submarine Cable System Market

  1. Fujitsu Limited
  2. Hawaiki Cable Limited
  3. Huawei Marine Networks Co., Limited
  4. Mitsubishi Electric Corporation
  5. NEC Corporation
  6. Nexans SA
  7. Nokia Corporation
  8. Prysmian Group
  9. Subcom, LLC
  10. Sumitomo Electric Industries, Ltd.

The Insight Partners performs research in 4 major stages: Data Collection & Secondary Research, Primary Research, Data Analysis and Data Triangulation & Final Review.

  1. Data Collection and Secondary Research:

As a market research and consulting firm operating from a decade, we have published many reports and advised several clients across the globe. First step for any study will start with an assessment of currently available data and insights from existing reports. Further, historical and current market information is collected from Investor Presentations, Annual Reports, SEC Filings, etc., and other information related to company’s performance and market positioning are gathered from Paid Databases (Factiva, Hoovers, and Reuters) and various other publications available in public domain.

Several associations trade associates, technical forums, institutes, societies and organizations are accessed to gain technical as well as market related insights through their publications such as research papers, blogs and press releases related to the studies are referred to get cues about the market. Further, white papers, journals, magazines, and other news articles published in the last 3 years are scrutinized and analyzed to understand the current market trends.

  1. Primary Research:

The primarily interview analysis comprise of data obtained from industry participants interview and answers to survey questions gathered by in-house primary team.

For primary research, interviews are conducted with industry experts/CEOs/Marketing Managers/Sales Managers/VPs/Subject Matter Experts from both demand and supply side to get a 360-degree view of the market. The primary team conducts several interviews based on the complexity of the markets to understand the various market trends and dynamics which makes research more credible and precise.

A typical research interview fulfils the following functions:

  • Provides first-hand information on the market size, market trends, growth trends, competitive landscape, and outlook
  • Validates and strengthens in-house secondary research findings
  • Develops the analysis team’s expertise and market understanding

Primary research involves email interactions and telephone interviews for each market, category, segment, and sub-segment across geographies. The participants who typically take part in such a process include, but are not limited to:

  • Industry participants: VPs, business development managers, market intelligence managers and national sales managers
  • Outside experts: Valuation experts, research analysts and key opinion leaders specializing in the electronics and semiconductor industry.

Below is the breakup of our primary respondents by company, designation, and region:

Research Methodology

Once we receive the confirmation from primary research sources or primary respondents, we finalize the base year market estimation and forecast the data as per the macroeconomic and microeconomic factors assessed during data collection.

  1. Data Analysis:

Once data is validated through both secondary as well as primary respondents, we finalize the market estimations by hypothesis formulation and factor analysis at regional and country level.

  • 3.1 Macro-Economic Factor Analysis:

We analyse macroeconomic indicators such the gross domestic product (GDP), increase in the demand for goods and services across industries, technological advancement, regional economic growth, governmental policies, the influence of COVID-19, PEST analysis, and other aspects. This analysis aids in setting benchmarks for various nations/regions and approximating market splits. Additionally, the general trend of the aforementioned components aid in determining the market's development possibilities.

  • 3.2 Country Level Data:

Various factors that are especially aligned to the country are taken into account to determine the market size for a certain area and country, including the presence of vendors, such as headquarters and offices, the country's GDP, demand patterns, and industry growth. To comprehend the market dynamics for the nation, a number of growth variables, inhibitors, application areas, and current market trends are researched. The aforementioned elements aid in determining the country's overall market's growth potential.

  • 3.3 Company Profile:

The “Table of Contents” is formulated by listing and analyzing more than 25 - 30 companies operating in the market ecosystem across geographies. However, we profile only 10 companies as a standard practice in our syndicate reports. These 10 companies comprise leading, emerging, and regional players. Nonetheless, our analysis is not restricted to the 10 listed companies, we also analyze other companies present in the market to develop a holistic view and understand the prevailing trends. The “Company Profiles” section in the report covers key facts, business description, products & services, financial information, SWOT analysis, and key developments. The financial information presented is extracted from the annual reports and official documents of the publicly listed companies. Upon collecting the information for the sections of respective companies, we verify them via various primary sources and then compile the data in respective company profiles. The company level information helps us in deriving the base number as well as in forecasting the market size.

  • 3.4 Developing Base Number:

Aggregation of sales statistics (2020-2022) and macro-economic factor, and other secondary and primary research insights are utilized to arrive at base number and related market shares for 2022. The data gaps are identified in this step and relevant market data is analyzed, collected from paid primary interviews or databases. On finalizing the base year market size, forecasts are developed on the basis of macro-economic, industry and market growth factors and company level analysis.

  1. Data Triangulation and Final Review:

The market findings and base year market size calculations are validated from supply as well as demand side. Demand side validations are based on macro-economic factor analysis and benchmarks for respective regions and countries. In case of supply side validations, revenues of major companies are estimated (in case not available) based on industry benchmark, approximate number of employees, product portfolio, and primary interviews revenues are gathered. Further revenue from target product/service segment is assessed to avoid overshooting of market statistics. In case of heavy deviations between supply and demand side values, all thes steps are repeated to achieve synchronization.

We follow an iterative model, wherein we share our research findings with Subject Matter Experts (SME’s) and Key Opinion Leaders (KOLs) until consensus view of the market is not formulated – this model negates any drastic deviation in the opinions of experts. Only validated and universally acceptable research findings are quoted in our reports.

We have important check points that we use to validate our research findings – which we call – data triangulation, where we validate the information, we generate from secondary sources with primary interviews and then we re-validate with our internal data bases and Subject matter experts. This comprehensive model enables us to deliver high quality, reliable data in shortest possible time.

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