Submarine Cable System Market Growth and Analysis by 2030

The submarine cable system market size is projected to reach US$ 30.50 billion by 2030 from US$ 12.58 billion in 2022. The market is expected to register a CAGR of 11.7% during 2022–2030. The rise in adoption of cloud-based services is likely to remain a key trends in the market.

Submarine Cable System Market Analysis

The growing installation of subsea cable systems and a rise in data traffic are driving the market. The market is anticipated to grow during the forecast period, due to the growing Surge in investment in offshore wind power generation. Moreover, government initiatives and funding to improve cable system networks and the growing number of projects based on HVDC power transmission technology are creating lucrative opportunities for the market.

Submarine Cable System Market Overview

Submarine cable system is the infrastructure of cables put beneath the sea to connect different regions and provide seamless communication and data transfer. These systems play an important role in promoting global connectivity and are essential components of the telecommunications and internet sectors. They provide unrivaled reliability, low latency, and high bandwidth, making them perfect for companies that rely on real-time data exchanges, cloud computing, and online collaboration. Furthermore, underwater cable systems are essential for international communication, allowing for the transmission of massive volumes of data between countries and continents.

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Submarine Cable System Market: Strategic Insights

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Submarine Cable System Market Drivers and Opportunities

Growing Installation of Subsea Cable Systems to Favor the Market

In April 2022, Google announced its groundbreaking Topaz subsea cable, which established the first-ever connection between Asia and Canada. The Topaz cable boasts an impressive infrastructure, accommodating a total of 16 fiber pairs and delivering a remarkable capacity of 240Tb/s. It incorporates cutting-edge technology such as wavelength selective switch (WSS), enabling dynamic spectrum allocation and enhancing routing flexibility and resilience. Initiatives taken by prominent service providers act as a major driver for market growth.

Government Initiatives and Funding to Improve Cable System Network

The UK government is proactively collaborating with the submarine cable industry to ensure uninterrupted operations. This includes engaging in future planning to prepare for potentially strict mobility restrictions in this dynamic environment. Government departments and private companies in the UK are making efforts to support companies and safeguard the economy. For instance, in November 2023, Prysmian Group, a worldwide leader in the energy & telecom cable systems sector, secured a contract valued at approximately US$ 900 million. The contract has been awarded by Eastern Green Link 1 Limited, a joint venture between UK transmission grid owners SP Transmission plc and National Grid Electricity Transmission plc. The agreement entails the provision of cable systems for a significant network development project connecting Scotland and England.

Submarine Cable System Market Report Segmentation Analysis

Key segments that contributed to the derivation of the submarine cable system market analysis are component and mining type.

• Based on services, the submarine cable system market is divided into installation services and maintenance and upgrade. The installation services segment held a larger market share in 2022.
• By cable capacity, the market is segmented into less than 10 Tb/s, 10–20 Tb/s, 20–30 Tb/s, and more than 30 Tb/s. The 20–30 Tb/s segment held a larger market share in 2022.
• On the basis of application, the market is divided into communication and energy & power. The communication segment held a larger market share in 2022.
• In terms of type, the market is bifurcated into single-core and multi-core. The single-core segment held a larger market share in 2022.

Submarine Cable System Market Share Analysis by Geography

The geographic scope of the submarine cable system market report is mainly divided into five regions: North America, Asia Pacific, Europe, Middle East & Africa, and South & Central America.

The market in Europe is projected to expand during the forecast period. The Government of India is focusing on reworking the policies of the submarine cable system, such as the Licensing Framework and Regulatory Mechanism for Submarine Cable Landing in India, to boost the country's digital economy. In a remarkable surge of growth, submarine cable systems capacity in India has experienced a significant increase over the past few years. According to data gathered by the Telecom Regulatory Authority of India, the capacity has increased sharply from 9,137 Gbit/s in 2016 to 83,000 Gbit/s in 2022. This surge in capacity has been made possible by the establishment and management of 17 submarine cables, which are operated from 14 cable landing stations primarily situated in Mumbai and Chennai. This substantial growth in submarine capacity reflects India's commitment to expanding its telecommunications infrastructure and meeting the rising demand for high-speed internet connectivity. The increased capacity supports the growing digital needs of businesses and individuals as well as makes the country a key player in the global telecommunications sector.

Submarine Cable System Market Regional Insights

The regional trends and factors influencing the Submarine Cable System Market throughout the forecast period have been thoroughly explained by the analysts at Insight Partners. This section also discusses Submarine Cable System Market segments and geography across North America, Europe, Asia Pacific, Middle East and Africa, and South and Central America.

Submarine Cable System Market Report Scope

Submarine Cable System Market Players Density: Understanding Its Impact on Business Dynamics

The Submarine Cable System Market market is growing rapidly, driven by increasing end-user demand due to factors such as evolving consumer preferences, technological advancements, and greater awareness of the product's benefits. As demand rises, businesses are expanding their offerings, innovating to meet consumer needs, and capitalizing on emerging trends, which further fuels market growth.

Market players density refers to the distribution of firms or companies operating within a particular market or industry. It indicates how many competitors (market players) are present in a given market space relative to its size or total market value.

Major Companies operating in the Submarine Cable System Market are:

1. Sumitomo Electric Industries Ltd
2. SubCom, LLC
3. Prysmian SpA
4. Alcatel Submarine Networks
5. Nexans SA
6. NEC Corp

Disclaimer: The companies listed above are not ranked in any particular order.

Submarine Cable System Market News and Recent Developments

The submarine cable system market is evaluated by gathering qualitative and quantitative data post primary and secondary research, which includes important corporate publications, association data, and databases. A few of the developments in the submarine cable system market are listed below:

• WSense and Alcatel Submarine Networks (ASN) signed a Memorandum of Understanding (MOU) to create the next generation of underwater wireless communication systems. (Source: Alcatel Submarine Networks, a Nokia company, Company Website, January 2024)

Submarine Cable System Market Report Coverage and Deliverables

The “Submarine Cable System Market Size and Forecast (2020–2030)” report provides a detailed analysis of the market covering below areas:

• Submarine cable system market size and forecast at global, regional, and country levels for all the key market segments covered under the scope
• Submarine cable system market trends as well as market dynamics such as drivers, restraints, and key opportunities
• Detailed PEST/Porter’s Five Forces and SWOT analysis
• Submarine cable system market analysis covering key market trends, global and regional framework, major players, regulations, and recent market developments
• Industry landscape and competition analysis covering market concentration, heat map analysis, prominent players, and recent developments for the submarine cable system market
• Detailed company profiles