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
Market Size Value in US$ 12.58 Billion in 2022 Market Size Value by US$ 30.50 Billion by 2030 Growth rate CAGR of 11.7% from 2022 to 2030 Forecast Period 2023-2030 Historic Period 2020-2021
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Submarine Cable System Market: Strategic Insights
| Market Size Value in | US$ 12.58 Billion in 2022 |
| Market Size Value by | US$ 30.50 Billion by 2030 |
| Growth rate | CAGR of 11.7% from 2022 to 2030 |
| Forecast Period | 2023-2030 |
| Historic Period | 2020-2021 |
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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 Report Scope
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
Report Coverage
Revenue forecast, Company Analysis, Industry landscape, Growth factors, and Trends
Segment Covered
This text is related
to segments covered.
Regional Scope
North America, Europe, Asia Pacific, Middle East & Africa, South & Central America
Country Scope
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to country scope.
Frequently Asked Questions
The global submarine cable system market is estimated to register a CAGR of 11.7% during the forecast period 2022–2030.
The key players holding majority shares in the global submarine cable system market are Sumitomo Electric Industries Ltd, SubCom, LLC, Prysmian SpA, Alcatel Submarine Networks, Nexans SA, NEC Corp, Mitsubishi Electric Corp, HMN Technologies Co., Ltd., Fujitsu Ltd, and Vodafone Group Plc.
The global submarine cable system market is expected to reach US$ 30.50 billion by 2030.
Asia Pacific dominated the submarine cable system market in 2022.
The Rise in adoption of cloud-based services to play a significant role in the global submarine cable system market in the coming years.
The growing installation of subsea cable systems and a rise in data traffic are the major factors that propel the global submarine cable system market.
The Insight Partners performs research in 4 major stages: Data Collection & Secondary Research, Primary Research, Data Analysis and Data Triangulation & Final Review.
- 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.
- 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:
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.
- 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.
- 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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